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3. The area so designated is within the corporate limits <br />of the Civil Town of Mooresville considered to be a rural area <br />which has become undesirable for normal development and <br />occupancy due to a lack of development, cessation of growth, <br />deterioration of improvements and other factors which have <br />impaired values and preventing normal development of property or <br />use of property. The factors supporting such findings include: <br /> <br /> (a) The area is an existing industrial area that is <br /> being expanded into areas that could not be accessed <br /> or used; <br /> <br /> (b) The expenses involved in developing this ground <br /> in the expansion area are not within the means of the <br /> Town of Mooresville, residents and landowners in the <br /> area or the Town of Mooresville; <br /> <br /> (c) The proposed addition of new construction for <br /> manufacturing is sufficient to warrant expenditures <br /> for the abatement and to bring new business to the <br /> Town of Mooresville; <br /> <br /> (d) It is important to maintain existing businesses <br /> within the Town of Mooresville by determining this <br /> area to be an Economic Revitalization Area thereby <br /> affording the landowner benefits of such a <br /> designation; and, <br /> <br /> (e) The real estate will add new existing employees <br /> to utilize both the plant, existing land and to add to <br /> the tax base far in excess of its existing use. <br /> <br /> 4. The area has a potential for redevelopment and <br />rehabilitation in light of the proposed capital improvements <br />through new building construction. <br /> <br /> 5. The area concerned meets the standards established by <br />the Mooresville Town Council for potential tax deductions as <br /> <br /> <br />