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SECTION IV. The Common Council hereby accepts the report and <br />recommendation of the Department of Community and Economic <br />Development that the area herein described be designated as a <br />Residentially Distressed Area and hereby adopts a Resolution <br />designating this area as a Residentially Distressed Area for <br />purposes of real property tax abatement. <br />SECTION V. The designation as a Residentially Distressed Area <br />shall be limited to two (2) calendar years from the date of the <br />adoption of this Resolution by the Common Council. <br />SECTION VI. The Common Council hereby determines that the property <br />owner is qualified for and is granted property tax deduction for a <br />period of five (5) years. <br />SECTION VII. The Common Council directs the City Clerk to cause <br />notice of the adoption of this Declaratory Resolution for Real <br />Property Tax Abatement to be published pursuant to Indiana Code S <br />5 -3 -1 and Indiana Code S 6 -1.1- 12.1 -2.5, said publication providing <br />notice of the public hearing before the Common Council on the <br />proposed confirming of said declaration. <br />SECTION VIII. Pursuant to Indiana Code S 6 -1.1- 12.1 -2, the <br />Petitioner must meet all local code standards for habitability as <br />specific conditions of having such properties being designated <br />residentially distressed areas. <br />SECTION IX. This Resolution shall be in full force and effect from <br />and after its adoption by the Common Council and approval by the <br />Mayor. <br />PRESENTED �f - / M5 <br />NOT APPROVED <br />ADOPTED 9 -/y —JS 4S A M011b6D <br />Red in Clerk's Office <br />JU 1,9 ' _j <br />IRENEGAMMON <br />CFTYCLEAV,50. BEND, IN <br />