9720-06 Amend various sections in Chapter 2, Article 6 - Tax Abatement

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Ordinance Regulating Tax Abatement Regulations Page 3 (A)(~)(30 "Related Party" means any person who is related within the meaning of Section 267 of the Internal Revenue Code (i.e., United States Code Title 26, Subtitle A, Chapter 1, Subchapter B, Park IX, Section 267). (A)(~)(31) "Residentially Distressed Area" and "RDA" mean an area that meets any of the following findings as declared by the Council: a. The area is comprised of parcels that are either unimproved or contain only one (1) or two (2) family dwellings or multifamily dwellings designed for up to four (4) families, including accessory buildings for those dwellings; or b. Any dwellings in the area are not permanently occupied and are: (1) The subject of an order issued under I.C. 36-7-9; or (2) Evidencing significant building deficiencies; or c. Parcels of property in the area: (1) Have been sold and not redeemed under I.C. 6-1.1-24 and I.C. 6-1.1-25; or (2) Are owned by a unit of local government; or (3) A significant number of dwellings within the area are not permanently occupied or a significant number of parcels in the area are vacant land; or (4) A significant number of dwelling units within the area are: (a) The subject of an order issued under I.C. 36-7-9; or (b) Evidencing significant building deficiencies; or (5) The area has experienced a net loss in the number of dwelling units, as documented by census information, local building and demolition permits, or certificates of occupancy, or the area is owned by Indiana or the United States; or (6) The area (plus any areas previously designated under this subsection) will not exceed ten percent (10%) of the total area within the Council's jurisdiction. (A)(2-8)(32) "Retail" means and includes the economic activities described in major groups 44 through 45 of the North American Industry Classification System-United States, 2002 manual published by the United States Office of Management and Budget's Economic Classification Policy Committee, which manual is hereby incorporated by reference, with copies being maintained in the Office of the City Clerk.