Designating Tax Abatement - First Federal Savings Bank Royal Oak Estates - Sections 2 & 3 (5 Year Residential Property)

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SECTION VII. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of five (5) years. SECTION VIII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code 5-3-1 and Indiana Code 6-1.1-12.1-2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION IX. Pursuant to Indiana Code 6-1.1-12.1-2, the rehabilitation must meet all local code standards for habitability as a specific condition of having such property designated as a residentially distressed area. SECTION X. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. ~~ Member e Common Counci PKESENTED ~ ~ -~~ ~ O~ NOT APPROVED ~+ Filed in Clerk's ®fflce NOV - q. 2008 JDHt! VOORDE CITY ClE~1K, 50. BEND, iN.