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SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area <br />described herein as an Economic Revitalization Area for the purposes of tax abatement. Such <br />designation is for Real property tax abatement only and is limited to two (2) calendar years from the <br />date of adoption of the Declaratory Resolution by the Common Council. <br />SECTION II. The Common Council hereby determines that the property owner is qualified for and <br />is granted Real property tax deduction for a period of 9 years, and further determines that the <br />petition, the Memorandum of Agreement between the Petitioner and the City of South Bend, and the <br />Statement of Benefits comply with Chapter 2, Article 6, of the Municipal Code of the City of South <br />Bend and Indiana Code 6- 1.1 -12 et se . <br />SECTION III. This Resolution shall be in full force and effect from and after its adoption by the <br />Common Council and approved by the Mayor. <br />SBDS02 R]D 3 ] 6305v I <br />PRESENTED <br />NOT A.PPRovw <br />DOPTE0 <br />-2- <br />Member of the Common Council,! <br />Filed In Clerk's Off1C0 <br />M Ay 2 g 2007 <br />JOHN VOQRDE <br />CITY CLERK, SCE. BVID, IN. <br />