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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 pursuant to Section 2 -84 of the South Bend Municipal <br />Code finds the ten (10) years is the appropriate and rational time period for this tax abatement <br />in light of the following: <br />The petitioner currently employs over 103 people in the South Bend office and <br />has an annual payroll of over $3.9 million. The petitioner also projects to add <br />as many as 150 new positions to its payroll over the next five years. <br />Environmental Health Laboratories (EHL), in conjunction with Underwriters <br />Laboratories (UL), which is the largest public safety testing company in the <br />world, are dedicated to public safety and to the communities they are a part of. <br />3. The petitioner cites the enormous costs associated with this project, with total <br />project costs estimated to exceed $7 million. <br />The Common Council hereby determines that the property owner is qualified for and is granted <br />property tax deduction for a period of ten (10) years. <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 <br />Indiana Code 5 -3 -1 and Indiana Code 6- 1.1- 12.1 -2.5, said publication providing notice of the <br />public hearing before the Common Council on the proposed confirming of said declaration. <br />SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by <br />the Common Council and approval by the Mayor. <br />pRISENTID 10 ^L�, <br />NOT AV; ROVED <br />ADOPTED <br />Member of the Common ftuncil <br />OCT 1 E 2w <br />f <br />L'ar 'x t� 3 L•S _ <br />, <br />