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D. That the other benefits about which information <br />was requested are benefits that can be reasonably <br />expected to result from the proposed described <br />redevelopment or rehabilitation; and; <br />E. That the totality of benefits is sufficient to <br />justify the deduction; all of which satisfy the <br />requirements of I.C. 6 -1.1- 12.1 -3 and which can be <br />reasonably expected to result from the installation of <br />the new manufacturing equipment. <br />SECTION III. The Common Council hereby determines and <br />finds that the proposed new manufacturing equipment can be <br />reasonably expected to yield the benefits identified in the <br />Statement of Benefits as set forth in sections I through II of <br />the Petition for Personal Property Tax Abatement consideration <br />and that the Statement of Benefits form prescribed by the State <br />Board of Accounts are sufficient to justify the deduction <br />granted under Section 6 -1.1- 12.1 -4.5 of the Indiana Code. <br />SECTION IV. The Cc <br />and recommendation of <br />Development Committee <br />designated an Economic <br />personal property tax <br />designation. <br />>mmon Council hereby accepts the report <br />the Human Resources and Economic <br />that the area herein described be <br />Revitalization Area for purposes of <br />abatement and hereby makes such a <br />SECTION V. The Common Council determines that such <br />designation is for personal property tax abatement only and <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 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 <br />publication providing notice of the public hearing before the <br />Common Council 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 />M tuber o the Common Council <br />7545J <br />PRESENTED '� - '-? s-_ e$- <br />NOT APPROVED <br />shall be in full force and <br />by the Common Council and <br />ADOPTE9 7 ---� S — &K 1 —3— <br />Y <br />JUL 2 01988 <br />�,' j <br />a <br />