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REGULAR MEETING <br />JULY 28,201 <br />redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the <br />Statement of Benefits, Sections I through 3 of the Petition for Real Property Tax Abatement <br />Consideration and the Memorandum of Agreement between the Petitioner and the City of South <br />Bend, and that the Statement of Benefits form completed by the petitioner, said form being <br />prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under <br />Indiana Code § 6-1.1- 12.1 -3. <br />SECTION IV. The Common Council hereby accepts the report and recommendation of the <br />Community Investment Committee that the area herein described be designated as an Economic <br />Revitalization Area and hereby adopts a Resolution designating this area as an Economic <br />Revitalization Area for purposes of real property tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) <br />calendar years from the date of the adoption of this Resolution by the Common Council. <br />SECTION VI. The Common Council hereby determines that the property owner is qualified for <br />and is granted property tax deduction for a period of seven (7) years as shown by the attachment <br />pursuant to Indiana Code 6 -1.1- 12.1 -17. <br />SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of <br />this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana <br />Code § 5 -3 -1 and Indiana Code § 6 -1.1- 12.1 -2.5, said publication providing notice of the public <br />hearing before the Common Council on the proposed confirming of said declaration. <br />SECTION VIII. This Resolution shall be in fall force and of »-apd after its adoption by <br />the Common Council and approval by the Ma Y ef, / 1 <br />PRESENTED ?- 14 <br />NOT ABPiOAA <br />Filed in _ . <br />CITY ClAx, al:4 f ti &ENO, IN <br />Presenter - Rich Deal, Office 100 N. Michigan St- we request your approval on the resolution before <br />you with an investment of over $12 million to construct two separate catalyst facilities in Ignition Park <br />in partnership with the University of Notre Dame to fulfill the cities mission in innovation and <br />technology. <br />17 <br />