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(d) any other benefits about which information was requested are benefits that can <br />be reasonably expected to result from the proposed installation of new <br />manufacturing 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 Section 1 through 3 of the Petition <br />for Personal Property Tax Abatement Consideration and that the Statement of Benefits <br />Form completed by the Petitioner, said form being prescribed by the State Board of <br />Accounts, are sufficient to justify the deduction granted under Indiana Code 6- 1.1 -12.1- <br />4.5. <br />SECTION III. The Common Council hereby accepts the report and recommendation of <br />the Department of Economic Development, and the Human Resources and Economic <br />Development Committee's favorable recommendation, that the area herein described be <br />designated as Economic Revitalization Area for purposes of personal property tax <br />abetment and hereby makes such a designation. <br />SECTION IV. The Common Council determines that such designation is for personal <br />property tax abatement only and shall be limited to two (2) calendar years from the date <br />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 to be published pursuant to Indiana Code 5 -3 -1, <br />said publication providing notice of the public hearing before the Common Council on <br />said 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 />PRESENTED /2-/9-9S <br />NOT APPROVED <br />ADOPTED IZ_ / Z-- 9 S <br />2 <br />Common Council <br />Filed inClerk% ofic =-6 <br />IRENEGliL MOM <br />CINCLEAK,50.800,1K <br />