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REGULAR MEETINGOCTOBER 8, 2007 <br /> <br /> <br /> <br />C. That the other benefits about which information was requested are benefits <br />that can be reasonably expected to result from the proposed described <br />redevelopment; and <br />D. That the totality of benefits is sufficient to justify the requested deduction, <br />all of 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 <br />meet local code standards for habitability. <br />F. The deduction will not be allowed unless the dwelling rehabilitation is <br />completed within five (5) calendar years from the date of the adoption of <br />this Resolution by the Common Council. <br /> <br /> <br />SECTION IV. The Common Council hereby confirms its Declaratory Resolution <br />designating the area described herein as a Residentially Distressed Area for the purposes <br />of tax abatement. Such designation is for Real property tax abatement only and is limited <br />to five (5) calendar years from the date of adoption of the Declaratory Resolution by the <br />Common Council. <br /> <br />SECTION V. The Common Council hereby determines that the property owner is <br />qualified for and is granted Real property tax deduction for a period of five (5) years, and <br />further determines that the petition complies with Chapter 2, Article 6, of the Municipal <br />Code of the City of South Bend and Indiana Code 6-1.1-12.1 et seq. <br /> <br />SECTION VI. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approval by the Mayor. <br /> <br /> s/Timothy A. Rouse <br /> Member of the Common Council <br /> <br />Ms. Violet Schorsch, Habitat for Humanity, 402 E. South Street, South Bend, Indiana, <br />made the presentation for this bill. <br /> <br />Ms. Schorsch advised that Habitat for Humanity palns to build a new, single-family <br />residence with three bedrooms and one bathroom. The home will have 1,120 square feet <br />and it will be built with a four-foot crawl space. Habitat will use volunteer labor and <br />donated materials to build the home. The price of the home will be $65,000. The lot is <br />currently owned by the City of South Bend. Habitat for Humanity intends to purchase <br />the lot, construct the house and then offer the property for sale to qualified, low-income <br />families using a no-interest loan and mortgage. <br /> <br />A Public Hearing was held on the Resolution at this time. <br /> <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this Resolution, Councilmember Dieter made a motion to adopt this <br />Resolution. Councilmember Puzzello seconded the motion which carried and the <br />Resolution was adopted by a roll call vote of eight (8) ayes. <br /> <br /> <br /> <br />BILL NO. 07-122 A RESOLUTION CONFIRMING THE <br /> ADOPTION OF A DECLARATORY <br /> RESOLUTION DESIGNATING CERTAIN <br /> AREAS WITHIN THE CITY OF SOUTH BEND, <br /> INDIANA, COMMONLY KNOWN AS VACANT <br /> LAND IN THE AIRPORT DEVELOPMENT <br /> AREA AS AN ECONOMIC REVITALIZATION <br /> AREA FOR PURPOSES OF A SEVEN-YEAR <br /> REAL PROPERTY TAX ABATEMENT FOR <br /> OLIVE CLEVELAND PARTNERS LLC. <br /> <br /> <br /> <br /> 27 <br /> <br />