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REGULAR MEETINGFEBRUARY 28, 2005 <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 projects of <br />this nature; <br />C. That the other benefits about which information was requested are benefits that <br />can be reasonably expected to result from the proposed described redevelopment; and <br />D. That the totality of benefits is sufficient to justify the requested deduction, all of <br />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 meet <br />local code standards for habitability. <br />F. The deduction will not be allowed unless the dwelling rehabilitation is completed <br />within five (5) calendar years from the date of the adoption of this Resolution by the <br />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/Charlotte D. Pfeifer <br /> Member of the Common Council <br />Mr. Bernie Feeney, Registered Land Surveyor, 715 South Michigan Street, South Bend, <br />Indiana, made the presentation for this bill of behalf of the petitioners, Hidden Creek <br />Subdivision as well as the builders Place Builders, Inc., and Crystal Bay Builders. <br />Mr. Feeney advised that this subdivision is located on the South side of South Bend, <br />Indiana, approximately ½ mile south of the by-pass and approximately ½ to ¾ of a mile <br />west of U.S. 31 at the end of Jackson Road. There are seventy-one (71) single-family <br />lots proposed for this subdivision, which will connect to Jackson Road as its primary <br />source of egress and ingress. The average size of these lots is 12,500 square feet well in <br />excess of the average square footage for City lots. There are 3,426 lineal feet of new <br />streets proposed for this subdivision, as well as sanitary sewer, water main, streets, <br />sidewalks, and normal City improvements. The current assessed value of this piece of <br />property is $5,600.00. Taxes paid over the last two years have amounted to $120.00 per <br />year. The estimated completed value of the project at 11,715,000.000 with all <br />improvements in place and we expect the range of homes being built on this project to be <br />$135,000 to $200,000. <br />There was no one present wishing to speak to the Council in favor of this bill. <br />The following individual spoke in opposition of this bill. <br />Ms. Vickie Bely, 20154 Jackson Road, South Bend, Indiana, stated that she had just <br />learned about this proposed subdivision from the last Council meeting. <br />17 <br /> <br />