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D. The areas (plus any areas previously designated) do not exceed ten percent (10 %) <br />of the total area within the designating body's jurisdiction. <br />SECTION III. The Common Council also hereby determines and finds the following: <br />A. The deduction will not be allowed unless the dwelling is rehabilitated to meet local <br />code standards for habitability. <br />B. 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 />C. That the description of the proposed redevelopment meets the applicable standards <br />for such development. <br />D. That the estimate of the value of the redevelopment is reasonable for projects of this <br />nature; <br />E. 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 />F. 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 />SECTION IV. The Common Council hereby determines and finds that the proposed described <br />redevelopment can be reasonably expected to yield benefits identified in the Statement of <br />Benefits and the petition for real property tax abatement consideration and that the Statement of <br />Benefits form prescribed by the State Board of Accounts are sufficient to justify the deduction <br />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 areas herein described be designated <br />as Residentially Distressed Areas and hereby adopts a Resolution designating these areas as <br />Residentially Distressed Areas for purposes of real property tax abatement. <br />SECTION VI. The designation as Residentially Distressed Areas shall be limited to five (5) <br />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 qualified <br />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 properties be designated <br />as residentially distressed areas. <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 />Member of the Common Coun l <br />H:\HOME\MBEITZIN\WP\TAXABATF\ABATES97\SBHERrr4.RFS <br />PRESENTED;;?�// �7 2 <br />NOT APPQVW <br />ADOPIBQ CJ - [ / _ 97 <br />Filets in Off c c <br />.:EP -; M7 <br />-__j <br />LOM-rTA J. UU13A <br />CITY CLERK, SO. MM £P7. <br />