Laserfiche WebLink
FOR USE OF THE DESIGNATING BODY <br />We find that the appricanl 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 61.1-12-1, provrdes lot the fallowing !Imitations: <br />A. The designated area has been limited to a period of time not to exceed <br />N/A calendar years' (see below). The date this designation <br />expire', is 12/3112025 NOTE This question addresses whether the rasolu6on contains an explrsdon date for the de"nsfed area. <br />B. The type of deduction that Is allowed In the designated area is IUnited to: <br />1. Redevelopment or rehabilitation of real estate improvements []Yes ®No <br />2. Residentially distressed areas xQYes C] No <br />C. The amount of the deduction applicable is limited b $ <br />NSA <br />D. Other limltatlons or conditions (mealy) N/A <br />E. Number of years allowed: Year 1 [ Year 2 Year 3 Yaar 4 ® Year 5 (' see batow) <br />Year 6 Year 7 Year 8 Year 9 Year 10 <br />F. For a statement of benefits approved after June 30, 2013, did this designating body adopt an abatement schedule per IC 61.1.12.1-177 <br />C9 Yes No <br />If yes, attach a copy of the abatement schedule to this form. <br />If no, the designating body is required to estabfish an abatement schedule before the deduction can be determined. <br />We have also revievrad the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have <br />determined that the totality of benefits Is sufficient to justify the deduction descrWed above, <br />Approved (aigrdfum end risco of authori2ed membor o/ do4na:rng body) i0oOronv number I Dew signed frn", day, yebr) <br />fl <br />Printed nems of a ftdzod member of designating body Name of designating body <br />ACesled by (sfgna1m and We or eresler) Ponlod name of allester <br />if the designating body limits the time period during which an area is an economic ravitaf Ation area, that limitation does not limit the length of time a <br />taxpayer is ontiled to receive a deduction to a number of years that is less than the number of years designated under IC 61.1-12.1-1T. <br />A. For residentially distressed areas where the Form SIB -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 effect 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 estati4sn an abatement schedule for each deduction allowed. Except as provided in IC 6 1.1-12.1-18, the <br />deduction podod may not axceed ton (10) years. (Seo IC 5-1. <br />1-12.1.17 below.) <br />B For the redevelopment or rehabilitation of roar property where the Form SB-1/Real Property was approved prior to July 1, 2013, the abatemem <br />schedule approved by the designating body remains in effect. For a Four SBA/Real Property that is approved after June 30, 2013, the designating <br />body is required to astablish an abatement schedule for each deduction allowed. (See tC 6-1.1-12.1-17 below) <br />IC 6-1.1-12.1-17 <br />Abatement schedule& <br />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 <br />section 4 or 4.5 of this chapter an abatement schedule based on. the following factors: <br />1) The total amount of the taxpayers investment In real 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 requlrements for the taxpayer's Investment. <br />b) This subsection applies to a statement of benefits approved after June 30, 2013. A designating body shall 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. Except as provided In IC 61.1-12.1-16, 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 effect until the abatement schedule expires under <br />the terms of the resolution approving the taxpayer's stalement of benefits. <br />Filed in Clerk's Office <br />I <br />I <br />APR 1 [u <br />DAWN M. JUNES <br />CITY CLERK, SOUTH BEND, IN <br />Page 2 of 2