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lives, thereby contributing to the quality of life and revenues <br /> <br /> of all levels of government; and <br /> <br /> 10. That the Applicant has plans for new construction of a <br /> <br /> 27,000 square foot building and new equipment. <br /> <br /> BE IT FURTHER RESOLVED that the Town Council of the Civil <br /> <br /> Town of Mooresville hereby confirms the following resolutions <br /> concerning the designation of the herein described real estate <br /> as an "Economic Revitalization Area", to-wit: <br /> <br /> 1. The following described real estate in Morgan County, <br /> <br /> Indiana, shall be designated an "Economic Revitalization Area": <br /> <br /> Lot 16 in Flagstaff Business Park, Mooresville, Morgan <br /> County, Indiana <br /> <br /> 2. The owners of the 3.856 acres of real estate described <br /> <br /> herein as set out above will be RSR Company, LLC. d.b.a. Cougar <br /> <br /> Bag, Inc., an Indiana for profit corporation. <br /> <br /> 3. All of the businesses and industries located with the <br /> <br /> area designated as an Economic Revitalization Area shall be <br /> eligible for the deductions in assessment of real estate and <br /> personal property values provided in Indiana Code 6-1.1-12.1-1 <br /> et seq., as the same is amended from time to time. <br /> <br /> 4. The deduction from assessed value of real property and <br /> new manufacturing equipment located within the Economic <br /> Revitalization Area shall be limited to the maximum period of <br /> the six (6) year assessment deduction for new construction to <br /> the real estate and the five (5) year deduction for new <br /> <br /> manufacturing equipment from the period of first assessment of <br />C <br /> <br /> <br />