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94y_1998
<br />I
<br />RESOLUTION NO. 1657 -88 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH
<br />BEND, INDIANA, DESIGNATING CERTAIN AREAS WITHIN THE
<br />CITY OF SOUTH BEND COMMONLY KNOWN AS 400 WEST SAMPLE
<br />STREET, SOUTH BEND, INDIANA 46625, AN ECONOMIC
<br />REVITALIZATION AREA FOR PURPOSES OF A 5 YEAR PERSONAL
<br />PROPERTY TAX ABATEMENT FOR SOUTH BEND LATHE, INC.
<br />WHEREAS, a petition for personal property tax abatement consideration has been
<br />filed with the Common Council of the City of South Bend, requesting that the area
<br />commonly known as 400 West Sample Street, South Bend, Indiana 46625, and which is
<br />more particularly described as follows:
<br />A parcel of land being part of the Northeast Quarter of Section 14, Township 37
<br />North, Range 2 East of the Second Principal Meridian, and being more particularly
<br />described as follows, viz:
<br />Beginning at the Northwest corner of Tract No. 4 of the Studebaker Corporation
<br />Replat as recorded in Plat Book 11, Page 184, in the Office of the Recorder of St.
<br />Joseph County, Indiana; thence South 89 51' 46" East, along the North line of said
<br />Tract No. 4, said line being also the South Right -of -Way line of Sample Street, a
<br />distance of 1200.01 feet to a point 241.64 feet North 89 51' 46" West of the West
<br />Right -of -Way line of Franklin Street, said point being on the Northerly projection
<br />of the West wall line of a building; thence South 0 21' 18" East, along said
<br />projection and along said West wall line, a distance of 421.71 feet to an angle
<br />point; thence South 27 52' 38" East, along a wall line, a distance of 27.70 feet to
<br />an angle point; thence North 89 38' 42" East, along a wall line, a distance of
<br />132.73 feet to a point 96.19 feet South 89 38' 42" West of the West Right -of -Way of
<br />Franklin Street; thence South 0 21' 55" East, parallel with the West Right -of -Way of
<br />Franklin Street, a distance of 160.27 feet to a point 96.18 feet South 89 55' 21"
<br />West of said West Right -of -Way of Franklin Street; thence South 89 55' 21" West, a
<br />distance of 134.32 feet to a point; thence North 12 19' 39" West, a distance of
<br />162.12 feet to a point; thence North 89 51' 39" West, a distance of 647.32 feet
<br />to a point; thence South 0 04' 26" West, a distance of 28.28 feet to a point;
<br />thence North 89 50' 26" West, a distance of 100.00 feet to a point; thence South 0
<br />04' 26" West, a distance of 62.99 feet to a point; thence North 88 32' 07" West, a
<br />distance of 443.76 feet to a point; thence North 0 07' 13" East, a distance of
<br />83.15 feet to a point on a non - tangent curve which is convex to the Southwest;
<br />thence Northwesterly along said curve, having a radius of 323.50 feet and a central
<br />angle of 34 37' 1711, an arc distance of 195.48 feet to the point of tangency on said
<br />curve; thence North 3 53' 00" West, a distance of 13.87 feet to a point; thence
<br />North 61 39' 41" West, a distance of 169.36 feet to the Easterly Right -of -Way line
<br />of Chapin Street; thence North 5 57' 39" East, along said Easterly Right -of -Way
<br />line, a distance of 29.04 feet to an angle point; thence continuing along said
<br />Easterly Right -of -Way line, North 0 10' 33" West, a distance of 43.02 feet to a
<br />point of tangency for a curve convex to the Northwest; thence Northeasterly along
<br />said curve, having a radius of 94.48 feet and a central angle of 88 00' 4011, an arc
<br />distance of 145.13 feet to the point of tangency of said curve, said point being on
<br />the South Right -of -Way line of Sample Street; thence North 87 50' 07" East, along
<br />said South Right -of -Way line, a distance of 135.89 feet to the place of beginning,
<br />being designated as an Economic Revitalization Area under the provisions of Indiana
<br />Code 6 -1.1- 12.1 -1 et seq.; and,
<br />WHEREAS, the Department of Economic Development has concluded an investigation
<br />and prepared a report with information sufficient for the Common Council to
<br />determine that the area qualifies as an Economic Revitalization Area under Indiana
<br />Code 6 -1 .1- 12.1.1 et seq. and South Bend Municipal Code section 2 -76, et seq., and
<br />has further prepared maps and plats showing the other information regarding the area
<br />in question as required by law; and boundaries and such other information regarding
<br />the area in question as required by law; and
<br />WHEREAS, the Human Resources and Economic Development Committee of the Common
<br />Council has reviewed said report and recommended to the Common Council that the area
<br />qualifies as an Economic Revitalization Area.
<br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend,
<br />Indiana, as follows:
<br />SECTION I. The Common Council hereby determines and finds that the Petition for
<br />Personal Property Tax Abatement and the Statement of Benefits form completed by the
<br />Petitioner meet the requirements of I.C. 6 -1.1- 12.1 -1 et seq., and qualifies under
<br />the provisions of South Bend Municipal Code Section 2.76 et seq., for tax abatement.
<br />SECTION II. The Common Council hereby determines and finds the following:
<br />A. That the estimate of the value of the redevelopment or rehabilitation is
<br />reasonable for projects of this nature;
<br />B. That the estimate of the number of individuals who will be employed or whose
<br />employment will be retained can reasonably be expected to result from the proposed
<br />described redevelopment or rehabilitation;
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