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(d) any other benefits about which information was requested <br />are benefits that can be reasonably expected to result from the <br />proposed installation of new manufacturing equipment; and <br />(e) the totality of benefits is sufficient to justify the <br />deduction requested, <br />SECTION II. The Common Council hereby determines and finds that the <br />proposed new manufacturing equipment can be reasonably expected to yield <br />the benefits identified in the Statement of Benefits as set forth in Section <br />1 through 3 of the Petition for Personal Property Tax Abatement Consideration <br />and that the Statement of Benefits Form completed by the Petitioner, said <br />form being prescribed by the State Board of Accounts, are sufficient to <br />justify the deduction granted under Indiana Code 6- 1.112.1 -4.5. <br />SECTION III. The Common Council hereby accepts the report and recommendation <br />o t e Department of Economic Development, and the Human Resources and <br />Economic Development Committee's favorable recommendation, that the area <br />herein described be designated as Economic Revitalization Area for purposes <br />of 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 <br />years 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 />qua t ied for and is granted property tax deduction for a period of five (5) <br />years. <br />SECTION VI. The Common .Council directs the City Clerk to cause notice of <br />t e.:a option of this Declaratory Resolution to be published pursuant to <br />Indiana Code 5 -3 -1, said publication providing notice of the public hearing <br />be ore the Common Council on said declaration. <br />SECTION IX. This Resolution shall be in full force and effect from and after <br />its doption by the Common Council and approval by the Mayor. <br />Member of th&.tommon Council <br />and r <br />2 <br />PRESENTED �- 0- t3 <br />NOT APPROVED <br />ADOPTED a _ g_ q� <br />Filed in Clerk's Office <br />JAN 2 7 <br />