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heard evidence concerning the qualification of the Area as an Economic Revitalization <br />Area; <br />WHEREAS, after considering the evidence, this Council took final action <br />determining that the qualifications for an Economic Revitalization Area have been met <br />and took final action by adopting its Resolution Number 5-2023 confirming the <br />Declaratory Resolution (the "Confirmatory Resolution'); <br />WHEREAS, Applicant has filed with this Council a Statement of Benefits Real <br />Estate Improvements (Form SB-1/Real Property), which describes the proposed real <br />estate improvements by the Applicant at the Project site, in order to receive a real <br />property tax abatement for the Project pursuant to the Act; <br />WHEREAS, the Project consists of real property improvements in the amount of <br />Twenty Million Dollars ($20,000,000.00) on the real estate more specifically described in <br />Exhibit B; <br />WHEREAS, the improvements of the Area will be of public utility and will be to <br />the benefit and welfare of the citizens and taxpayers of the Town. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF <br />THE TOWN OF MOORESVILLE, INDIANA AS FOLLOWS: <br />SECTION I. The proposed Project will be located in the Area which has been <br />confirmed as an Economic Revitalization Area pursuant to the <br />Act. <br />SECTION II. Based upon the information provided by the Applicant, this <br />Council makes the following findings: <br />(1) The estimate of Twenty Million Dollars ($20,000,000.00) as <br />the value of the real property improvements that will be <br />developed is reasonable for the projects of that nature. <br />(2) There are approximately forty-five (45) new individuals <br />who will be employed at the Project as a result of the new <br />real property improvements constituting the Project. <br />(3) The other benefits about which information has been <br />presented to this Council are benefits that can be <br />2 <br />