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REGULAR MEETING <br />APRIL 9, 2007 <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 />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 />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 />SECTION VL 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 />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 />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 />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 />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 />s/Timothy A. Rouse <br />Member of the Common Council <br />Violet Blosser, Habitat for Humanity, 402 E. South Street, South Bend, Indiana, made the <br />presentation for these bills. <br />Ms. Blosser advised that on Bill No. 07-54, Habitat for Humanity intends to construct <br />five (5), single family homes with volunteer labor and donated materials to build the <br />homes. Two types of home will be constructed. One style will feature a three bedroom, <br />one bath, 1,120 square feet, built on a four-foot crawlspace or full basement. The other <br />style that will be constructed is a 1,344 square foot, four bedroom, and two-bath home <br />also built on a four foot crawlspace or a full basement. The estimated cost of the homes <br />is $65,000.00. <br />A Public Hearing was held on these Resolutions at this time. <br />There was no one present wishing to speak to the Council either in favor of or in <br />opposition to these Resolutions. <br />Councilmember Pfeifer made a motion to adopt Bill No. 07-54, as amended. <br />Councilmember Dieter seconded the motion which carried and the Resolution was <br />adopted by a roll call vote of seven (7) ayes. <br />19 <br />