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RESOLUTION 6 , 2016 <br />TOWN COUNCIL OF MOORESVILLE, INDIANA <br />DECLARATORY RESOLUTION FOR THE DESIGNATION <br />OF AN ECONOMIC REVITALIZATION AREA <br />WHEREAS, the Town of Mooresville, Indiana (the "Town") has <br />been requested by TOA (USA), LLC (the "Applicant") to find <br />pursuant to IC 6-1.1-12.1-2.5 that the area described in Exhibit <br />"A" (the "Area") is an "Economic Revitalization Area" within the <br />meaning of IC 6-1.1-12.1-1(1); <br />WHEREAS, the Mooresville Town Council (the "Council") has <br />prepared a map showing the location of the Area describing its <br />location identifying the Area in the attached Exhibit "B"; <br />WHEREAS, the Area is located within the jurisdiction of the <br />Town of Mooresville within the corporate limits of the Town of <br />Mooresville, has become undesirable for normal growth and <br />development because of deterioration of the Area partially due <br />to environmental problems all of which have impaired values and <br />prevented normal development and use of the property; <br />WHEREAS, the Applicant has been involved with the use of <br />said property in an expanding business which has been beneficial <br />to the Area; <br />WHEREAS, the Applicant intends to buy new equipment in the <br />approximate amount of Twelve Million Two Hundred Ninety -Six <br />Thousand Dollars ($12,296,000.00) which will help the business <br />remain viable and be of benefit to the Area (the "Project"); <br />WHEREAS, the Project will consist of the purchase of and <br />installation of tangible personal property in the Area to be <br />