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substandard buildings or other factors that have impaired value or prevent normal development of property. The Town Council hereby finds the following: (a) The estimate of the value of the Applicant's Project as stated in the Application is reasonable; (b) The employment numbers stated in the Application as a result of the Project, if any, are reasonably expected; (c) The salaries related to such employment, if any, are reasonable; and (d) The benefits reported in the Application to be received from the Applicant's Project are sufficient to justify the deduction. 6. Abatement Duration. Based upon applicable statutes the Town Council declares that a ten (10) year personal property and real property abatement duration meets the requirements of the Ordinance. 7. Effective Date. This resolution shall be effective immediately upon its passage, subject to the notice and hearing provisions of I.C. 6.1-2.1-2.5. The hearing contemplated by said statute shall be hell at the time and place of the meeting of the Town Council on June 19, 2018, to wit: Mooresville Town Hall, 4 E. Harrison Street, Mooresville, Indiana, at 6:30 p.m. local time. At such meeting the Town Council shall take final action determining whether the qualifications for an economic revitalization area and the personal property and real property abatement have been met, and shall confirm, modify and confirm, or rescind this resolution. Such determination and final action by the Council shall be binding upon all affected parties; subject to the appeal procedures contemplated by I.C. 6-1.1-12.1-1 et. seq. 8. Filing With Morgan County Authorities. Upon the adoption of this resolution, the Clerk -Treasurer of the Town shall cause a certified copy of this resolution, including the description of the previously described location and attached map, to be filed with the Morgan County Assessor and/or such other Morgan County Government officials as shall be necessary to make the Applicant eligible to file for tax abatements as contemplated by the Application. 22563009.2