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(1) The estimate of the value of the Redevelopment is reasonable for projects of that <br /> nature; <br /> <br /> (2) The estimate of the number of individuals who will be employed can be reasonably <br /> expected to result from the proposed Redevelopment; <br /> <br /> (3) The estimate of the annual salaries of those individuals who will be employed can <br /> be reasonably expected to result from the proposed Redevelopment; <br /> <br /> (4) The other benefits about which information was requested are benefits that can be <br /> reasonably expected to result from the proposed Redevelopment; and <br /> <br /> (5) The totality of benefits is sufficient to justify the granting of real property tax <br /> deductions to the Applicant pursuant to I.C. 6-1.1-12.1-3. <br /> <br /> BE IT ALSO RESOLVED, that, based on the information in the Application describing the <br />Project, the Council makes the following findings: <br /> <br /> (1) The estimate of the cost of the Equipment is reasonable for equipment of that type; <br /> <br /> (2) The estimate of the number of individuals who will be employed can be reasonably <br /> expected to result from the installation of the Equipment; <br /> <br /> (3) The estimate of the annual salaries of those individuals who will be employed can <br /> be reasonably expected to result from the proposed installation of the Equipment; <br /> <br /> (4) The other benefits about which information was requested are benefits that can be <br /> reasonably expected to result from the proposed installations of the Equipment; and <br /> <br /> (5) The totality of benefits is sufficient to justify the granting of personal property tax <br /> deductions to the Applic ant pursuant to I.C. 6-1.1 - 12-4.5. <br /> <br /> BE IT ALSO RESOLVED, that the Area is hereby declared to be an "economic revitalization <br />area" pursuant to I.C. 6-1.1-12.1. <br /> <br /> BE IT ALSO RESOLVED, that the period for real property tax deductions under I.C. 6-1.1- <br />12.1-3 for redevelopment or rehabilitation in the Area shall be ten (I0) years and the period for <br />personal property tax deductions under I.C. 6-1.1-12.1-4.5 for new manufacturing equipment <br />installed in the Area shall be ten (10) years. <br /> <br /> BE IT ALSO RESOLVED, that, based on the information in the Application and the <br /> foregoing findings, the Council, pursuant to I.C. 6-1.1-12.1, hereby approves and allows the <br /> <br />-2- <br /> <br /> <br />