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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 seq. <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 />Member of the Common Council <br />H~ ESENTED ~ +2~ ~~'~ <br />NOT APPitO.VFQ <br />ADOPTT~ ~_~~ -"1~ <br />AUG302010 <br />~C};II VOa~~E <br />ClT`t CIE;;, PG• F1EUD, IN. <br />