Confirming Tax Abatement - Steel Warehouse Co. Inc. 515 W. Ireland Rd. (5 Year Personal Property)

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of said parcel conveyed to Louanne Osborne and also along the east line of a parcel conveyed to Transit Mix, Inc. as described in Warranty Deed 9018257, a distance of 955.26 feet to a point which is South 000- 58' -55" West -- 314.00 feet from a stone found at the northwest corner of the Southeast Quarter (S.E.1 /4) of the Northeast Quarter (N.E.1 /4) of said Section Twenty-Six (26); thence North 890- 42' -44" East, along the south line of two (02) parcels conveyed to Miles Laboratories, Inc. as described in Warranty Deed 7903212 and Warranty Deed 8501215, a distance of 1270.41 feet to a point on the west right of way line of a public street now known as Lafayette Street; thence South O10- 30' -47" West, along said west right of way line of Lafayette Street and being parallel with and 30.00 feet west of the east line of the Southeast Quarter (S.E. 1/4) of the Northeast Quarter (N.E.1 /4) of said Section Twenty -Six (26), a distance of 602.05 feet to the northeast corner of a parcel conveyed to Arthur Fontonelli and as described in Warranty Deed 9335926; thence South 90 ° -00'- 00" West, along the north line of said parcel conveyed to Arthur Fontonelli and also being along the north line of a parcel conveyed to Arthur Fontonelli as described in Corporate Warranty Deed 9335926, a distance of 370.00 feet to the northwest corner of said parcel conveyed to Arthur Fontonelli ; thence South 01 *- 30' -47" West, along the west line of said parcel conveyed to Arthur Fontonelli, a distance of 360.00 feet to the Point of Beginning of this description and containing 24.793 Acres, more or less. with said real estate having Parcel Key No. 23 -1013 -0758, as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6- 1.1- 12.1 -2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met; and WHEREAS, the Council has received a completed Form SB -1 Statement of Benefits from Lock Joint Tube, Inc,/KeyCorp Capital Leasing/Steel Warehouse Co. Inc. proposing installation of new manufacturing equipment; and WHEREAS, upon review ofthe Petitioner's Form SB -1 Statement ofBenefits, the Council finds that (i) the estimate of the cost of the new manufacturing equipment is reasonable for equipment of the type described in the Statement of Benefits; (ii) the estimate of the number of individuals who will be employed or whose employment will be retained can reasonably be expected to result from the installation of new manufacturing equipment described in the Statement of Benefits; (iii) the estimate of annual salaries of those individuals who will be employed or whose employment will be retained can reasonably be expected to result from the proposed installation ofnew manufacturing equipment; (iv) other benefits about which information was requested are benefits which can reasonably be expected to result from the proposed installation of new manufacturing equipment; and (v) the totality of benefits to be derived from the proposed installation of new manufacturing equipment is sufficient to justify the deduction sought by the applicant. -2-