09-12-16 Council Packet and Agenda

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FOR USE OF THE DESIGNATING BODY We have reviewed our prior actions relating to the de§igriation of this economic revitalization area and find that the applicant meets (tie general standards adopted In the resolution previously approved by this body. Said resolution, passed under IC 6- 1.1- 12.1 -2.5, • provides for the following limitations as authotized under IC 6- 1.1- 12.1 -2. A. The designated area has been limited to aperiod of time not to exceed calendar years' (see below). The dale this designation expires Is NOTE. rhls question 'addresses whether the resolution contains an expiration date for the designated area. B. The type of deduction that is allowed to the designated area is limited to: 1 . Installation of new manufacturing equipment; ❑ Yes ❑ No ❑ Enhanced Abatement per td6- 1:1AZ1-f8 2, installation of new research and development equipment; ❑ Yes ❑ No Check box if an enhanced abatement was approved for one or more of these types 3. Inslollallon of new logistical distribution equipment. ❑ Yes ❑ No 4 . installation of new inrormpilon technology equipment; ❑ Yes ❑ No C. The amount of deduction applicable to new manufacturing equipment is limited to $ cost with an assessed value of $ . (One orbofh lines maybe flied out to establish a ling, ff desired.) D. The amount of deduction applicable to new research and developrdentequipmenl is limited to S cost with an assessed value of $ . (One orbofh lines maybe filled out to establish a limit, if desWdt) E. The amount of deduction applicable to new logistical distribution equipment is limited to S cost With an assessed value of $ (One "both lines maybe filled out to establish .a fimlf, lfdes/red.) F The amount of deduction applicable to new information technology equipment Is limited to $ cost with an assessed value of . $ (O»e orbofh lines maybe filled out to estabilsh a limit, if desYed) G. Other limitations or conditions (specify] H. The deduction for new manufacturing equipment and /dr new research and development equipment and /or new logistical distribution equipment and/or new information technology equipment installed and first claimed eligible for deduction is allowed for ❑ Year 1 ❑ Year 2 ❑ Year 3 ❑ Year ❑ Year ❑ Enhanced Abatement per IC 6-1.1- 12.1 -18 .4 Number of years approved: ❑ Year 6 ❑ Year 7 ❑ Year 8 ❑ Year 9 ❑ Year 10 (Enter one to twenty (1-20) years may not exceed twenty (20) years.) I. For la Statement of Benefits approved after June 30, 2013, did this designating body adopt an abatement schedule per IC 6- 1.142.1 -177 ❑ Yes []No If yes, attach a copy of the abatement schedule to this form. If no, the designating body 1$ required to establish an abatement schedule before the deduction can be determined. Also we have reviewed the Inforfnalion contained in the statement of benefits and find that the estimates and expectations are reasonable and have determined that the totality of benefits Is sufficient 16 Justify the deduction described above. Approved by: (signature and file of aulhodzed memberof desimaling rwdy) Telephone number Date signed (month, day. year) Printed name of authorized member of designating body Name of designating body Attested by. (WiinaWre and tine ofatlester) Printed neme of anester *!I the designating body limits the time period during which an area is an economic revkalizallon area,•that limitation does not limit it m. length' of time a taxpayer is entitled 10 receive a deduction to a nuinber of years that is less Than the dumber of years designated under IC 6-1.1- 12.1 -17. IC 64.1.1211 -17 Abaterrient schedules Sec. 17. (a) Adesignelft body may provide to a buskiess Thal is established hi or relocated to a revitalization area and that receives a deduction under section 4 or 4.5 orihis chapter an abatement schedule based on Tre 1'bwme ng factors: (1) The total amauml of the taxpayer's Investment in real and personal property. (2) The twinbet of new M4!me equivalent jobs treated. (3) The average wage of the new employees compared b the state minimum wage. (4) The lnkestrucllxe requirements for the laxpatier's inveshnent. (b) This subsection applies to a statement of beirefils approved after Jere 30, 2013. Adesignating body shall establish an abatement schedule for each deduction allowed under this chapter. An abatement scredtlle must specify the percenlage.arroa of tile deduction fof each year of the deduction. An abatement schedule may riot exceed ten (10) years. (c) An bbalement Schedule approved for a parftkr taxpayer before July 1, 2013, remains In effect until the abatement schedule expires under the terms of the resolution approving the taxpayer's siatement of bdnefils, Page 2 of 2