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5047-23 Confirming Resolution for Property at 1901 N. Bendix Dr. 5 Yr. Personal Property Tax Abatement
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5047-23 Confirming Resolution for Property at 1901 N. Bendix Dr. 5 Yr. Personal Property Tax Abatement
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8/14/2023 12:07:19 PM
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8/1/2023 2:13:40 PM
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City Council - City Clerk
City Counci - Date
7/24/2023
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FOR USE OF THE DESIGNATING BODY <br /> We nave reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the general standards <br /> adopted in the resolution previously approved by this body. Said resolution, passed under IC 6-1.1-12.1-2.5, provides for the following limitations as <br /> authorized ur.der IC 6-1.1-12.1-2 <br /> A. The designated area has been limited to a period of time not to exceed N/A calendar years'(see below). The date this designation expires <br /> rs 12/31/2026 . NOTE This question addresses whether the resolution contains an expiration date for the designated area <br /> B.The type of deduction that is allowed in the designated area is limited to. <br /> 1 .Installation of new manufacturing equipment; IX Yes ❑No ❑ Enhanced Aoatement per IC 5-1.1-12 1-18 <br /> 2. Installation of new research and development equipment, ❑Yes ®N o Check box if en enhanced aoalement was <br /> 3. Installation of new logistical distribution equipment. ❑Yes No approved for one or more of these types. <br /> 4.Installation of new information technology equipment ❑Yes ®N o <br /> C.The amount of deduction applicable to new manufacturing equipment is limited to$ N/A cost with an assessed value of <br /> $ N/A . (One or both lines may be filled out to establish a limit.if desired) <br /> D.The amount of deduction applicable to new research and development equipment is limited to S N/A cost with an assessed value of <br /> $ N/A (One or both lines may be frlied out to establish a limit,if desired.) <br /> E The amount of deduction applicable to new logistical distribution equipment is limited to$ N/A cost with an assessed value of <br /> $ N/A <br /> (One or both lines may be titled out to establish a limit,if desired.) <br /> F. The amount of deduction applicable to new information technology equipment is limited to$ N/A cost with an assessed value of <br /> N/A . (One or both lines may be filled out to establish a limit,if-desired <br /> G. Other limitations or conditions(specify) N/A <br /> H. The deduction for new manufacturing equipment and/or new research and development equipment and/or new logistical distribution equipment and/or <br /> new information technology equipment installed and first claimed eligible for deduction is allowed for <br /> Year 1 ClEnhanced Abatement per IC 6-t.1-12.1-18 <br /> ❑ ❑ Year 2 ❑ Year 3 ❑ Year 4 ® Year 5 <br /> Number of years approved. <br /> ❑ Year 6 ❑ Year 7 Cl Year 8 Cl Year 9 ❑ Year 10 (Enter one to twenty(1-20)years;may not <br /> exceed twenty(20)years) <br /> I. For a Statement of Benefits approved after Ji me 30.2013,did this designating body adopt an abatement schedule per IC 6-1,1-12.1-17? 11Yes ❑No <br /> If yes,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 /> Also we nave reviewed 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 described above. <br /> Apt o, by:(signature arid tale ora zed in oer ofdesignaing body) Telephone number Date si ed nt.day r) <br /> Print. ._.f out oozed member d ibody Name of designating body 7 <br /> C n r9 N Common Council of the City of South Bend,IN <br /> :.tested xy 1 =tune and Pilo o arrester) Pn name or atter <br /> if th •-signating body limits M. tin'. period dun ch an area is an economic revitalization area that Imitation does not limit the length of time a <br /> 1 taxpayer is entitled to receive a• duction to a number of years that is less than the number of years designated under IC 6-1.1-12.1-17. <br /> IC 6-1.1.12.1.17 <br /> Abatement schedules <br /> Seo.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 art abatement schedule based on the following factors: <br /> (1) The total amount of the taxpayer's 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 requirements for the taxpayers investment. <br /> Ib)1 his subsecttor 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 the <br /> deduction.Except as provided in IC 6-1.?-12.1-18,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 abatein t schedule mires unc er <br /> the terms of the resolution approving the taxpayer's statement of benefits. Filed In Clerk's Office <br /> JUL-AWJOI4Es <br /> U 5 2023 <br /> Page 2 of 2 <br /> CIN CLE KN SOUTH BEND,IN <br />
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