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Sec. 2-78.1 Office Developments Within East Bank <br /> Development Area and Tax Abatement Impact Areas. <br /> (a) The Common Council believes that the following <br /> general standards have a reasonable relationship to the <br /> development objectives of office development projects within <br /> the East Bank Development Area and the Tax Abatement Impact <br /> Areas of the City of South Bend, and would warrant tax <br /> abatement consideration as set forth herein. <br /> (b) Three-Year General Standards: <br /> (1) New Construction: Proposed office <br /> developments which incorporate new construction of not less <br /> than 7,500 square feet, and which are to be located within <br /> the EBDA or TAIA, may be considered for a three-year real <br /> property tax abatement consideration. <br /> (2) Rehabilitation: Proposed rehabilitation of <br /> existing structures located within the EBDA or TAIA, and <br /> which propose not less than 5,000 square feet to be <br /> rehabilitated, may be considered for three-year real <br /> property tax abatement. <br /> (c) Six-Year General Standards: <br /> (1) New Construction: Proposed office <br /> developments which incorporate new construction of not less <br /> than 20, 000 square feet, and which are to be located within <br /> the EBDA, may be considered for three-year real property tax <br /> abatement. <br /> (2) Rehabilitation: Proposed rehabilitation of <br /> existing structures located within the EBDA and which <br /> propose not less than 10, 000 square feet to be <br /> rehabilitated, may be considered for six-year real property <br /> tax abatement. <br /> (d) Ten-Year General Standards: <br /> (1) New Construction: Proposed office <br /> developments which incorporate new construction of not less <br /> than 35, 000 square feet, and which are to be located within <br /> the EBDA, may be considered for ten-year real property tax <br /> abatement. <br /> (2) Rehabilitation: Proposed rehabilitation of <br /> existing structures located within the EBDA, and which <br /> propose rehabilitation of not less than 20,000 square feet, <br /> shall be considered for a ten-year real property tax <br /> abatement. <br /> (e) Compliance With State Law: All applicants seeking <br /> real property tax abatement consideration under this Section <br /> must also comply with all applicable regulations set forth <br /> in I.C. , 6-1.1-12 . 1-1 et seq. <br /> Sec. 2-78.2 Reserved. <br /> Division IV. Retail Development <br /> Real Property Tax Abatement. <br /> Sec. 2-79 Retail Developments in the Central Business <br />