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FOR USE OF THE DESIGNATING BODY <br />We find that the applicant meets the general standards in the resolution adopted <br />under IC 6-1.1-12.1, provides for the following limitations: <br />A. The designated area has been limited to a period of time not to exceed <br />expires is I2/3 1 /2027 . NOTE: This question addresses <br />or to be adopted by this body. Said <br />N/A calendar years` (see below). <br />resolution, passed or to be passed <br />The date this designation <br />date for the designated area. <br />whether the resolution contains an expiration <br />to: <br />11 Yes ■ No <br />IN Yes 1.1 No <br />B. The type of deduction that is allowed in the designated area is limited <br />1. Redevelopment or rehabilitation of real estate improvements <br />2. Residentially distressed areas <br />N/A <br />C. The amount of the deduction applicable is limited to $ <br />N/A <br />D. Other limitations or conditions (specify) <br />E. Number of years allowed: ■ Year 1 • Year 2 Ei Year 3 • Year 4 ■ Year 5 (` see below) <br />1.1 Year 6 0 Year 7 • Year 8 ■ Year 9 D Year 10 <br />F. For a statement of benefits approved after June 30, 2013, did this designating body adopt an abatement schedule per IC 6-1.1-12.1-17? <br />►i/ Yes ■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 />We have also 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 />Ap ve (signature and title of uthorize4 member of designating body) <br />�°y`_ ! ( <br />Telephone number <br />(S1td) Z35-9321 <br />Date signed (month, day, year) <br />07-23-Zo2H <br />Print d n e of authorized me ber.pf designating body <br />Sk k r p a ei tide <br />Name of designating body <br />Common Council of the City of South Bend, Indiana <br />Attested by (signature d ' e of attester) <br />- Dcp41 Goy Clerk. <br />Printed name of attester <br />Me4414e,—, Neal <br />` If the designating body limits the time period during which an area is an economic revitalization area, that limitation does not limit the length of time a <br />taxpayer is entitled 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 residentially 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 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 establish an abatement schedule for each deduction allowed. Except as provided in IC 6-1.1-12.1-18, the <br />deduction period may not exceed ten (10) years. (See IC 6-1.1-12.1-17 below.) <br />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 <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 6-1.1-12.1-17 below.) <br />IC 6-1.1-12.1-17 <br />Abatement schedules <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 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 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 6-1.1-12.1-18, 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 abatement schedule expires under <br />the terms of the resolution approving the taxpayers statement of benefits. <br />Page 2 of 2 <br />