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BE IT FURTHER RESOLVED that the Town Council of the Civil <br />Town of Mooresville hereby confirms the following Resolutions <br />concerning the designation of the herein described real estate <br />as an "Economic Revitalization Area", to -wit: <br />1. The following described real estate in Morgan County, <br />Indiana, shall be designated an "Economic Revitalization Area": <br />3304 Hancel Ci., Mooresville, Morgan County, Indiana <br />2. The owners of the real estate described herein as set <br />out above will be Olive Oak, LLC, an Indiana limited liability <br />company. <br />3. All of the businesses and industries located with the <br />area designated as an Economic Revitalization Area shall be <br />eligible for the deductions in assessment of real estate values <br />provided in Indiana Code 6-1.1-12.1-1 et seq., as the same is <br />amended from time to time. <br />4. The deduction from assessed value of new construction <br />located within the Economic Revitalization Area shall be limited <br />to the maximum period of the ten (10) year assessment deduction <br />for real property new construction from the period of first <br />assessment of the improvements or such maximum amount as allowed <br />by Indiana law or as amended at the time. <br />5. A property owner who desires to obtain the deduction <br />from the value of new construction shall be filed on forms <br />approved by the State Board of Tax Commissioners with the County <br />Auditor and the State Board of Tax Commissioners. <br />