Confirming Tax Abatement - SFI/LDI Partnership Lots 4-5, 5a, 11-12, 12a, 13, 13a, 14-16 Southfield Subdivision Section 1a (5 Year Residential Property)

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RESOLUTION NO. A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS LOTS #4, 5, 5a, 11, 12, 12a, 13, 13a, 14, 15 AND 16 - SOUTHFIELD • SUBDIVISION SECTION la RESIDENTIALLY DISTRESSED AREAS FOR PURPOSES OF A FIVE (5) YEAR RESIDENTIAL REAL PROPERTY TAX ABATEMENT FOR SFI /LDI PARTNERSHIP WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Residentially Distressed Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as Lots #4, 5, 5a, 11, 12, 12a, 13, 13a, 14, 15 and 16 - Southfield Subdivision Section la, South Bend, Indiana, and which are more particularly described as follows: Street Address Legal Descri to ion Key Number 6304 Cedar Court Lot #4 Southfield Subdivision Section la 23- 1037 -2073* 6303 Cedar Court Lot #5 Southfield Subdivision Section la 6301 Cedar Court Lot #5a Southfield Subdivision Section la 6306 Maple Court Lot #11 Southfield Subdivision Section la 6304 Maple Court Lot #12 Southfield Subdivision Section la 6302 Maple Court Lot #12a Southfield Subdivision Section la 6301 Maple Court Lot #13 Southfield Subdivision Section la 6303 Maple Court Lot #13a Southfield Subdivision Section la 6305 Maple Court Lot #14 Southfield Subdivision Section la 6307 Maple Court Lot #15 Southfield Subdivision Section la 6309 Maple Court Lot #16 Southfield Subdivision Section la (* - the master key number is currently being split and separate key numbers will be assigned to each of the above lots) as a Residentially Distressed Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6- 1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council lias determined that the qualifications for a residentially distressed area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds that the petition for real property tax abatement and the Statement of Benefits form meet the requirements of Indiana Code 6 -1.1 -12.1 et seq., for tax abatement. SECTION II. The Common Council hereby determines and finds that the area meets one of the following conditions as formally established in Ordinance no. 8845 -97, which was passed on December 8, 1997: A. The area is comprised of parcels that are either unimproved or contain only one (1) or two (2) family dwellings designed for up to four (4) families, including accessory buildings for those dwellings; or