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SECTION IV. That the Common Council hereby accepts the report and <br />recommendation of the Human Resources and Economic Development Committee <br />that the area herein described be designated an Economic Revitalization <br />Area and hereby adopts a resolution designating this area as an Economic <br />Revitalization Area for purposes of real property tax abatement. <br />SECTION V. That the designation as an Economic Revitalization Area <br />shall be limited to two (2) calendar years from the date of the adoption <br />of this resolution by the Common Council. <br />SECTION VI. That the Common Council hereby determines that the <br />property owner is qualified for and is granted property tax deduction for <br />a period of six (6) years. <br />SECTION VII. 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 />Counc <br />PRESENTED <br />NOT APPROVED <br />ADOPTED -Q5- S <br />