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

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We have reviewed our prior aclions relating to the designation of this economic revitalization area and rind that the applicant meets the general standards adopted in the resolution previously approved by this body. Said resolution, passed under tC 6-1.1-12.1-2.5, provides for the following limilalions as authorized under IC 6-1.1-12.1-2. A. The designated area has been limited to a period of lune act to exceed calendar years' (see below) The date this designation expires is— NATE- This4i esfion addresses whether the reschwan contains an explanation date la the designated area B. The type of deduction that is allowed in the designated area is limited to: 1. Installation of new manufacturing equipmeng ❑Yes ❑ No ❑ Enhanced Abatement per IC 6-1.1-12.1-18 2 Installation of new research and development equipment; ❑ Yes ❑ No Check box If an enhanced abatement was 3 Installation of new logistical distribution equlprimi ❑ Yes ❑ Np approved krone armors of these types 4 . Installation of new information technology equipment, ❑ Yes ❑ No C, The amount of deduction applicable to new manufacturing equipment is limited to $ cost with an assessed value of S (One orboth lines maybe (fled out to establish avant, it desired.) D. The amount of deduction applicable to new research and development equipment is limited to S cast with an assessed value of S (One or both lines maybe filled our to establish a limit, i1 dearmad) E. The amount of deduction applicable to new logistical disribution equipment is limited to $cost with an assessed value of S (One orboth lines may be filled out to establish a limit, it desired.) F The amount of deduction applicable to new informalion technology equipment is limited to S cost with an assessed value of S.- (One or both lines maybe fried out to establish a limn, irdeak d) G, Other limitations or conditions faoecyN) H. The deduction for new manufacturing equipment and/or new research and develnpmenl equipment and/ornew logistical distribution equipment and/or new information technology equipment installed and first claimed eligible for deduction is allowed for: ❑ Year 1 ❑ Year 2 ❑ Year 3 ❑ Year 4 ❑ Year 5 ❑ Enhanced Abatement per IC 6-1.1-12,1-18 ElYearB Number of years approved: ❑ Year 7 ❑ Year 8 ❑ Year 9 ❑ Year 10 (Erfer one to bvenfy(1-20) years, may not exceed twenty (20) years,) I. For a Statement Of Benefits approved star June 30, 2013, did this designating body adopt an abatement schei per IC 64.1-12.1179 0 Yes ❑ No If Yes, attach a copy Of the abatement schedule to this arm. If no, the designating body is required to establish an ahatemenl schedule before are deduction can he determined, Also we have reviewed the information contained in the statement of Is"lis and find that the estimates and expeclafions are reasonable and have determined that 01e locality of cements is sufficient to justify the deduchon described dinner. Approved byt(sipnalure arta Glle of aulhodzetl member pl designe6rq LrMy) Telephonenumber Date signed(monlh, day, year) Printed name or au[har¢ed member d designafmg body Name of designating body rivesled by: Isipnali and Ale of adesled Printed name of aeester If the designating body limits de time period during which an area is an economic revitalization area, that limitation does not limit the length of time a taxpayer is entitled to receive a deduction to a number of years that Is less man the number of years designated under IC 6-1.1-12.1-17. IC 6-1.1-12.1-17 Abatement schedules Sec. 17. (a) A designating body may provide to a business that is established in or relocated to a revitalization area and that receives a deduction under section 4 or 4.5 of rhes chapter an abatement schedule based on the fogavai g factors (1) The total amount of the taxpayers investment in real end personal prupedy (2) The number of new, fult-lime equivalent jobs healed (3) The average wage of the new employees compared ,a the state minimum wage. (4) The infrastructure requirements far the taxpayer's Investment, (b) This subse dsch applies to a statement of borwfils approved after Junior 30, 2013. A designating body shall establish an abatement schedule for each deduction attained under this chapter. An abatement schedde must Specify de percmltage amount of the detluclion for each year Other deduction. An abatmmnl schedule may not exceed tan (10) years. (c) An abatement schedule approved for a particular taxpayer before Jury 1, 2013, remains in effect until the abatement schedule expires under the tenns of the resolution approving the taxpayer's statement Of benefls. Page 2 of 2