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REGULAR MEETING MARCH 22, 2004 <br /> census information,local building and demolition permits,or certificates of occupancy, <br /> 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 exceed <br /> ten percent (10%) of the total area within the Council's 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 standards for <br /> 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 be <br /> 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 which <br /> 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 code <br /> standards for habitability. <br /> F. The deduction will not be allowed unless the dwelling rehabilitation is completed within <br /> five(5)calendar years from the date of the adoption of this Resolution by the Common <br /> Council. <br /> SECTION IV. The Common Council hereby confirms its Declaratory Resolution designating the <br /> area described herein as a Residentially Distressed Area for the purposes of tax abatement. Such <br /> designation is for Real property tax abatement only and is limited to five(5)calendar years from the <br /> date of adoption of the Declaratory Resolution by the Common Council. <br /> SECTION V. The Common Council hereby determines that the property owner is qualified for and <br /> is granted Real property tax deduction for a period of five(5)years, and further determines that the <br /> petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and <br /> 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 adoption by the <br /> Common Council and approval by the Mayor. <br /> s/Karen L. White <br /> Member of the Common Council <br /> Mr. Bernard Feeney, Registered Land Surveyor, 715 S. Michigan Street, South Bend, Indiana, <br /> made the presentation for this bill. <br /> Mr. Feeney advised that the petitioner Woodhaven, LLC.,proposes to develop eighteen (18) . <br /> stick-built family homes in Section One of the Emerson Forest Subdivision. The homes will be <br /> one and two story homes and the average cost will be approximately$125,000.00. <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 opposition to <br /> this Resolution, Councilmember Puzzello made a motion to adopt this Resolution. <br /> Councilmember Coleman seconded the motion which carried and the Resolution was adopted by <br /> a roll call vote of nine (9) ayes. <br /> -12- <br />