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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 mixed -use development real property tax abatement only and shall expire on <br />December 31, 2027. <br />SECTION II. The Common Council hereby determines that the property owner is qualified for <br />and is granted real property tax deduction for up to a period of eight (8) years as shown by the <br />schedule outlined below as well as the attachment pursuant to Indiana Code 6-1.1-12.1-17 and <br />further determines that the petition, the Memorandum of Agreement between the Petitioner and <br />the City of South Bend, and the Statement of Benefits comply with Chapter 2, Article 6, of the <br />Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq. <br />Year 1 - 100% <br />Year 2 - 100% <br />Year 3 - 100% <br />Year 4 - 100% <br />Year s-95% <br />Year6-95% <br />Year?-90% <br />Year 8 - 90% <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 />Attest: <br />Bianca Tirad <br />Office of the <br />ity Clerk <br />ity Clerk <br />rAk <br />Sharon McBride, Council President <br />South Bend Common Council <br />,v <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 15`'' day of October , 2024, at 12 o'clock <br />p.m. <br />Bianca Tirado, Cit erk <br />Office of the City erk <br />Approved and signed by me on the )71" day of Qdlhr , 2024, at -1 o'clock <br />kJa s Mueller, Mayor <br />Ci of South Bend <br />