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We have reviewed our prior actions relating to the designation of this Economic Revitalization Area and find that the applicant meets the <br /> general standards adopted in the resolution previously approved by this body. Said resolution, passed under IC 6-1.1-12.1, provides for <br /> 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 <br /> designation expires is <br /> B. The type of deduction that is allowed in the designated area is limited to: <br /> 1. Redevelopment of 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 amount of the deduction applicable is limited to$ <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 <br /> and have determined that the totality of benefits is sufficient to justify the deduction described above, <br /> Approved(signature and title of authorized member of designating body) Telephone number pate 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 <br /> taxpayer is 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 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), <br /> 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 />