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E. That the other benefits about which information was requested are benefits that <br />can be reasonably expected to result from the proposed described redevelopment or <br />rehabilitation; and <br />F. That the totality of benefits is sufficient to justify the requested deduction, all of <br />which satisfy the requirements of Indiana Code 6- 1.1 - 12.1 -3. <br />SECTION 11 I. 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 11 of the Petition <br />for Real Propery Tax Abatement Consideration and that the Statement of Benefits form <br />prescribed by the State Board of Accounants are sufficient to justify the deduction <br />granted under Indiana Code 6- 1.1- 12.1 -3. <br />SECTION IV. The Common Council hereby accepts the report and recommendation of the <br />Human Resources and Economic Development Committee that the areas herein described <br />be designated and 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 two <br />(2) calendar years from the date of the adoption of this Resolution by the Common <br />Counci 1. <br />SECTION VI. The Comon Council hereby determines that the property owner is qualified <br />for and is granted property tax deduction for a period of three (3) years. <br />SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of <br />this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to <br />Indiana Code 5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, said publication providing <br />notice of the public hearing before the Common Council on the proposed confirming of <br />said declaration. <br />SECTION VI 11. This Resolution shall be in full force and effect /from and after its adoption <br />by the Common Council and approval by t�LIXI / �G� <br />Member of the Common Council <br />PRESENTED 11 -25 ^9� <br />NOT APPROVED <br />ADOPTED <br />Filed in Clerk's Office <br />OCT 2 5 1996 <br />LORETTA J. DUDA <br />CRY CLERK, SO. REM IN, <br />