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WHEREAS, the Council held a public hearing for the purposes <br />of hearing all remonstrances and objections from interested <br />persons; and <br />WHEREAS, the Council has determined that the qualifications <br />for an economic revitalization area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the <br />City of South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby confirms its <br />Declaratory Resolution designating the area described herein as <br />an Economic Revitalization Area for the purposes of tax <br />abatement. Such designation is for personal property tax <br />abatement only and is limited to two (2) calendar years from <br />the date of adoption of the Declaratory Resolution by the <br />Common Council. <br />SECTION II. The Common Council hereby determines that the <br />property owner is qualified for and is granted personal <br />property tax deduction for a period of five (5) years. <br />SECTION III. This Resolution shall be in full force and <br />effect from and after its adoption by the Common Council and <br />approval by the Mayor. <br />5353K <br />PRESENTED 11-9S--0-8 <br />NOT APPROVED <br />ADOPTED k l -,;t 8 8 <br />Member of the Common Council <br />-2- <br />9i In Vprk's ON. <br />NOV 2 2 1988 <br />