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D. That the other benefits about which information was <br />requested are benefits that can be reasonably expected to result <br />from the proposed described redevelopment or rehabilitation; and <br />E. That the totality of benefits is sufficient to <br />justify the deduction, all of which satisfy the requirements of <br />I.C. 6 -1.1- 12.1 -3. <br />SECTION III. The Common Council determines and finds that the <br />proposed described redevelopment or rehabilitation can be reasonably <br />expected to yield benefits identified in the Statement of Benefits <br />set forth as sections I through II of the Petition for Real <br />Property Tax Abatement consideration and that the Statement of <br />Benefits form prescribed by the State Board of Accounts are <br />sufficient to justify the deduction granted under Section 6 -1.1- <br />12.1-3 of the Indiana Code. <br />SECTION IV. The Common Council hereby accepts the report and <br />recommendation of the Human Resources and Economic Development <br />Committee that the area herein described be designated an Economic <br />Revitalization Area and hereby adopts a resolution designating this <br />area as an Economic Revitalization Area for purposes of real <br />property tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area <br />shall be limited to two (2) calendar years from the date of the <br />adoption of this Resolution by the Common Council. <br />SECTION VI. The Common Council hereby determines that the <br />property owner is qualified for and is granted property tax <br />deduction for a period of Thtee(3)years. <br />SECTION VII. The Common Council directs the City Clerk to cause <br />notice of the adoption of this Declaratory Resolution for Real <br />Property Tax Abatement to be published, said publication providing <br />notice of the public hearing before the Common Council on the <br />proposed confirming of said declaration. <br />SECTION VIII. This Resolution shall be in full force and effect <br />from and after its adoption by the Common Council and approval by <br />the Mayor. <br />PRESENTED 1a- IC3 -q0 <br />NOT APPROVED <br />Vvi� <br />ember of the on 771 <br />in Clerk's Office <br />ADOPTED ��- 10 -G�U �ojr,x toCeoL I �t� 51990 <br />