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RESOLUTION 1, 2000 PRELIMINARY RESOLUTION FOR DESIGNATION OF ECONOMIC REVITALIZATION AREA REGARDING THE APPLICATION OF WAGAN, LLC d/b/a THERMOCORE PANEL SYSTEM, INC. WHEREAS, the Town of Mooresville has been requested by the above owners of record to find pursuant to IC 6-1.1-12.1-2 that the following described real estate is an Economic Revitalization Area: (see attached Exhibit "A" which is attached hereto and made a part hereof) WHEREAS, said described real property is located within the jurisdiction of the Mooresville Town Council for purposes set forth in IC 6-1.1-12.1-2; and WHEREAS, IC 6-1.1-12.1-2.5 allows for the Town Council of the Civil Town of Mooresville to prepare maps and plats that identify the area or boundaries by description and location to public ways, streams or otherwise identifying areas to be included in an Economic Revitalization Area; WHEREAS, after the compilation of the materials described above, the Town Council, by statute, is required to pass a Resolution declaring the area an Economic Revitalization Area; WHEREAS, the Town of Mooresville also has passed a Tax Abatement Policy which determines the number of years a deduction will be allowed on personal and real property; WHEREAS, the Town Council recognizes that it is beneficial to designate certain areas within the Town of Mooresville as Economic Revitalization Areas for tax abatement purposes; WHEREAS, the Statement of Benefits filed by Wagan, LLC d/b/a Thermocore Panel System, Inc. (hereinafter "Thermocore") does meet the requirement for abatement for real property in the amount of six (6) years and personal property in the amount of five (5) years, and said real property being more particularly described in the attached Exhibit "A" which is attached hereto and made a part hereof and further that the abatements are subject to the