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SECTION IV. The Common Council hereby accepts the report and recommendation of <br />the Community and Economic Development Committee that the area herein described be <br />designated as an Economic Revitalization Area and hereby adopts a Resolution <br />designating this area as an Economic Revitalization Area for purposes of real property <br />tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area shall be limited to <br />two (2) calendar years from the date of the adoption of this Resolution by the Common <br />Council. <br />SECTION VI. The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax deduction for a period of up to six (6) years. <br />SECTION VII. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution for Real Property Tax Abatement to be published <br />pursuant to Indiana Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication <br />providing notice of the public hearing before the Common Council on the proposed <br />confirming of said declaration. <br />SECTION VIII. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approval by the Mayor. <br />Member of the Common Council <br />Signing of this bill is only to provide <br />an opportuni#y for p:ibiic hearing and <br />Council action on this issue., <br />~-'RFSFNTFD ~ -~~-O~?' <br />NO"f rlPPit©VE~ <br />7~,DOPTE~ <br />J U L ? 3 208 <br />J(1i1't= l~C~ca~ ~~ <br />c~R'r cf,~~ ~~ti, sc~. ~~~Y~, ~~. <br />