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NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br /> Bend, Indiana, as follows: <br /> SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the <br /> area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such <br /> designation is for personal property tax abatement only and shall expire on December 31, 2026. <br /> SECTION II. The Common Council hereby determines that the property owner is qualified for <br /> and is granted personal property tax deduction for a period of five (5) years as shown below <br /> pursuant to Indiana Code 6-1.1-12.1-17 and further determines that the petition,the Memorandum <br /> of Agreement between the Petitioner and the City of South Bend, and the Statement of Benefits <br /> comply with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana <br /> Code 6-1.1-12 et seq. <br /> Year 1 - 100% <br /> Year 2 - 90% <br /> Year 3 - 80% <br /> Year 4 - 70% <br /> Year s - 60% <br /> SECTION III. This Resolution shall be in full force and effect from and after its adoption by the <br /> Common Council and approved by the Mayor. <br /> Sharon McBride, Council President <br /> South Bend Common Council <br /> Attest: <br /> Bianca Tirado, City Clerk <br /> Office of the City Clerk <br /> Presented by me, the undersigned Clerk of the City of South Bend, to the Mayor of the <br /> City of South Bend, Indiana, on the day of , 2024, at <br /> o'clock .m. <br /> Bianca Tirado, City Clerk <br /> Office of the City Clerk <br />