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REGULAR MEETING APRIL 11,2005 <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 determines and finds that the proposed <br />described redevelopment can be reasonably expected to yield benefits identified in the <br />Statement of Benefits and the petition for real property tax abatement consideration and <br />that the Statement of Benefits form prescribed by the State Board of Accounts are <br />sufficient to justify the deduction granted under Indiana Code 6-1.1-12.1-3. <br />SECTION V. The Common Council hereby accepts the report and recommendation of <br />the Community and Economic Development Committee that the area herein described be <br />designated as a Residentially Distressed Area and hereby adopts a Resolution designating <br />this area as a Residentially Distressed Area for purposes of real property tax abatement. <br />SECTION VI. The designation as a Residentially Distressed Area shall be limited to five <br />(5) calendar years from the date of the adoption of this Resolution by the Common <br />Council. <br />SECTION VII. The Common Council hereby determines that the property owner r is <br />qualified for and is granted property tax deduction for a period of five (5) years. <br />SECTION VIII. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution for Real Property Tax Abatement to be published <br />pursuant to Indiana Code 5-3-1 and Indiana Code 6-1.1-12.1-2.5, said publication <br />providing notice of the public hearing before the Common Council on the proposed <br />confirming of said declaration. <br />SECTION IX. Pursuant to Indiana Code 6-1.1-12.1-2, the rehabilitation must meet all <br />local code standards for habitability as a specific condition of having such property be <br />designated as a residentially distressed area. <br />SECTION X. This Resolution shall be in full force and effect from and after its adoption <br />by the Common Council and approval by the Mayor. <br /> s/Charlotte D. Pfeifer <br /> Member of the Common Council <br />Councilmember Puzzello, Chairperson, Community and Economic Development <br />reported that this committee held a Public Hearing on this bill this afternoon and voted to <br />send it to the full council with a favorable recommendation. <br />Mr. Al Clark, Assistant Construction Manager, Habitat for Humanity of St. Joseph <br />County, 402 E. South Street, South Bend, Indiana, made the presentation for this bill. <br />Mr. Clark advised that Habitat for Humanity proposes to build 8 new homes with 1,120 <br />square feet, one-story homes with 3 bedrooms, 1 to 1 ¾ baths, and a crawlspace. The <br />homes will cost an estimated $65,000 each. The total estimated dollar value of the <br />project is $520,000.00 <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 Kirsits made a motion to adopt this <br />Resolution. Councilmember Dieter seconded the motion which carried and the <br />Resolution was adopted by a roll call vote of nine (9) ayes. <br />BILLS, FIRST READING <br />18 <br /> <br />