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02-24-03 Council Meeting Minutes
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02-24-03 Council Meeting Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
2/24/2003
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REGULAR MEETING FEBRUARY 24, 2003 <br />SECTION IV. The Common Council hereby accepts the report and recommendation of the Human <br />Resources and Economic Development Committee that the area herein described be designated an <br />Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic <br />Revitalization Area for purposes of real property tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) <br />calendar years from the date of the adoption of this Resolution by the Common Council. <br />SECTION VI. The Common Council hereby determines that the property owner is qualified for and <br />is granted property tax deduction for a period of ten (10) years. <br />SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this <br />Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code <br />5 -3 -1 and Indiana Code 6- 1.1- 12.1 -2.5, said publication providing notice of the public hearing before <br />the Common Council on the proposed confirming of said declaration. <br />SECTION VIII. 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 />Councilmember King, Chairperson, Community and Economic Development Committee, reported <br />that this committee held a Public Hearing on this bill this afternoon and sends it to the Council with <br />a favorable recommendation. <br />Mr. Bruce Yerry, 51591 Straton Court, Granger, Indiana, made the presentation for this bill. <br />Mr. Yerry advised that Rescue, Inc. is the owner of the property at 432 South Lafayette Street. The <br />site is the former Ries Furniture Store. In response to the growing number of homeless families in <br />our community, Rescue, Inc. is responding with a complete renovation of the building as a new <br />shelter for families, which will be called the Family Life Center. A portion of the building will be <br />leased to Hope Housing L.P. which will own thirty -four (34) units of transitional housing. The <br />housing will be owned by the limited partnership because the partnership will receive funding <br />through the Low Income Housing Tax Credit Program. Hope Housing will be responsible for real <br />property taxes on the portion of the building that they will own, and they are seeking a ten (10) year <br />abatement on that portion. <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 this <br />Resolution, Councilmember Pfeifer made a motion to adopt this Resolution. Councilmember <br />Coleman seconded the motion which carried and the Resolution was adopted by a roll call vote of <br />eight (8) ayes. <br />
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