06-09-03 Council Meeting Minutes

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REGULAR MEETING JUNE 9, 2003 prescribed by the State Board of Accounts are sufficient to justify the deduction granted under Indiana Code 6 -1.1- 12.1 -3. SECTION V. The Common Council hereby accepts the report and recommendation of the Community and Economic Development Committee that the area herein described be designated as a Residentially Distressed Area and hereby adopts a Resolution designating this area as a Residentially Distressed Area for purposes of real property tax abatement. SECTION VI. The designation as a Residentially Distressed Area shall be limited to five (5) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VII. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of five (5) years. SECTION VIII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code 5 -3 -1 and Indiana Code 6- 1.1- 12.1 -2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION IX. Pursuant to Indiana Code 6- 1.1- 12.1 -2, the rehabilitation must meet all local code standards for habitability as a specific condition of having such property be designated as a residentially distressed area. SECTION X. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. s/Karen L. White Member of the Common Council Councilmember King, Chairperson, Community and Economic Development Committee, reported that this committee held a Public Hearing on this bill this afternoon and voted to send it to the full Council with a favorable recommendation. Mr. Bernard Feeney, Registered Land Surveyor, 715 South Michigan Street, South Bend, Indiana, made the presentation for this bill. Mr. Feeney advised that he represents Cleland Builders who are in the process of developing Jade Crossing which is a residential subdivision on the south side of Brick Road between the Harvest Pointe Subdivision and the Hartman and Demaegt Subdivision. He noted that Harvest Pointe and Jade Crossing are in the City of South Bend having been annexed in March of this year. This bill is for the first thirty -three (33) of a possible one hundred two (102) lots in this subdivision. It is anticipated that the ultimate value of these thirty -three (33) lots will be in excess of $3.8 million dollars. Mr. Feeney advised that other projects of Cleland Builders include Shepherd's Cove in Osceola, Horizons Edge in Harris Township, Nature's Gate on the west side of the City and Spy Glass Valley on the south side of Mishawaka, Indiana. A Public Hearing was held on the Resolution at this time.