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REGULAR MEETING SEPTEMBER 11, 2006 <br />States; or <br />G. The area (plus any areas previously designated under this subsection) will <br />not exceed ten percent (10%) of the total area within the Council’s <br />jurisdiction. <br />SECTION III. The Common Council also hereby determines and finds the following: <br />A. That the description of the proposed redevelopment meets the applicable <br />standards for such development; <br />B. That the estimate of the value of the redevelopment is reasonable for <br />projects of this nature; <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 />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 />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 />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 /> s/Timothy A. Rouse <br /> Member of the Common Council <br />Mr. J. Bernard Feeney, Lang, Feeney & Associates, Inc., 715 South Michigan Street, <br />South Bend, Indiana, made the presentation for this bill on behalf of the owner Ullery <br />Development, LLC. <br />Mr. Feeney advised that Ullery Development intends to construct (8) eight, new, single- <br />family homes on 1.98 acres of land on urban infill lots. The homes will consist of two or <br />three bedrooms and two baths, ranging in size from 1,463 to 1,906 square feet with eight- <br />foot basement walls, a 23’ x 24 foot attached garage, covered patio, optional fireplaces, <br />and vinyl siding with stone and/or brick accents. Stove, dishwasher, microwave, and <br />garbage disposal are included. Each home will be built on a minimum 66’ x 138 foot lot <br />which will have sod, sprinklers, and landscaping. The estimated price of each home will <br />be between $190,000 to $300,000. <br />A Public Hearing was held on the Resolution at this time. <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this Resolution, Councilmember Kelly made a motion to adopt this <br />Resolution. Councilmember Kuspa seconded the motion which carried and the <br />Resolution was adopted by a roll call vote of eight (8) ayes. <br />16 <br /> <br />