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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