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REGULAR MEETING NOVEMBER 8, 2010 <br /> <br /> <br /> <br />A. That the description of the proposed redevelopment meets the applicable <br />standards for such development. <br />B. That the estimate of the value of the redevelopment is reasonable for <br />projects of this nature; <br />C. That the other benefits about which information was requested are benefits <br />that can be reasonably expected to result from the proposed described <br />redevelopment; and <br />D. That the totality of benefits is sufficient to justify the requested deduction, <br />all of which satisfy the requirements of Indiana Code 6-1.1-12.1-3. <br />E. The deduction will not be allowed unless the dwelling is rehabilitated to <br />meet local code standards for habitability. <br />F. The deduction will not be allowed unless the dwelling rehabilitation is <br />completed within five (5) calendar years from the date of the adoption of <br />this Resolution by the Common Council. <br /> <br />SECTION IV. The Common Council hereby confirms its Declaratory Resolution <br />designating the area described herein as a Residentially Distressed Area for the purposes <br />of tax abatement. Such designation is for Real property tax abatement only and is limited <br />to five (5) calendar years from the date of adoption of the Declaratory Resolution by the <br />Common Council. <br /> <br />SECTION V. The Common Council hereby determines that the property owner is <br />qualified for and is granted Real property tax deduction for a period of five (5) years, and <br />further determines that the petition complies with Chapter 2, Article 6, of the Municipal <br />Code of the City of South Bend and Indiana Code 6-1.1-12.1 et seq. <br /> <br />SECTION VI. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approval by the Mayor. <br /> <br /> <br /> s/Derek D. Dieter <br /> Member of the Common Council <br /> <br />Mr. Adam DeVon, DeVon Custom Homes, Inc. 17871 St. Rd. 23, South Bend, Indiana, <br />made the presentation for this bill on behalf of J. Nicholas and Diane Entrikin. <br /> <br />Mr. DeVon advised that Mr. & Mrs. Entrikin plan to construct a 2,300 square foot, <br />single-family home as their primary residence. The home will have three bedrooms, two <br />and one-half bathrooms, a great room, a dining room, first floor laundry, two car garage <br />and large front porch. The lower level will have a recreation room, bedroom and <br />bathroom. The cost of the home is estimated at approximately $400,000. Total taxes to <br />be abated during the five (5) year abatement period are estimated at $1,893. Total taxes <br />to be paid during the five (5) year abatement period are estimated at $20,544. The project <br />is part of the Notre Dame Housing Program and as such will follow the design <br />specifications and standards required by that program. <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 Rouse 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 seven (7) ayes and one (1) nay <br />(Councilmember Henry Davis, Jr.) <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 8 <br /> <br />