Laserfiche WebLink
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 result from the <br />proposed installation of new manufacturing 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 manufacturing 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 />manufacturing equipment can be reasonably expected to yield the benefits identified in the Statement <br />of Benefits as set forth in Sections 1 through 3 of the Petition for Personal Property Tax Abatement <br />Consideration 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 -4.5. <br />SECTION III. The Common Council hereby accepts the report and recommendation of the <br />Department of Community and Economic Development, and the Community and Economic <br />Development Committee's favorable recommendation, that the area herein described be designated as <br />an Economic Revitalization Area for purposes of personal property tax abatement and hereby makes <br />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 two (2) 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 five (5) years. <br />SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this <br />Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to Indiana <br />Code 5 -3 -1, said publication providing notice of the public hearing before the Common Council on <br />the proposed confirming of said declaration. <br />SECTION VII. This Resolution shall be in full force and effect from and after its adoption by the <br />Common Council and approval by the Mayor. <br />PRESENTED I2$-0)— <br />NOT APPROVED <br />ADOPTED <br />S h-�4 <br />Member of the Common Council <br />Pa <br />Filed in ClerWs Office <br />DEC 0 2 2002 <br />lonBTPAJ. DU®A <br />CIFY CLERK, BO. BEPID. K <br />