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05-24-10 Council Agenda & Packet
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05-24-10 Council Agenda & Packet
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9/1/2015 1:17:00 PM
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5/20/2010 10:42:58 AM
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City Council - City Clerk
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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 resuMion 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 #united to a period of time not to exceed <br />#5 <br />B . The type of deduction that is allowed in the designated area is limited to: <br />1. Installation of new manufacturing equipment; <br />2. installation of new research and development equipment; <br />3. Installation of new logistical distribution equipment. <br />4, installation of new information technology equipment; <br />calendar years " {see below). The date this designation expires <br />©Yes ❑N o <br />❑Yes FjN o <br />❑Yes ❑N o <br />❑Yes ®N o <br />C. The amount of deduction applicable to new manufacturing equipment is limited to $ <br />cost with an assessed value of <br />D, The amount of deduction appl {cable 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 (specify) <br />H. The deduction for new manufacturing equipment and /or new research and development equipment andlor new logistical distribution equipment and/or <br />new information technology equipment installed and first claimed eligible for deduction on or after July 1, 2000, is allowed for: <br />❑ 1 year 06 years ** For ERA's established prior to July 1, 2000, only a <br />❑2 years ❑7 years 5 or 10 year schedule may be deducted. <br />El years 0 years <br />04 years ❑ 9 years <br />❑ 5 years `* ❑ 10 years " <br />Afso 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 />Approved: (signature and vie of authorized member) <br />by: <br />Telephone number <br />Designated body <br />Date signed (month. day, year) <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 1C 6- 1.1- 12.1 -4.5 <br />
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