Laserfiche WebLink
F. That the totality of benefits is sufficient to justify the requested <br />deduction, all of which satisfy the requirements of Indiana Code 6 -1.1- 12.1 -3. <br />SECTION III. The Common Council hereby determines and finds that the proposed <br />described redevelopment or rehabilitation can be reasonably expected to yield benefits <br />identified in the Statement of Benefits set forth as Sections I through II of the Petition <br />for Real Property Tax Abatement Consideration and that the Statement of Benefits form <br />prescribed by the State Board of Accounts are sufficient to justify the deduction granted <br />under Indiana Code 6 -1.1- 12.1 -3. <br />SECTION IV. The Common Council hereby accepts the report and recommendation of <br />the Community and Economic Development Committee that the area herein described <br />be designated as an Economic Revitalization Area and hereby adopts a Resolution <br />designating this area as an Economic Revitalization Area for purposes of real property <br />tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area shall be limited to <br />two (2) calendar years from the date of the adoption of this Resolution by the Common <br />Council. <br />SECTION VI. The Common Council hereby determines that the property owner is <br />qualified for and is granted 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 <br />adoption of this Declaratory Resolution for Real Property Tax Abatement to be <br />published pursuant to Indiana Code 5 -3 -1 and Indiana Code 6- 1.1- 12.1 -2.5, said <br />publication providing notice of the public hearing before the Common Council on the <br />proposed confirming of said declaration. <br />SECTION VIII. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approval by the Mayor. <br />Member of the Common Council <br />PRESE"d - ,)� -Lzay <br />NOV APPROVED <br />ADOPTED I 1 -1.1-0 1 <br />Filed In Clerk's Office <br />=IR <br />LORMAJ. EWDA <br />C"CLFJ S0.8F9&. A, <br />