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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 for Real property tax abatement only and <br />is limited to two (2) calendar years from the date of adoption of the Declaratory <br />Resolution by the Common Council. <br />SECTION II. The Common Council hereby determines that the property owner is <br />qualified for and is granted Real property tax deduction for a period of five (5) years, and <br />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 />SECTION III. 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 IV. 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 />Member of the Common Coon ~ <br />T?RESERITED S -' Ll -a <br />t• <br />FOT APPROVED <br />~i~~~ I~ ~;~~°'~'~ €~ff~~e <br />~AAY - ~ 2oa8 <br />J~3F,f! 4°o0~{'wE <br />CITY Ct~n~+, S~. 5w~~, !N. <br />fkDOpTED <br />