Confirming Tax Abatement - 1142 Sorin, 1624 Dunham, 2221 Smith, 616 and 620 Walnut and 105, 109, and 113 Carlisle - Habitat for Humanity of St. Joseph County

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G. The azea (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 standazds 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) calendaz years from the date of 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) yeazs, 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 se . 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. /~ Member of the on Council NOT APPROVED ADOPTER ~ s -~_ 0 So 3 Filcd nl Clerk's ©#fice APR 1 ~ 2005 J4'it~ VCDr~"E CITY CL'cRK, S0. C=~D, IN.