20-27 Confirming Real Property Tax Abatement for Commonwealth Dev. Corp.

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FOR USE OFTHE DESIGNATING BODY We Ind mal the applicant meals the general standards In the resolulan adopted or to be adopted by this body. Said resolullon, passed or to be waged under IC 6-1.1-12.1, provides for the fallowing Hrtlleaons. A. The deslgrolM area has been limited to a period of time not to exceed calendar years' Idea be/w9. The date this dealgnarlor expire. Is B. The type of deduction that Is allowed In the designated area is 3mlted to: I. Redevelopment lir rehabliallon of reel estate Improvements ❑Yes ONO 2. Residentially dlabassed areas 0Yes ONO C. The amount of the deduction applicable Is limited to S I Other limitations or conditions (specify/ I Number of years allowed: Year 1 0 Yen 2 Year 3 0 Year4 0 Year 9 ('see below) Years 0Yew 7 Years 0Year 9 0Year 10 F. For a statement of banalls approved after June 30, 2013, do this designating body adopt an abatement schedule par IC 6-1.1-12.1477 0 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 Yee have also reviewed the Informatlon contalrad in the statement or baneNs and Sstl that the estimates and expectations we reasonable and have determined that the totality of benefits Is sufficient to justify Ne deduction described shove. Anil(srpmfen and a)b ofaulrrMsd sumac 0 daansatma away) ideeHege nuel ( ) pale demd source, day, 1'a ad PrlMad num el auevnW mrnHu of deriYmenY body Noma of deggnailnl body Alleged by (eranaNn and Ifle dreaaare4 Pdnleg corse glaaewur 'If the designating body limits the time period during which an area is an economic revitalization area, that limitation does not limit the length of time a r taxpayer is anlllled to recelve a deduction to a number of years that b less then the number of years designated under IC G1.1-121-17. A. For residentially distressed areae where the Form S6 li Property was approved prior to July 1. 2013, the deductions aslabllshad In IC 6-11-12.1.4.1 rea In In e6ed. The deduction period may not exceed live (9) years. For a Form SS-I/Real Property that is approved after June 30. ' 2013, the designating body is hall to establish an abatement schedule fureach deduction allowed. The deduction period may not exceed len (10) yams. (See IC &1.1-12,1-17 below) I For the redevelopment or reheblliaupn of real property where the Farm S13-1fReal Property was approved prior to Jury 1, 2013, the abatement schedule approved by the designating body remains In staged For a Fano SB-tJReal Property that is approved after June 30, 21113, the designating body le required to establish an abatement schedule for each deduction elevate. (See IC 6-1.1-12.1-17 below.) IC 0-1.1-12.1-17 Abatement schedules Sao. 17. (a)A designating body may provide to a business that Is established In lir 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 fotiawing (adore: (1) The total amount of the taxpayer. Investment in real and personal property. (2) The number fnew full-time equlValent jobs created. (3) The average wage or the new emptoyeas compared to the stale minimum wage. (4) The Infrastructure requirements for the taxpayers Investment. (b) This subsection applies Is a statement o1 benefits approved ether June 30, 2013. A designating body snall establish an abatement schedule for each deduction allowed under this chapter. An abatement achodula must specify the percentage amount of the deduction for each year of the deduction. An ebaemenl schedule may not exceed len (10) years. (c) An abatement schedue approved for a particular taxpayer before July 1,2013, remains In effect until the abatement schedule expires under the terms of the resotulicn approving the taxpayers statement orbital Page 2 of 2