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SECTION III. The Common Council hereby accepts the report and recommendation of the <br />Department of Community and Economic Development, and the Community and Economic <br />Development Committee's favorable recommendation, that the area herein described be <br />designated as an Economic Revitalization Area for purposes of personal property tax abatement <br />and hereby makes such a designation. <br />SECTION IV. The Common Council determines that such designation is far personal property <br />tax abatement only and shall be limited to two (2) calendar years from the date of the adoption of <br />this Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the property owner is qualified for <br />and is granted property tax deduction for a period of (5) five years. <br />SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of <br />this Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to <br />Indiana Code 5-3-1, said publication providing notice of the public hearing before the Common <br />Council an the proposed canf rming of said declaration. <br />SECTION VII. This Resolution shall be in full farce and effect from and after its adoption by <br />the Common Council and approval by the Maynr. <br />Member of the Common Council <br />~~~r•ry, 3g~ <br />'h '4~ i~x. C x~~ VJ i~t rt~ Py{~ <br />~: <br />q L~ <br />~cacNtED a ' ~`'~ <br />~01 rirC7~V~ <br />AfloP7~• ~ <br />3 <br />E ~~ s '~~. s.a' s k s ire ~ <br />~, ~ [ I J LV~U <br />..LF!I~~ •rE ~-~r fi <br />!'.~.. ~ r. v~ pod. <br />