Confirming Tax Abatement - South Bend Heritage Foundation 1216 W. Colfax Ave & 119, 123, 124, 127, 128, 131 & 132 Spruce St. (5 Year Residential Property)

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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 sea. 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. PRESENTED L{_ZS_Cj ` NOT APPROVED ?,DOPTE[2 026& -,'V Member of the Common Council OffetCb MAR 3 � 1999 11 LO'."9E:7'3'd'. J. CUDA CITY CLERK, 9D. WEND, 1N.