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D. That the other benefits about which information was requested are <br />benefits that can be reasonably expected to result from the proposed <br />described redevelopment or rehabilitation; and; <br />E. That the totality of benefits is sufficient to justify the <br />deduction, all of which satisfy the requirements of I.C. 6 -1.1- 12.1 -3. <br />SECTION III. The Common Council hereby determines and finds that the <br />proposed described redevelopment or rehabilitation can be reasonably <br />expected to yield the benefits identified in the Statement of Benefits set <br />forth as sections I through II of the Petition for Real Property Tax <br />Abatement Consideration and that the Statement of Benefits form prescribed <br />by the State Board of Accounts are sufficient to justify the deduction <br />granted under the Section 6 -1.1- 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 Committee <br />that the area herein described an Economic Revitalization Area and hereby <br />adopts a resolution designating this area as an Economic Revitalization <br />Area for purposes of real property tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area shall <br />be limited to two (2) calendar years from the date of the adoption of this <br />Resolution by the Common Council. <br />SECTION VI. The Common Council hereby determines that the property <br />owner is qualified for and is granted property tax deduction for a period <br />of three (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 Property <br />Tax Abatement to be published, said publication providing notice of the <br />public hearing before the Common Council on the proposed confirming of <br />said declaration. <br />SECTION VIII. This Resolution shall be in full force and effect from <br />and after its adoption by the Common Council and approval by the Mayor. <br />PRESENTED /d-a3- �? <br />NOT APPROVED <br />ADOPTED 10 -ol'J _5 <br />�a� � <br />V6�/�v'�o <br />ffe—ffi-B of the Co Council <br />!CT 1 8 198c, <br />ICE GAMIV <br />