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WHEREAS, the Council held a public hearing for the purposes of hearing all <br />remonstrances and objections from interested persons; and <br />WHEREAS, the Council has determined that the qualifications for an economic <br />revitalization area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby confirms its Declaratory Resolution <br />designating the area described herein as an Economic Revitalization Area for the <br />purposes of tax abatement. Such designation is for Personal property tax abatement only <br />and is limited to two (2) calendar years from the date of adoption of the Declaratory <br />Resolution by the Common Council. <br />SECTION II. The Common Council hereby determines that the properly owner is <br />qualified for and is granted Personal property tax deduction for a period of five (5) years, <br />and further determines that the petition complies with Chapter 2, Article 6, of the <br />Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seg.; provided <br />however,. the Petitioner may not receive an economic revitalization area deduction if it <br />xeceives an enterprise zone investment deduction under I:C. 6-1.1-45 for the same <br />property. <br />SECTION III. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approved by the Mayor. <br />Member of t e Common Co ncil <br />Signing of this bill is cnt}J to provide <br />an opportunity for p!:bitc Nearing and <br />Council action an this issue_ <br />_r1TED 7-Z-~f-08 <br />MOT APPRUVEi <br />ADOPTEC~ <br />~----- <br />~i~~~ ~~ ~~~~4~':~ ~f~ic~ <br />JUL ~ 3 2008 <br />,10 ~ V{7GR:~E <br />G1TY Ct~~k., So. r;~Fi~?r~ ~~ ~• <br />