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09-27-10 Council Agenda & Packet
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09-27-10 Council Agenda & Packet
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City Council - City Clerk
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Sec. 2-76.3. Initial Phase-In Terms and Earning Phase. Credits <br />(a) When approving a request for real or personal property tax phase-ins, the Council <br />will set the initial term during which base and bonus phase-in credits can be <br />earned. This initial term shall be ten (10) years for real and personal property tax <br />phase-ins, and five (5) years for single family residential projects. <br />(b) The actual pxaperty tax phase-in credits that may be annually claimed by a <br />property owner is restricted to these base and bonus credits that have actually <br />been earned during the previous calendar (taxable) year, in accordance with the <br />City's Phase-In Schedule. (Section 2-83). <br />(1) This deduction may be claimed only if supporting documentation is filed <br />with the property owner's annual property tax payments. <br />(2) All information bled with the County Auditor documenting phase-in <br />credits earned in any given year to determine the amount of property taxes <br />owed are submitted under pains and penalties of perjury in compliance <br />with Section 2-84.3. <br />(c) Under no circumstances will the total phase-in period exceed ten (10) years in <br />length. <br />Sec. 2-76.4. Threshold Criteria for All Applicants and Projects <br />The Council may grant a property tax phase-in to an applicant whose project meets the threshold <br />performance criteria of Section 2-77 Threshold Performance Criteria <br />DIMSION 2. SCII-IEDULES FOR DETER.MIN1lNG PHASE-IN CREDITS <br />Sec Z-77 Threshold Performance Criteria <br />The City of South Bend welcomes applications for Tax Phase-In from all businesses, <br />regardless of size, and persons that meet all of the fallowing criteria. <br />(a) All of the applicant's full time employees (located in St. Joseph County, Indiana) <br />are paid wages which exceed the Federal Poverty Wage identified annually by the <br />Council in March for the following twelve (12) month period. The Office of the <br />City Clerk and the Community and Economic Development Department shall <br />maintain a record of the current Federal Poverty Wage. <br />(b) The project meets ar exceeds Federal Equal Employment Opportunity <br />Commission statutes and regulations. <br />8 <br />
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