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granted under Indiana Code 6-1.1-12.1-4.5. <br /> SECTION III. The Common Council hereby accepts the report and recommendation of the <br /> Department of Community and Economic Development, and the Community and Economic <br /> Development Committee's favorable recommendation, that the area herein described be <br /> designated as an Economic Revitalization Area for purposes of personal property tax abatement <br /> and hereby makes such a designation. <br /> SECTION IV. The Common Council determines that such designation is for personal property <br /> tax abatement only and shall be limited to two (2) calendar years from the date of the adoption of <br /> this Resolution by the Common Council. <br /> SECTION V. The Common Council hereby determines that the property owner is qualified for <br /> and is granted property tax deduction for a period of five (5)years. <br /> SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of <br /> this Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to <br /> Indiana Code 5-3-1, said publication providing notice of the public hearing before the Common <br /> Council on the proposed confirming of said declaration. <br /> SECTION VII. This Resolution shall be in full force and effect from and after its adoption by <br /> the Common Council and approval by the Mayor. <br /> I <br /> _� <br /> mber of the Common Counci <br /> Films �n Clerk's Offlie <br /> NOV 5 O1 <br /> PRESENTED 1,L— -°—CL <br /> JOHN <br /> NOT AP PROVO <br /> a.. <br /> CITY 0 T ND,IN <br /> WORM <br /> 3 <br /> 4.rOP T 1,"2,-LO---t <br />