Laserfiche WebLink
SECTION IV. The Common Council hereby determines and finds that the proposed <br />described redevelopment can be reasonably expected to yield benefits identified in the <br />Statement of Benefits and the petition for real property tax abatement consideration and that <br />the Statement of Benefits form prescribed by the State Board of Accounts are sufficient to <br />justify the deduction granted under Indiana Code 6 -1.1- 12.1 -3. <br />SECTION V. The Common Council hereby accepts the report and recommendation of the <br />Community and Economic Development Committee that the area herein described be <br />designated as a Residentially Distressed Area and hereby adopts a Resolution designating <br />this area as a Residentially Distressed Area for purposes of real property tax abatement. <br />SECTION VI. The designation as a Residentially Distressed Area shall be limited to five <br />(5) calendar years from the date of the adoption of this Resolution by the Common Council. <br />SECTION VII. The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax deduction for a period of five (5) years. <br />SECTION VIII. The Common Council directs the City Clerk to cause notice of the adoption <br />of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to <br />Indiana Code 5 -3 -1 and Indiana Code 6- 1.1- 12.1 -2.5, said publication providing notice of the <br />public hearing before the Common Council on the proposed confirming of said declaration. <br />SECTION IX. Pursuant to Indiana Code 6 -1.1- 12.1 -2, the rehabilitation must meet all local <br />code standards for habitability as a specific condition of having such property be designated <br />as a residentially distressed area. <br />SECTION X. This Resolution shall be in full force and effect from and after its adoption by <br />the Common Council and approval by the Mayor. <br />PRESENTED 7 -1 l- 63 <br />NOT APPROVED <br />%DOPTED 7 -1 \�- 03 <br />of the Common Council <br />Filed in Clerk's Office <br />E JUL H-- E <br />LORPTAJ. UDA <br />CITY O LEHK, 8O. SEND, RL <br />