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Page 2 of 2 <br />FOR OF DESIGNATING :•e <br />We have reviewed our prior actions relating to the designation of this Economic Revitalization Area and find that the applicant meets the general standards <br />adopted in the resolution previously approved by this body. Said resolution, passed under IC 6 -1.1 -12.1, provides for the following limitations: <br />A. The designated area has been limited to a period of time not to exceed calendar years ' (see below). The date this designation <br />expires is <br />B. The type of deduction that is allowed in the designated area is limited to: <br />1. Redevelopment or rehabilitation of real estate improvements 'Yes ❑ No <br />2. Residentially distressed areas Yes ❑ No <br />3. Occupancy of a vacant building [Yes ❑ No <br />C. The the deduction is limited to $ ^l� <br />amount of applicable <br />D. Other limitations or conditions (specify) <br />E. The deduction is allowed for years' (see below). <br />We have also reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have <br />determined that the totality of benefits is sufficient to justify the deduction described above. <br />Approved (signature and titleof authprized member of designating body) <br />Telephone number <br />Date signed (month, day, year) <br />Attested by (signature and title of attes r) p <br />Designated body 03 <br />' If the desig ling body limits the time period during which an area is an economic revitalization area, it does not limit the length' of time a taxpayer is <br />entitled to receive a deduction to a number of years designated under IC 6- 1.12 - 12.1 -4. <br />A. For residentially distressed areas, the deduction period may riot exceed five (5) years. <br />B. For redevelopment and rehabilitation or real estate improvements: <br />1. If the Economic Revitalization Area was designated prior to July 1, 2000, the deduction period is limited to three (3), six (6), or ten (10) years. <br />2. If the Economic Revitalization Area was designated after June 20, 2000, the deduction period may not exceed ten (10) years. <br />C. For vacant buildings, the deduction period may not exceed two (2) years. <br />Page 2 of 2 <br />