HomeMy WebLinkAboutRecognizing the Need for a New Federal Income Tax credit to encourage the Rehabilitation of Historic BuildingsRESOLUTION
NO. 2256 -95
Passed by the Common Council of the City of South Bend, Indiana
June 12, 19 95
/((- / K �< J City Clerk
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
June 13, 95
19
City Clerk
Approved and signed by me 19j�.
e fir^ "", Mayor
BILL NO. p� Q
RESOLUTION NO. �( L /6
A RESOLUTION RECOGNIZING THE NEED FOR A NEW FEDERAL INCOME TAX
CREDrr TO ENCOURAGE THE REHABILITATION OF HISTORIC BUILDINGS
FOR HOMEOWNERS IN THE CITY OF SOUTH BEND, INDIANA AND URGING
ENACTMENT BY CONGRESS OF THE "HISTORIC HOMEOWNERSHIP
ASSISTANCE ACT".
'UU btrtos, the abandonment and destruction of older and historic buildings
presents a growing threat to the public safety and the social and fiscal well being of the
citizens of South Bend, Indiana; and
MtrtaO, more than 235 houses have been caused to be demolished due to lack
of maintenance investment in the City of South Bend, Indiana during the period from
January 1, 1990 and December 31, 1994; and
'UVbtrt4g, there are not at present sufficient financial incentives to attract
homeowners to rehabilitate older buildings in such struggling, distressed, declining, and
threatened neighborhoods as West Washington and Chapin Park National Register
Historic Districts: Riverside Drive, River Bend, Edgewater Place, and Lincolnway East
Local Historic Districts; other eligible neighborhoods such as St. Adalbert Parish, St.
Casimir Parish, Monroe Park, Rum Village, and Howard Park, and at isolated landmark
buildings in other neighborhoods; and
'UU bl=as, a strong base of homeowners is essential to the civic and economic
health of this community and its tax base; and
WU trttl8, there has been introduced into the Congress the "Historic
Homeownership Assistance Act" which would provide homeownership incentives for the
rehabilitation of older buildings in historic districts through a Federal Historic Preservation
Tax Credit for homeowners; and
"D btrtgg, the City of South Bend, Indiana has established a Historic
Preservation Commission with the capability of promoting and enabling the certification of
such tax credits for the purpose of historic preservation; and
9 b9Vta(.g, the "Historic Homeownership Assistance Act" would stimulate the
revival of decaying neighborhoods and the preservation of historic buildings and districts
in the City of South Bend, Indiana through homeownership.
Ado, tbertfort, bt it rtOOIDO by tbt common Coutxcil of the CUP of
�&Utb 19=4, Vuhaug, as follows:
SECTION I. The Common Council of the City of South Bend, Indiana supports,
endorses, and encourages the prompt enactment of the "Historic Homeownership
Assistance Act" by Congress.
SECTION II. The Common Council requests the City Clerk to send a copy of this
Resolution to the entire Congressional Delegation of the State of Indiana.
SECTION III. This Resolution shall be in full force and effect from and after its
adoption by the Common Council and approval by th7;�2
u �
r of moron Council
`�tttSt:
Irene K. Gammon, City Clerk
PRESENTED 6-12 -95
NOT APPROYM
ADOPTED 6-12-95
Toseph E. Kernan, MayorKernan, Mayor