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04-26-04 Council Meeting Minutes
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04-26-04 Council Meeting Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
4/26/2004
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REGULAR MEETING <br />APRIL 26, 2004 <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 <br />occupied 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 <br />by census information, local building and demolition permits, or certificates of <br />occupancy, 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 <br />exceed 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 <br />for 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 <br />be 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 <br />which 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 determines and finds that the proposed described <br />redevelopment can be reasonably expected to yield benefits identified in the Statement of <br />Benefits and the petition for real property tax abatement consideration and that the Statement of <br />Benefits form prescribed by the State Board of Accounts are sufficient to justify the deduction <br />granted under Indiana Code 6- 1.1- 12.1 -3 <br />SECTION V. The Common Council hereby accepts the report and recommendation of the <br />Community and Economic Development Committee that the area herein described be designated <br />as a Residentially Distressed Area and hereby adopts a Resolution designating this area as a <br />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 (5) <br />calendar years from the date of the adoption of this Resolution by the Common Council. <br />SECTION VII. The Common Council hereby determines that the property owner is qualified for <br />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 adoption of <br />this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana <br />Code 5 -3 -1 and Indiana Code 6- 1.1- 12.1 -2.5, said publication providing notice of the public <br />hearing before the Common Council on the proposed confirming of said declaration. <br />SECTION IX. Pursuant to Indiana Code 6 -1.1- 12.1 -2, the rehabilitation must meet all local code <br />standards for habitability as a specific condition of having such property be designated as a <br />residentially distressed area. <br />SECTION X. This Resolution shall be in full force and effect from and after its adoption by the <br />13 <br />
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