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RESOLUTION NO. <br />J <br />A RESOLUTION RECOGNIZING THE NEED FOR A. NEW FEDERAL INCOME. TAX. CREDIT TO <br />ENCOURAGE THE REHABILITATION OF HISTORIC BUILDINGS FOR. HOMEOWNERS IN THE CITY <br />OF SOUTH BEND AND URGING ENACTMENT BY CONGRESS OF THE "HISTORIC HOMEOWNERSHIP <br />ASSISTANCE ACT" <br />WHEREAS, the abandonment and destruction of older and historic buildings <br />presents a growing threat to the public. safety and the social and fiscal well <br />being of the citizens of South Bend; and <br />WHEREAS, more than 235 houses have been caused to be demolished due to lack of <br />maintenance investment in the .City..of, ,_South Bend. during_.. the_ period from <br />January 1, 1990 and December 31, 1994; and <br />WHEREAS, there_ are- not -at .present, sufficient financial incentives to attract <br />homeowners. to rehabilitate older buildings in such struggling, distressed, <br />declining, andthreatenedneighborhoods as West Washington and Chapin Park <br />National Register Historic Districts; Riverside_ Drive, River Bend, Edgewater <br />Place, and Lincolnway East Local Historic Districts; other eligible <br />neighborhoods such as St. Adalbert Parish, St. Casimir Parish, Monroe Park, <br />Rum Village,. and Howard. Park, and. at. isolated landmark_ buildings..in_other <br />neighborhoods; and <br />WHEREAS, a strong base of.homeowners is essential to..the civic and economic <br />health of this community and its tax base; and <br />WHEREAS, there has. been introduced into the Congress the "Historic <br />Homeownership Assistance Act" which would provide homeownership incentives for <br />the rehabilitation of older buildings in historic.districts through a Federal <br />Historic Preservation Tax Credit for homeowners; and <br />WHEREAS, the City of South Bend has established a Historic Preservation <br />Commission as.a Certified Local ..Government with...the.capability of promoting <br />and enabling the certification of such tax credits for the purpose of historic <br />preservation, and <br />WHEREAS, the "Historic Homeownership Assistance Act" would stimulate the <br />revival of decaying neighborhoods and the preservation of -historic buildings <br />and districts in the city of South Bend through homeownership; <br />NOW, THEREFORE, BE IT.RESOLVED that...the Common Council of.the City of .South <br />Bend supports and endorses and encourages .the prompt enactment of the , <br />"Historic Homeownership Assistance Act", and <br />BE IT FURTHER RESOLVED that a copy of this Resolution be sent to the entire <br />Congressional Delegation of the State of Indiana. <br />Member of the Common Council <br />