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Economic Revitalization Area for purposes of real property tax abatement. <br /> SECTION V. The designation as an Economic Revitalization Area shall be limited to <br /> three (3) calendar years from the date of the adoption of this Resolution by the Common <br /> Council. The Common Council determines to make the three (3) calendar year designation rather <br /> than the two (2) calendar year designation due to the size and scope and the complexity of the <br /> rehabilitation of the property. <br /> SECTION VI. The Common Council hereby determines pursuant to Indiana Code 6-1.1- <br /> 12.1-17 that the property owner is qualified for and is granted a property tax deduction for a <br /> period of ten (10) years as provided in the following alternate abatement schedule: <br /> Real Property <br /> Year Abatement <br /> 1 100% <br /> 2 100% <br /> 3 90% <br /> 4 85% <br /> 5 85% <br /> 6 85% <br /> 7 85% <br /> 8 60% <br /> 9 60% <br /> 10 60% <br /> SECTION VII. The Common Council directs the City Clerk to cause notice of the <br /> adoption of this Declaratory Resolution for Real Property Tax Abatement to be published <br /> pursuant to Indiana Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication providing <br /> notice of the public hearing before the Common Council on the proposed confirming of said <br /> declaration. <br /> SECTION VIII. This Resolution shall be in full force and effect from and after its <br /> adoption by the Common Council and approval by the Mayor. <br /> Member e Common Council <br /> LES tt . <br /> [7:::2 2 2015 <br /> Par APPROVED <br /> RIFID iet-;• ;t00 ME <br /> - 3 - crn'c't. ri;6, aOUTH BEND,IN <br /> US.78539049.02 ....,.�........--•---- <br />