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REGULAR MEETING FEBRUARY 8, 1999 <br />designating body's jurisdiction. <br />E. That the description of the proposed redevelopment <br />meets the applicable standards for such development. <br />F. That the estimate of the value of the redevelopment <br />is reasonable for projects of this nature; <br />G. That the other benefits about which information was <br />requested are benefits that can be reasonably expected to result <br />from the proposed described redevelopment; and <br />SECTION III. The Common Council also hereby determines and finds <br />the following: <br />A. That the description of the proposed redevelopment meets <br />the applicable standards for such development. <br />B. That the estimate of the value of the redevelopment is <br />reasonable for projects of this nature; <br />C. That the other benefits about which information was <br />requested are benefits that can be reasonably expected to result <br />from the proposed described redevelopment; and <br />D. That the totality of benefits is sufficient to justify <br />the requested deduction, all of which satisfy the requirements of <br />Indiana Code 6- 1.1 -12 -3. <br />E. The deduction will not be allowed unless the dwelling is <br />rehabilitated to meet local code standards for habitability. <br />F. The deduction will not be allowed unless the dwelling <br />rehabilitation is completed within five (5) years from the date <br />of the adoption of this Resolution by the Common Council. <br />SECTION IV. The Common Council hereby confirms its Declaratory <br />Resolution designating the areas described herein as <br />Residentially Distressed Areas for the purposes of tax abatement. <br />Such designation is for Real property tax abatement only and is <br />limited to five (5) calendar years from the date of adoption of <br />the Declaratory Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the <br />property owner is qualified for and is granted Real property <br />tax deduction for a period of five (5) years, and further <br />determines that the petition complies with Chapter 2, Article 6, <br />of the Municipal Code of the City of South Bend and Indiana Code <br />6 -1.1 -12.1 et seg. <br />SECTION VI. This Resolution shall be in full force and effect <br />from and after its adoption by the Common Council and approval by <br />the Mayor. <br />/s/ Sean Coleman <br />Member of the Common Council <br />A public hearing was held on the resolution at this time. Pierre <br />Smith, the petitioner, made the presentation for the resolution. <br />He reported that they plan to build new single family homes. He <br />indicated they hope that over the next three to five years they <br />will have homes on all of the lots. Council Member Varner made a <br />motion to adopt this resolution, seconded by Council Member <br />Kelly. The resolution was adopted by a roll call vote of eight <br />ayes. <br />BILLS, FIRST READING <br />BILL NO. 6 -99 A BILL TO VACATE THE FOLLOWING DESCRIBED PROPERTY: <br />THE ALLEY TO BE VACATED IS DESCRIBED AS THE FIRST <br />EAST /WEST ALLEY SOUTH OF WESTERN AVENUE FROM THE <br />EAST RIGHT -OF -WAY OF SOUTH ALBERT STREET TO THE <br />WEST RIGHT -OF -WAY OF SOUTH SHERIDAN STREET FOR A <br />DISTANCE OF APPROXIMATELY 284.26 FEET IN LENGTH <br />AND A WIDTH OF 14 FEET. PART LOCATED IN BELLEVILLE <br />3RD UNIT, CITY OF SOUTH BEND, ST. JOSEPH COUNTY, <br />INDIANA. ALSO: THE FIRST NORTH /SOUTH ALLEY WEST <br />OF SOUTH SHERIDAN FROM THE SOUTH RIGHT -OF -WAY OF <br />THE FIRST EAST /WEST ALLEY SOUTH OF WESTERN AVENUE <br />1 <br />1 <br />1 <br />