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SECTION III. The Common Council also hereby determines and finds the following: <br />A. That the description of the proposed redevelopment meets the applicable standards <br />for such development. <br />B. That the estimate of the value of the redevelopment is reasonable for projects of this <br />nature; <br />C. That the other benefits about which information was requested are benefits that can <br />be reasonably expected to result from the proposed described redevelopment; and <br />D. That the totality of benefits is sufficient to justify the requested deduction, all of <br />which satisfy the requirements of Indiana Code 6 -1.1- 12.1 -3. <br />E. The deduction will not be allowed unless the dwelling is rehabilitated to meet local <br />code standards for habitability. <br />F. The deduction will not be allowed unless the dwelling rehabilitation is completed <br />within five (5) calendar years from the date of the adoption of this Resolution by the <br />Common Council. <br />SECTION IV. The Common Council hereby confirms its Declaratory Resolution designating <br />the area described herein as a Residentially Distressed Area for the purposes of tax abatement. <br />Such designation is for Real property tax abatement only and is limited to five (5) calendar years <br />from the date of adoption of the Declaratory Resolution by the Common Council as shown by <br />the attachment pursuant to Indiana Code 6 -1.1- 12.1 -17. <br />SECTION V. The Common Council hereby determines that the property owner is qualified for <br />and is granted Real property tax deduction for a period of five (5) years as shown by the <br />attachment pursuant to Indiana Code 6 -1.1- 12.1 -17, and further determines that the petition <br />complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana <br />Code 6 -1.1 -12.1 et sea. <br />SECTION VI. This Resolution shall be in full force and effect from and after its adoption by the <br />Common Council and approval by the Mayor. <br />Member of the Common Council ' <br />i ound au&Ni tv:i jj 4il P�Ja.v> <br />Filed In Clerk's Office <br />=!T!,04 <br />j 5HN 1'OgS1DE <br />CITY CLERK. SOUTH BENb, IN <br />