20-32 Designating Personal Property Tax Abatement for Tri-Pac, Inc.

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FUSE OF THE DESIGNATING BODY OR 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 under IC6-1.1-12.1, provides for the following limitations: A The designated area has been limited to a period of time not to exceed calendar years' (see below). The date this designation expires is 8. The typeof deduction that isallowed in the designated area is limited to: 1. Redevelopment or rehabilitation of real estate improvements D Yes D No 2. Residentially distressedareas D Yes D No C. The amount of the deduction applicable is limited toy !7 Other limitations or conditions (specilyJ E. Number of years allowed: D Year ❑ Year2 ❑ Year3 D Year4 ❑ Year5 ('seebelow) D Year6 D Year7 D Years D Yeeng D Year10 F. For a statement of benefits approved after June 30, 2013, did this designating body adopt an abatement schedule per IC 6-1.1-12.1-17? ❑ 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. We have also reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have determined that the totality of benef its is sufficient to justify the deduction described above. Approved signature a or auififirlZeder of befighaderg Tetleptote number Dale signed (mi day year) F I.'Itec name d aJbon-ed menper at designar, holy Name of designating body Nested by (signaive and title W Slashed Pdntecl name of attester `If thedesignating body limits the time period during which an area is aneconomic revitalization area, that limitation does not limit thelangur of times taxpayer is ent6led to receive a deduction toe number of years that is less than the number of years designated under IC 6-1.1-12.1-17. A Forresidentially distressed areas where the Form SB-1/Real Property was approved prior to July 1, 2013, the deductions established in IC 6-1.1-12.14.1 remain In effect. The deduction period may notexceed five(5)years. Fora Form SB-1/Real Property thatis approved afterJune 30, 2013, the designating body is required to establish an abatement schedule foreach deduction allowed. The deduction period may notexceed len (10) years. (See IC 6-1.1-12.1-17 below.) B. Forthe redevelopment or rehabilitation of real property where the Form SB-1/Real Property was approved prior to July 1, 2013, the abatement schedule approved by the designating body remains in of f ect. Fora Form SB-1/Real Property that Is approved after June 30. 2013. the designating body is required toestablish an abatement schedule foreach deduction allowed. (See IC 6-1.1-12.1-17 below.) IC 6-1.1-12.1-17 Abatement schedules Sec. 17. (a) A designating body may provide told business that is established in or relocated to a revitalization area and that receives a deduction under section 4 or 4.5 of this chapter an abatement schedule based on the following factors: (1) The total amount of the taxpayers investment in real and personal property. (2) The number of new full-time equivalent jobs created. (3) The averagewage of the new employees compared to the state minimum wage. (4) The infrastructure requirements forthe taxpayers investment. (b) This subsection applies to a statement of benefits approved sf ter June 30, 2013. A designating body shall establish an abatement schedule foreach deduction allowed under this chapter. An abatement schedule must specify the percentage amount of the deduction foreach year of the deduction. An abatement schedule may not exceed ten (10) years. (c) An abatement schedule approv, ed for a particular laxpay er before July 1,2013, remains in at act until the abatement schedule ex pines under the terms of the resolution approv Ing the taxpayers statement of benef its. Page 2 of 2