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2 . That this Council has determined, based on the <br /> information provided by the Applicant, that the site has become <br /> . undesirable for or impossible for normal development and <br /> occupancy inasmuch as the property has failed to develop and has <br /> not attracted any industrial development in the past ten (10) <br /> years, which factor has caused a cessation of growth and <br /> prevents an efficient and normal use of the subject property; <br /> and <br /> 3 . That the subject real estate complies with the general <br /> requirements of the Mooresville Town Council according to <br /> Indiana Code 6-1. 1-12 . 1-2 for determining "Economic <br /> Revitalization Area" within the jurisdiction of said Council, as <br /> evidenced by the information provided in the Petitioner' s <br /> Application; and <br /> 4 . That the improvement of the real estate described <br /> herein would be of public utility and would be to the benefit <br /> and welfare of all citizens and taxpayers of the Town of <br /> Mooresville; and <br /> 5 . That the subject real estate is zoned PUD-I (Planned <br /> Unit Development Industrial) according to the Town of <br /> Mooresville Zoning Ordinance; and <br /> 6. That designation of the subject property as an <br /> "Economic Revitalization Area" will assist in the inducement of <br /> ti <br /> a project which will provide employment opportunities to <br /> residents of the Town of Mooresville; and <br /> 7 . That factors supporting the findings of this "Economic <br /> Revitalization Area" include that, additional development to the <br />