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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 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 qualified for <br />and is granted Real property tax deduction for up to a period of nine (9) years as shown by the <br />schedule outlined below as well as the attachment pursuant to Indiana Code 6-1.1-12.1-17 and <br />further determines that the petition, the Memorandum of Agreement between the Petitioner and <br />the City of South Bend, and the Statement of Benefits comply with Chapter 2, Article 6, of the <br />Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq. <br />Year 1 - <br />100% <br />Year 2 - <br />100% <br />Year 3 - <br />95% <br />Year 4 - <br />90% <br />Year 5 - <br />85% <br />Year 6 - <br />80% <br />Year 7 - <br />75% <br />Year 8 - <br />70% <br />Year 9 - <br />65% <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 />Karen L. White, President <br />South Bend Common Council <br />