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employment will be retained by the Petitioner can reasonably be expected to result <br /> from the proposed installation of new manufacturing equipment; <br /> c. That the estimate of the annual salaries of those individuals that will be employed <br /> or whose employment will be retained by the Petitioner can be reasonably expected <br /> to result from the proposed installation of new manufacturing equipment; <br /> d. Any other benefits about which information was requested are benefits that can be <br /> reasonably expected to result from the proposed new manufacturing equipment; <br /> and <br /> e. The totality of benefits is sufficient to justify the deduction requested. <br /> SECTION II. The Common Council hereby determines and finds that the proposed new <br /> equipment can be reasonably expected to yield the benefits identified in the Statement of Benefits <br /> as set forth in Sections 1 through 3 of the Petition for Personal Property Tax Abatement <br /> Consideration and that Statement of Benefits form completed by the petitioner, said form being <br /> prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under <br /> Indiana Code 6-1.1-12.1-4.5. <br /> SECTION III. The Common Council hereby accepts the report and recommendation of the <br /> Department of Community Investment, and the Community Investment Committee's favorable <br /> recommendation, that the area herein described be designated as an Economic Revitalization Area <br /> for purposes of personal property tax abatement and hereby makes such a designation. <br /> SECTION IV. The Common Council determines that such designation is for personal property <br /> tax abatement only and shall be limited to two (2) calendar years from the date of the adoption of <br /> this Resolution by the Common Council. <br /> SECTION V. The Common Council hereby determines that the property owner is qualified for <br /> and is granted property tax deduction for a period of(5) five years as shown by the attachment <br /> pursuant to Indiana Code 6-1.1-12.1-17. <br /> SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this <br /> Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to Indiana <br /> Code 5-3-1, said publication providing notice of the public hearing before the Common Council <br /> on the proposed confirming of said declaration. <br /> SECTION VII. This Resolution shall be in full force and effect from and after its adoption by the <br /> Common Council and approval by the Mayor. 111%1 <br /> -.4411111111. <br /> Member of the Common au= in Ch rk's Office <br /> WSENTE R-l -( � AUU. 19 2015 <br /> ROT APPRovig 2 <br /> JOHN VOO,'RDE <br /> XDC38TfIg R.-- (LA--( ( CITY CLERK.SOUTH BEND,IN 1 <br />