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REGULAR MEETING <br />JULY 13, 1998 <br />result from the proposed described redevelopment; and <br />F. That the totality of benefits is sufficient to justify <br />the requested deduction, all of which satisfy the <br />requirements of Indiana Code 6 -1.1- 12.1 -3. <br />SECTION IV. The Common Council hereby determines and finds that <br />the proposed described redevelopment can be reasonably expected <br />to yield benefits identified in the Statement of Benefits and the <br />petition for real property tax abatement consideration and that <br />the Statement of Benefits form prescribed by the State Board of <br />Accounts are sufficient to justify the deduction granted under <br />Indiana Code 6 -1.1- 12.1 -3. <br />SECTION V. The Common Council hereby accepts the report and <br />recommendation of the Community and Economic Development <br />Committee that the areas herein described be designated as <br />Residentially Distressed Areas and hereby adopts a Resolution <br />designating these areas as Residentially Distressed Areas for <br />purposes of real property tax abatement. <br />SECTION VI. The designation as a Residentially Distressed Areas <br />shall be limited to five (5) calendar years from the date of the <br />adoption of this Resolution by the Common Council. <br />SECTION VII. The Common Council hereby determines that the <br />property owner is qualified for and is granted property tax <br />deduction for a period of five (5) years. <br />SECTION VIII. The Common Council directs the City Clerk to cause <br />notice of the adoption of this Declaratory Resolution for Real <br />Property Tax Abatement to be published pursuant to Indiana Code <br />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 <br />proposed confirming of said declaration. <br />SECTION IX. Pursuant to Indiana Code 6 -1.1- 12.1 -2, the <br />rehabilitation must meet all local code standards for <br />habitability as a specific condition of having such properties be <br />designated as residentially distressed areas. <br />SECTION X. 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. <br />Council Member Kelly reported that the Community and Economic <br />Development Committee had met on this bill and recommended it to <br />the Council favorable. Tom Murray, president of Woodfield Downs, <br />made the presentation for the resolution. He indicated it would <br />be very beneficial to pass this residential abatement as opposed <br />to having people move outside the city limits. Council Member <br />Aranowski made a motion to adopt this resolution, seconded by <br />Council Member Pfeifer. The resolution was adopted by a roll <br />call vote of eight ayes. <br />RESOLUTION NO. 98 -117 A RESOLUTION <br />THE CITY OF <br />DETERMINING, <br />THE LEASE OF <br />HURON, SOUTH <br />NEIGHBORHOOD <br />NECESSARY <br />OF THE COMMON COUNCIL OF <br />SOUTH BEND, INDIANA, <br />AFTER INVESTIGATION THAT <br />PROPERTY AT 2202 WEST <br />BEND, INDIANA, FOR USE AS A <br />PARTNERSHIP CENTER IS <br />Council Member Broden made a motion to strike this resolution <br />from the agenda, at the request of the petitioner, seconded by <br />Council Member Varner. The motion carried. <br />RESOLUTION NO. 2651 -98 A RESOLUTION OF THE COMMON COUNCIL OF <br />