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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 South <br />Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the <br />area described herein as an Economic Revitalization Area for the purposes of tax abatement. <br />Such designation is for personal property tax abatement and is limited to ten (10) calendar years <br />from the date of adoption of the Declaratory Resolution by the Common Council. <br />SECTION II. The Common Council hereby determines that the property owner and future <br />tenants located within the economic revitalization area are qualified for and granted personal <br />property tax deductions for a period of five (5) years, and further determines that the petition <br />complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana <br />Code 6- 1.1 -12 et M.; provided however, that neither the Petitioner nor any tenants may receive <br />an economic revitalization area deduction if it receives an enterprise zone investment deduction <br />under I.C. 6- 1.1 -45 for the same property. <br />SECTION III. This Resolution shall be in full force and effect from and after its adoption by the <br />Common Council and approved by the Mayor. <br />PRESENTED 4�-F -6r <br />NOT APPROVED <br />ADOPTED <br />Member of the Common Counci <br />N <br />E 200h1 rsoES ND, IN. <br />CITY CL1 nK, <br />