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07-13-15 Common Council Meeting Minutes
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07-13-15 Common Council Meeting Minutes
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REGULAR MEETING JULY 13, 2015 <br />standards for habitability. <br />F. The deduction will not be allowed unless the dwelling rehabilitation is completed within <br />five (5) calendar years from the date of the adoption of this Resolution by the Common <br />Council. <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 Benefits and <br />the petition for real property tax abatement consideration and that the Statement of Benefits form <br />prescribed by the State Board of Accounts are sufficient to justify the deduction granted under Indiana <br />Code 6 -1.1- 12.1 -3. <br />SECTION V. The Common Council hereby accepts the report and recommendation of the Community <br />Investment Committee that the area herein described be designated as a Residentially Distressed Area <br />and hereby adopts a Resolution designating this area as a Residentially Distressed Area for purposes of <br />real property tax abatement. <br />SECTION VI. The designation as a Residentially Distressed Area shall be limited to two (2) calendar years <br />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 for and is <br />granted a real property tax deduction for a period of five (5) years as shown by the attachment pursuant <br />to Indiana Code 6 -1.1- 12.1 -17. <br />SECTION VIII. The Common Council directs the City Clerk to cause notice of the adoption of this <br />Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code 5 -3 -1 <br />and Indiana Code 6 -1.1- 12.1 -2.5, said publication providing notice of the public hearing before the <br />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 code standards <br />for habitability as a specific condition of having such property designated as a residentially distressed area. <br />SECTION X. This Resolution shall be in full force and effect from and after its adoption by the Common <br />Council and approval by the Mayor. <br />Member of the Common Council <br />Councilmember Gavin Ferlic, Chairperson, Community Investment Committee met this <br />afternoon and send bill 15 -57 to the full Council favorably. <br />Presenter: Brock Zeeb, Department of Community Investment, Offices on the 14" floor — Before <br />you is a residential real property tax abatement for Jeffrey and Marie Spoonhower. They <br />propose to build a $300,000 home on St. Peter's Street just south of Notre Dame. The project is <br />a single family home. The new taxes created over the five (5) year period are $50,441. The <br />15 <br />
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