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8002-0079, 018-8002-0094, 018-8002-0096, 018-8002-0097, 018-8002-0098, 018-8002-0099, <br /> 018-8002-0100, 018-8002-0101, 018-8002-0102, and 018-8002-0104, and be designated as an <br /> Economic Revitalization Area; and <br /> WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing <br /> before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; and <br /> WHEREAS, the Council held a public hearing for the purposes of hearing all <br /> remonstrances and objections from interested persons; and <br /> WHEREAS, the Council has determined that the qualifications for an economic <br /> revitalization area have been met. <br /> NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br /> Bend, Indiana, as follows: <br /> SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the <br /> area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such <br /> designation is for real property tax abatement only and is limited to four (4) calendar years from <br /> the date of adoption of the Declaratory Resolution by the Common Council. <br /> SECTION II. The Common Council hereby determines that the property owner is qualified for <br /> and is granted real property tax deduction for a period of eight(8) years as shown by the schedule <br /> outlined below as well as the attachment pursuant to Indiana Code 6-1.1-12.1-17 and further <br /> determines that the petition, the Memorandum of Agreement between the Petitioner and the City <br /> of South Bend, and the Statement of Benefits comply with Chapter 2, Article 6, of the Municipal <br /> Code of the City of South Bend and Indiana Code 6-1.1-12 et seq. <br /> Year 1 - 100% <br /> Year 2 - 100% <br /> Year 3 - 95% <br /> Year 4 - 90% <br /> Year 5 - 85% <br /> Year 6 - 80% <br /> Year 7—75% <br /> Year 8 - 70% <br /> SECTION III. This Resolution shall be in full force and effect from and after its adoption by the <br /> Common Council and approved by the Mayor. <br /> " Tim Scott, Council President <br /> KESEM'EG' Iq South Bend Common Council <br /> NOT APPROVal <br /> m 51ly! wg <br />