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6 -1.1- 12.1 -3. <br />SECTION IV. The Common Council hereby accepts the report and <br />recommendation of the Human Resources and Economic Development <br />Committee that the area herein described be designated an Economic <br />Revitalization Area and hereby adopts a Resolution designating this <br />area as an Economic Revitalization Area for purposes of real <br />property tax abatement. <br />SECTION V. The designation as an Economic Revitalization 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 <br />property owner is qualified for and is granted property tax <br />deduction for a period of ten (10) 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 <br />§§ 5 -3 -1 and Indiana Code § 6 -1.1- 12.1 -2.5, said publication <br />providing notice of the public hearing before the Common Council on <br />the proposed confirming of said declaration. <br />SECTION VIII. This Resolution shall be in full force and effect <br />from and after its adoption by the Common Council and approval by <br />the Mayor. <br />Z,ce <br />PRESENTED -.� <br />NOT APPROVED <br />ADOPTED 5 -.- <br />the Common Council <br />Flied in Clerk -s Office <br />L --ii <br />WAMOAMMM <br />E <br />GiN <br />