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REGULAR MEETING JUNE 8, 2015 <br /> <br /> <br /> <br /> <br />form prescribed by the State Board of Accounts are sufficient to justify the deduction granted <br />under Indiana Code 6-1.1-12.1-3. <br /> <br />SECTION V. The Common Council hereby accepts the report and recommendation of the <br />Community Investment Committee that the area herein described be designated as a Residentially <br />Distressed Area and hereby adopts a Resolution designating this area as a Residentially Distressed <br />Area for purposes of real property tax abatement. <br /> <br />SECTION VI. The designation as a Residentially Distressed Area shall be limited to five (5) <br />calendar years from the date of the adoption of this Resolution by the Common Council. <br /> <br />SECTION VII. The Common Council hereby determines that the property owner is qualified for <br />and is granted property tax deduction for a period of five (5) years as shown by the attachment <br />pursuant to Indiana Code 6-1.1-12.1-17. <br /> <br />SECTION VIII. The Common Council directs the City Clerk to cause notice of the adoption of <br />this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana <br />Code 5-3-1 and Indiana Code 6-1.1-12.1-2.5, said publication providing notice of the public <br />hearing before the Common Council on the proposed confirming of said declaration. <br /> <br />SECTION IX. Pursuant to Indiana Code 6-1.1-12.1-2, the rehabilitation must meet all local code <br />standards for habitability as a specific condition of having such property designated as a <br />residentially distressed area. <br /> <br />SECTION X. This Resolution shall be in full force and effect from and after its adoption by the <br />Common Council and approval by the Mayor. <br /> <br /> <br /> <br /> <br /> ___________________________________ <br /> Member of the Common Council <br /> <br />Councilmember Gavin Ferlic made a motion to accept the substitute version for bill 15-33. <br />Councilmember Dr. David Varner seconded the motion which carried by a voice vote of eight <br />(8) ayes. <br /> <br />Councilmember Gavin Ferlic, Chairperson, Community Investment Committee met this <br />afternoon and send bill 15-33 to the full Council favorably. <br /> <br />th <br />Presenter: Brock Zeeb, Department of Community Investment, Offices on the 14 floor – Before <br />you is a residential real property tax abatement for Tampico Developments, LLC. It is a request <br />for a 26 home project. $3.9 million dollars will be spent; the homes will range between 1,400 and <br />1,800 sq. ft. The total taxes created from the project are $246,532, total taxes to be abated over <br />the five (5) year period are $213,236 and total taxes to be paid during will be $33,296. The <br />petitioner is here to answer any questions that you may have. <br /> <br />Petitioner: Daryl Knip, 750 Lincoln Way East, South Bend – We are requesting a five (5) year <br />tax abatement. The homes are middle class homes ranging from $150,000 up to $195,000. I will <br />be happy to answer any questions. <br /> <br />Councilmember Henry Davis, Jr. – I have a question about the tax abatement for Brock. I am <br />interested in discussing taking tax abatements to areas that don’t necessarily receive them. I <br />would like to have a conversation on making special exceptions on Western Ave. Brock Zeeb <br />responded that he would be happy to have a conversation about that. Tax abatements are open <br />throughout the city and Western Ave is open on the Western side with no restriction as long they <br />come prior to the building permit. Councilmember Davis interjected that it is a different process. <br />Brock Zeeb gave an example of a previous special request and reiterated that he would be happy <br />to set up a meeting with him. Councilmember Davis stated it was an example but I am talking <br />9 <br /> <br /> <br />