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E. The deduction will not be allowed unless the dwelling is rehabilitated to meet local <br /> code standards for habitability. <br /> F. The deduction will not be allowed unless the dwelling rehabilitation is completed <br /> within three (3) calendar years from the date of the adoption of this Resolution by <br /> the Common Council. <br /> SECTION IV. The Common Council hereby confirms its Declaratory Resolution designating <br /> the area described herein as a Residentially Distressed Area for the purposes of tax abatement. <br /> Such designation is for Real property tax abatement only and is limited to three (3) calendar <br /> years from the date of adoption of the Declaratory Resolution by the Common Council as shown <br /> by the attachment pursuant to Indiana Code 6-1.1-12.1-17. <br /> SECTION V. The Common Council hereby determines that the property owner is qualified for <br /> and is granted Real property tax deduction for a period of five (5) years as shown below, and <br /> further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of <br /> the City of South Bend and Indiana Code 6-1.1-12.1 et sea. <br /> Year 1 — 100% <br /> Year 2— 100% <br /> Year 3 — 100% <br /> Year 4— 100% <br /> Year 5 — 100% <br /> SECTION VI. This Resolution shall be in full force and effect from and after its adoption by the <br /> Common Council and approval by the Mayor. <br /> Tim Scott, Council President <br /> South Bend Common Council <br /> 5 <br />