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NOW, THEREFORE, BE IT RESOLVED by the Common Council of the <br />City of South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds that the <br />Petition for Real Property Tax Abatement and the Statement of <br />Benefits form completed by the Petitioner meet the requirements of <br />Indiana Code 6 -1.1 -12.1 et sea., for tax abatement. <br />SECTION II. The Common Council hereby determines and finds the <br />following: <br />A. That the description of the proposed redevelopment or <br />rehabilitation meets the applicable standards for such development. <br />B. That the estimate of the value of the redevelopment or <br />rehabilitation is reasonable for projects of this nature; <br />C. That the estimate of the number of individuals who will <br />be employed or whose employment will be retained by the Petitioner <br />can reasonably be expected to result from the proposed described <br />redevelopment or rehabilitation; <br />D. That the estimate of the annual salaries of those <br />individuals who will be employed or whose employment will be <br />retained by the Petitioner can be reasonably expected to result <br />from the proposed redevelopment or rehabilitation; <br />E. That the other benefits about which information was <br />requested are benefits that can be reasonably expected to result <br />from the proposed described redevelopment or rehabilitation; and <br />F. That the totality of benefits is sufficient to justify <br />the requested deduction, all of which satisfy the requirements of <br />Indiana Code 6 -1.1- 12.1 -3. <br />SECTION III. The Common Council hereby determines and finds that <br />the proposed described redevelopment or rehabilitation can be <br />reasonably expected to yield benefits identified in the Statement <br />of Benefits set forth as Sections I through II of the Petition for <br />Real Property Tax Abatement Consideration and that the Statement of <br />Benefits form prescribed by the State Board of Accounts are <br />sufficient to justify the deduction granted under Indiana Code 6- <br />1.1- 12.1 -3. <br />2 <br />