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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 sea. <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 B -2-S -03 <br />NOT APPROVED <br />ADOPTER -J"O' S— �5"U <br />ember of the Common Council <br />3 <br />Filed In Clerk's Office <br />AUG 0 4 2003 <br />LO A d. M= <br />0R1'0LB K GQ 0M IN. <br />