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E. The deduction will not be allowed unless the dwelling is rehabilitated to meet local <br />code standards for habitability. <br />F. The deduction will not be allowed unless the dwelling rehabilitation is completed <br />within five (5) calendar years from the date of the adoption of this Resolution by the <br />Common Council. <br />SECTION IV. The Common Council hereby confirms its Declaratory Resolution designating <br />the area described herein as a Residentially Distressed Area for the purposes of tax abatement. <br />Such designation is for Real property tax abatement only and is limited to five (5) calendar years <br />from the date of adoption of the Declaratory Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the property owner is qualified for <br />and is granted Real property tax deduction for a period of five (5) years, and further determines <br />that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South <br />Bend and Indiana Code 6-1.1-12.1 et sea. <br />SECTION VI. This Resolution shall be in full force and effect from and after its adoption by the <br />Common Council and approval by the Mayor. <br />'RESENTED ~ -2-3 -8 <br />N07 APPRO.~'Et3 <br />ADOPTED '' ~{ -L 3 -o~ <br />Member of the Co on Council <br />3 <br />Filed In Cierk'~ Office <br />APR 1 0 2007 <br />JOHN YOORDE <br />CftY CLEflK, S0. BEND, iN. <br />