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F. That the totality of benefits is sufficient to justify the requested deduction, all of <br /> which satisfy the requirements of Indiana Code § 6-1.1-12.1-3. <br /> SECTION III. The Common Council hereby determines and finds that the proposed described <br /> redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the <br /> Statement of Benefits, Sections 1 through 3 of the Petition for Real Property Tax Abatement <br /> Consideration and the Memorandum of Agreement between the Petitioner and the City of South <br /> Bend, and that the Statement of Benefits form completed by the petitioner, said form being <br /> prescribed by the State Board of Accounts, are sufficient to iustify the deduction granted under <br /> Indiana Code § 6-1.1-12.1-3. <br /> SECTION IV. The Common Council hereby accepts the report and recommendation of the <br /> Community and Economic Development Committee that the area herein described be designated <br /> as an Economic Revitalization Aree and hereby adopts a Resolution designating this area as an <br /> Economic Revitalization Area for purposes of real property t:x abatement. <br /> SECTION V. The designation as an Economic Revitalizatio ; Area shall be limited to two (2) <br /> calendar years from the date of the adoption of this Resolution by the Common Council. <br /> SECTION VI. The Common Council hereby determines that the property owner is qualified for <br /> and is granted property tax deduction for a period of seven (7) years as shown by the attachment <br /> pursuant to Indiana Code 6-1.1-12.1-17. <br /> SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of <br /> this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana <br /> Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication providing notice of the public <br /> hearing before the Common Council or. the proposed confirming of said declaration. <br /> SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by <br /> the Common Council and approval by he Mayor. <br /> Member of the Common Co neil <br /> Soing of F-, "! is onty to prov'de an <br /> 8 <br /> opporr:nhr cur !��:U':., h8�ii111 8nd <br /> cotulcil action on this!S64 <br /> i <br /> PRESENtED - ,r <br /> NOT APPROVED <br /> ADOPTED <br />