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(3) The estimate of the annual salaries of those <br />individuals who will retain employment and those that <br />can reasonably be expected to be employed as a result <br />of the purchase of this Equipment is reasonable; <br />(4) The other benefits about which information was <br />requested are benefits that can be reasonably expected <br />to result from the proposed Redevelopment; and <br />(5) The totality of benefits is sufficient to justify the <br />granting of real property tax deductions to the <br />Applicant pursuant to IC 6-1.1-12.1-4.5. <br />BE IT ALSO RESOLVED, that the Area is hereby declared to be <br />an "Economic Revitalization Area" pursuant to IC 6-1.1-12.1. <br />BE IT ALSO RESOLVED, that, the period for personal property <br />tax deductions under IC 6-1.1-12.1-4.5 for new manufacturing <br />equipment would 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 6-1-1.1-12.1 et seq. hereby approves and allows the <br />Applicant's personal property tax deduction for ten (10) years <br />for the 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 et <br />seq., which Notice shall name a date for the public hearing on <br />this matter (the "Public Hearing") and that at the conclusion of <br />the Public Hearing, the Council may take final action on the <br />proposed designation, and a copy of this Resolution shall be <br />