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REGULAR MEETINGNOVEMBER 28, 2005 <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 requireme nts 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/Charlotte D. Pfeifer <br /> Member of the Common Council <br />Mr. Bernard Feeney, Registered Land Surveyor, 715 South Michigan Street, South Bend, <br />Indiana, made the presentation for this bill on behalf of Ullery Development, LLC. <br />Mr. Feeney advised that this project will develop fifteen (15) lots on 3.33 acres of land <br />between 4044 Sampson and 4104 Sampson. The homes will be constructed by Ullery <br />Development, LLC. The average cost of homes within this development is expected to <br />be $250,000 with a total value of $3,750,000. <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 White made a motion to adopt this <br />Resolution. Councilmember Kuspa seconded the motion which carried and the <br />Resolution was adopted by a roll call vote of nine (9) ayes. <br />RESOLUTION NO. 3536-05 A RESOLUTION OF THE COMMON COUNCIL <br /> OF THE CITY OF SOUTH BEND <br /> DESIGNATING CERTAIN AREAS WITHIN THE <br /> CITY OF SOUTH BEND, INDIANA, <br /> COMMONLY KNOWN AS 2259 CRANSTON <br /> STREET AS A RESIDENTIALLY DISTRESSED <br /> AREAS FOR PURPOSES OF A FIVE (5) YEAR <br /> RESIDENTIAL REAL PROPERTY TAX <br /> ABATEMENT FOR STEVEN AND SHARON <br /> OBERT <br />WHEREAS, a Statement of Benefits and a petition for residential real property tax <br />abatement have been submitted to and filed with the City Clerk for consideration by the <br />10 <br /> <br />