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(d) any other benefits about which information was <br />requested are benefits that can be reasonably <br />expected to result from the proposed new <br />manufacturing equipment; and <br />(e) the totality of benefits is sufficient to justify <br />the deduction requested. <br />SECTION II. The Common Council hereby determines and finds that <br />the proposed new manufacturing equipment can be reasonably <br />expected to yield the benefits identified in the Statement of <br />Benefits as set forth in Section 1 through 3 of the Petition for <br />Personal Property Tax Abatement Consideration and that the <br />Statement of Benefits form completed by the Petitioner, said form <br />being prescribed by the State Board of Accounts, are sufficient <br />to justify the deduction granted under Indiana Code <br />6 -1.1- 12.1 -4.5. <br />SECTION III. The Common Council hereby accepts the report and <br />recommendation of the Department of Community of Economic <br />Development, and the Community and Economic Development <br />Committee's favorable recommendation, that the area herein <br />described be designated as an Economic Revitalization Area for <br />purposes of personal property tax abatement and hereby makes <br />such a designation. <br />SECTION IV. The Common Council determines that such designation <br />is for personal property tax abatement only and shall be limited <br />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 <br />owner is qualified for and is granted property tax deduction for <br />a period of five (5) years. <br />SECTION VI. The Common Council directs the City Clerk to cause <br />notice of the adoption of this Declaratory Resolution for <br />Personal Property Tax Abatement to be published pursuant to <br />Indiana Code 5 -3 -1, said publication providing notice of the <br />public hearing before the Common Council on the proposed <br />confirming of said declaration. <br />SECTION VII. This Resolution shall be in full force and effect <br />from and after its adoption by the Common Council and approval <br />by the Mayor. <br />PRESENTED - \ -Z3 -0� <br />NOT APPROVED <br />ADOPTED <br />Member of the Common Touncil <br />Flied in Clark's Office <br />APP 9 ? 2009 <br />LORMAJ. DWA <br />WYOLERK,SO.®ERD.SK <br />