08-11-08 Common Council Minutes - Laserfiche WebLink

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REGULAR MEETINGAUGUST 11, 2008 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. 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 confirms its Declaratory Resolution designating the area described herein as a Residentially Distressed Area for the purposes of tax abatement. Such designation is for Real property tax abatement only and is limited to five (5) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION V. The Common Council hereby determines that the property owner is qualified for and is granted Real property tax deduction for a period of five (5) years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12.1 et seq. SECTION VI. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. s/Timothy A. Rouse Member of the Common Council Mr. Richard Kidder, 54338 Ivy Road, South Bend, Indiana, made the presentation for this bill. Mr. Kidder advised that he and his wife intend to construct a 2,800 square foot, single- family, owner-occupied home. The home will have three bedrooms and three bathrooms with a kitchen, dining room, library, laundry room, and mud room. The price of the home will be approximately $415,000. 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 this Resolution, Councilmember Varner made a motion to adopt this Resolution. Councilmember Oliver Davis seconded the motion which carried and the Resolution was adopted by a roll call vote of seven (7) ayes. BILL NO. 08-72 A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 4201 LINDEN AVENUE AS AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF UP TO A SEVEN (7) YEAR REAL PROPERTY TAX ABATEMENT FOR FOXTROT REALTY CORPORATION 8