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SECTION III. The Common Council hereby accepts the report and recommendation of the <br />Department of Community and Economic Development, and the Community and Economic <br />Development Committee's favorable recommendation, that the area herein described be designated <br />as Economic Revitalization Area for purposes of personal property tax abatement and hereby makes <br />such a designation. <br />SECTION IV. The Common Council determines that such designation is for personal property tax <br />abatement only and shall be limited to two (2) calendar years from the date of the adoption of this <br />Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the property owner is qualified for and <br />is granted property tax deduction for a period of five (5) years. <br />SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this <br />Declaratory Resolution to be published pursuant to Indiana Code 5 -3 -1, said publication providing <br />notice of the public hearing before the Common Council on said declaration. <br />SECTION VII. 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 />SBDS02 ICS 135236 <br />`PRESENTED G -U2 -o0 <br />NOT APPROVED <br />10 <br />Membe oft a ommonCouncil <br />Filed In Clerk's Office <br />JUN 0 7 2000 <br />LORETTA& DUDA <br />CITY CLERIC, 60. BEND, W. <br />ADOPTED b - (1--40.0 ___ - - - -- -- <br />