Designating Tax Abatement - Mary Crest Amoco 2302, 2304, 2306 Western Ave. (6 Years Real Property)

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expected to result from the proposed redevelopment or rehabilitation; D. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and E. That the totality of benefits is sufficient to justify the deduction all of which satisfy the requirements of I.C. 6 -1.1- 12.1 -3. SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield the benefits identified in the Statement of Benefits set forth as Sections I through IV of the Petition for Real Property Tax Abatement Consideration, and that the completed Statement of Benefits For prescribed by the State Board of Tax Commissioner's are sufficient to justify the deduction granted under Section 6 -1.1- 12.1 -3 of the Indiana Code. SECTION IV. The Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development Committee that the area herein described by designated an Economic Revitalization Area and hereby adopts a resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. Revitalization Area years from the date the Common Council. The designation as an Economic shall be limited to the two (2) calendar of the adoption of this Resolution by SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of six: (6) years. SECTION VII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. tuber of the Common Council PRESENTED 5- 9' NOT APPROM ADOPTED 5- G- o i 0