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Property Tax Abatement Consideration and the Memorandum of Agreement between the <br />Petitioner and the City of South Bend, and that the Statement of Benefits form completed <br />by the Petitioner, said form being prescribed by the State Board of Accounts, are <br />sufficient to justify the deduction granted under Indiana Code § 6- 1.1- 12.1 -3, and the <br />Statement of Benefits is hereby approved. <br />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 ten <br />(10) 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 Petitioner is qualified <br />for and is granted property tax deductions for a period of ten (10) 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 Co cil <br />Council �,,.! :il on <br />PRESENTED �_ZS'. vS <br />;�C)T APPROVED <br />TDOPTED <br />Filed In VVW3 Mice <br />AUG 7_n, -2008 <br />,IO'iN 110ORDE <br />CITY CLERK, So. GEND, IN. <br />