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01-14-08 Council Meeting Agenda & Packet
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01-14-08 Council Meeting Agenda & Packet
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Last modified
11/25/2008 1:22:12 PM
Creation date
1/10/2008 1:45:37 PM
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City Council - City Clerk
City Counci - Date
1/14/2008
Document Relationships
9816-08 Vacation - Alley - Meade, Kenwood
(Superseded by)
Path:
\Public\Common Council\Legislation\Ordinances\2008
9817-08 Establish Additional fund - Fund #435- TIF District
(Superseded by)
Path:
\Public\Common Council\Legislation\Ordinances\2008
Confirming Tax Abatement - 202 South Michigan Street - Various Floors - Key Bank, LLC (The Hinman Company)
(Superseded by)
Path:
\Public\Common Council\Legislation\Resolutions/Special Resolutions\2008
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We have reviewed ow prior aaions relating to the designation of this Economic Revitalization Area and find drat the applicant meets the general standards <br />adopted in the resolution previously approved by this body. Said resolution, passed under IC &1.1-12.1, prowtdes for the tollowing limitations: <br />A. The designated area has been dmiled to a period of time not to exceed calendar years ' (see below), The date this designation <br />expires is <br />8. The type of deduction that is allowed in the designated"area is limited to: ~ ' <br />t. Redevelopment ar rehabilitation of real estate improvements ^ Yes ^ No <br />2. Residentially distressed areas ^ Yes ~ No <br />3.Occupancy of a vacant bwlding ^ Yes ^ No . <br />C. The amount of the deduUidn applicable is limited to $ <br />0. Other limitations or conditions <br />E. The deduction rs agowed for <br />years' (see below). , <br />We have also reviewed the information contained in the statement oI benefits and find that the estimates and expectations are reasonable and have <br />determined that the Totality of benefits is su~iclanl to justify the dedugion desaibed above. <br />Tole no numbor ~ Dale sigreod (month, day. year) <br />Approved tsignalwe and tills of aufnait:ed member of det6gneGng body) Pt10 <br />- I Designated body <br />Aaested by tsegneture and trite p/anester) <br />' It the designating body Emits the time period during which an area is an economic revilabzation 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 1C 6-1.12.12.7.4. <br />A. For iesidentiatly distressed areas, the deduction period may not exceed ieve (S) years. •• <br />(3. For'redevetopment and rehabilitation or real estate improvements: <br />1, If the Economic Revitafizatiort Area was designated prior to July t. 20D0. the deduction period rs lirnded to Three (7). six (6), or ten (10) years. <br />2. It the Economic Revitatiralion Area was designated after June 20, 2000. Iha deduction period may not exceed ten (t0) years. <br />C. Fw vacant buildings, the deducion period may not exceed two (2) years. <br />Page 2 0l 2 <br />
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