07-08-13 Common Council Meeting Minutes

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REGULAR MEETING JULY 8, 2013 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. 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 determines and finds that the proposed described redevelopment can be reasonably expected to yield benefits identified in the Statement of Benefits and the petition for real property tax abatement consideration and that the Statement of Benefits form prescribed by the State Board of Accounts are sufficient to justify the deduction granted under Indiana Code 6-1.1-12.1-3. SECTION V. The Common Council hereby accepts the report and recommendation of the Community Investment 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 VI. The designation as a Residentially Distressed Area shall be limited to five (5) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VII. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of five (5) years. SECTION VIII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code 5-3-1 and Indiana Code 6-1.1-12.1-2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION IX. Pursuant to Indiana Code 6-1.1-12.1-2, the rehabilitation must meet all local code standards for habitability as a specific condition of having such property designated as a residentially distressed area. SECTION X. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. s/Derek Dieter Member of the Common Council Daryl Knip, Abonmarche Consultants, Inc., 750 Lincolnway East, South Bend, Indiana, made the presentation for the Resolutions on behalf of the owner/developer Tampico Developments, LLC. He advised that they are requesting a new five (5) year Residential Property Tax Abatement and an extension. He stated since the initial tax abatement was granted in 2008, the housing market slowed considerably; therefore, only 18 lots out of the proposed 80 lots in the initial tax abatement is scheduled to expire later this year. The extension is for Lot 3 Crescent Oaks, Section 1A. He stated that this property is the last remaining lot to be developed within this section of Crescent Oaks. All the other lots within this section have been developed and are benefitting from the tax abatement. This resolution would allow the owner/developer to extend the tax abatement for an additional year so that they can continue to market this lot with the same benefit. He respectfully requested the Council’s favorable consideration. A Public Hearing was held on the Resolution at this time. There being no one present wishing to speak to the Council either in favor of or in opposition to these Resolutions, Councilmember Oliver Davis made a motion to adopt Bill No. 13-41. 20