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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 /> <br /> WHEREAS, the improvement of the Area described in the <br /> Application will be of public utility and will be to the benefit <br /> <br /> and welfare of all citizens and taxpayers of the Town; and, <br /> WHEREAS, the Council has reviewed the Application; <br /> <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(i)). <br /> <br /> BE IT ALSO RESQLVED, that, based on the information in the <br />Application describing the project, the Council makes the <br />following findings: <br /> <br /> (1) The estimate of the value of the Redevelopment is <br /> reasonable for projects of that nature; <br /> <br /> (2) The estimate of the number of individuals who will be <br /> employed can be reasonably exp~dted t~- res~!t~from the <br /> <br /> <br />