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SECTION IV. The Common Council hereby accepts the report and recommendation of <br />the Human Resources and Economic Development Committee that the area herein <br />described be designated an Economic Revitalization Area and hereby adopts a <br />Resolution designating this area as an Economic Revitalization Area for purposes of real <br />property tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area shall be limited to <br />two (2) calendar years from the date of the adoption of this Resolution by the Common <br />Council. <br />SECTION VI. The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax deduction for a period of ten (10) years. <br />SECTION VII. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution for Real Property Tax Abatement to be <br />published pursuant to Indiana Code 5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, said <br />publication providing notice of the public hearing before the Common Council on the <br />proposed confirming of said declaration. <br />SECTION VIII. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approval by the Mayor. <br />1 Qembe the Common Council <br />[all signed only to yi•ovice un <br />opportunity 1'or public rl]scuseios <br />-e,*d fauaoa action on the issus, <br />3 <br />!RESENTED G/aW? -q <br />NOT APPROVED <br />c 63OP.TED <br />Filed in Clerk's Office <br />IRENE GAMMON <br />CITY CLERK, SO. BEND. IN,. <br />