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REGULAR MEETING <br />OCTOBER 22, 2007 <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 <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 VI. 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 />Councilmember Dieter, Chairperson, Community and Economic Development <br />Committee conducted a Public Hearing on Bill Nos. 07-129 and 07-130 and voted to <br />send these bills to the full Council with a favorable recommendation. <br />Mr. Robert Case, Abonmarche, 750 Lincoln Wayne East, South Bend, Indiana, made the <br />presentation for these bills on behalf of the owner Kendall-Weiss, LLP., a Weiss Homes, <br />Inc. development partnership. <br />Mr. Case stated that the petitioner is requesting a waiver for 6819 Stewart Drive (Lot <br />409) within Lafayette Falls, Phase III, Section One. Mr. Case advised that a five (5) year <br />residential real property tax abatement for Lafayette Falls Subdivision was adopted by the <br />Common Council on February 12, 2007, (Resolution No. 3697-07) for Lots 403 through <br />408. These lots lie immediately to the north of Lot 409. The developer was unaware that <br />Lot 409 was not included within this approved abatement and inadvertently obtained a <br />building permit for this lot. Mr. Case noted that with the approval of this waiver, the <br />18 <br />