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MOORE,SVILLE TOWN COUNCIL RESOLUTION NO. _]_-2019 RESOLUTION PRELIMINARILY DESIGNATING ECONOMIC REVITALIZATION AREA AND QUALIFYING CERTAIN PERSONAL PROPERTY FOR TAX ABATEMENT — OVERTON INDUSTRIES, INC. WHEREAS, Overton Industries, Inc. (the "Applicant") has filed with the Town Council of the Town of Mooresville, Indiana (the "Town Council" and the "Town", respectively) on January 7, 2019, a Statement of Benefits Personal Property (the "Application"), pursuant to I.C. 6-1.1- 12.1-1-1 et. seq.; and WHEREAS, the Application has been reviewed by the staff and the Town Council. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF MOORESVILLE, INDIANA, AS FOLLOWS: Declaration of Economic Revitalization Area. The Town Council declares that the location described in Exhibit A, attached to and made part of this resolution (the "Location" or the "Real Property") is, and shall hereinafter be, preliminarily deemed an "economic revitalization area" as that phrase is used and intended under the provisions of Indiana Code Sections 6-1.1-12.1- 1 et. seq. 2. Personal Property. The Town Council declares that any and all personal property purchased and installed at the Location after the date of the adoption of this resolution by the Town Council, including the personal property described in Exhibit B, shall be eligible for personal property tax abatement pursuant to the provisions of 1. C, 6-1.1-12.1-1 et. seq. 3. Compliance with Applicable Resolution and Statues. The Town Council declares that the Application complies in all respects with all governing Indiana statutes, and that the Application, in all respects, is preliminarily granted and approved. 4. Findings of Fact. The Town Council states that the Location is now undesirable for, or impossible of, normal development and occupancy because of a lack of development, cessation of growth, deterioration of improvements or character of occupancy, age, obsolescence, substandard 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 stated in the Application is reasonable; (b) The employment numbers stated in the Application as a result of the Project, if any, are reasonably expected; 24227544.1