20-34 Designating Real Property Tax Abatment for Tri-Pac, Inc

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the have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets Ne general standards adopted in the resolution previously approved by this body. Said resolution, passed under IC 6-1.1.12.1 2.5, provides for the following limitations as authorized under IC 6-1.1-12.1-2. A. The designated area has been limited to a period Of time Phil to exceed calendar Is years' (see below) The date this designation expires NOTE' This question arddresses wir,mer the re30"ber contains an expiration date Ior the designated area. S. The type o(deduclibn that Is shoved in the designated area is limited to 1 Installation of new manufacturing equiprrlenl; C Yes C No 2. Installation ofnew research and development equipment; C Yes ❑ No 3 Installation o(new Iogistl al distdbulion equlpmeol. C Yes ❑ No 4 . Installation of new information technology equipment, Oyes C N o C. The amount at deduction applicable 10 new manufacturing equipment is limited to 3 5 (One orboth lines maybe Idled out to establish a limit, h desim l) D. The amount of deduction applicable to new research and development equipment is limited to 5 6 . (One or both lines maybe riled out to establish a limit, iI desired.) E. The amount of deduction applicable to new logistical distribution equipment is limited to6 6 . (One orboth lines may be filled out to establish a limit, if desked.) F. The amount of deduction applicable to new mfounailon technology equipment is limited to S _ 5 (One or both lines may be filed out m establish a limit, Hdestrei G. Other limitations or conditions (sone iM C Enhanced Abatement per IC 6-1.1-12.1-16 Check box Ilan enhanced abatement was approved for one or more of these types cost with an assessed value of with an assessed value of cost with an assessed value of cost with an assessed value of H. The deduction for new manufacturing egnipmenl andmr new research and development equipment and/or new logistical distribution equipment and/or new information technology equipment installed and first claimed eligible for deduction is allowed for: D Year 1 D Year 2 ❑ Year 3 D Year 4 D Year 5 D Enhanced Abatement per IC 6-1.1-12.1-18 ❑ Number of years approved: Year ❑ Year ❑ Year ❑ Year D Year 10 (Enter one to fwenty(1-2A) years; may not exceed husmy (20) years,) 1 Fora Statement If enefits approved after June 30, 2013, did this desg noting body adopt an ahatament schedule per IC 6-1.1-12.1-177 C Yes D No If yes, allach a ropy of the abatement schedule m this form. If no. the designating body Is required to establish an abatement schedule before the deduction can be delermtrmtl. Also we have ranixi d the information contained in the statement of benefits and rind that the estimates and expectations are reasonable and have determined that the totality of benefits is suf6rent to justify the deduction described above. Data ' If me designatinbody limits the time period during which an area is an economic revitalization area, that limitation does not limit the length of lime a taxpayer Is eniitteg tl to receive a deduction to a number of years that Is less than the number of years designated under IC 6.1.1-12.1-17. IC 6-1.1-12.1-17 Abatement schedulas Sec. fl. (a)A desigmr8ng body may provide to a btsinai Thal is established fn Or relocated to a revitalization area and Aa( receives a deduction under section 4 or 4.5 Of this chapter an abatement sc rodwe based On the following factors. - (1) The total amount Clint taxpayers ulvesbrcnt in mal er d personal property (2) The number of new full -lime equivalent jobs created. (3) The average wage of the new employees Compared tc the stale minimum wage. (4) The infraslruche a requirements far the taxpayer's bnvestmem. (b) This subsection appose, to a Statement ofbeheri approved aner June 3% 2013. A designating body Shan establish an abatement scnedula far each deduction allowed under this chapter. An abalement schedltle must aper fy the percentage amou d of the deduction for each year of the deduction, An abalernenl schedule may not exceed len (10) years. (c) An abatement schedule approved for a particular taxpayer before July 1, 2013, remains in effect until the abatement Schedule expires untler the terms of the resolution approving the taxpayer's statement Of benerds. Page 2 Of 2