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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 sew.; 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 />Member of the Co on Council <br />PRESENTED ~-ZL~~ <br />NOT APPROVED <br />ADOPTED ~ _ZL-Og <br />File !~ ~l~::~~~'~ ~, <br />SEP - 3 2608 <br />JOHN VOOf~OE <br />CITY CLEn{C, S0__ S~ ~N•_ <br />