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Statement of Benefits and the petition for real property tax abatement consideration and that <br />the Statement of Benefits form prescribed by the State Board of Accounts are sufficient to <br />justify the deduction granted under Indiana Code 6- 1.1- 12.1 -3. <br />SECTION V. The Common Council hereby accepts the report and recommendation of the <br />Community and Economic Development Committee that the area herein described be <br />designated as a Residentially Distressed Area and hereby adopts a Resolution designating this <br />area as a Residentially Distressed Area for purposes of real property tax abatement. <br />SECTION VI. The designation as a Residentially Distressed Area shall be limited to five (5) <br />calendar years from the date of the adoption of this Resolution by the Common Council. <br />SECTION VII. The Common Council hereby determines that the property owner is qualified <br />for and is granted property tax deduction for a period of five (5) years. <br />SECTION VIII. The Common Council directs the City Clerk to cause notice of the adoption <br />of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to <br />Indiana Code 5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, said publication providing notice of the <br />public hearing before the Common Council on the proposed confirming of said declaration. <br />SECTION IX. Pursuant to Indiana Code 6 -1.1- 12.1 -2, the rehabilitation must meet all local <br />code standards for habitability as a specific condition of having such property be designated as <br />a residentially distressed area. <br />SECTION X. This Resolution shall be in full force and effect from and after its adoption by <br />the Common Council and approval by the Mayor. <br />z, / ' 1 Z-4-j <br />Member of the Common Council <br />PRESENTED <br />NOT APPROVED 1 <br />ADOPTED <br />Filed in Clerk's office <br />NOV 19 2003 <br />LoWnTAJ. mm <br />6YTY CLERK, 66. BEND, @L <br />