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South Bend, Indiana, as follows: <br /> SECTION I. The Common Council hereby confirms its Declaratory Resolution <br /> designating the area described herein as an Economic Revitalization Area for the <br /> purposes of tax abatement. Such designation is for Real Property tax abatement only and <br /> is limited to four (4) calendar years from the date of adoption of the Declaratory <br /> Resolution by the Common Council. <br /> SECTION II. 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(4) four 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 - 90% <br /> Year 3 - 80% <br /> Year 4—70% <br /> SECTION 11I. 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 />