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.
-
a.