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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 II. The Common Council hereby determines that the property owner is qualified for <br />and is granted Real property tax deduction for a period of five (5) years, and further determines <br />that the petition, the Memorandum of Agreement between the Petitioner and the City of South <br />Bend and the Statement of Benefits comply with Chapter 2, Article 6, of the Municipal Code of <br />the City of South Bend and Indiana Code 6- 1.1 -12 et sue. <br />SECTION III. 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 />g: <br />Member of the Common touncil <br />PRESENTED <br />NOT APPROVED <br />ADOPTED <br />Filed In Clerk's Office <br />SEP - 7 2004 <br />K <br />