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be reasonably expected to result from the proposed described redevelopment; and <br /> D. 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 /> E. The deduction will not be allowed unless the dwelling is rehabilitated to meet local <br /> code standards for habitability. <br /> F. 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 /> SECTION IV. The Common Council hereby confirms its Declaratory Resolution designating the <br /> area described herein as a Residentially Distressed Area for the purposes of tax abatement. Such <br /> designation is for Real property tax abatement only and is limited to two (2) calendar years from <br /> the date of adoption of the Declaratory Resolution by the Common Council as shown by the <br /> attachment pursuant to Indiana Code 6-1.1-12.1-17. <br /> SECTION V. The Common Council hereby determines that the property owner is qualified for <br /> and is granted a real property tax deduction for a period of five (5) years as shown by the <br /> attachment pursuant to Indiana Code 6-1.1-12.1-17, and further determines that the petition <br /> complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana <br /> Code 6-1.1-12.1 et seq. <br /> SECTION VI. This Resolution shall be in full force and effect from and after its adoption by the <br /> Common Council and approval by the Mayor. <br /> Member of t - s Council <br /> Filed in CIervs Office <br /> PRESENTED CU - -�r <br /> JOHN VOONDE <br /> NOT APPR©AC CITY CLERK,SOUTH SEND,IN <br />