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to be acquired by the Applicant, as its owner, for use in the <br /> direct production, manufacture, fabrication, assembly, <br /> processing, refining or finishing of other tangible personal <br /> ( property, which tangible personal property has never before been <br /> used by its owner for any purpose of Indiana (the "Equipment") ; <br /> WHEREAS, the improvement of the Area described in the <br /> Application will be of public utility and will be to the benefit <br /> and welfare of all citizens and taxpayers of the Town; and, <br /> WHEREAS, the Council has reviewed the Application; <br /> NOW, THEREFORE, BE IT RESOLVED, that the Council hereby <br /> determines that the Area is within the Town and has become <br /> undesirable for, or impossible of, normal development and <br /> occupancy because of a lack of development and other factors <br /> which have impaired values and prevented a normal development of <br /> property and use of property, and, therefore, that the Area is <br /> an "Economic Revitalization Area" (as defined in IC 6-1 . 1-12 . 1- <br /> 1 (1) ) . <br /> BE IT ALSO RESOLVED, that, based on the information in the <br /> Application describing the project, the Council makes the <br /> following findings : <br /> (1) The estimate of the value of the Redevelopment is <br /> reasonable for projects of that nature; <br /> (2) The estimate of the number of individuals who will be <br /> employed can be reasonably expected to result from the <br /> proposed Redevelopment; <br />