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a. The estimate of the cost of the new telecommunication and network equipment is <br /> reasonable for equipment of that type; <br /> b. That the estimate of the number of individuals that will be employed or whose <br /> employment will be retained by the Petitioner can reasonably be expected to result <br /> from the proposed installation of new telecommunication and network equipment; <br /> c. That the estimate of the annual salaries of those individuals that will be employed or <br /> whose employment will be retained by the Petitioner can be reasonably expected to <br /> result from the proposed installation of new telecommunication and network <br /> equipment; <br /> d. Any other benefits about which information was requested are benefits that can be <br /> reasonably expected to result from the proposed new telecommunication and network <br /> equipment; and <br /> e. The totality of benefits is sufficient to justify the deduction requested. <br /> SECTION II. The Common Council hereby determines and finds that the proposed new <br /> telecommunication and network equipment can be reasonably expected to yield the benefits <br /> identified in the Statement of Benefits as set forth in Sections 1 through 3 of the Petition for Personal <br /> Property Tax Abatement Consideration and that Statement of Benefits form completed by the <br /> petitioner, said form being prescribed by the State Board of Accounts, are sufficient to justify the <br /> deduction granted under Indiana Code 6-1.1-12.1-4.5. <br /> SECTION III. The Common Council hereby accepts the report and recommendation of the <br /> Department of Community Investment, and the Community Investment Committee's favorable <br /> recommendation,that the area herein described be designated as an Economic Revitalization Area <br /> for purposes of personal property tax abatement and hereby makes such a designation. <br /> SECTION IV. The Common Council determines that such designation is for personal property tax <br /> abatement only and shall be limited to three(3)calendar years from the date of the adoption of this <br /> Resolution by the Common Council. <br /> SECTION V. The Common Council hereby determines that the property owner is qualified for and <br /> is granted property tax deduction for a period of(5) five years as shown below pursuant to Indiana <br /> Code 6-1.1-12.1-17. <br /> Year 1-100% <br /> Year 2- 90% <br /> Year 3- 80% <br /> Year 4- 70% <br /> Year 5- 60% <br /> SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this <br /> 2 <br />