Amending Chapter 2 Entitled Tax Abatement Procedures

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abatement, and shall specify whether the abatement is for real property tax deduction or for personal property tax deduction, the length of time during which the area shall be so designated, and the general boundaries of the area by describing its location in relation to public ways. If the abatement is for real property taxes the Council shall specify whether the abatement is for three ( 3 ) , six (6) , or ten (10) years. Upon adoption of the declaratory resolution, the City Clerk shall file the resolution with the County Assessor, together with supporting data required by I.C. 6-1.1-12.1-2.5. (d) If the area is located within an allocation area as defined in I.C. 36-7-14-39, as declared by the South Bend Redevelopment Commission, the Council shall not adopt a declaratory resolution declaring an area to be an economic revitalization area for purposes of either real property tax deduction or personal property tax deduction if the Commission has not adopted a resolution approving the petition. (e) Upon adoption of the declaratory resolution, the City Clerk shall cause notice of the adoption to be published pursuant to I.C. 5-3-1, and shall include in the notice information about the adoption of the declaratory resolution, the substance of the resolution, that a description of the affected area is available and can be inspected in the County Assessor' s office, the date when the Common Council will receive and hear all remonstrances and objections from interested persons; and any other information required by I.C. 6-1. 1-12.1-2.5. (f) Following the legal publication and on the date published in the legal notice, a public hearing on the declaratory resolution shall be held by the Council, at which time the Council shall receive and hear all remonstrances and objections from interested persons pertaining to the petition. At the public hearing, the Council shall determine whether the petition complies with this Article and with I .C. 6-1. 1-12.1, and shall consider all pertinent requirements for economic revitalization areas prior to taking final action determining whether the petition meets qualifications for an economic revitalization area and confirming, modifying and confirming, or rescinding the declaratory resolution. The determination of Council is final except that an appeal may be taken and heard as provided by I.C. 6-1.1-12.1-2. 5 (d) and (e) . (g) A designation as an economic revitalization area shall expire, and the declaratory resolution shall so state, one year from the adoption of the declaratory resolution, if during that year a building permit has not been issued for the proposed project if the area was declared for real property tax abatement, or new manufacturing equipment as defined by I.C. 6-1.1-12.1-1 has not been installed within the area declared for personal property tax abatement. (h) A designation as an economic revitalization area shall expire, and the declaratory resolution shall so state, two years from the effective date of the declaratory resolution. (i) All procedures and determinations under this Article shall be consistent with I.C. 6-1.1-12.1-1 et seq. , and as amended from time to time, and in case of any inconsistency or conflict with the statutory provisions, those statutory provisions shall apply. Section 2-78. Annual Reports Required.