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

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Ordinance Regulating Tax Abatement Regulations Page 5 granted both a Base Abatement and anAdd-on Abatement may receive in total from four (4) to ten (10) years of abatement. The Council may, in its discretion and in light of its evaluation of the public benefits produced by the applicant's proposed project, grant anAdd-on Abatement to any applicant for real property tax abatement who qualifies for a Base Abatement under the provisions of Section 2- 76.3 and whose proposed project is not single-family residential construction. The Community and Economic Development Department shall provide a summarX of each applicant's public benefit point calculations which have been awarded as part of their written report which is further addressed in Sec. 2-84.9 of this Article. As a guide to its deliberations regarding anAdd- on Abatement, the Council may consider, among other things: (i)_the number of Public Benefit Points ("Public Benefit Points") awarded for the applicant's including in the Memorandum of Agreement commitments to execute one or more of the Public Benefit Actions ("Public Benefit Actions") described in paragraph A below1 and (ii)the total number of Public Benefit Points awarded in relation to the threshold numbers of Public Benefit Points required to earn consideration for additional years of abatement set forth in paragraph B below. Section III. Chapter 2, Article 6, Division 10, addressing "Personal Property Tax Abatement" of the South Bend Municipal Code is amended in part to read as follows: Sec. 2-84.2 Tangible Personal Property Tax Abatement. A. Generally: The Council believes that the following general standards have a reasonable relationship to the development objectives of promoting the installation of New Personal Property in urban development areas within the City's corporate boundaries, and would warrant tax abatement consideration as set forth herein. C. Certification of New Manufacturing Equipment, New Research and Development Equipment, New Logistical Distribution Equipment and New Information Technology Equipment: An applicant seeking personal property tax abatement must certify that it will use the New Manufacturing Equipment, New Research and Development Equipment, New Logistical Distribution Equipment and New Information Technology Equipment in one or more of the uses listed within the definition of New Manufacturing Equipment, New Research and Development Equipment, New Logistical Distribution Equipment and New Information Technolog_~Equipment set forth in I.C. 6-1.1-12.1 et seq. Section IV. Chapter 2, Article 6, Division 11, Section 2-84.7, addressing "Designation Application+Required" of the South Bend Municipal Code is amended in part to read as follows: C. 3. The legal description and commonly known address of the real property for which real property tax abatement is being petitioned; or the legal description and commonly known address of the facility at which the New