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and which has Key Numbers 18- 2096 -3620, 18- 2096 -3624, 18- 2096 -3633 and 18- 2096 -3637, <br />respectively, be designated as a Residentially Distressed Area under the provisions <br />of Indiana Code 6 -1.1- 12.1 -1 et seq., and South Bend Municipal Code Sections 2 -76 et <br />seq., and; <br />WHEREAS, the Department of Community and Economic Development has concluded an <br />investigation and prepared a report with information sufficient for the Common <br />Council to determine that the area qualifies as a Residentially Distressed Area under <br />Indiana Code 6 -1.1- 12.1 -1, et seq., and South Bend Municipal Code Sections 2 -76, et <br />seq., and has further prepared maps and plats showing the boundaries and such other <br />information regarding the area in question as required by law; and <br />WHEREAS, the Community and Economic Development Committee of the Common Council has <br />reviewed said report and recommended to the Common Council that the area qualifies as <br />a Residentially Distressed Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, <br />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 completed by the Petitioner <br />meet the requirements of Indian a Code 6 -1.1- 12.1 -1, et seq., for tax abatement. <br />A. That the description of the proposed redevelopment meets the applicable <br />standards for such development; <br />B. That the estimate of the value of the redevelopment is reasonable for <br />projects of this nature; <br />C. That the other benefits about which information was requested are benefits <br />that can be reasonably expected to result from the proposed described <br />redevelopment; and <br />D. That the totality of benefits is sufficient to justify the requested <br />deduction, all of which satisfy the requirements of Indiana Code 6 -1.1- 12.1 -3 <br />SECTION III. <br />described rei <br />the Statement <br />Property Tax <br />prescribed by <br />granted under <br />The Common Council hereby <br />ievelopment can be reasonably <br />of Benefits set forth as Sec <br />Abatement Consideration and <br />the State Board of Accounts <br />Indiana Code 6 -1.1- 12.1 -3. <br />determines and finds that the proposed <br />expected to yield benefits identified in <br />Lion I through II of the Petition for Real <br />that the Statement of Benefits form <br />are sufficient to justify the deduction <br />SECTION IV. The Common Council hereby accepts the report and recommendation of the <br />Community and Economic Development Committee that the area herein described be <br />designated as a Residentially Distressed Area and hereby adopts a Resolution <br />designating this area as a Residentially Distressed Area for purposes of real <br />property tax abatement. <br />SECTION V. The designation as a Residentially Distressed Area shall be limited to <br />two (2) calendar years from the date of the adoption of this Resolution by the Common <br />Council. <br />SECTION VI. The Common Council hereby <br />qualified for and is granted property tax d, <br />SECTION VII. The Common Council directs <br />adoption of this Declaratory Resolution <br />published pursuant to Indiana Code 5 -3 -1 <br />publication providing notice of the public <br />proposed confirming of said declaration. <br />determines that the property owner is <br />sduction for a period of five (5) years. <br />the City Clerk to cause notice of the <br />for Real Property Tax Abatement to be <br />and Indiana Code 6 -1.1- 12.1 -2.5, said <br />hearing before the Common Council on the <br />SECTION VIII. This resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approval by the Mayor. <br />/S/ Eugene Ladewski <br />Member of the Common Council <br />A public hearing was held on the resolution at this time. Council Member Kelly <br />reported that the Community and Economic Development Committee had met on this <br />resolution and recommended it to the Council favorable. Barry Adams, of Greater <br />South Bend Development Co., made the presentation for the resolution. He indicated <br />that prospective homeowners would receive grants to reduce their mortgages, thus <br />helping people who never dreamed they could own their own homes. Council Member <br />Coleman made a motion to adopt this resolution, seconded by Council Member Duda. The <br />resolution was adopted by a roll call vote of nine ayes. <br />BILLS, FIRST READING <br />BILL NO. 38 -95 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, <br />ANNEXING TO AND BRINGING WITHIN THE CITY LIMITS OF SOUTH BEND, <br />INDIANA, CERTAIN LAND IN GERMAN TOWNSHIP CONTIGUOUS THEREWITH: TOM <br />THOMPSON AND ED SMITH <br />This bill had first reading. Council Member Coleman made a motion to set this bill <br />for public hearing and third reading on August 14, and refer it to the Zoning and <br />Annexation Committee, seconded by Council Member Duda. The motion carried. <br />UNFINISHED BUSINESS <br />