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SECTION III. That the Common Council hereby determines <br /> and finds that the proposed described redevelopment or rehabilitation <br /> 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 accepts the <br /> report and recommentation of the Human Resources and Economic <br /> Development Committee that the area herein described be designated <br /> an Economic Revitalization Area and hereby adopts a resolution designating <br /> this area as an Economic Revitalization Area for purposes of real property <br /> tax abatement. <br /> SECTION V. That the designation as a Economic Revitalization <br /> 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 (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 /> 1 (1 i - /�,. <br /> 'ember .f the ommon Cou .il <br /> Or <br /> Filed In Clerk's Office <br /> NOV 161987 <br /> PRSE <br /> E :TED Ii- - st 7 IRENE GAMMON <br /> NOT APPROVED CITY CLERK, SO. KENO, IN. <br /> ADOPTED 1 1- a 3 -7,---) -2 <br />