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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 described in the Application is reasonable; (b) The employment numbers shown in the Application, if any, are reasonably expected; (c) The salaries related to such employment, if any, are reasonable; (d) The benefits reported in the Application to be received from the Applicant's project are sufficient to justify the deduction; and (e) That, unless otherwise approved, any abatement for the Area shall have its abatement calculated in accordance with the standard abatement percentages shown on the chart attached as Exhibit A to this resolution and shall otherwise be in accordance with the Ordinance. 2. Compliance with Indiana Law. It is hereby found by the Town Council that the Application complies with Indiana Code 6.1.1-12.1-3. 3. Confirmation of the Declaratory Resolution. It is hereby declared by the Town Council that the Declaratory Resolution is in all respects hereby confirmed, and it is hereby stated that the qualifications for an economic revitalization area have been met by the Applicant as to the location described in the Declaratory Resolution in accordance with the percentages shown for abatement on Exhibit A attached hereto. 4. Final Action. After legally required public notice, and after public hearing pursuant to such notice, the Town Council hereby takes "final action," as that phrase is defined in I.C. 6- 1.1-12.1-1 et. seq., on the date hereof, with regard to designation of the Area, approval of the Application and the previous adoption of the Declaratory Resolution. 5. Effective Date. This resolution shall be effective immediately upon its passage, subject to any right of appeal as provided by Indiana law. 6. 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 personal property tax abatement as to the personal property contemplated by the Application heretofore reviewed and approved by the Declaratory Resolution and ratified and confirmed by this resolution. 24227306.1