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SECTION III. That the Common Council hereby determines <br />and finds that the proposed described redevelopment or rehabilita- <br />tion can be reasonably expected to yield the benefits identified in <br />the statement of benefits set forth as sections 1 through 3 of the <br />Petition for Real Property Tax Abatement Consideration and that the <br />statement of benefits is sufficient to justify the deduction <br />granted under Section 6 -1.1- 12.1 -3 of the Indiana Code. <br />SECTION IV. That the Common Council hereby <br />report and recommendation of the Human Resources and <br />Development Committee that the area herein described <br />an Economic Revitalization Area and hereby adopts a <br />designating this area as an Economic Revitalization <br />purposes of real property tax abatement. <br />accepts the <br />Economic <br />be designated <br />resolution <br />Area for <br />SECTION V. That the designation as an Economic <br />Revitalization Area shall be limited to two (2) calendar years from <br />the date of the adoption of this Resolution by the Common Council. <br />SECTION VI. That the Common Council hereby determines <br />that the property owner is qualified for and is granted property <br />tax deduction for a period of .ten ( 10 ) years. <br />SECTION VII. 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 />PRESENTED of - a a g�_ <br />NOT APPROVED <br />ADOPTED o f -1 a - '9g <br />BL /CC /1 <br />