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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 seven (7) 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 />~' ~ <br />Member f he Common Council <br />S <br />r(ctSLyTEp ~ -L~,dg ClS u~oS~~'`~~c <br />;,~i;,T APPROVED <br />~a~oP~ED, ~ ~ -L~-erg ~ S S ~~s-~--~,~-u~ ~~ <br />Fi~~~ ~l? ~i~r':~'~ ®f~ice <br />~ ~. 4 2008 <br />JOHt7 Y~0 BEND IN. <br />CITK CLEnK, <br />