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SECTION III That the Common Council hereby determines and finds that the <br /> proposed described redevelopment or rehabilitation can be reasonably expected <br /> to yield the benefits identified in the statement of benefits set forth as <br /> sections 1 through 3 of the Petition for Real Property Tax Abatement <br /> Consideration and that the statement of benefits is sufficient to justify the <br /> deduction granted under Section 6-1.1-12.1-3 of the Indiana Code. <br /> SECTION IV That the Common Council hereby accepts the report and <br /> recommendation of the Human Resources and Economic Development Committee that the <br /> area herein described be designated an Economic Revitalization Area and hereby <br /> adopts a resolution designating this area as Economic Revitalization Area for <br /> purposes of real property tax abatement. <br /> SECTION V That the designation as an Economic Revitalization Area shall be <br /> limited to two (2) calendar years from the date of the adoption of this <br /> Resolution by the Common Council. <br /> SECTION VI That the Common Council hereby determines that the property owner <br /> is qualified for and is granted property tax deduction for a period of ten (10) <br /> years. <br /> SECTION VII This Resolution shall be in full force and effect from and after <br /> its adoption by the Common Council and approval by the Mayor. <br /> / Membe/ of the ommon Coun/ <br /> Filed In Clerk's Office <br /> a _ vc-/ DEC 161987 <br /> PRESENTED . a <br /> NOT APPROVED IRENE GAMMON <br /> -p CITY CLERK, SD. BEND, IN. <br /> ADOPTED l . - • --- T / <br />