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SECTION IV. The Common Council hereby confirms its Declaratory Resolution designating <br />the area described herein as a Residentially Distressed Area 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 <br />for and is granted Real property tax deduction for a period of five (5) years, and further <br />determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the <br />City of South 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 6 -1y -`( I <br />NOT APPROVED <br />ADOPTED <br />Member of the Common Council <br />Filed in Clerk's Office <br />MAY 1 4 1999 <br />LORMAJ. DUDA <br />CITY DLEAK, 50, BEND, IN. <br />