5015-23 Designating 5-Year Tax Abatement Properties: 724 & 726 Harrison Ave. South Bend, IN

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SECTION II. The Common Council hereby determines and finds that the area meets one of the following conditions as formally established in Ordinance No. 9394-03, which was passed on February 10, 2003: A. The area is comprised of parcels that are either unimproved or contain only one- family (1) or two-family (2) dwellings designed for up to four (4) families, including accessory buildings for those dwellings; or B. Any dwellings in the area are not permanently occupied and are: i. the subject of an order issued under Indiana Code 36-7-9; or ii. evidencing significant building deficiencies; or C. Parcels of property in the area: i. have been sold and not redeemed under Indiana Code 6-1.1-24 and Indiana Code 6-1.1-25; or ii. are owned by a unit of local government; or D. A significant number of dwelling units within the area are not permanently occupied or a significant number of parcels in the area are vacant land; or E. A significant number of dwelling units within the area are: i. the subject of an order issued under Indiana Code 36-7-9; or ii. evidencing significant building deficiencies; or F. The area has experienced a net loss in the number of dwelling units, as documented by census information, local building and demolition permits, or certificates of occupancy, or the areas are owned by Indiana or the United States; or G. The area (plus any areas previously designated under this subsection) will not exceed ten percent(10%) of the total area within the Council's jurisdiction. SECTION III. The Common Council also hereby determines and finds the following: A. That the description of the proposed redevelopment meets the applicable standards for such development; B. That the estimate of the value of the redevelopment is reasonable for projects of this nature; C. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment; D. That the totality of benefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code 6-1.1-12.1-3; E. That the deduction will not be allowed unless the dwelling is rehabilitated to meet local code standards for habitability; and F. That the deduction will not be allowed unless the dwelling rehabilitation is completed by December 31, 2025. SECTION IV. The Common Council hereby determines and finds that the proposed described redevelopment can be reasonably expected to yield benefits identified in the Statement of Benefits and the petition for real property tax abatement consideration and that the Statement of Benefits form prescribed by the State Board of Accounts are sufficient to justify the deduction granted under Indiana Code 6-1.1-12.1-3. SECTION V. The Common Council hereby accepts the report and recommendation of the Community Investment Committee that the area herein described be designated as a Residentially