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REGULAR MEETING FEBRUARY 14, 2000 <br />INDIANA, COMMONLY KNOWN AS 702,73 0, AND 732 <br />PENNSYLVANIA AVENUE RESIDENTIALLY <br />DISTRESSED AREAS FOR PURPOSES OF A FIVE (5) <br />YEAR RESIDENTIAL REAL PROPERTY TAX <br />ABATEMENT FOR AMERICAN HOME DREAMS, INC. <br />WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a <br />Declaratory Resolution designating certain areas within the City as Residentially Distressed Areas <br />for the purpose of tax abatement consideration; and <br />WHEREAS, a Declaratory Resolution designated the area commonly known as 702, 730, <br />and 732 Pennsylvania Avenue, South Bend, Indiana, and which are more particularly described as <br />follows: <br />Street Address Legal Description Key Number <br />732 Pennsylvania Avenue Southeast Neighborhood Redevelopment, 18- 7020 -0818 <br />Phase One, Section Two Subdivision <br />Lot 27 of Southeast Neighborhood <br />Redevelopment, Phase One, Section Three <br />Subdivision <br />730 Pennsylvania Avenue Southeast Neighborhood Redevelopment, 18- 7020 -0819 <br />Phase One, Section Two Subdivision <br />Lot 28 of Southeast Neighborhood <br />Redevelopment, Phase One, Section Three <br />Subdivision <br />702 Pennsylvania Avenue Southeast Neighborhood Redevelopment 18- 7016 -0625 <br />Phase One, Section Two Subdivision <br />Lot 32 of Southeast Neighborhood <br />Redevelopment, Phase One, Section Three <br />Subdivision <br />as a Residentially Distressed Area; and <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before <br />the Council has been published pursuant to Indiana Code 6- 1.1- 12.1 -2.5; and <br />WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances <br />and objections from interested persons; and <br />WHEREAS, the Council has determined that the qualifications for a residentially distressed <br />area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds that the petition for real <br />property tax abatement and the Statement of Benefits form meet the requirements of Indiana Code <br />6 -1.1 -12.1 et se g., for tax abatement. <br />SECTION II. The Common Council hereby determines and finds that the area meets one of <br />the following conditions as formally established in Ordinance No. 8845 -97, which was passed on <br />December 8, 1997: <br />A. The area is comprised of parcels that are either unimproved or contain only <br />one (1) or two (2) family dwellings designed for up to four (4) families, <br />including accessory buildings for those dwellings; or <br />