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Council hereby accepts the report and recommendation of <br />the Community and Economic L)eVelopMent l.0n1II11ucG Luau uiv aica =l%1l�ul �+����•�"" "" <br />designated as an Economic Revitalization Area and hereby adopts a Resolution <br />designating this area as an Economic Revitalization Area for purposes of real property <br />tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area shall be limited to <br />two (2) calendar years from the date of the adoption of this Resolution by the Common <br />Council. <br />SECTION VI. The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax deduction for a period of two (2) years. <br />SECTION VII. The Common Council hereby determines that the annual amount <br />for which similar buildings in the county were leased or rented or offered for lease <br />or rent during the period the eligible vacant building was unoccupied is <br />approximately in the amount of $70,616. <br />SECTION VIII. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution for Real Property Tax Abatement to be published <br />pursuant to Indiana Code § 5 -3 -1 and Indiana Code § 6- 1.1- 12.1 -2.5, said publication <br />providing notice of the public hearing before the Common Council on the proposed <br />confirming of said declaration. <br />SECTION IV. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approval by the Mayor. <br />PRESENTED <br />Y APPROVED. <br />ADOPTED <br />Member of the Common Council <br />Filed n elk's OttiCe <br />APO 2 3 zoos <br />JQfiN VODORSOEU�J, IN <br />'IT`l <br />