07-11-88 Council Meeting Minutes

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KIWI - MEETING JULY 11 1988 SECTION III. The Common Council hereby determines and finds that the proposed new manufacturing equipment can be reasonably expected to yield the benefits identified in the Statement of Benefits set forth on the Statement of Benefits form prescribed by the State Board of Accounts and are sufficient to justify the deduction granted under Section 6 -1.1- 12.1 -4.5 of the Indiana Code. SECTION IV. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described be designated an Economic Revitalization Area for purposes of real property tax abatement and hereby makes such designation. SECTION V. The Common Council determines that such designation is for real property tax abatement only and shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. Section VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of three (3) years. SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Personal Property Tax Abatement to be published, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s/ John Voorde Member of the Common Council RESOLUTION NO. 1625 -88 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY KNOWN AS 1020 HIGH STREET AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR ART IRON, INC. WHEREAS, a petition for personal property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, requesting that the area commonly known as 1020 High Street, South Bend, Indiana, and which is more particularly described as follows: Parcel 1 : (a) A part of the Northeast Quarter of Section 13, Township 37 North, Range 2 East in the City of South Bend, St. Joseph County, Indiana, described as follows, viz: Beginning at a point, in the center line of High Street, 159 feet South of the point of intersection of the said center line of High Street in Martin L. Wenger's Second Addition to the City of South Bend with the North line of said Section 13, which said Section line is the former East and West center line of Sample Street in said City, said beginning point being a stone set in the center of said High Street, East of and in line with the center line East and West of the First Alley South of Sample Street in said Wenger's Second Addition; thence from said point of beginning running South with the center line of said High Street, 446 feet to a stone set in the center of said High Street on the northerly line of the right of way of the Lake Shore and Michigan Southern Railway Company (New York Central Lines) ; thence South 57 degrees and 12 minutes East with the Northerly line of said right of way, 641.3 feet to a stone set; thence North 654.22 feet to a stone set; thence due West parallel with the North line of said Section 13, a distance of 209 feet to a stone set; thence due North parallel with High Street 139 feet to a stone set; thence West 330 feet to the place of beginning, excepting therefrom the following described parcel: An irregular parcel of land in the City of South Bend, lying North and adjacent to the right of way of the New York Central Railroad and East of High Street, so called, being more particularly described as follows: Beginning at a point on the North line of the New York Central Railroad at the intersection with the East line of said High Street, so called; thence extending North along the East line of High Street, a distance of 38 feet to a point; thence South 65 degrees 35 minutes 30 seconds East a distance of 174.86 feet to a point; thence South 82 degrees 24 minutes East a distance of 80.62 feet to a point; thence North 78 degrees 59 minutes East a distance of 283.10 feet to a point on the East line of the property of the South Bend Toy Manufacturing Company7 thence South no degrees 33 minutes East along said East property line a distance of 344.2 feet to a point on the North property line of the New York Central Railroad; thence North 57 degrees 13 minutes West along the North property line of said New York Central Railroad a distance of 618.35 feet to the place of beginning.