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ii. evidencing significant building deficiencies; or <br />F. The area has experienced a net loss in the number of dwelling units, as documented <br />by census information, local building and demolition permits, or certificates of occupancy, <br />or the areas are owned by Indiana or the United States; or <br />G. The area (plus any areas previously designated under this subsection) will not exceed <br />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 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 the <br />areas described herein as Residentially Distressed Areas for the purposes of tax abatement. Such <br />designation is for Real property tax abatement only and is limited to five (5) calendar years from <br />the date of adoption of the Declaratory Resolution by the Common Council. <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, and further determines <br />that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South <br />Bend and Indiana 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 />PPESENTED-.,,, t-2 - -1-`,�3 <br />NOT APPROVED. <br />ADOPTED, <br />eX6,tl <br />Member of the Common Coulicil <br />Filed In Clerk's Office <br />JAN 2 q 2003 <br />ORYOLiRK,BO MMIRL <br />