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REGULAR MEETING AUGUST 9,2004 <br /> within five (5) calendar years from the date of the adoption of this Resolution by <br /> the 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 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/Karen L. White <br /> Member of the Common Council <br /> Councilmember Kelly, Chairperson, Community and Economic Development <br /> Committee,reported that this committee held a Public Hearing on this bill this afternoon <br /> and voted to send it to the full Council with a favorable recommendation. <br /> Mr. Michael Urbanski, Garden Homes by E.L. Inc., 17874 State Road 23, South Bend, <br /> Indiana, made the presentation for this fill. <br /> Mr. Urbanski stated that Garden Homes by E.L. Inc.,proposes to build a new single <br /> family home to be located at 1817 North Elmer. The home will be 1,036 square feet, with <br /> three bedrooms, an attached garage, and vinyl siding. The estimated value of the home is <br /> expected to be $90,000. <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 Pfeifer made a motion to adopt this <br /> Resolution. Councilmember Kelly seconded the motion which carried and the Resolution <br /> was adopted by a roll call vote of nine (9) ayes. <br /> BILLS, FIRST READING <br /> 18 <br />