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WHEREAS, the Community Investment Committee of the Common Council has <br />reviewed said report and recommended to the Common Council that the area qualifies as a <br />Residentially Distressed Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, 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 meet the requirements of Indiana <br />Code 6 -1.1 -12.1 et seq., for tax abatement. <br />SECTION II. The Common Council hereby determines and finds that the area meets one of the <br />following conditions as formally established in Ordinance No. 9394 -03, which was passed on <br />February 10, 2003: <br />A. The area is comprised of parcels that are either unimproved or contain only one <br />(1) or two (2) family dwellings designed for up to four (4) families, including <br />accessory buildings for those dwellings; or <br />B. Any dwellings in the area are not permanently occupied and are: <br />i. the subject of an order issued under IC 36 -7 -9; or <br />ii. evidencing significant building deficiencies; or <br />C. Parcels of property in the area: <br />i. have been sold and not redeemed under IC 6- I.1 -24 and IC 6- 1.1 -25; or <br />ii, are owned by a unit of local government; or <br />D. A significant number of dwelling units within the area are not permanently <br />occupied or a significant number of parcels in the area are vacant land; or <br />E. A significant number of dwelling units within the area are: <br />i. the subject of an order issued under IC 36 -7 -9; or <br />ii. evidencing significant building deficiencies; or <br />F. The area has experienced a net loss in the number of dwelling units, as <br />documented by census information, local building and demolition permits, or <br />certificates of occupancy, or the areas are owned by Indiana or the United States; <br />or, <br />G. The area (plus any areas previously designated under this subsection) will not <br />exceed ten percent (10 %) of the total area within the Council's jurisdiction. <br />SECTION III. The Common Council also hereby determines and finds the following: <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 projects of <br />this nature; <br />2 <br />