Resolution 04-2023 Confirmatory Resolution of the Town Council of the Town of Mooresville, Indiana, Regarding Certain Personal Property Tax Abatement Deductions (Old Dominion)

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heard evidence concerning the qualification of the Area as an Economic Revitalization Area; WHEREAS, after considering the evidence, this Council took final action determining that the qualifications for an Economic Revitalization Area have been met and took final action by adopting its Resolution Number 4-2023 confirming the Declaratory Resolution (the "Confirmatory Resolution'); WHEREAS, Applicant has filed with this Council a Statement of Benefits Personal Property (Form SB-1/PP), which describes the proposed personal property improvements by the Applicant at the Project site, in order to receive a personal property tax abatement for the Project pursuant to the Act; WHEREAS, the Project consists of personal property improvements in the amount of One Million Three Hundred and Seventy Five Thousand Dollars ($1,375,000.00) on the real estate more specifically described in Exhibit B; WHEREAS, the improvements of the Area will be of public utility and will be to the benefit and welfare of the citizens and taxpayers of the Town. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE TOWN OF MOORESVILLE, INDIANA AS FOLLOWS: SECTION I. The proposed Project will be located in the Area which has been confirmed as an Economic Revitalization Area pursuant to the Act. SECTION II. Based upon the information provided by the Applicant, this Council makes the following findings: (1) The estimate of One Million Three Hundred and Seventy Five Thousand Dollars ($1,375,000.00) as the value of the personal property improvements that will be installed is reasonable for the projects of that nature. (2) There are approximately forty-five (45) new individuals who will be employed at the Project as a result of the new personal property improvements constituting the Project. 2