RESOLUTION NO. 2026- 07

RESOLUTION APPROVING DEDUCTION FROM ASSESSED VALUE
FOR PERSONAL PROPERTY
IN AN ECONOMIC REVITALIZATION AREA

WHEREAS, by Resolution 2024-018, adopted November 26, 2024, the Delaware County Council (“Council”) designated 5.21 acres of real estate located at 2100 W. Mt. Pleasant Blvd, Muncie, Indiana (Parcel No. 18-11-29-200-010.000-002) (the “Real Estate”), as and economic revitalization area for purposes of establishing a deduction to the assessed value of personal property;

WHEREAS, by Resolution 2024-021, adopted December 17th 2024, after due notice and a public hearing, the Council confirmed the designation of the Real Estate as an economic revitalization area;

WHEREAS, Mid-West Metal Products, Inc. has filed an Application for Tax Abatement and submitted a Statement of Benefits (“Application”) for the purchase of new personal property to be installed upon the Real Estate; and

WHEREAS, the Application is attached hereto as Exhibit A and incorporated by reference;

NOW THEREFORE BE IT RESOLVED that:

1.    The Council finds and determines that the Application meets the requirements for a tax abatement for personal property, is in proper form, and is complete as filed.
2.    Furthermore, in accordance with I.C. 6-1.1-12.1-3(b), the Council finds as follows:
a.  The estimate of the value of the of the proposed project is reasonable for projects of that nature.
b.  The estimate of the number of individuals who will be employed or retained can reasonably be expected to result from the project.
c.  The estimate of the annual salaries of the individuals who will be employed or retained can reasonably be expected to result from the project.
d.  Other benefits as shown on the Application can reasonably be expected to result from the project.
e.  The totality of the benefits is sufficint to justify the deductions as requested.