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reasonably be expected to result from the proposed described <br />redevelopment of rehabilitation; <br />C. That the estimate of the annual salaries of those <br />individuals who will be employed or whose employment will be <br />retained can be reasonably expected to result from the <br />proposed redevelopment or rehabilitation; <br />D. That the other benefits about which information <br />was requested are benefits that can be reasonably expected <br />to result from the proposed described redevelopment or <br />rehabilitation; and <br />E. That the totality of benefits is sufficient to <br />justify the deduction <br />all of which satisfy the requirements of I.C., 6 -1.1- 12.1 -3. <br />SECTION III. The Common Council hereby determines and <br />finds that the proposed described redevelopment or <br />rehabilitation can be reasonably expected to yield the <br />benefits identified in the State of Benefits set forth as <br />sections I through III of the Petition for Real Property Tax <br />Abatement Consideration and that the completed Statement of <br />Benefits Form prescribed by the State Board of Accounts are <br />sufficient to justify the deduction granted under Section 6- <br />1.1- 12.1 -3 of the Indiana Code. <br />SECTION IV. The Common Council hereby accepts the <br />report and recommendation of the Human Resources and <br />Economic Development Committee that the area herein <br />described be designated an Economic Revitalization Area and <br />hereby adopts a resolution designating this area as an <br />Economic Revitalization Area for purposes of real property <br />tax abatement. <br />SECTION V. The designation as an Economic <br />Revitalization Area shall be limited to two (2) calendar <br />years from the date of the adoption of this Resolution by <br />the Common Council. <br />SECTION VI. The Common Council hereby determines that <br />the property owner is qualified for and is granted property <br />tax deduction for a period of three (3) years. <br />SECTION VII. This Resolution shall be in full force <br />and effect from and after its adoption by the Common Council <br />and approval by the Mayor. <br />C4, <br />M tuber f the Common Council <br />PRESENTED 5-q-" <br />NOT APPROVED <br />ADOPTED ( o - 1 0 -&R' <br />