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SECTION I. The Common Council hereby confirms its Declaratory Resolution <br />designating the area described herein as an Economic Revitalization Area for the <br />purposes of tax abatement. Such designation is for Real property tax abatement only and <br />is limited to two (2) calendar years from the date of adoption of the Declaratory <br />Resolution by the Common Council. <br />SECTION II. The Common Council hereby determines that the property owner is <br />qualified for and is granted Real property tax deduction for a period of seven (7) years, <br />and further determines that the petition, the Memorandum of Agreement between the <br />Petitioner and the City of South Bend, and the Statement of Benefits comply with <br />Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code <br />64.1 -12 et seq. <br />SECTION III. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approved by the Mayor. <br />PRESENTED <br />NOT APPROVED. <br />ADOPTECi <br />VL <br />Member of the Common Council <br />Hed in Clark's Ot FIC8 <br />AUG 1 5 2001 <br />JOHN VOORDE <br />CITY CLERK, $0, SEND, IN. <br />