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REGULAR MEETING FEBRUARY 9, 2004 <br /> D. A significant number of dwelling units within the area are not permanently occupied <br /> or a significant number of parcels in the area are vacant land; or <br /> E. A significant number of dwelling units within the area are: <br /> i. the subject of an order issued under IC 36-7-9; or <br /> ii. evidencing significant building deficiencies; or <br /> F. The area has experienced a net loss in the number of dwelling units,as documented by <br /> census information,local building and demolition permits,or certificates of occupancy, <br /> or the areas are owned by Indiana or the United States; or <br /> G. The area(plus any areas previously designated under this subsection)will not exceed <br /> ten percent (10%) of the total area within the Council's 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 standards for <br /> such development. <br /> B. That the estimate of the value of the redevelopment is reasonable for projects of this <br /> nature; <br /> C. That the other benefits about which information was requested are benefits that can be <br /> 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 which <br /> 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 local <br /> 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 designating <br /> the area described herein as a Residentially Distressed Area for the purposes of tax abatement. Such <br /> designation is for Real property tax abatement only and is limited to five(5)calendar years from the <br /> date of adoption of the Declaratory Resolution by the Common Council. <br /> SECTION V. The Common Council hereby determines that the property owner is qualified <br /> for and is granted Real property tax deduction for a period of five(5)years, and further determines <br /> that the petition complies with Chapter 2,Article 6,of the Municipal Code of the City of South Bend <br /> 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 adoption <br /> by the Common Council and approval by the Mayor. <br /> s/Karen L. White <br /> Member of the Common Council <br /> Mr. Scott Johnson, 5802 Miami, South Bend, Indiana, made the presentation for these bills. <br /> Mr. Johnston noted that the homes are single family,between 2,200 and 3,200 sq. ft. with <br /> prices ranging from $160,000 to $275,000. The homes will have three to four bedrooms with a <br /> den, basement, great room and attached garage. <br /> -16- <br />