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SECTION III. The Common Council hereby determines and finds that the proposed <br />described redevelopment or rehabilitation can be reasonably expected to yield benefits <br />identified in the Statement of Benefits as set forth in Sections 1 through 3 of the Petition <br />for Real Property Tax Abatement Consideration, the Memorandum of Agreement <br />between the Petitioner and the City of South Bend, and that the Statement of Benefits <br />form completed by the petitioner, said form being prescribed by the State Board of <br />Accounts, are sufficient to justify the deduction granted under Indiana Code § 6-1.1-12.1- <br />3. <br />SECTION IV. The Common Council hereby accepts the report and recommendation of <br />the Community and Economic Development Committee that the area herein described be <br />designated as an Economic Revitalization Area and hereby adopts a Resolution <br />designating this area as an Economic Revitalization Area for purposes of real property <br />tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area shall be limited to <br />two (2) calendar years from the date of the adoption of this Resolution by the Common <br />Council. <br />SECTION VI. The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax deduction for a period nine (9) years. <br />SECTION VII. The Common Council directs the City Clerk to cause notice of the <br />.] a:,... F 1. T1 1 +...... Do 1 +;.. F r ~nol pr~nPrt~r Tav flhatement to }~a ~yhlic}~ad <br />GLLLopllVll Vl t111.S LGVlar CLLVl~' 1\lisV uuvn to• y~vu i i Nv ~ <br />pursuant to Indiana Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication <br />providing notice of the public hearing before the Common Council on the proposed <br />confirming of said 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 of the Common council <br />c~~~n~.y f~~ p.3~~~ : fi>.~a~~g and <br />PRESENTED <br />NOT APPg'.O`I~~J <br />File !~ ~~~~~'~ ~~~€~® <br />JUN 1 7 2009 <br />dC~H~~ UQt319~E <br />CI7Y CLEi,K, ~'~. BEhD, IN. <br />~DOPTEI~ <br />