11-08-10 Council Agenda & Packet

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representative shall be present and shall be required to present evidence why it believes the tax abatement requested should be granted, at which time the Council shall receive and hear all remonstrances and objections from interested persons pertaining to the petition. At the public hearing, the Council shall determine whether the petition complies with this article and with IC 6- 1.1- 12.1,et seq., and shall consider all pertinent requirements for Economic Revitalization Areas prior to taking final action determining whether the petition meets qualifications for an Economic Revitalization Area and confirming, modifying and confirming, or rescinding the declaratory resolution. The determination of Council is final except that an appeal may be taken and heard as provided by IC 6- 1.1- 12.1- 2.5(d) and (e). (b) The Council must make a determination as to whether the deductions shall be allowed and made specific findings pursuant to IC 6- 1.1- 12.1 -3 when considering real property tax abatement requests to be located in economic revitalization areas. The Council must further comply with IC 6- 1.1- 12.1 -4.5 and make specific finding thereto when considering personal property tax abatement requests. In the case of real property tax abatement requests to be located in residentially_distressed areas the Council must make a determination as to whether deductions shall be allowed and make specific finding pursuant to IC =36-1.1- 12.1 -2 and IC 6 -1.1- 12.1 -3. (c) In declaring an area an Economic Revitalization Area, the designating body may: (1) Limit the time period to a certain number of calendar years during which the area shall be so designated; (2) Limit the type of deductions that will be allowed within the Economic Revitalization Area to either the deduction allowed under IC 6 -1.1- 12.1 -3, IC 6- 1.1- 12.1 -4.1 IC-6-1.1- 12.1-4.5 or the deduction allowed under IC 6- 1.1- 12.1 -4. 58; (3) Limit the dollar amount of the deduction that will be allowed with respect to New Personal Property if a deduction had not been filed before July 1, 1987, for that equipment; (4) Limit the dollar amount of the deduction that will be allowed with respect to redevelopment and rehabilitation occurring in areas that are designated as Economic Revitalization Areas on or after September 1, 1988; or (5) Impose reasonable conditions related to the purpose of state law or to the general standards adopted herein for allowing the deduction for the Redevelopment or Rehabilitation of the property or the installation of the New Personal Property. (d) To exercise one (1) or more of the above - described powers, the Council must include this fact in the resolutions adopted. (e) Prior to the Common Council taking final action on a Confirmatory Resolution which involved Public Benefit Points being awarded for construction jobs, a list of contractors which are intended to be used must be filed by the Petitioner with the Department of Community Ng