Amending Chapter 2 Indiana Entitled Tax Abatement Procedures

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SECTION 2 -77. REVIEW OF PETITIONS (a) Upon the filing of a completed petition, it shall be referred to the Department of Economic Development Lor the purpose of investigation and preparation of a report determining whether the area qualifies as as economic re- vitalization area pursuant to I.C. 6- 1.1- 12.1 -1 and whether all zoning requirements have been met. The Staff shall submit its written report of its investigation and findings to the Human Resouces and Economic Development Committee of the Common Council within fifteen (15) working days. (b) The Human Resources and Economic Development Committee, after examination, review and hearing shall submit its recommendation to the Common Council as to whether the area qualifies as an economic revitalization area. The Council may adopt a declaratory resolution including the general boundaries of the area by describing its location in relation to public ways, to be designated an economic revitalization area. Upon adoption of the declaratory resolution, it shall be filed with the County Assessor by the City Clerk together with supporting data required by I.C. 6 -1.1- 12.1 -2.5. (c) The City Clerk shall cause notice of the adoption of the declaratory resolution to be published pursuant to I.C. 5 -3 -1, which shall include a description of the affected area and that all documents are available for inspection in the County Assessor's office. (d) Following the required legal publication, a public hearing on the declaratory resolution shall be held with the Council hearing any remonstrances and objections pertaining to the proposed project. At the public hearing, the Council shall: 1. Determine the public properties to be considered revitalization area; or 2. Determine the public properties to be considered economic revitalization are to the following criteria: utility and benefit of those which are within the economic utility and benefit of those that are not within the designated as in accordance with but not limited a. For real property tax abatement petitions whether there is compliance with the statutory growth, and undesirable for normal development criteria; b. For tangible personal property tax abatement petitions whether there is compliance with the statutory technological, economical, or energy obsolescence criteria; C. Whether the specific project will result in main- taining or increasing permanent jobs within the community; d. Whether there will be a net expansion of the assessed evaluation of real or personal property within the commnunity; e. Whether there is compliance with this ordinance and all applicable state laws. (e) Any project on which the Common Council has adopted a declaratory resolution designating it as an economic revitalization area which does not receive a building permit, and /or complete the acquisition of new manufacturing equipment as defined by State law, within one (1) year of the specific adoption of the declaratory resolution shall be determined to be null and void. (f) Economic revitalization area designations granted as a result of petitions for real property tax abatement shall expire so that new improvements in the urban economic revitalization area are eligible for tax abatement only if said new improvements are substantially completed and certified for occupancy within a three (3) year period commencing with the effective date of the declaratory resolution. =10