06-12-95 Council Meeting Minutes

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C: That the estimate of the number of individuals who will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed described redevelopment or rehabilitation; E. That the other benefits about which information was requested are benefits \F.That can be reasonably expected to result from the proposed described lopment or rehabilitation; and the totality of benefits is sufficient to Justify the requested ion, all of which satisfy the requirements of In ana Code 6 -1.1- 12.1 -3. SECTION III. The Common Council hereby determines d finds that the proposed described re velopment or rehabilitation can be easonably expected to yield benefits identi Jed in the Statement of Benefits se forth as Sections I through II of the Petition or Real Property Tax /and t C sideration and that the Statement of Benefits form p scribed by the Sto Accounts are sufficient to justify the deduction grante under Indiana Co.1 -3. SECTION IV. The Commo Council herebthe report and recommendation of the Human Resources and Econo is Developmetee that the area herein described be designated an Economic Rev talization ereby adopts a Resolution designating this area as an Economic evitalizafor purposes of real property tax abatement. SECTION V. The designation as�Economic Revitalization Area shall be limited to two (2) calendar years from the d e of the adoption of this Resolution by the Common Council. SECTION VI. The Common uncil he eby determines that the property owner is qualified for and is grante property to deduction for a period of six (6) years. SECTION VII. The Comm Council directs adoption of this Dec ratory Resolution published pursuant t Indiana Code 5 -3 -1 publication providin notice of the public proposed confirming of said declaration. SECTION VIII. is Resolution shall be in adoption by the Common Council and approval e City Clerk to for al Property and Udiana Code hearing fore the full force an effl by the Mayor. /s/ Eugene Ladewski Member of the Common Council cause notice of the Tax Abatement to be 6 -1.1- 12.1 -2.5, said Common Council on the --ct from and after its A public earing was held on the resolution at this time. Cou cil Member Kelly reported that the Community and Economic Development Committee had me tN on these bills and rec mmended it to the Council favorable. Dennis Reiner, preside of Midwest, made he presentation for the resolution. He indicated Midwest is precision mach' a shop they planned to build a new facility in the Studebaker Corridor. He indicated this project will allow them to expand their product base. Counci Member Lu cke made a motion to adopt this resolution, seconded by Council Member C eman. T e resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 2256 -95 A RESOLUTION RECOGNIZING THE NEED FOR A NEW FEDERAL INCOME TAX CREDIT TO ENCOURAGE THE REHABILITATION OF HISTORIC BUILDINGS FOR HOMEOWNERS IN THE CITY OF SOUTH BEND, INDIANA AND URGING ENACTMENT BY CONGRESS OF THE "HISTORIC HOMEOWNERSHIP ASSISTANCE ACT ". Whereas, the abandonment and destruction of older and historic buildings presents a growing threat to the public safety and the social and fiscal well being of the citizens of South Bend, Indiana; and Whereas, more than 235 houses have been caused to be demolished due to lack of maintenance investment in the City of South Bend, Indiana during the period from January 1, 1990 and December 31, 1994; and Whereas, there are not at present sufficient financial incentives to attract homeowners to rehabilitate older buildings in such struggling, distressed, declining, and threatened neighborhoods as West Washington and Chapin Park National Register Historic Districts; Riverside Drive, River Bend, Edgewater Place, and Lincolnway East Local Historic Districts; other eligible neighborhoods such as St. Adalbert Parish, St. Casimir Parish, Monroe Park, Rum Village, and Howard Park, and at isolated landmark buildings in other neighborhoods; and Whereas, a strong base of homeowners is essential to the civic and economic health of this community and its tax base; and Whereas, there has been introduced into the Congress the "Historic Homeownership Assistance Act" which would provide homeownership incentives for the rehabilitation of older buildings in historic districts through a Federal Historic Preservation Tax Credit for homeowners; and Whereas, The City of South Bend, Indiana has established a Historic Preservation Commission with the capability of promoting and enabling the certification of such tax credits for the purpose of historic preservation; and Whereas, the "Historic Homeownership Assistance Act" would stimulate the revival of decaying neighborhoods and the preservation of historic buildings and districts in the City of South Bend, Indiana through homeownership.