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REGULAR MEETING <br />APRIL 14, 2014 <br />C. That the estimate of the number of individuals who will be employed or whose <br />employment will be retained by the Petitioner can reasonably be expected to <br />result firm the proposed described redevelopment or rehabilitation; <br />D. That the estimate of the annual salaries of those individuals who will be employed <br />or whose employment will be retained by the Petitioner can be reasonably <br />expected to result from the proposed redevelopment or rehabilitation; <br />E. That the other benefits about which information was requested are benefits that <br />can be reasonably expected to result from the proposed described redevelopment <br />or rehabilitation; and <br />F. That the totality of benefits is sufficient to justify the requested deduction, all of <br />which satisfy the requirements of Indiana Code §6-1.1-12.1-3. <br />SECTION III. The Common Council hereby detcrmincs and finds that the proposed described <br />redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the <br />Statement of Benefits and Petition for Tax Incentives and the Memorandum of Agreement <br />between the Petitioner and the City of South Bend, and that the Statement of Benefits form <br />completed by the petitioner, said form being prescribed by the State Board of Accounts, are <br />sufficient to justify the deduction granted under Indiana Code § 6 -1.1- 12.1 -3. <br />SECTION IV. The Common Council hereby accepts the report and recommendation of the <br />Community Investment Committee that the area herein described be designated as an Economic <br />Revitalization Area and hereby adopts a Resolution designating this area as an Economic <br />Revitalization Area for purposes of real property tax abatement. <br />SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2) <br />calendar years from the date of the adoption of this Resolution by the Common Council... <br />SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of <br />this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana <br />Code § 5 -3 -1 and Indiana Code § 6 -1.1- 12.1 -2.5, said publication providing notice of the public <br />hearing before the Common Council on the proposed confirming of said declaration. <br />SECTION VII. The Common Council hereby determines that the property owner is qualified for <br />and is granted property tax deduction for a period of up to seven (7) years as shown by the <br />attachment pursuant to Indiana Code 64.1 - 12.1 -17. <br />SECTION VII. This Resolution shall be in full force a and after i ado tion by <br />the Common Council and approval by the Mayor. <br />Filed in <br />PRESENTED . 3'T� -1 F VIAi " i 7 <br />NOT {iPPRO.Vt9 CITY CLEp FH BIEND, IN <br />Aooertt * 3- Ly <br />Councilmember Oliver Davis requested a motion to continue bill 14 -31 to May 12 So moved <br />by Councilmember Dieter, seconded by Mr. Fertic which carried by a voice vote of nine (9) <br />ayes. <br />IN <br />