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SECTION I. The Common Council hereby determines and fmds that the petition for real <br />property tax abatement and the Statement of Benefits form meet the requirements of Indiana <br />Code 6-1.1-12.1 et seq., for tax abatement. <br />SECTION II. The Common Council hereby determines and fmds that the azea meets one of the <br />following conditions as formally established in Ordinance No. 9394-03, which was passed on <br />February 10, 2003: <br />A. The area is comprised of parcels that are either unimproved or contain only one (1) <br />or two (2) family dwellings designed for up to four (4) families, including accessory <br />buildings for those dwellings; or <br />B. Any dwellings in the area are not permanently occupied and are: <br />i. the subject of an order issued under IC 36-7-9; or <br />ii. evidencing significant building deficiencies; or <br />C. Parcels of property in the area: <br />i. have been sold and not redeemed under IC 6-1.1-24 and IC 6-1.1-25; or <br />ii. are owned by a unit of local government; or <br />D. A significant number of dwelling units within the azea aze not permanently <br />occupied or a significant number of pazcels in the azea are vacant land; or <br />E. A significant number of dwelling units within the azea are: <br />i. the subject of an order issued under IC 36-7-9; or <br />ii. evidencing significant building deficiencies; or <br />F. The azea has experienced a net loss in the number of dwelling units, as documented <br />by census information, local building and demolition permits, or certificates of <br />occupancy, or the azeas are owned by Indiana or the United States; or <br />G. The azea (plus any areas previously ,designated under this subsection) will not <br />exceed ten percent (10%) of the total azea within the Council's jurisdiction. <br />SECTION III. The Common Council also hereby determines and fmds the following: <br />A. That the description of the proposed redevelopment meets the applicable standards <br />for such development. <br />B. That the estimate of the value of the redevelopment is reasonable~for projects of this <br />nature; <br />C. That the other benefits about which information was requested are benefits that can <br />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 local <br />code standards for habitability. <br />F. The deduction will not be allowed unless the dwelling rehabilitation is completed <br />within five (5) calendaz yeazs from the date of the adoption of this Resolution by the <br />Common Council. <br />2 <br />