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REGULAR MEETING MAY 22, 2006 <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 certificates <br />of occupancy, or the areas are owned by Indiana or the United States; or <br />G. The area (plus any areas previously designated under this subsection) will not <br />exceed ten percent (10%) of the total area within the Councils 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 projects of <br />this nature; <br />C. That the other benefits about which information was requested are benefits that <br />can be reasonably expected to result from the proposed described redevelopment; and <br />D. That the totality of benefits is sufficient to justify the requested deduction, all of <br />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 meet <br />local code standards for habitability. <br />F. The deduction will not be allowed unless the dwelling rehabilitation is completed <br />within five (5) calendar years from the date of the adoption of this Resolution by the <br />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 />Ms. Karen Ainsley, Executive Director, Near Northwest Neighborhood, Inc., 1007 <br />Portage Avenue, South Bend, Indiana, made the presentation for this bill. <br />Ms. Ainsley advised that the Near Northwest Neighborhood, Inc. is preparing to build a <br />new single family, three bedroom home with a total of six rooms. It will contain 1,120 to <br />1,300 square feet and have a basement and an attached 20 x 22 sq. ft. garage. The cost of <br />the home will be approximately $120,000. <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 Dieter made a motion to adopt this <br />Resolution. Councilmember White seconded the motion which carried and the <br />Resolution was adopted by a roll call vote of eight (8) ayes <br />RESOLUTION NO. 3592-06 A RESOLUTION OF THE COMMON <br /> COUNCIL OF THE CITY OF SOUTH <br /> BEND DESIGNATING CERTAIN AREAS <br /> WITHIN THE CITY OF SOUTH BEND, <br /> INDIANA, COMMONLY KNOWN AS <br /> 3425 WEST LATHROP DRIVE AN <br />8 <br /> <br />