Bill No. 23-19 Res. Tax Abatement 724 & 726 Harrison

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FOR -USE OF :•D 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 IC &1, 1-12,1, provides for the following limitations: A. The designated area has been limited to a period of brne not to exceed calendar years' (see be/ow), The date the designation expires is . NOTE: This question addresses whoVwr the reso/uLon coniairis an expiration data for the des/gnated area. B. The type of deduction that is allowed in the designated area is linked to: 1. Redeve?opmenl cr rehaUitauon of real estate improvements [I Yes No 2. Rosidentatly distressed areas Yes []No C. The amount of the deduction applicable is limited to $ D. Otter limitations or conditions !spe(;14) E. Number of years allowed: Year 1 Year 2 Year 3 Year 4 Year 5 (' see below) Year 6 Year 7 Year B Year 9 Year 10 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 Yes tic 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 benefits Is sufficient to Juslify the deduction described above. Approved (S+gna'ura and bHa arautr)orhed mxnb•: ordasvriour:g body) Tolephono nun5bor i, a,,r slgneC `rr•y,U, c'ei. year, Prfntod nerve of auth"zud momber of designating body Name of def miming body AMMad by IsvrwNrA4r4M!* of a.:ex" Primed name of etlester If the designating body limits the lime 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 than the nxenber of years designated under IC X1.1 12.1 1T. A- For residentially distressed areas where the Form SB -1 Meal Property was approved prior to July 1, 2013, the deductions established in IC 6-1.11.12.1-4.1 remain in effect. The deduction period may not exceed five (5) years. For a Form SS-1tReal Property that is approved after June 30, 2013, the designating body Is required to establish an abatement schedule for each deduction allowed. Except as provided In IC 6 1.1-112.1-18, tete deduction period may not exceed ten (10) years. (See IC &11.11-112A-117 below.) B. For the 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 designaling body remains in effect. For a Form SS-1/Real Property that Is approved after June 30, 2013, the designaling body is required to establish an abatement schedule for each deduction allowed. (See IC 6-1. 1-12.1-17 below.) IC 6-1.142.1.17 Abatement schedules Sec. 17. (a) A designating body may provide to a business that Is established 1n 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 factnrs: 1) The total amount of the taxpayer's investment in real and per ->anal property. 2) The number of now full-time equivalent fobs created. 3) The averaga wage of the now employees compared to the state minimum wage, 4) The infrastructure requirements for the taxpayers investment b) This subsection applies to a statement of benefits approved after June 30, 2013. Adeslgnatng body shelf establish an abatement schedule for each deduction allowed under this chapter. An abatement schedule muss specify the percentage amcunt of the deduction for each year of the deduction. Except as provided in IC 6-1.1-12.1-18, an abatement schedule may not exceed tell (10) years. c) An abatement schedule approved for a particular taxpayer before July 1. 2013, remains In effect until the abatement schedule expires under the terms of the resolution approving the taxpayers statement of benefits. l` C erk's p ce 3C?0e r Rk S .U y S Page 2 of 2