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SECTION IV. The Common Council hereby confums 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 />-o <br />PRESENTED ~-l `~ <br />N07 APPROVED <br />3 <br />~1~~~ aft ~~~3'~:'a ~~~E~~ <br />,~8 <br />,~. ; <br />JC~H1! vJi;P~L`E <br />C{TY C6 i;4, ~Q. BEER, IN. <br />ADOPTED <br />