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(5) The totality of benefits is sufficient to justify <br /> the granting of personal property tax deductions to <br /> the Applicant pursuant to IC 6-1 . I`13 ^ 4 . 5 . <br /> BE IT ALSO RESOLVED, that the Area is hereby declared to be <br /> an "Economic Revitalization Area" pursuant to IC 8-1 . l`12 ^ I . <br /> BE IT ALSO RESOLVED, that the period for real property tax <br /> deductions under IC 6-I ^ l-11 . l'3 for redevelopment or <br /> rehabilitation in the Area shall be ten (10) years and the <br /> period for personal property tax deductions under IC 6`I . 1`12 . 1- <br /> 4 . 5 for new manufacturing equipment installed in the Area shall <br /> be ten ( 10) years . <br /> BE IT ALSO RESOLVED, that, based on the information in the <br /> Application and the foregoing findings, the Council, pursuant to <br /> IC 6-I . 1'12 . 1/ hereby approves and allows the Applicant' s real <br /> property tax deductions for ten (10) years for the Redevelopment <br /> located in the Area as part of the Project . <br /> BE IT ALSO RESOLVED, that, based on the information in the <br /> Application and the foregoing findings, the Council, pursuant to <br /> IC 6'1 . I-I2 . I, hereby approves and allows the Applicant' s <br /> personal property tax deductions for ten (10) years for the <br /> Equipment installed in the Area as part of the Project . <br /> BE IT ALSO RESOLVED, that pursuant to IC 6-1 . 1-12 . 1'2 ^ 5/ <br /> there shall be published notice (the "Notice") of the adoption <br /> and substance of this Resolution in accordance with IC 5-3-1, <br /> which Notice shall name a date for the public hearing on this <br /> matter (the "Public Hearing") and that at the conclusion of the <br /> Public Hearing, the Council may take final action on the <br />