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REGULAR MEETING <br />JUNE 28, 2004 <br />of Benefits and the petition for real property tax abatement consideration and that the Statement <br />of 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 <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 this <br />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 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 providing <br />notice of the public hearing before the Common Council on the proposed confirming of said <br />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 designated <br />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 Committee, <br />reported that this committee held a public hearing on this bill this afternoon and voted to send it <br />to the full Council with a favorable recommendation. <br />Mr. Bernard Feeney, Registered Land Surveyor, Lang, Feeney & Associates Inc., 715 S. <br />Michigan Street, South Bend, Indiana made the presentation for this bill. <br />Mr. Feeney advised that the petitioner, Cleland Builders, Inc would like to continue development <br />of the Jade Crossing subdivision. Jade Crossing is located directly south of Brick Road, midway <br />between Portage Avenue and the U.S. 31 Bypass. Phase 2 of this development would allow for <br />thirty (30) stick built homes. The homes will average between 1,200 and 1,600 square feet, with <br />three to four bedrooms, 1 -1 %2 baths, two car attached garages and full basements. The average <br />home within Phase 2 will cost $150,000.00, making the total project cost approximately <br />$4,500,000.00 <br />There being no one present wishing to speak to the Council either in favor of or in opposition to <br />this Resolution, Councilmember Varner made a motion to correct the spelling of Acacia Place <br />throughout the entire Resolution, Councilmember Coleman seconded the motion which carried <br />by a voice vote of nine (9) ayes. Additionally Councilmember Coleman made a motion to adopt <br />this Resolution. Councilmember Varner 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 />BILL NO. 39 -04 FIRST READING ON A BILL OF THE COMMON <br />COUNCIL OF THE CITY OF SOUTH BEND, <br />INDIANA, APPROPRIATING $198,345 WITHIN <br />16 <br />