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SECTION VI. The designation as a Residentially Distressed Area shall be limited to five (5) <br />calendar years from the date of the adoption of this Resolution by the Common Council. <br />SECTION VII. The Common Council hereby determines that the property owner is qualified for <br />and is granted property tax deduction for a period. of five (5) years. <br />SECTION VIII. 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 on the proposed confirming of said declaration. <br />SECTION IX. Pursuant to Indiana Code 6- 1.1- 12.1 -2, the rehabilitation must meet all local code <br />standards for habitability as a specific condition of having such property designated as a <br />residentially distressed area. <br />SECTION X. This Resolution shall be in full force and effect from and after its adoption by the <br />Common Council and approval by the Mayor. <br />rRE-SENTED <br />NOT APPfOVEQ <br />ADOPTEQ <br />8 <br />Member of the Common Couneil <br />49♦ry � �! 1 N.R.,/ .E!� Y5<_� ! J�L dye .a 1 <br />, aitg Cep L: i�:7 ! +`. 7 €:: thsi' i ;.e 7 <br />and <br />Gownci VAQ.i oil US !&Suof ; <br />Filed--In--Clerk's Office <br />I,CP <br />t: dii,4 : J4'11iL <br />c1TY <br />