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applicable zoning laws. <br /> <br /> 6. The designation of the subject property as an Economic Revitalization Area will be an <br /> inducement to the completion of the project which will provide employment opportunities to the <br /> Town of Mooresville. <br /> <br /> The Resolution pursuant to these Findings of Fact, as adopted, should be reaffirmed and <br />forwarded to the Morgan County Assessor to qualify for tax deductions and assessment <br />adjustment for real property when new improvements are constructed by the Applicant, or <br />Purchaser from the Applicant, for manufacturing equipment to be installed and buildings to be <br />erected that would qualify for such adjustments and deductions within the terms and conditions <br />of the Indiana Code section cited if a proper application for statement payment of fees is made. <br /> <br /> The petition for the designation as an Economic Revitalization Area requests a six (6) <br />year deduction from assessed value of real property, and a five (5) year deduction from the <br />assessed value of new manufacturing equipment, and the Mooresville Town Council finds that it <br />is in the best interest of the public to grant the six (6) year period of deduction for real property <br />and five (5) year period of deduction of new manufacturing equipment as subsequently approved <br />by the governing body under the law and procedure for designation of Economic Revitalization <br />Areas because of this substantial size of the investment in the business park and the number of <br />projected employees and businesses anticipated. <br /> <br /> These Findings of Fact are dated this 7th day of March, 2000. <br /> <br /> MOORESVILLE TOWN COUNCIL <br /> <br />John L. CIo~) <br /> <br /> <br />