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REGULAR MEETING MAY 22, 2006 <br /> i. the subject of an order issued under IC 36-7-9; or <br /> ii. evidencing significant building deficiencies; or <br />F. The area has experienced a net loss in the number of dwelling units, as <br />documented by census information, local building and demolition permits, or <br />certificates of occupancy, or the areas are owned by Indiana or the United States; <br />or <br />G. The area (plus any areas previously designated under this subsection) will <br />not exceed ten percent (10%) of the total area within the Council’s jurisdiction. <br />SECTION III. The Common Council also hereby determines and finds the following: <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 this <br />Resolution by the Common Council. <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 />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 />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 /> s/Timothy A. Rouse <br /> Member of the Common Council <br />Mr. Thomas Guinan , 50936 Stone Hill Court, Granger, Indiana, made the presentation <br />for this bill. <br />Mr. Guinan stated that he and his wife are planning to build a new home. The home will <br />be approximately 2,800 square feet and have a basement. The cost of the home will be <br />approximately $380,000. <br />A Public Hearing was held on the Resolution at this time. <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 Varner seconded the motion which carried and the <br />Resolution was adopted by a roll call vote of eight (8) ayes. <br />RESOLUTION NO. 3591-06 A RESOLUTION CONFIRMING THE <br /> ADOPTION OF A DECLARATORY <br /> RESOLUTION DESIGNATING CERTAIN <br />6 <br /> <br />