11-24-08 Common Council Minutes - Laserfiche WebLink

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REGULAR MEETING NOVEMBER 24, 2008 G. The area (plus any areas previously designated under this subsection) will not exceed ten percent (10%) of the total area within the Council’s jurisdiction. SECTION III. The Common Council also hereby determines and finds the following: A. That the description of the proposed redevelopment meets the applicable standards for such development. B. That the estimate of the value of the redevelopment is reasonable for projects of this nature; C. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment; and 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 the 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 seq. 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. s/Timothy A. Rouse Member of the Common Council Mr. Derek Spier, Planner, Abonmarche Consultants, LLC, 750 Lincoln Way East, South Bend, Indiana, made the presentation on behalf of the current owner, First Federal Savings Bank and the contingent owner Weiss Homes, Inc. Mr. Spier advised that Sections 2 and 3 of the subject subdivision were each granted five- year residential real property tax abatements on January 27, 2003, and December 8, 2003, respectively, through Common Council Resolution numbers 3156-03 and 3277-03. the Common Council’s resolutions confirmed their earlier declaratory resolutions designating Sections 2 and 3 as Residentially Distressed Areas (RDAs) and those designations were limited to five calendar years from the dates of the adoption of the declaratory resolutions, which were January 13, 2003, and November 24, 2003. The RDA designation is required in order for the developer, First Federal in collaboration with Weiss Homes, to offer tax abatements on the lots remaining to be sold in Section 2 and 3. The two sections contain a total of 83 lots. The two sections are located on approximately 12 acres. Homes will range between 1,800 and 2,900 square feet in size. The estimated average price of the homes if $215,000. A Public Hearing was held on the Resolution at this time. There being no one present wishing to speak to the Council either in favor of or in opposition to this Resolution, Councilmember Dieter made a motion to adopt this Resolution. Councilmember Oliver Davis seconded the motion which carried and the 10