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Abatement Consideration and that Statement of Benefits form completed by the petitioner, said <br />form being pre sc ribed by the State Board of Accounts, are sufficient to justify the deduction <br />granted under Indiana Code 6-1.1-1 2.1 -4 .5. <br />SECTION III . The Common Council hereby accepts the report and recommendation of the <br />Department of Community Inve stment, and the Community Investment Comm ittee's favorab le <br />recommendation, that the area herein described be de signated as an Economic Revitalization Area <br />fo r purposes of personal property tax abatement and hereby makes such a designation. <br />SECTION IV . The Common Council determ ines that such designation is for personal property <br />tax abatement only and shall be lim ited to three (3) calendar years from the date of the adoption of <br />thi s Resolution by the Common Council. <br />SECTION V. The Common Council herc;by determines that the property owner is quali fied for <br />and is granted property tax deduction for a period of (5) five years as shown below pursuant to <br />Indiana Code 6-1.1-12 .1-17 . <br />Year l-l00% <br />Year2-95% <br />Year 3-90% <br />Year 4-85 % <br />Year 5-80% <br />SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this <br />Declaratory Reso lution for Personal Property Tax Abatement to be published pursuant to Indiana <br />Code 5-3 -1, said publication provid ing not ice of the publ ic hearing before the Common Council <br />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 the <br />Common Council and approval by the Mayor . <br />Dawn M . Jones, City Clerk' <br />Office of the City Clerk <br />South Bend Common Council <br />Presented by me, the un dersigned Clerk o f th.e City o f So uth Ben d , to the Mayor of the <br />City of South Bend, Indiana on the ___!L__ day o f ~ , 2022 , at _/j__ <br />o'clock _. m . A!t'taµ /2 <br />D,~ M. Jo,~. City CJ,~ <br />Office of the City Clerk <br />Approved and signed by me on the~ day of Srp1-.~v-f·m . <br />, 2022 , at l_ o 'clock <br />City of South Bend, Indiana <br />"-.fr·""' ,, <br />OCT ·1 9 20''~ <br />2 L_ ___ ___, <br />DAWN M. JON :) <br />CITY CLE:1"1K. ~G I I ,-i BEN D, IN