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18-38 Rew, LLC Confirming Tax Abatement
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18-38 Rew, LLC Confirming Tax Abatement
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Last modified
8/20/2018 3:12:43 PM
Creation date
8/20/2018 3:12:38 PM
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
8/27/2018
Bill Number
18-38
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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 <br /> under 1C 6-1.1-121,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 13 Yes ❑No <br /> 2,Residentially distressed areas ❑Yes ®No <br /> C. The amount of the deduction applicable is limited to$ <br /> D. Other limitations or conditions(spa cify) <br /> E. The deduction Is allowed for years"(see below). <br /> F. Did the designating body adopt an alternative deduction schedule per IC 6-1.1-12.1-177 ❑Yes ❑No <br /> If yes,attach a copy of the alternative deduction schedule to this form. <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 title ofeuthorized member ofdesignating body) Telephone number Date signed(month,day.year) <br /> Attested by(signature and title of attester) Designated body <br /> If the designating 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'destgnated under IC 6-1.1-12.1-4. <br /> A. For residentially distressed areas,the deduction period may not 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 30,2000,and is not Ina residentially distressed area,the deduction period may not <br /> exceed ten(10)years. <br /> Page 2 of 2 <br /> i <br /> I <br />
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