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expected to yield the benefits identified in the Statement of <br />Benefits as set forth in Sections I through II of the Petition <br />for Personal 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 -4.5 of the Indiana Code. <br />SECTION IV. The Common Council hereby accepts the report <br />and recommendation of the Human Resources and Economic <br />Development Committee that the area herein described be <br />designated an Economic Revitalization Area for purposes of <br />personal property tax abatement and hereby makes such a <br />designation. <br />SECTION V. The Common Council determines that such <br />designation is for personal property tax abatement only and shall <br />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 five (5) years. <br />SECTION VII. The Common Council directs the City Clerk to <br />cause notice of the adoption of this Declaratory Resolution for <br />Personal Property Tax Abatement to be published, said publication <br />providing notice of the public hearing before the Common Council <br />on the proposed confirming of said declaration. <br />SECTION VIII. This Resolution <br />effect from and after its adoption <br />approval by the Mayor. <br />P / 8� <br />o <br />NOT APPROVED <br />ADOPTED / 0 - '�p +/ - <br />shall be in full force and <br />by the Common Council and <br />rr T 5 Mel <br />