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SECTION IV. The Common Council hereby confirms its Declaratory Resolution <br />designating the area described herein as a Residentially Distressed Area for the purposes <br />of tax abatement. Such designation is for Real property tax abatement only and is limited <br />to five (5) calendar years from the date of adoption of the Declaratory Resolution by the <br />Common Council. <br />SECTION V. The Common Council hereby determines that the property owner is <br />qualified for and is granted Real property tax deduction for a period of five (5) years, and <br />further determines that the petition complies with Chapter 2, Article 6, of the Municipal <br />Code of the City of South Bend and Indiana Code 6 -1.1 -12.1 et se q. <br />SECTION VI. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approval by the Mayor. <br />Member of the Common CI,ncil <br />Filed(Clerk's Office <br />APR 2 0 2605 <br />PRESENTED 5-23-6S- <br />NOT APPROVED <br />ADOPTED S�Z3'OS <br />