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REGULAR MEETING SEPTEMBER 13, 2010 <br /> <br /> <br />SECTION IV. The Common Council hereby determines and finds that the proposed <br />described redevelopment can be reasonably expected to yield benefits identified in the <br />Statement of Benefits and the petition for real property tax abatement consideration and <br />that the Statement of Benefits form prescribed by the State Board of Accounts are <br />sufficient to justify the deduction granted under Indiana Code 6-1.1-12.1-3. <br /> <br />SECTION V. The Common Council hereby accepts the report and recommendation of <br />the Community and Economic Development Committee that the area herein described be <br />designated as a Residentially Distressed Area and hereby adopts a Resolution designating <br />this area as a Residentially Distressed Area for purposes of real property tax abatement. <br /> <br />SECTION VI. The designation as a Residentially Distressed Area shall be limited to five <br />(5) calendar years from the date of the adoption of this Resolution by the Common <br />Council. <br /> <br />SECTION VII. The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax deduction for a period of five (5) years. <br /> <br />SECTION VIII. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution for Real Property Tax Abatement to be published <br />pursuant to Indiana Code 5-3-1 and Indiana Code 6-1.1-12.1-2.5, said publication <br />providing notice of the public hearing before the Common Council on the proposed <br />confirming of said declaration. <br /> <br />SECTION IX. Pursuant to Indiana Code 6-1.1-12.1-2, the rehabilitation must meet all <br />local code standards for habitability as a specific condition of having such property <br />designated as a residentially distressed area. <br /> <br />SECTION X. This Resolution shall be in full force and effect from and after its adoption <br />by the Common Council and approval by the Mayor. <br /> <br /> s/Derek D. Dieter <br /> Member of the Common Council <br /> <br />Councilmember Timothy Rouse, Chairperson, Community and Economic Development <br />Committee reported that this committee met this afternoon on this bill and voted to send <br />it to the full Council with a favorable recommendation. <br /> <br />Mr. Bernard Feeney, Lang, Feeney & Associates, 715 South Michigan Street, South <br />Bend, Indiana, made the presentation for this bill. <br /> <br />Mr. Feeney advised that Snyder Custom Homes intends to construct two new single <br />family homes. Each home will be two stories. One of the homes will contain <br />approximately 2,850 square feet with three bedrooms and an attached two stall garage. <br />The other home will contain approximately 3,000 square feet with four bedrooms, a <br />finished lower level and an attached two car garage The cost of the two homes will be <br />approximately $525,000 each. <br /> <br />A Public Hearing was held on the Resolution at this time. <br /> <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this Resolution, Councilmember Puzzello made a motion to adopt this <br />Resolution. Councilmember Oliver Davis seconded the motion which carried and the <br />Resolution was adopted by a roll call vote of eight (8) ayes and one (1) nay <br />(Councilmember Henry Davis.) <br /> <br />BILLS – FIRST READING <br /> <br /> <br /> <br /> <br /> <br /> 16 <br /> <br />