09-12-88 Council Meeting Minutes

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375 E- GUL�I3�MEETING gRPTFMB l ?.- 19R8 North along the East line of Kendall Street a distance of 29.90 feet for a point of beginning; thence continuing North on the said East line of Kendall Street a distance of 25.00 feet; thence No. 89 °40137" E. a distance of 41.80 feet to the point of curvature of a curve concave to the Northwest and having a central angel of 77 °11129" and a radius of 233.09 feet; thence Northeasterly along said curve an arc distance of 314.03 feet to the South line of Broadway Street projected West; thence N. 89 °22140" E. along said South line a distance of 34.50 feet to its intersection with a curve concave to the Northwest and having a central angle of 20 °12'58" and a radius of 360.95 feet; thence Southwesterly along said last described curve an arc distance of 127.36 feet to the point of compound curvature with a curve concave to the Northwest and having a central angle of 20 °12100" and a radius of 258.09 feet; thence Southwesterly along said last described curve an arc distance of 91.21 feet to its intersection with a curve concave to the Northwest and having a central angle of 9 °29112" and a radius of 716.78 feet; thence Northeasterly along said last described curve an arc distance of 118.68 feet to the point of compound curvature with a curve concave to the Northwest and having a central angle of 35 °45148" and a radius of 270.30 feet; thence Northeasterly along said last described curve an arc distance of 168.72 feet to the aforesaid South line of Broadway Street projected West; thence N. 89 °22140" E. along said South line a distance of 27.40 feet to its intersection with a curve concave to the Northwest and having a central angle of 28 °36'51" and a radius of 295.30 feet; thence Southwesterly along said last described curve an arc distance of 147.48 feet to its intersection with a line having a bearing of N. 67 °22140" E.; thence N. 67 °22140" E. along said line a distance of 183.62 feet to the point of curvature of a curve concave to the Northwest and having a central angle of 10 °09121" and having a radius of 347.70 feet; Northwesterly along said last described curve an arc distance of 61.63 feet to the aforesaid South line of Broadway Street projected West; thence N. 89°2214011 E. along said South line a distance of 67.07 feet; thence S. 67 °22140" W. a distance of 294.02 feet to the point of curvature of a curve concave to the Northwest and having a central angle of 27 °17157" and a radius of 658.57 feet; thence Southwesterly along said last described curve an arc distance of 313.92 feet to the point of tangency of said curve; thence S. 89 °40137" W. a distance of 53.02 feet to the point of beginning. All of the foregoing being situated in the City of South Bend, County of St. Joseph, State of Indiana. as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and WHEREAS, the Council has held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for purposes of tax abatement. Such designation is for personal property tax abatement only and is limited to two (2) calendar years from the date of the adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted real property personal deduction for a period of five (5) years. I SECTION III. 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 A public hearing was held on the resolution at this time. Ernest Szarwark, attorney, made the presentations for the resolutions. He indicated Allied Stamping Division plans to renovate the exterior and interior of their building, as well as expand the office. He indicated that additionally, they plan to upgrade the equipment. He indicated they are facing mounting competition. He indicated the purpose of this project is to obtain certification as a preferred supplier to the Big 3 auto makers by improving capacity and quality. He indicated such certification will assure continued operations in South Bend. He indicated this project will save approximately 400 existing jobs. Council Member Luecke made a motion to adopt this resolution, seconded by Council Member Coleman. The resolution was adopted by a roll call vote of nine ayes. BILLS, FIRST READING ORDINANCE NO. 7917 -88 AN ORDINANCE OF THE CITY OF SOUTH BEND, INDIANA, REGARDING $11,000,000 CITY OF SOUTH BEND, INDIANA MULTIFAMILY HOUSING REVENUE BONDS (RAINTREE POINT ASSOCIATES, LTD. PROJECT)