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RESOLUTION �v , 2017 <br />MOORESVILLE TOWN COUNCIL <br />CONFIRMATORY RESOLUTION FOR THE DESIGNATION OF <br />AN ECONOMIC REVITALIZATION AREA ON THE <br />APPLICATION OF OLIVE OAK, LLC <br />WHEREAS, the Town Council of the Civil Town Mooresville <br />recognizes the need to stimulate redevelopment and <br />rehabilitation of certain areas located within the Town; and <br />WHEREAS, the Town Council of the Civil Town of Mooresville <br />further recognizes that the general health and welfare of its <br />citizens would best be served by stimulating growth of existing <br />businesses and industries located within the Town; and <br />WHEREAS, further stagnation of business and industry in the <br />Town constitutes a menace to the social and economic interests <br />of the Town and its inhabitants; and <br />WHEREAS, it is of public utility and benefit to foster <br />redevelopment and rehabilitation of businesses and industries <br />located within the Town; and <br />WHEREAS, certain areas within the Town of Mooresville have <br />become undesirable for or impossible for normal development and <br />occupancy because of lack of development, cessation of growth, <br />deterioration of improvements or other factors which have <br />impaired values and prevents normal development and use of the <br />property; and <br />WHEREAS, the Town of Mooresville has been requested by <br />Olive Oak, LLC, the owners of record, to find pursuant to <br />Indiana Code 6-1.1-12.1 that the following described real estate <br />is an Economic Revitalization Area: <br />