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REGULAR MEETING FEBRUARY 9, 2004 <br /> SECTION I. The Common Council hereby determines and finds that the petition <br /> for real property tax abatement and the Statement of Benefits form meet the requirements of <br /> Indiana Code 6-1.1-12.1 et seq., for tax abatement. <br /> SECTION II. The Common Council hereby determines and finds that the area meets one of <br /> the following conditions as formally established in Ordinance no. 8845-97, which was passed on <br /> December 8, 1997: <br /> A. The area is comprised of parcels that are either unimproved or contain only one(1) or <br /> two (2) family dwellings designed for up to four (4) families, including accessory <br /> buildings for those dwellings; or <br /> B. Any dwellings in the area are not permanently occupied and are: <br /> i. the subject of an order issued under IC 36-7-9; or <br /> ii. evidencing significant building deficiencies; or <br /> C. Parcels of property in the area: <br /> i. have been sold and not redeemed under IC 6-1.1-24 and IC 6-1.1-25; or <br /> ii. are owned by a unit of local government; or <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 <br /> designating the area described herein as a Residentially Distressed Area for the purposes of tax <br /> abatement. Such designation is for Real property tax abatement only and is limited to five (5) <br /> calendar years from the 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 /> -22- <br />