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REGULAR MEETING <br />JUNE 10, 1996 <br />boundaries and such other information regarding the areas in <br />question as required by law; and <br />WHEREAS, the Community and Economic Development Committee of the <br />Common Council has reviewed said report and recommended to the <br />Common Council that the areas qualify as Residentially Distressed <br />Areas. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds that the <br />petition for real property tax abatement and the Statement of <br />Benefits form meet the requirements of Indiana Code 6 -1.1 -12.1 et <br />sea., for tax abatement. <br />SECTION II. The Common Council hereby determines and finds the <br />following: <br />A. At least thirty -five percent (35%) of the parcels are <br />currently vacant; <br />B. A significant number of dwelling units within the areas <br />are not permanently occupied or a significant number of <br />parcels in the areas are vacant land; <br />C. A significant number of dwelling units in the areas are: <br />I. the subject of an order issued under IC 36 -7 -9; or <br />ii. evidencing significant building deficiencies; <br />D. The areas have experienced a net loss in the number of <br />dwelling units, as documented by census information, local <br />building and demolition permits, or certificates of occupancy, <br />or the areas are owned by Indiana or the United States. <br />E. The areas (plus any areas previously designated) do not <br />exceed ten percent (10 %) of the total area within the <br />designating body's jurisdiction. <br />F. That the description of the proposed redevelopment meets <br />the applicable standards for such development. <br />G. That the estimate of the value of the redevelopment is <br />reasonable for projects of this nature; <br />H. That the other benefits about which information was <br />requested are benefits that can be reasonably expected to <br />result from the proposed described redevelopment; and <br />I. That the totality of benefits is sufficient to justify the <br />requested deduction, all of which satisfy the requirements of <br />Indiana Code 6 -1.1- 12.1 -3. <br />SECTION III. The Common Council also hereby determines and finds <br />the following: <br />A. The deduction will not be allowed unless the dwelling is <br />rehabilitated to meet local code standards for habitability. <br />B. The deduction will not be allowed unless the dwelling <br />rehabilitation is completed within five (5) calendar years <br />from the date of the adoption of this Resolution by the Common <br />Council. <br />SECTION IV. The Common Council hereby determines and finds that <br />the proposed described redevelopment can be reasonably expected to <br />yield benefits identified in the Statement of Benefits and the <br />petition for real property tax abatement consideration and that the <br />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 Committee <br />that the areas herein described be designated as Residentially <br />Distressed Areas and hereby adopts a Resolution designating these <br />areas as Residentially Distressed Areas for purposes of real <br />