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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 01-2-3-02- <br />NOT APPROVED <br />ADOPTED Q - Z 3 - OZ <br />--; "/ lC!' <br />Member of the Common Cour it <br />Filed in Cierk!s Office <br />rEP 0 J 2002 <br />CITYCLEB16. go. B ND, IN, <br />