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WHEREAS, the improvement of the Area described in the <br />Application will be of public utility and will be to the benefit <br />and welfare of all citizens and taxpayers of the Town; and, <br />WHEREAS, the Council has reviewed the Application; <br />NOW, THEREFORE, BE IT RESOLVED, that the Council hereby <br />determines that the Area is within the Town and has become <br />undesirable for, or impossible of, normal development and <br />occupancy because of a lack of development and other factors <br />which have impaired values and prevented a normal development of <br />property and use of property, and, therefore, that the Area is <br />an "Economic Revitalization Area" (as defined in IC 6-1.1-12.1- <br />1(1)). <br />BE IT ALSO RESOLVED, that, based on the information in the <br />Application describing the project, the Council makes the <br />following findings: <br />(1) The estimate of the value of the Redevelopment is <br />reasonable for projects of that nature; <br />(2) The estimate of the number of individuals who will <br />remain employed and those who will gain employment can <br />be reasonably expected to result from the proposed <br />Redevelopment; <br />(3) The estimate of the annual salaries of those <br />individuals who will be employed and those who will <br />continue to be employed can be reasonably expected to <br />result from the proposed Redevelopment; <br />