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RESOLUTION NO /5ya'c?0 <br />A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION <br />DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND COMMONLY <br />KNOWN AS 516 SOUTH MICHIGAN, TO BE AN ECONOMIC REVITALIZATION <br />AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT. <br />WHEREAS, the Common Council of the City of South Bend has adopted a <br />Declaratory Resolution designating certain areas within the City as <br />Economic Revitalization Areas for the purpose of tax abatement <br />consideration; and <br />WHEREAS, a Declaratory Resolution designated the area commonly known <br />as 516 South Michigan, and which is more particularly described as <br />follows: <br />South 1/2 Lot #9 Samuel Martin's Addition <br />as an Economic Revitalization Area; and <br />WHEREAS, notice of the adoption of a Declaratory Resolution and the <br />public hearing before the Council has been published pursuant to Indiana <br />Code 6 -1.1- 12.1 -2.5; and <br />WHEREAS, the Council held a public hearing for the purposes of hearing <br />all remonstrances and objections from interested persons; and <br />WHEREAS, the Council has determined that the qualifications for an <br />economic revitalization area have been met. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the city of <br />South Bend, Indiana, as follows: <br />SECTION I. That the Common Council hereby confirms its Declaratory <br />Resolution designating the area described herein as an Economic <br />Revitalization Area for the purposes of tax abatement. Such designation <br />is for real property tax abatement only and is limited to two (2) calender <br />years from the date of adoption of the Declaratory Resolution by the <br />Common Council. <br />SECTION II. That the Common Council hereby determines that the <br />property owner is qualified for and is granted real property tax deduction <br />for a period of six (6) years. <br />SECTION III. This Resolution shall be in full force and effect from <br />and after its adoption by the Common Council and approval by the Mayor. <br />ember f the Common Council <br />PRESENTED i - � 5- 8 � <br />NOT APPROVED <br />ADOPTED <br />