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SECTION Il. The Common Council hereby determines that the property owner is <br /> qualified for and is granted a real property tax deduction for a period of(10) ten years as <br /> shown below and further determines that the petition, the Memorandum of Agreement <br /> between the Petitioner and the City of South Bend, and the Statement of Benefits comply <br /> with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana <br /> Code 6-1.1-12 et seq. <br /> Year 1 — 100% <br /> Year 2 - 100% <br /> Year 3 - 100% <br /> Year 4— 100% <br /> Year 5— 100% <br /> Year 6—95% <br /> Year 7—95% <br /> Year 8 —95% <br /> Year 9—90% <br /> Year 10—90% <br /> SECTION III. This Resolution shall be in full force and effect from and after its <br /> adoption by the Common Council and approved by the Mayor. <br /> Tim Scott, Council President <br /> South Bend Common Council <br />