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02-08-10 Council Agenda & Packet
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02-08-10 Council Agenda & Packet
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We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the general standards <br />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 <br />authorized under IC 6-1.1. 12.1 -2. <br />A . The designated area has been limited to a period of time nort to exceed calendar years ` (sea beiow). The date this designation expires <br />B . The type of deduction that is allowed in the designated area is limUed to: <br />[]Yes <br />ON o <br />1. Installation of new manufacturing equipment; <br />2. Installation of new research and development equipment; <br />C Ye s <br />®N o <br />3. Installation of new logistical distribution equipment. <br />❑ Yes <br />❑ N o <br />4. Installation of new information technology equipment; <br />❑Yes <br />N o <br />C. The amount of deduction applicable to new manufacturing equipment is.limited <br />to $ <br />cost with an assessed value of <br />D. The amount of deduction applicable to new research and development equipment is limited to $ cost <br />with an assessed value of $ <br />E. The amount of deduction applicable to new logistical distribution equipment is limited to $ cost with an assessed value of <br />F. The amount of deduction applicable to new information technology equipment Is limited to $ cost with an assessed value of <br />G. Other limitations or conditions (Spec/fy) <br />K The deduction for new manufacturing equipment and/or new research and development equipment and/or new logistical distribution equipment and/or <br />new Information technology equipment Installed and first claimed eligible for deduction on or after Juiy 1, 2000, is allowed for <br />®1 year 06 years " For ERA's established prior to July 1, 2000, gpLy a <br />®2 years ®i years 5 or 10 year schedule may be deducted. <br />03 years ®a years <br />[--14 years ❑ 9 years <br />® 5 years ®10 years— <br />Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have <br />determined that the totality of benefits is sufficient to justify the deduction described above. <br />iproved: (5gzaVe and a —n Telephone number flats signed (month, day, year) <br />I Attested by. � e ��% I Deslgnsted body <br />1 <br />If the designating body lfmft the time period during which an area is an economic revitalization area, it does not limit the length of time a taxpayer is <br />ended to receive a deduction to a number ofyears designated under IC 6-1.1 - 92.1 -4.5 <br />
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