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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 Real property tax abatement only and is limited to two (2) calendar years <br />from the date of adoption of the Declaratory Resolution by the Common Council. <br />SECTION 11. The Common Council hereby determines that the annual amount for which <br />similar buildings in the county were leased or rented or offered for lease or rent during the <br />period the eligible vacant building was unoccupied is approximately in the amount of <br />$144,600. <br />SECTION III. The Common Council hereby determines that the property owner is qualified for <br />and is granted Real property tax deduction for a period of two (2) years as shown by the <br />attachment pursuant to Indiana Code 6 -1.1- 12.1 -17, and further determines that the petition, the <br />Memorandum of Agreement between the Petitioner and the City of South Bend, and the <br />Statement of Benefits comply with Chapter 2, Article 6, of the Municipal Code of the City of <br />South Bend and Indiana Code 6- 1.1 -12 et se g. <br />SECTION IV. 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 qv�'o <br />NO.T. APPP0.VEGt <br />Filed in Clerk's Office <br />APR 2 3 2014 <br />CITY CLEF.':,, J (K —REND, IN <br />