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Sec 2 -79 PRIMARY IMPACT MEASURES FOR BASE PHASE -IN FOR Tangible Personal <br />Property <br />Personal Property Base Tax Phase -In petitions arc filed separately from Real Property petitions. <br />Investment: Machinery and E ui menO) <br />$50,000 to $10,000,000 <br />5 years <br />Over $10,000,000 <br />10 years <br />t') All such equipment must meet the provisions of IC 6- 1.1- 12.1 -4.5 <br />Sec 2 -80 PRIMARY IMPACT MEASURES FOR BASE PHASE -IN FOR RESIDENTIAL PROPERTY <br />Sec 2 -80.1 Multi - family residential developments. <br />(a) A Base Phase -In is available for multi - family residential developments which are <br />to be located in the Economic Development Target Areas, and which specify or <br />guarantee that for the duration of the abatement at least twenty (20) percent of the <br />units shall be available for use by low and moderate income individuals or <br />families. <br />(1) New construction. Proposed multi - family residential developments which <br />incorporate new construction of not less than one million dollars <br />($1,000,000.00) in hard - dollar costs. <br />Base Phase -In Available: 3 years <br />(2) Rehabilitation. Proposed multi- family residential developments which <br />incorporate rehabilitation of not less than two hundred fifty thousand <br />dollars ($250,000.00) in hard - dollar costs <br />Base Phase -In Available: 3 years <br />(b) An additional Bonus Phase -In Credit is available for multi- family residential <br />developments, which qualify to be considered for a base phase -in under the <br />provisions of subsection (a) above from one (1) to seven (7) years pursuant to <br />Sections 2 -81 and 2 -82. <br />Sec. 2 -80.2 Single - family residential construction. <br />(a) A Base Phase -In is available for single - family new construction homes which are <br />to be located within the City's corporate boundaries and meet the requirements <br />12 <br />