Laserfiche WebLink
- FOR USE OF.THE bESIONATINt3 BODY• ' <br /> 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 <br /> under IC 8-1.1-12. 1 provides for the following limitations: <br /> A. The designated area has been limited to a period of time not to exceed -' calendar years'(see below). The date this designation <br /> expires is 113/2772026 <br /> B. The type of deduction that is allowed In the designated area is limited to: <br /> 1.Redevelopment or rehabilitation of real estate improvements 0 Yes 0 No <br /> 2.Residentially distressed areas ❑Yea 0 No <br /> C. The amount of the deduction applicable is limited to$ N/A <br /> D. Other limitations or conditions(speclty)_ N/A __ <br /> E. Number of years allowed: 0 Year 1 O Year 2 C,Year 3 IC Year 4 El Year 5 ("see below) 1 <br /> ❑Year 8 ID Year 7 Year 5 ❑Year 0 0 Year 10 <br /> F. For a statement of benefits approved after June 30,2013,did this designating body adopt an abatement schedule per IC 6-1.1-12.1-177 <br /> O Yea O No <br /> If yea,attach a copy of the abatement schedule to this form. <br /> If no,the designating body is required to establish an abatement schedule before the deduction can be determined. <br /> We have also reviewed the Information contained in the statement of benefits and find that the estimates and expectations are reasonable end have <br /> daterrnlned that the totality of benefits is sufficient to Justify the deduction described above. <br /> Approver(signature Ittlesulhosized member of deslgnii/ng body) Telephone number 1 Dale slined(month,day,year) <br /> (g.W)a34--&'4V 1lD/.e0-2� <br /> Prinllt\, <br /> a of flhod member of designating body Ns of dee pnean/p�ody /� <br /> f h I -17--(4 <br /> d (�Y �dlx•w4-s- IJ' ��!r�G��i✓i <br /> AN stud b (a•nrfure an. Ile els 4 / Prl . •name• e ter <br /> i <br /> ' <br /> I,, zi, i, ' dI /:.% i� a%/I/ /14.1 /.'., A/ //, 00 <br /> 'If the designs fi�'�•odyIm Te time•= od• ' hich an rea Is an e • omit revitalize Ion area,that limitation does not limit the length of time a <br /> taxpayer is anti ad 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. <br /> A. For restdenllaty distressed areas where the Form SB-1/Real Property was approved prior to July 1,2013,the deductions established In IC <br /> 6.1.1-12.1-4.1 remain In erect.The deduction period may not exceed five(5)years. For a Form SB-1/Real Property that Is approved after June 30, <br /> 2013,the designating body is required to establish an abatement schedule for each deduction allowed. The deduction period may not exceed ten <br /> (10)years. (See IC 6.1,1-12.1-17below.) <br /> B. For the redevelopment or rehabil talion of reel property where the Form SB-1/Real Property was approved prior to July 1,2013,the ebetement <br /> schedule approved by the designating body remains In effect.For a Form SB-1/Real Property that Is approved after June 30,2013,the designating <br /> body is required to establish an abatement schedule for each deduction allowed.(See IC 8-1.1-12.1-17beiow.) <br /> I <br /> IC 8-1.1-12.1-17 <br /> Abatement schedules <br /> Sec.17.(a)A designating body may provide toe business that is established in or relocated to a revitalization area and that receives a deduction under <br /> section 4 or 4.5 of this chapter an abatement schedule based on the following factors: <br /> (1) The total amount of the taxpayer's Investment In reel and personal property. <br /> (2) The number of new full-time equivalent Jobs created. <br /> (3) The average wage of the new employees compared to the state minimum wage. <br /> (4) The Infrastructure requirements for the taxpayer's investment. <br /> (b) This subsection applies to e statement of benefits approved after June 30,2013. A designating body shag establish an abatement schedule <br /> for each deduction allowed under this chapter. An abatement schedule must specify the percentage amount of the deduction for each year of <br /> the deduction. An abatement schedule may not exceed ten(10)years. <br /> (c) An abatement schedule approved for a particular taxpayer before July 1,2013,remains In affect until the abatement schedule expires under <br /> the terms of the resolution approving the taxpayers statement of benefits. <br /> Filed in Clerk's Office <br /> I Filed in Clerk's Office <br /> APR 0 a 2023 <br /> 1 MAR 2 1 202:1 <br /> DAWN M.JONES _ <br /> CITY CLERK.SOUTH BEND, IN DAWN ty; JONES <br /> CITY CLERK,SOCITITBEND,IN <br /> Page 2 of 2 <br />