Laserfiche WebLink
REGULAR MEETING <br />JUNE 22, 1998 <br />OR <br />C. The areas have experienced a net loss in the number of <br />dwelling units, as documented by census information, local <br />building and demolition permits or certificates of occupancy, or <br />the areas are owned by Indiana or the United States. <br />OR <br />D. The areas (plus any areas previously designated) do not <br />exceed ten percent (10 %) of the total area within the designating <br />body's jurisdiction. <br />SECTION III. The Common Council also hereby determines and finds <br />the following: <br />A. The deduction will not be allowed unless the dwelling is <br />rehabilitated to meet local code standards for habitability. <br />B. The deduction will not be allowed unless the dwelling <br />rehabilitation is completed within five (5) calendar years <br />from the date of the adoption of this Resolution by the <br />Common Council. <br />C. That the description of the proposed redevelopment meets <br />the applicable standards for such development. <br />D. That the estimate of the value of the redevelopment is <br />reasonable for projects of this nature; <br />E. That the other benefits about which information was <br />requested are benefits that can be reasonably expected to <br />result from the proposed described redevelopment; and <br />F. That the totality of benefits is sufficient to justify <br />the requested deduction, all of which satisfy the <br />requirements of Indiana Code 6 -1.1- 12.1 -3. <br />SECTION IV: The Common Council hereby determines and finds that <br />the proposed described redevelopment can be reasonably expected <br />to yield benefits identified in the Statement of Benefits and the <br />petition for real property tax abatement consideration and that <br />the Statement of Benefits form prescribed by the State Board of <br />Accounts are sufficient to justify the deduction granted under <br />Indiana Code 6 -1.1- 12.1 -3. <br />SECTION V. The Common Council hereby accepts the report and <br />recommendation of the Community and Economic Development <br />Committee that the areas herein described be designated as <br />Residentially Distressed Areas and hereby adopts a Resolution <br />designating these areas as Residentially Distressed Areas for <br />purposes of real property tax abatement. <br />SECTION VI. The designation as a Residentially Distressed Areas <br />shall be limited to five (5) calendar years from the date of the <br />adoption of this Resolution by the Common Council. <br />SECTION VII. The Common Council hereby determines that the <br />property owner is qualified for and is granted property tax <br />deduction for a period of five (5) years. <br />SECTION VIII. The Common Council directs the City Clerk to cause <br />notice of the adoption of this Declaratory Resolution for Real <br />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 <br />notice of the public hearing before the Common Council on the <br />proposed confirming of said declaration. <br />SECTION IX. Pursuant to Indiana Code 6 -1.1- 12.1 -2, the <br />rehabilitation must meet all local code standards for <br />habitability as a specific condition of having such properties be <br />designated as residentially distressed areas. <br />SECTION X. This Resolution shall be in full force and effect <br />from and after its adoption by the Common Council and approval by <br />the Mayor. <br />/s/ Sean Coleman <br />Member of the Common Council <br />