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receive and hear all remonstrances and objections fronl interested persons, with respect to the <br />Application and the Declaratory Resolution; <br /> <br /> WHEREAS, in compliance with I.C. 6-1.1-12.1-2.5, tile Council filed, with each taxing unit <br />that has authority to levy property taxes itl the Area, a copy of the Notice and the Application; <br /> <br /> WHEREAS, in compliance with I.C. 6-1. I - 12.1-2.5, on the date hereof, tile Council held the <br />Public Hearing at which it received, heard and considered evidence concerning the Application and <br />any remonstrances or objections with respect to the Application and the Declaratory Resolution; and <br /> <br /> WHEREAS, pursuant to l.C. 6-1.1-12.1-2.5, the Couucil desires to take final action <br />confirming the Declaratory Resolution; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED, that the Council hereby determines that the Area <br />is within the Town and has become undesirable for, or inlpossible of, normal development and <br />occupancy because of a lack of developnlent and otber factors which have impaired values and <br />prevented a normal developnlent of property and use of property, and, therefore, that the Area is an <br />"economic revitalization area" within the meaning of I.C. 6-1.1 - 12.1 - 1 ( 1 ). <br /> <br /> BE 1T ALSO RESOLVED, that, based on the infomlation itl the Application describing the <br />Project, the Council makes the following findings: <br /> <br />(1) <br /> <br />The estimate of the value of tile Redevelopment is reasonable for projects of that <br />nature; <br /> <br />(2) <br /> <br />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) <br /> <br />The estimate of the anuual salaries of those iudividuals who will be employed can <br />be reasonably expected to result from tile proposed Redevelopment; <br /> <br />(4) <br /> <br />The other benefits about which iufonnation was requested are benefits that call be <br />reasonably expected to result from the proposed Redevelopment; and <br /> <br />(5) <br /> <br />The totality of benefits is sufficient to justify tile 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 oil the in formation in the Application describing tile <br />Project, the Council makes tbe following findings: <br /> <br />(1) The estimate of the cost of the Equipment is reasonable for equipment of that type; <br /> <br />-2- <br /> <br /> <br />