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HomeMy WebLinkAboutDesignating Tax Abatement - Value Plus Construction Inc. Lot 5-7 Jackson Sub (unrecoreded) (5 Year Real Property)Attest RESOLUTION NO. 2368 -96 Passed by the Common Council of the City of South Bend, Indiana June 10, 96 19 Clerk Presented by me to the Mayor of the City of South Bend, Indiana June 11, 96 of Common Council. City Clerk Approved and signed by me 190/_. Mayor RESOLUTION NO. 68- 96 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS LOTS 59 6 & 7, JACKSON SUB (UNRECORDED) AS RESIDENTIALLY DISTRESSED AREAS FOR PURPOSES OF A FIVE (5) YEAR REAL PROPERTY RESIDENTIAL TAX ABATEMENT FOR VALUE PLUS CONSTRUCTION, INC. WHEREAS, a Statement of Benefits and a petition for real property tax abatement has been submitted to and filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana requesting that the areas commonly known as Lots 5, 6 & 7, Jackson Sub (unrecorded), South Bend, Indiana, and which are more particularly described as follows: LOTS 5, 6 & 7, JACKSON SUB (UNRECORDED) which have tax key numbers 18- 2111 -4089, 18- 2111 -4088 and 18- 2111 -4084 respectively, be designated as Residentially Distressed Areas under the provisions of Indiana Code 6 -1.1 -12.1 et sea., and South Bend Municipal Code Sections 2 -76 et sea., and; WHEREAS, the Department of Community and Economic Development has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the areas qualify as Residentially Distressed Areas under Indiana Code 6 -1.1- 12.1, et �Q., and South Bend Municipal Code Sections 2 -76, etsea., and has further prepared maps and plats showing the boundaries and such other information regarding the areas in question as required by law; and WHEREAS, the Community and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the areas qualify as Residentially Distressed Areas. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds that the petition for real property tax abatement and the Statement of Benefits form meet the requirements of Indiana Code 6 -1.1 -12.1 et sea., for tax abatement. SECTION II. The Common Council hereby determines and finds the following: A. At least thirty -five percent (35 %) of the parcels are currently vacant; B. A significant number of dwelling units within the areas are not permanently occupied or a significant number of parcels in the areas are vacant land; C. A significant number of dwelling units in the areas are: i. the subject of an order issued under IC 36 -7 -9; or ii. evidencing significant building deficiencies; D. The areas have experienced a net loss in the number of dwelling units, as documented by census information, local building and demolition permits, or certificates of occupancy, or the areas are owned by Indiana or the United States. E. The areas (plus any areas previously designated) do not exceed ten percent (10 %) of the total area within the designating body's jurisdiction. F. That the description of the proposed redevelopment meets the applicable standards for such development. G. That the estimate of the value of the redevelopment is reasonable for projects of this nature; H. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment; and I. 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. SECTION III. The Common Council also hereby determines and finds the following: A. The deduction will not be allowed unless the dwelling is rehabilitated to meet local code standards for habitability. B. 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 determines and finds that the proposed described redevelopment can be reasonably expected to yield benefits identified in the Statement of Benefits and the petition for real property tax abatement consideration and that the Statement of Benefits form prescribed by the State Board of Accounts are sufficient to justify the deduction granted under Indiana Code 6 -1.1- 12.1 -3. SECTION V. The Common Council hereby accepts the report and recommendation of the Community and Economic Development Committee that the areas herein described be designated as Residentially Distressed Areas and hereby adopts a Resolution designating these areas as Residentially Distressed Areas for purposes of real property tax abatement. SECTION VI. The designation as a Residentially Distressed Areas shall be limited to five (5) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VII. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of five (5) years. SECTION VIII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code 5 -3 -1 and Indiana Code 6- 1.1- 12.1 -2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION IX. Pursuant to Indiana Code 6- 1.1- 12.1 -2, the rehabilitation must meet all local code standards for habitability as a specific condition of having such properties be designated as residentially distressed areas. SECTION X. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. P:UffiSE\TAXABATE\ABATES96 \V ALPLUS3.RES PRESENTED (0— 0/0 � /1� NOT APPR /0. OVE ADOPTED ( —/O %' / Member of the Common Counpff rMiCed—In 'Clerk's office 2 Lov cLERK, ETTA A DUDA SO. BEND, IN.