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(d) any other benefits about which information was requested are benefits <br />that can be reasonably expected to result from the proposed installation <br />of new manufacturing equipment; and <br />(e) the totality of benefits is sufficient to justify the deduction <br />requested. <br />SECTION 11. 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 <br />the Petition for Personal Property Tax Abatement Consideration and that the <br />Statement of Benefits Form completed by the Petitioner, said form being <br />prescribed by the State Board of Accounts, are sufficient to justify the <br />deduction granted under Indiana Code 6- 1.1- 12.1 -4.5. <br />SECTION 111. 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 <br />be designated as Economic Revitalization Area for purposes of personal property <br />tax abatement and hereby makes such a designation. <br />SECTION 1V. 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 <br />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 />qualified for and is granted property tax deduction for a period of five (5) <br />years. <br />SECTION V1. 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 <br />5 -3 -1, said publication providing notice of the public hearing before the Common <br />Council on said declaration. <br />SECTION 1X. 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 />PRESENTELI /,�� -/C�)— <br />NOT APPRQM <br />ADOPTED le- <br />er the Common Council <br />I signod only to provi(e -,u; <br />opportunity for p:ibliC ''f sr R:;h10R <br />and Council action on tho <br />Filed in Clerk's Office <br />Sv? 2 1 192 <br />