07-10-95 Council Meeting Minutes

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