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SECTION IV. The Common Council hereby confirms its Declaratory Resolution designating <br />the areas described herein as Residentially Distressed Areas for the purposes of tax abatement. <br />Such designation is for Real property tax abatement only and is limited to five (5) calendar <br />years from the date of adoption of the Declaratory Resolution by the Common Council. <br />SECTION V. 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 complies with Chapter 2, Article 6, of the Municipal Code of the City of South <br />Bend and Indiana Code 6 -1.1 -12.1 et se g. <br />SECTION VI. 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 />PRESENTED F- z.S'03 <br />NOT APPROVED <br />ADOPTED 1� -2,- "--o <br />tuber of the Common Co ncil <br />Ned In Clerk's Office <br />AUG 4 < 7003 <br />tORHML am <br />C"OUN K,l0.®11 IK <br />