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investment, new employment and new wealth to the community with the result of <br />creating growth and improving quality of life. <br />(c) The Council finds to be effective, a tax - phase -in policy must be competitive, <br />flexible and easy to understand and procedures for application, compliance and <br />reporting must be simple, fair and welcoming. <br />(d) The Council recognizes an attractive, fair and equitable ordinance is best achieved <br />if the opportunity to phase in new tax payments is earned annually through actual <br />performance, as opposed to negotiating at the beginning of a project, and making <br />an award based upon best estimates of future activities. <br />(e) The Council has crafted this ordinance so as to encourage expanded investments, <br />continuous job creation, and a pattern of positive corporate behavior during the <br />entire term over which a tax phase -in might be established. <br />(f) The Council, therefore, declares the tax abatement procedures and general <br />standards set forth in this Article shall govern tax phase -in requests filed for its <br />consideration. <br />(g) The tax phase -in procedures and general standards set forth in this Article are <br />promulgated pursuant to the "Home Rule" Powers vested in the City pursuant to <br />I.C. 36 -1 -1 -3 et seq., and the "Deduction for Rehabilitation or Redevelopment of <br />Real Property in Economic Revitalization Areas" statute set forth in IC 6 -1.1- <br />12.1 -1 et seq (hereafter "State Law "). All persons who desire to seek real or <br />personal property tax phase -in consideration, have the duty to comply with the <br />applicable provision set forth in this Article, as well as all State Law <br />requirements. <br />(h) The Legislative findings are hereby incorporated into the remaining provisions of <br />this Tax Phase -In Ordinance. <br />See. 2 -76.1. Definitions, Interpretation and Area Maps. <br />(a) For purposes of this Article, unless the context otherwise requires, a term <br />that begins with an upper case letter has the meaning assigned in the sentence in <br />which it appears within quotation marks, and the following words and phrases <br />have the meanings set forth below. <br />(1) Airport Economic Development Area and AEDA mean the area <br />located within the City's corporate boundaries designated by the <br />South Bend Redevelopment Commission and the Common <br />Council, as amended from time to time, and filed with the City <br />Clerk's Office with notice to the president of the ,South Bend <br />2 <br />