Laserfiche WebLink
(e) Ail references to provisions of the Indiana Code, the Municipal Code of <br />South Bend, and the United States Cade are to be interpreted as meaning <br />these provisions as they exist on the effective date of fihe ordinance from <br />which this Article derives and as they maybe amended in the future. <br />{#) Accurate and current maps of all areas defined in this Section with legal <br />descriptions are available in the Office of the City Clerk and are printed at <br />the end of this Article. Larger versions of said maps are available for <br />public inspection in the Office of the City Clerk and in the Community <br />and Economic Development Department during regular business hours. <br />Said maps may also be accessed on the City's website at <br />http: //www. southbendin.gov. <br />Sec. 2-"76.2. Earning a Pr©perty Tax Phase-In. <br />State Law allows governmental units the option to award Tax Phase-Ins of various lengths <br />aftime, from one (1) to ten (10) years. The Council has structured procedures which create <br />an opportunity for any applicant to earn the maximum phase-in benefits calculated by <br />allowing the applicant Credits in terms of years of Tax Phase-In. The Tax Phase-In shall be <br />earned in two (2) stages. <br />{a) Base Tax Phase-In Credits are earned as a result of a qualified project's primary <br />impacts, namely size of investment, job creation, and wage impacts. A <br />competitive, one-page chart (Section 2-'7$) allows for a quick calculation of the <br />term of a phase-in attributed to these criteria. <br />{b) Bonds Tax Phase-In Credits may be earned as a result of activities which <br />benefit the community in ways which extend beyond the project's primary <br />impacts. These additional phase-in credits axe divided into those which are <br />available to the property owner during two different periods of time. <br />(1) Construction and site location bonus credits, available to the property <br />owner during years one (1) through three (3) of the phase-in. (Section 2- <br />S1) <br />(2) Company on-going operations, and community benef i /goad corporate <br />citizenship credits, available to the property owner during years four (4) <br />through ten (I0) of the phase-in. (Section 2-82) <br />(e) Bonus Tax Phase-In Credit Limi#atinns Bonus Tax Phase-ln Credits may be <br />earned only for real property improvements which are not single-family <br />residential real property. <br />{d) Bonus Tax Phase-In Credits are not available to supplement the base tax phase- <br />in credits earned for tangible personal property. <br />7 <br />