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07-28-08 Council Meeting Agenda & Packet
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07-28-08 Council Meeting Agenda & Packet
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10/4/2010 3:01:16 PM
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7/24/2008 4:35:50 PM
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
7/28/2008
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We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the <br />general standards adopted in the resolution previously approved by this body. Said resolution, passed under IC 6-1.1-12.1-2.5, pro- <br />vides for the following limitations as authorized under IG 6-1.1-12.1-2. <br />A. The designated area has been limited to a period of time not to exceed calendar years' (see below). The date this <br />designation expires is <br />B. The type of deduction that is allowed in the designated area is limited to: <br />1. Installation of new manufacturing equipment; ^ Yes ^ No <br />2. Installation of new research and development equipment; ^ Yes ^ No <br />3. Installation of new logistical distribution equipment. ^ Yes ^ No <br />4. Installation of new information technology equipment; ^ Yes ^ No <br />C. The amount of deduction applicable to new manufacturing equipment is limited to $ cost with an assessed <br />value of $ <br />D. The amount of deduction applicable to new research and development equipment is limited to $ cost with <br />an assessed value of $ <br />E. The amount of deduction applicable to new logistical distribution equipment is limited to $ cost with an <br />assessed value of $ <br />F. The amount of deduction applicable to new information technology equipment is limited to $ cost with an <br />assessed value of $ <br />G. Other limitations or conditions (specify) <br />H. The deduction for new manufacturing equipment and/or new research and development equipment and/or new logistical distribution <br />equipment and/or new information technology equipment installed and first claimed eligible for deduction on or after July 1, 2000 is <br />allowed <br />for: <br />^ 1 year ^ 6 years For ERA's established prior to July 1, 2000, only a <br />^ 2 years ^ 7 years 5 or 10 year schedule may be deducted. <br />^ 3 years ^ 8 years <br />^ 4 years ^ 9 years <br />^ 5 years " ^ 10 years " <br />Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable <br />and have determined that the totality of benefits is sufficient to justify the deduction described above. <br />Approved: (signature and title of authorized member) Telephone number <br />( } Date signed (month, day, year) <br />Attested by: Designated body <br />' If the designating body limits the time period during which an area is an economic revitalization area, it does not limit the length of <br />time a taxpayer is entitled to receive a deduction to a number of years designated under IC 6-1.i-12.1-4.5. <br />INDS01 LJS 694033v2 <br />
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