09-22-03 Council Meeting Minutes

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REGULAR MEETING SEPTEMBER 22, 2003 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 and Economic Development Committee that the area herein described be designated as a Residentially Distressed Area and hereby adopts a Resolution designating this area as a Residentially Distressed Area for purposes of real property tax abatement. SECTION VI. The designation as a Residentially Distressed Area shall be limited to five (5) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VII. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of five (5) years. SECTION VIII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code 5 -3 -1 and Indiana Code 6-1.1-12.1-2.5, said publication providing notice ofthe public hearing before the Common Council on the proposed confirming of said declaration. SECTION IX. Pursuant to Indiana Code 6 -1.1- 12.1 -2, the rehabilitation must meet all local code standards for habitability as a specific condition of having such property be designated as a residentially distressed area. SECTION X. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. s /Sean Coleman Member of the Common Council Councilmember King, Chairperson, Community and Economic Development Committee, reported that this committee held a Public Hearing on this bill this afternoon and voted to send it to the full Council with a favorable recommendation. Mr. Joseph Saviano, 18457 Kern Road, South Bend, Indiana, made the presentation for this bill. Mr. Saviano informed the Council that he plans to build twelve (12) new homes on the above identified lots. The homes will range from eight hundred (800) to one thousand (1,000) square feet between two (2) and three (3) bedrooms and one (1) full bath. Some will be on a crawl space and some with a full basement with a one (1) car garage. The approximate value of the homes will be around seventy -five thousand dollars ($75,000.00) making the total project approximately nine hundred thousand dollars ($900,000.00). A Public Hearing was held on the Resolution at this time. There being no one present wishing to speak to the Council either in favor of or in opposition to this Resolution, Councilmember Varner made a motion to adopt this Resolution. Councilmember King -- - - - -A- Amt----- i._. -..,_ _, , ,., ,-, 1 , I „ „ „ I ,., -.