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(d) any other benefits about which information was requested are benefits that can be reasonably <br />expected to result from the proposed installation of new 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 new manufacturing <br />equipment can be reasonably expected to yield the benefits identified in the Statement of Benefits as set forth in <br />Section 1 through 3 of the 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 State Board of Accounts, are <br />sufficient to justify the deduction granted under Indiana Code 6 -1.1- 12.1 -4.5. <br />SECTION III. The Common Council hereby accepts the report and recommendation of the Department of <br />Economic Development, and the Human Resources and Economic Development Committee's favorable <br />recommendation, that the area herein described be designated as 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 personal property tax abatement <br />only and shall be limited to two (2) calendar years from the date of the adoption of this Resolution by the <br />Common Council. <br />SECTION V. The Common Council hereby determines that the property owner is qualified for and is granted <br />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 adoption of this Declaratory <br />Resolution to be published pursuant to Indiana Code 5 -3 -1, said publication providing notice of the public <br />hearing before the Common Council on said declaration. <br />SECTION IX. This Resolution shall be in full force and effect from and after its adoption by the Common <br />Council and approval by the Mayor. <br />MENT0, �,'y <br />NOT] i AF,,, "FAD <br />`'ADOPTER <br />Q: \D0C \MISC \ABATE3.D0C <br />Member of the Common Council <br />Filed in Clerk's Office <br />MAR Z :� 9994 <br />IRENE GAMMON <br />CfrY CLERK, BO. BEND, IN. <br />Page 2 <br />