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D. That the other benefits about which information w'as <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 justify <br />the deduction, all of which satisfy the requirements of I.C. <br />6- 1.1- 12.1 -3. <br />SECTION III. The Common Council hereby determines and <br />finds that the proposed described redevelopment or rehabilitation <br />can be reasonably expected to yield the benefits identified in the <br />Statement of Benefits set forth as sections I through II of the <br />Petition for Real Property Tax Abatement Consideration and that the <br />Statement of Benefits form prescribed by the State Board of <br />Accounts are sufficient to justify the deduction granted under <br />Section 6- 1.1- 12.1 -3 of the Indiana Code. <br />SECTION IV. The Common Council hereby accepts the report <br />and 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 <br />Area shall be limited to two (2) calendar years from the date of <br />the 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 the period of six (6) years. <br />SECTION VII. The Common Council directs the City Clerk to <br />cause notice of the adoption of this Declaratory Resolution for <br />Real Property Tax Abatement to be published, said publication <br />providing notice of the public hearing before the Common Council on <br />the proposed confirming of said declaration. <br />SECTION VIII. This Resolution shall be in full force and <br />effect from and after its adoption by the Common Council and <br />approval by the Mayor. <br />NOT APPROVED <br />OPTED i---A -la —V8' <br />4be the Common Council <br />".fed €c.''���. <br />DEC 7 1988 <br />P tAr a ft o®®% <br />"�Fov on Dr.— <br />