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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 <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 rehabilitation <br />can be reasonably expected to yield the benefits identified in the <br />Statement of Benefits set forth as Sections I through III of the <br />Petition for Real Property Tax Abatement Consideration and that the <br />completed Statement of Benefits Form prescribed by the State Board of <br />Tax Commissioners are sufficient to justify the deduction granted <br />under 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 as Economic <br />Revitalization Area and hereby adopts a resolution designating this <br />area as an Economic Revitalization Area for purposes of real property <br />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 deduction <br />for a period of ten (10) years. <br />SECTION VII. This Resolution shall be in full force and effect <br />from and after its adoption by the Common Council and approval by the <br />Mayor. <br />of the Common Council <br />PRESENTED `4 - Z 5- - ot� <br />NOT APPROVED <br />ADOPTED q - ---), J - g <br />