Laserfiche WebLink
Er_ <br />Vtte have reviewed cur prior actiocs relating to the designation of this Economic Revitalization A ea arid find that the applicant meets the general standards <br />acopted in the reso €ution previously approved by this body. Said resolut'on: passed u1tder iC a t.1 t 2.1, provides for the folloeding imitations <br />A. The designated area has been limited to a period of time not to exceed calendar years ' ; see bce ow). The date this designation <br />expires is <br />E. The type of deduction that is allowed in the designated area is limited to <br />1. Redevelopment or rehabilitation of real estaie improvements i Yes L No <br />2. Residentially distressed areas Yes J No <br />3. occupancy of a vacant building C' Yes a No <br />C. The amount of the deduction applicable is limited to S <br />D. Other limitations or conditions <br />E, The deduction is allowed for <br />years' (see below). <br />We have also 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 />Date si nad month, day, <br />Approved (signature and title of authorized member of designating body) Telephone number l 9 ( Y year) <br />Attested by (signature and title of attester) I Designated body <br />" If the designating body limits the time period during which an area is an economic revitalization area, it does not limit the length of time a taxpayer is <br />entitled to receive a deduction to a number of years designated under IC 6 -1.12- 12.1 -4. <br />A. For residentially distressed areas, the deduction period may not exceed five (5) years. <br />B. For redevelopment and rehabilitation or real estate improvements. <br />1. If the Economic Revitalization Area was designated prior to July 1, 2000, the deduction period is limited to three (3), six (6), or ten (10) years. <br />2. If the Economic Revitalization Area was designated after June 20, 2000, the deduction period may not exceed ten (10) years. <br />C. For vacant buildings, the deduction period may not exceed two (2) years. <br />Page 2 of 2 <br />