05-12-08 Common Council Minutes - Laserfiche WebLink

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REGULAR MEETING MAY 12, 2008 Resolution by the Common Council whichever date is later. SECTION VII. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of five (5) years. SECTION VIII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code 5-3-1 and Indiana Code 6-1.1-12.1-2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION IX. Pursuant to Indiana Code 6-1.1-12.1-2, the rehabilitation must meet all local code standards for habitability as a specific condition of having such property designated as a residentially distressed area. SECTION X. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. s/Timothy A. Rouse Member of the Common Council Councilmember Dieter, Chairperson, Community and Economic Development Committee, reported that this committee held a Public Hearing on these bills this afternoon and voted to send them to the full Council with a favorable recommendation. Additionally, Councilmember Dieter disclosed that he owns real estate in the Villas at Lake Blackthorn and after discussion with Council Attorney Kathleen Cekanski-Farrand it has been determined that there is no conflict of interest in this matter. Donna Chamblee, Vice-President, Operations, Cooreman Real Estate Group, Inc., 4407 Technology Drive, South Bend, Indiana, made the presentation for these bills. Ms. Chamblee advised that Section I of the subject subdivision was granted five-year residential real property tax abatement on December 9, 2002, through Common Council Resolution number 3138-02. The Redevelopment Commission also approved the tax abatement petition through Resolution Number 1917 on November 1, 2002. The Common Council’s resolution confirmed its earlier declaratory resolution designating Section I as a Residentially Distressed Area (RDA) and that designation was limited to five calendar years from the date of the passage of the declaratory resolution, which was November 12, 2002. Ms. Chamblee stated that economic market factors, including the tightening of the credit market and the decline of real estate property values, have compounded the impact of the higher than comparable city taxes in this subdivision. Additionally, the majority of the unsold property in this neighborhood is located adjacent to the US 31 Bypass – a negative that has proven to be an immitigable factor in the slow growth of sales. A Public Hearing was held on the Resolution at this time. There being no one present wishing to speak to the Council either in favor of or in opposition to these Resolutions. Councilmember Puzzello made a motion to adopt Bill No. 08-45. Councilmember Oliver Davis seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. Councilmember Varner made a motion to adopt Bill No. 08-46. Councilmember Oliver Davis seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. 17