18-32 Confirming Multifamily Real Property Tax Abatement: Historic Lincoln Way West Homes (Bewery) L.P.

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FOR USE 6F THE 4ESIGNATING_.. We find that the applicant meets the general standards in the resolution adopted or to be adopted by this body. Said resolution,passed or to be passed under IC 6.1.1-12.1,provides for the following limitations: A. The designated area has been limited to a period of time not to exceed calendar years'(see below). The date this designation expires Is B. The type of deduction that Is allowed In the designated area is limited to: 1.Redevelopment or rehabilitation of real estate Improvements ❑Yes ❑No 2.Residentially distressed areas ❑Yes ❑No C. The amount of the deduction applicable is limited to$ D. Other limitations or conditions(spec fy) 1= Number ofyears allowed: ❑Year 1 []Year 2 ❑Year 3 ❑Year 4 ❑ Year 6 (*see below) ❑Year 6 ❑Year 7 ❑Year 8 ❑Year 9 ❑ Year 10 F. For a statement of benefits approved after June 30,2013,did this designating body adopt an abatement schedule per IC 6-1.1-12.1-171 ❑Yes ❑No If yes,attach a copy of the abatement schedule to this form. If no,the designating body is required to establish an abatement schedule before the deduction can be determined. We have also reviewed the Information contained in the statement of benefits and find that the estimates and expectations are reasonable and have determined that the totality of benefits is sufficient to justify the deduction described above. Approved(signature and We ofauthwized member ofdaslgnat0g,body) Telephone number Dale signed(month,day,year) Printed name of authorized member of destgnating body Name of designating body Attested by(signature and tale ofattester) Printed name of attester If the designating body limits the time period during which an area is an economic revitalization area,that Rmftatlon does not Ilmft the length of time a taxpayer is entitled to receive a deduction to a number of years that is less than the number of years designated under IC 6-1.1-12.1-17. A. For residentially distressed areas where the Form SBA/Real Property was approved prior to July 1,2013,the deductions established In IC 6-1.1-12.1-4.1 remain in effect.The deduction period may not exceed five(6)years. For a Form SB-1/Real Property that Is approved after June 30, 2013,the designating body is required to establish an abatement schedule for each deduction allowed. The deduction period may not exceed ten (10)years. (See IC 6-1.1-121-17 below.) B. For the redevelopment or rehabilitation of real property where the Form SB-1lReal Property was approve¢pdor.to_July 1,2013,the abatement schedule approved by the designating body remains in effect For a Form SB-ifReal Property that is approved after June 30,2013,the designating body is required to establish an abatement schedule for each deduction allowed.(See IC 6-1.1-12.1-17 below.) IC 6-1.1-12.1-17 Abatement schedules Sea 17.(a)Adesignating body may provide to a business that is established in or relocated to a revitalization area and that receives a deduction under section 4 or 4.6 of this chapter an abatement schedule based on the following factors: (1) The total amount of the taxpayer's Investment in real and personal property. (2) The ntunber of new fuli-time equivalent jobs created. (3) The average wage of the new employees compared to the state minimum wage. (4) The Infrastructure requirements for the taxpayer's investment. (b) This s ibsectlon applies to a statement of benefits approved after June 30,2013. Adesignating body shall establlsh an abatement schedule for each deduction allowed under this chapter. An abatement sdredule must specify the percentage amount of the deduction for each year of the deduction. An abatement schedule may not exceed ten(10)years. (c) An abatement schedule approved for a particular taxpayer before July 1,2013,remains in effect until the abatement schedule expires under the terms of the resohrtion approving the taxpayer's statement of benefits. Page 2 of 2