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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 limited to three (3) 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 <br /> qualified for and is granted a vacant building tax deduction for a period of six (6) years <br /> outlined below as well as shown by the attachment pursuant to Indiana Code 6-1.1-12.1- <br /> 17 and further determines that the petition, the Memorandum of Agreement between the <br /> Petitioner and the City of South Bend, and the Statement of Benefits comply with <br /> Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code <br /> 6-1.1-12 et seq. <br /> Year 1 - 100% <br /> Year 2 - 100% <br /> Year 3 - 95% <br /> Year 4 - 90% <br /> Years - 80% <br /> Year 6 - 70% <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 />