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WHEREAS, after considering the evidence, this Council took final action determining <br />that the qualifications for an Economic Revitalization Area have been met and took final action <br />by adopting its Resolution Number 24-2023 confirming the Declaratory Resolution (the <br />"Confirmatory Resolution'); <br />WHEREAS, Applicant has filed with this Council a Statement of Benefits Personal <br />Property (Form SB-1/PP), which describes the proposed personal property improvements by the <br />Applicant at the Project site, in order to receive a personal property tax abatement for the <br />Project pursuant to the Act; <br />WHEREAS, the Project consists of personal property improvements in the amount of <br />One Hundred and Seven Thousand Five Hundred and Ninety -Five Dollars ($107,595.00) on the <br />real estate more specifically described in Exhibit B; <br />WHEREAS, the improvements of the Area will be of public utility and will be to the <br />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 Act. <br />SECTION H. Based upon the information provided by the Applicant, this Council <br />makes the following findings: <br />(1) The estimate of One Hundred and Seven Thousand Five <br />Hundred and Ninety -Five Dollars ($107,595.00) as the value of <br />the personal property improvements that will be installed is <br />reasonable for the projects of that nature. <br />(2) There will be approximately one (1) new individual who will be <br />employed at the Project as a result of the new personal property <br />improvements constituting the Project. <br />(3) The other benefits about which information has been presented <br />to this Council are benefits that can be reasonably expected to <br />result from the construction of the Project. <br />(4) The totality of benefits is sufficient to justify the granting of real <br />property tax abatement to the Applicant through the deduction <br />provided by the Act. <br />2 <br />