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SECTION IV. The Common Council hereby confirms its Declaratory Resolution designating the <br />area described herein as a Residentially Distressed Area for the purposes of tax abatement. Such <br />designation is for Real property tax abatement only and is limited to five (5) calendar years from <br />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 the <br />Common Council and approval by the Mayor. <br />PRESENTED b -2_3 -133 <br />NOT APPROVED <br />ADOPTED (o -2,3 - b 3 <br />7C� <br />Merrlber of the Common Cokincil <br />[MAY 2 7 2003 <br />City CiEEM.,. _ PEND, K <br />