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PROPERTY TAX ABATEMENT FOR G & PROPERTIES. <br />WHEREAS, a petition for real property tax abatement has been file with the City Clerk <br />for consideration by the Common Council of the City of South Bend, Indiana requesting <br />that the area commonly known as 1702 AND 1706 N. Kaley Street; 1902 and 1933 N. Meade <br />Street; 1934, 1940, and 2004 N. Fremont Street; and 2021 N. Olive, South Bend, <br />Indiana, and which is more particularly described as follows: <br />Street Address Legal Description <br />1702 <br />N. <br />Kaley St. <br />Lot <br />420 <br />Vernon <br />Heights <br />Add. <br />1706 <br />N. <br />Kaley St. <br />Lot <br />419 <br />Vernon <br />Heights <br />Add. <br />1902 <br />N. <br />Meade St. <br />Lot <br />538 <br />Vernon <br />Heights <br />Add. <br />1933 <br />N. <br />Meade St. <br />Lot <br />527 <br />Vernon <br />Heights <br />Add. <br />1924 <br />N. <br />Fremont St. <br />Lot <br />574 <br />Vernon <br />Heights <br />Add. <br />1940 <br />N. <br />Fremont St. <br />lot <br />575 <br />Vernon <br />Heights <br />Add. <br />2004 <br />N. <br />Fremont St. <br />Lot <br />576 <br />Vernon <br />Heights <br />Add. <br />2021 <br />N. <br />Olive St. <br />Lot <br />585 <br />Vernon <br />Heights <br />Add. <br />Key Number <br />18- 2102 -3856 <br />18- 2102 -3856 <br />18- 2096 -3650 <br />18- 3095 -3587 <br />18- 2096 -3832 <br />18- 2096 -3628 <br />18- 2096 -3623 <br />18- 2096 -3616 <br />be designated as a Residentially Distressed Area under the provisions of Indiana Code <br />6 -1.1- 12.1 -1 et seq., and South Bend Municipal Code Sections 2 -76 et seq., and; <br />WHEREAS, the Department of Community and Economic Development has concluded an <br />investigation and prepared a report with information sufficient for the Common <br />Council to determine that the area qualifies as a Residentially Distressed Area under <br />Indiana Code 6 -1.1- 12.1 -1, et seq., and South Bend Municipal Code Sections 2 -76, et <br />seq., and has further prepared maps and plats showing the boundaries and such other <br />information regarding the area in question as required by law; and <br />WHEREAS, the Community and Economic Development Committee of the Common Council has <br />reviewed said report and recommended to the Common Council that the area qualifies as <br />a Residentially Distressed Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, <br />Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds that the Petition for Real <br />Property Tax Abatement and the Statement of Benefits form completed by the Petitioner <br />meet the requirements of Indian a Code 6 -1.1- 12.1 -1, et seq., for tax abatement. <br />SECTION II. <br />A. That the description of the proposed redevelopment meets the applicable <br />standards for such development; <br />B. That the estimate of the value of the redevelopment is reasonable for <br />projects of this nature; <br />C. That the other benefits about which information was requested are benefits <br />that can be reasonably expected to result from the proposed described <br />redevelopment; and <br />D. That the totality of benefits is sufficient to justify the requested <br />deduction, all of which satisfy the requirements of Indiana Code 6 -1.1- 12.1 -3 <br />SECTION III. <br />described re <br />the Statement <br />Property Tax <br />prescribed by <br />granted under <br />The Common Council hereby <br />3evelopment can be reasonably <br />of Benefits set forth as Sec <br />Abatement Consideration and <br />the State Board of Accounts <br />Indiana Code 6 -1.1- 12.1 -3. <br />determines and finds that the proposed <br />expected to yield benefits identified in <br />Lion I through II of the Petition for Real <br />that the Statement of Benefits form <br />are sufficient to justify the deduction <br />SECTION IV. The Common Council hereby accepts the report and recommendation of the <br />Community and Economic Development Committee that the area herein described be <br />designated as a Residentially Distressed Area and hereby adopts a Resolution <br />designating this area as a Residentially Distressed Area for purposes of real <br />property tax abatement. <br />SECTION V. The designation as a Residentially Distressed Area shall be limited to <br />two (2) calendar years from the date of the adoption of this Resolution by the Common <br />Council. <br />SECTION VI. The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax deduction for a period of five (5) years. <br />SECTION VII. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution for Real Property Tax Abatement to be <br />published pursuant to Indiana Code 5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, said <br />publication providing notice of the public hearing before the Common Council on the <br />proposed confirming of said declaration. <br />SECTION VIII. Pursuant to Indiana Code §6 -1.1- 12.1 -3, the Petitioner must meet all <br />local code standards for habitability as specific conditions of having such <br />properties being designated residentially distressed areas. <br />SECTION IX. This resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approval by the Mayor. <br />Eugene Ladewski <br />Member of the Common Council <br />