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WHEREAS, the Council has determined that the qualifications for an economic <br />revitalization area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby confirms its Declaratory Resolution <br />designating the area described herein as an Economic Revitalization Area for the <br />purposes of tax abatement. Such designation is for Personal property tax abatement only <br />and is limited to two (2) calendar years from the date of adoption of the Declaratory <br />Resolution by the Common Council. <br />SECTION II. The Common Council hereby determines that the property owner is <br />qualified for and is granted personal property tax deduction for a period of five (5) years, <br />and further determines that the petition, the Memorandum of Agreement between the <br />Petitioner and the City of South Bend and the Statement Of Benefits comply with <br />Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code <br />6- 1.1 -12 et se q. <br />SECTION III. 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 />PRESENTED �'Zk°-oy <br />NOT APPROVED <br />ADOPTEO. o, ,2b ,O <br />Filed In CIONS OfftG <br />CITY CLERK, SO. <br />