Designating Tax Abatement - BHD Properties LLC 4320 Ralph Jones Ct. (10 Year Real Proeprty)

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(C) That the estimate of the number of individuals that will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed described redevelopment or rehabilitation; (D) That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed redevelopment or rehabilitation; (E) That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and (F) That the totality of benefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code 6 -1.1- 12.1 -3 SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the Statement of Benefits set forth in Sections 1 through 11 of the Petition for Real property Tar Abatement Considcmtiou and that the Statement of Benefits Form prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under Indiana Code 6 -1.1- 12.1 -3. SECTION IV. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described be designated as Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby detenmines that the property owner is qualified for and is granted property tax deduction for a period of ten (1 q) years. SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tar Abatement to be published pursuant to Indiana Code 5 -3 -1 and Indiana Code 6 -1.1- 12.1 -2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. PRESENTED y- i/- q Al NOT APPROVED ADOPTED ?-i Q:\D00N1ISC\ABATE4.Ix0c Member of the Common Council Flied In Clerk'- Office MAR 2 1994 lRENE GAMMON CITY CLERK, 90. BEND, IN. Page 2