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REGULAR MEETING <br />JULY 8, 1996 <br />A. At least thirty -five percent (35 %) of the parcels are <br />currently vacant; <br />B. A significant number of dwelling units within the areas <br />are not permanently occupied or a significant number of <br />parcels in the areas are vacant land; <br />C. A significant number of dwelling units in the areas are: <br />I. the subject of an order issued under IC 36 -7 -9; or <br />ii. evidencing significant building deficiencies; <br />D. 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 <br />occupancy, or the areas are owned by Indiana or the United <br />States. <br />E. The areas (plus any areas previously designated) do not <br />exceed ten percent (10 %) of the total area within the <br />designating body's jurisdiction. <br />F. That the description of the proposed redevelopment meets <br />the applicable standards for such development. <br />G. That the estimate of the value of the redevelopment is <br />reasonable for projects of this nature; <br />H. 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 />I. 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 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 the Declaratory Resolution <br />by the Common Council. <br />SECTION IV. The Common Council hereby confirms its Declaratory <br />Resolution designating the areas described herein as <br />Residentially Distressed Areas for the purposes of tax abatement. <br />Such designation is for Real property tax abatement only and is <br />limited to five (5) calendar years from the date of adoption of <br />the Declaratory Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the <br />property owner is qualified for and is granted Real property tax <br />deduction for a period of five (5) years, and further determines <br />that the petition complies with Chapter 2, Article 6, of the <br />Municipal Code of the City of South Bend and Indiana Code 6 -1.1- <br />12.1 et sea. <br />SECTION VI. 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/ Roland Kelly <br />Member of the Common Council <br />RESOLUTION NO. 2382 -96 A RESOLUTION CONFIRMING THE ADOPTION OF <br />A DECLARATORY RESOLUTION DESIGNATING <br />CERTAIN AREAS WITHIN THE CITY OF SOUTH <br />BEND, INDIANA, COMMONLY KNOWN AS LOTS <br />5,6, & 7 JACKSON SUB (UNRECORDED) AS <br />RESIDENTIALLY DISTRESSED AREAS FOR <br />PURPOSES OF A FIVE (5) YEAR REAL <br />PROPERTY RESIDENTIAL TAX ABATEMENT FOR <br />VALUE PLUS CONSTRUCTION, INC. <br />WHEREAS, the Common Council of the City of South Bend, Indiana, <br />has adopted a Declaratory Resolution designating certain areas <br />C <br />