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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 five (5) years. <br />SECTION VII. 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 VIII. The Common Council hereby determines that should the Company <br />receive the Enterprise Zone Investment Deduction under I.C. 6-1.1-45 for the same <br />property, this Tax Abatement designation shall become null and void. The Company <br />may not receive an economic revitalization area deduction if it receives an enterprise <br />zone investment deduction under I.C. 6-1.1-45 for the same property. <br />SECTION IX. 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 />Member of~.he Common Cou"ncii 1- <br />PRESENTED S- I Z -a <br />~`EOT APp~OVED <br />i'ADOpTED <br />~ii~d Its ~1~>~E~'~ 4EC~ <br />MAY - 7 2008 <br />JOHtJ VOCRDE <br />