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SECTION III. The Common Council also hereby determines and finds the following: <br />A. The deduction will not be allowed unless the dwelling is rehabilitated to meet local <br />code standards for habitability. <br />B. The deduction will not be allowed unless the dwelling rehabilitation is completed <br />within Five (5) calendar years from the date of the adoption of the Declaratory <br />Resolution by the Common Council. <br />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 years <br />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 seo. <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 />P:\MIKENTAXABATE\ABATES96kVALPLUS2.RFS <br />PRESENTED 7— g— �6 <br />NOT APPROVED <br />ADOPTED <br />Member of the Common Council <br />Filed in C:=: w '_ ,spice <br />E N � '1996 <br />LORETTAJ. DUDA <br />CITY CLERK So. BEND. K <br />