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REGULAR MEETING JULY 13, 1998 <br />D. The areas (plus any areas previously designated) do <br />not exceed ten percent (10 %) of the total area within the <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 sea. <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 />Is /Sean Coleman <br />Member of the Common Council <br />A public hearing was held on the resolution at this time. Jackie <br />Roelke, 60588 Woodstock St., made the presentation for the <br />resolution. She requested the Council's support in adopting this <br />resolution. Council Member Pfeifer made a motion to adopt this <br />resolution, seconded by Council Member Sniadecki. The resolution <br />was adopted by a roll call vote of eight ayes. <br />RESOLUTION NO. 2646 -98 A RESOLUTION CONFIRMING THE ADOPTION OF <br />A DECLARATORY RESOLUTION DESIGNATING <br />CERTAIN AREAS WITHIN THE CITY OF SOUTH <br />BEND, INDIANA, COMMONLY KNOWN AS LOTS #1 <br />TO #73 FIELD POINTE SUBDIVISION PHASE 2 <br />AND LOTS #1, 38, 42, 56, 65, AND 67 <br />FIELD POINTE SUBDIVISION PHASE 1 <br />RESIDENTIALLY DISTRESSED AREAS FOR <br />PURPOSES OF A FIVE (5) YEAR RESIDENTIAL <br />REAL PROPERTY TAX ABATEMENT FOR MEADOW <br />WOOD II,LIMITED PARTNERSHIP <br />WHEREAS, the Common Council of the City of South Bend, Indiana, <br />J <br />