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SECTION IV. The Common Council hereby confirms its Declaratory Resolution designating <br />the area described herein as a Residentially Distressed Area for the purposes of tax abatement. <br />Such designation is for Real property tax abatement only and is limited to five (5) calendar years <br />from the date of adoption of the Declaratory Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the property owner is qualified for <br />and is granted Real property tax deduction for a period of five (5) years, and further determines <br />that the petition complies with Chapter. 2, Article 6; of the Municipal Code of the City of South <br />Bend and Indiana Code 6-1.1-12.1 et sea. <br />SECTION VI. 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 />0 <br /><. /-~ <br />Member of the o on Council <br />PRESENTED ~ ~' ~~~ ~ <br />NOT APPROVED <br />ADOPTED I ~~ ~, <br />3 <br />Filed In C1erk'~ C~~ic~ <br />SEP 1 2 2007 <br />JOhiP1 VOC~DE <br />CITY CLERK, SQ. BEAD, IN. <br />