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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 yifull <br />Common Council and approval by the yor. <br />NOT APPRO,Wd <br />effect from and after its adoption by the <br />Council <br />File in Clerk's Office <br />ACT Z 2 2014 <br />JOHN VOOR ®E <br />CITY CLERK, SOUTH SEND, IN <br />