06-14-99 Council Meeting Minutes

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REGULAR MEETING JUNE 14, 1999 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; and D. That the totality ofbenefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code 6- 1.1- 12.1 -3. E. The deduction will not be allowed unless the dwelling is rehabilitated to meet local code standards for habitability. F. The deduction will not be allowed unless the dwelling rehabilitation is completed within five (5) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION IV. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as a Residentially Distressed Area for the purposes of tax abatement. Such designation is for Real property tax abatement only and is limited to five (5) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION V. The Common Council hereby determines that the property owner is qualified for and is granted Real property tax deduction for a period of five (5) years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6 -1.1 -12.1 et sea. SECTION VI. 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 Mr. Michael E. Urbanski, Garden Homes, 17874 State Road 23, South Bend, Indiana, was present and informed the Council that a Limited Power of Attorney has been submitted to the City Clerk giving him authorization to represent Mr. Terry L. Troyer, Troyer Group, 1350 Southfield Circle, South Bend, Indiana, who is a partner of SFI/LDI Partnership, in regards to this tax abatement petition. Mr. Urbanski stated that five (5) or six (6) houses have already been sold for this subdivision. A Public Hearing was held on the Resolution at this time. There being no one present wishing to address the Council either in favor of or in opposition to this Resolution, Councilmember Ujdak made a motion to adopt this Resolution. Councilmember Sniadecki seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. RESOLUTION NO. 2750 -99 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 1423 AND 1430 FOREST VIEW COURT AS A RESIDENTIALLY DISTRESSED AREA FOR PURPOSES OF A FIVE (5) YEAR RESIDENTIAL REAL PROPERTY TAX ABATEMENT FOR SFI /LDI PARTNERSHIP (SOUTHFIELD SUBDIVISION) WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Residentially Distressed Areas 1 [1 1