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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 <br /> remain employed and those who will gain employment can <br /> be reasonably expected to result from the proposed <br /> Redevelopment; <br /> (3) The estimate of the annual salaries of those <br /> individuals who will be employed and those who will <br /> continue to be employed can be reasonably expected to <br /> result from the proposed Redevelopment; <br />