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SECTION IV. The Common Council hereby confirms 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 />commencing from November 12 2008 or the date o the adoption of the Declaratory Resolution <br />by the Common Council whichever date is later. <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 />s -Z1-~8' <br />PR~SEi~'i~L~ '~, <br />~g r ~ "=,~ <br />MAY - 7 2008 <br />J~t~P~1 V~~ Y~ <br />CfTY CG~"hif, ~f?. ~~'ti~, i[d. <br />~papTk~ ~ 4 <br />