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WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and <br />objections from interested persons; and <br />WHEREAS, the Council has determined that the qualifications for an economic revitalization area <br />have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, <br />Indiana, as follows: <br />SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area <br />described herein as an Economic Revitalization Area for the purposes of tax abatement. Such <br />designation is for personal 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 II. The Common Council hereby determines that the property owner is qualified for and <br />is granted personal property tax deduction for a period of five (5) years, and further determines that <br />the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and <br />Indiana Code 6 -1.1 -12.1 et seq. <br />SECTION III. 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 />FADOCS \CLIENTS \CHER OLLMO\FOR .2 <br />PRESENTED ,�- Z-/ <br />NOT APPROVER <br />ADOPTED 2"26o - 96 <br />Member ofthe Commo Council <br />[JA 2 4 - <br />