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SECTION III. The Common Council hereby accepts the report and recommendation of the <br />Department of Community Investment, and the Community Investment Committee's favorable <br />recommendation, that the area herein described be designated as an Economic Revitalization Area <br />for purposes of personal property tax abatement and hereby makes such a designation. <br />SECTION IV. The Common Council determines that such designation is for personal property <br />tax abatement only and shall be limited to two (2) calendar years from the date of the adoption of <br />this Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the property owner is qualified for <br />and is granted property tax deduction for a period of (5) five years as shown by the attachment <br />pursuant to Indiana Code 6 -1.1- 12.1 -17. <br />SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this <br />Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to Indiana <br />Code 5 -3 -1, said publication providing notice of the public hearing before the Common Council <br />on the proposed confirming of said declaration. <br />SECTION VII. 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 />NOT APPRO,YW <br />aDOP TEII ," <br />Member of the Common Council <br />Filets in Cleric's Office <br />QGT `Z- Z 1'14 <br />JOM10 VOOq6 <br />CITY CLERK, SOUTH FIEND, IN <br />