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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 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 <br />the Petition for Personal Property Tax Abatement Consideration and that the <br />Statement of Benefits Form completed by the Petitioner, said for being prescribed <br />by the State Board of Accounts, are sufficient to justify the deduction granted <br />under Indiana Code 6 -1.1- 12.1 -4.5. <br />SECTION III. The Common Council herby accepts the report and recommendation <br />of 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 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 />qualified for and is granted property tax deduction for a period of five <br />(5) years. <br />SECTION VI. The Common Council directs the City Clerk to cause notice of <br />the adoption of this Declaratory Resolution to be published pursuant to Indiana <br />Code 5 -3 -1, said publication providing notice of the public hearing before the <br />Common Council on said declaration. <br />SECTION IX. This Resolution shall be in full force and effect from and after <br />its adoption by the Common Council and approval by the Mayor. <br />Member of the Common Council <br />PRESENTED \ a -Q� - g \ <br />NOT APPROVED <br />ADOPTED la_ 9 -9 / <br />. v- Asa Clerk's Office <br />OCT <br />