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d. any other benefits about which information was requested are benefits <br />that can be reasonably expected to result from the proposed new manufacturing <br />equipment; and <br />e. the totality of benefits is sufficient to justify the deduction requested. <br />SECTION II. The Common Council hereby determines and finds that the proposed <br />new manufacturing equipment can be reasonably expected to yield the benefits <br />identified in the Statement of Benefits as set forth in Sections 1 through 3 of the <br />Petition for Personal Property Tax Abatement Consideration and that the Statement <br />of Benefits form completed by the petitioner, said form being prescribed by the <br />State Board of Accounts, are sufficient to justify the deduction granted under <br />Indiana Code 6 -1.1- 12.1 -4.5. <br />SECTION III. The Common Council hereby accepts the report and recommendation <br />of the Department of Community and Economic Development, and the Community <br />and Economic Development Committee's favorable recommendation, that the area <br />herein described be designated as an Economic Revitalization Area for purposes of <br />personal property tax abatement and hereby makes such a designation. <br />SECTION IV. The Common Council determines that such designation is for <br />personal property tax abatement only and shall be limited to two (2) calendar years <br />from the date of the adoption of this Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax deduction for a period of five (5) years. <br />SECTION VI. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution for Personal Property Tax Abatement to be <br />published pursuant to Indiana Code 5 -3 -1, said publication providing notice of the <br />public hearing before the Common Council on the proposed confirming of said <br />declaration. <br />SECTION VII. 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 />sp-�Ov� 2-0�- <br />Member of the Common Council <br />Filed in Clerk's Office <br />MAR - 3 1998 <br />LORMAJ. oWA <br />CRYCLERK, SO. BEND, VL <br />PRESENTED <br />2 <br />NOT APPROVED <br />ADOPTED3 - /) -9t <br />