Amending Chapter 2 Entitled Tax Abatement

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(10) a statement verifying that the project would not occur within the City without tax abatement; and (11) a statement indicating the number of new permanent jobs which will be created by the project. SEC. 2 -77. Referral of Petition /Adoption of Declaratory Resolution. (a) Upon the filing of a petition pursuant to Section 2- 76(a), the same shall be referred to the Redevelopment Commission for purposes of investigation and preparation of a report determining whether the area qualifies as an Urban Development Area under Indiana Code 6- 1.1- 12.1 -1, and the preparation of such other information as contained in Indiana Code 18- 7 -7 -12. Within thirty (30) days, the Redevelopment Commission shall submit the report of its investigation and finding to the Human Resources and Economic Development Committee of the Common Council for review and recommendation to the Common Council. (b) The Human Resources and Economic Development Committee of the Council, after examination and review of said report,shall submit its recommendation to the Common Council as to whether the area qualifies as an Urban Development Area under Indiana Code 6 -1.1- 12.1 -1. The Council upon accepting the report and recommendation of the Committee recommending designation of the area as an Urban Development Area may adopt a declaratory resolution including the general boundaries of the area to be designated an urban development area. Upon adoption of the declaratory resolution by the Council, said resolution, together with supporting data, shall be submitted to the Area Plan Commission. Within thirty (30) days the Area Plan Commission shall send its written order approving or disapproving the declaratory resolution•to the Council. (c) Upon receipt of the report of the Area Plan Commission, the City Clerk shall cause notice of the adoption of the declaratory resolution to be published pursuant to Indiana Code 18- 7 -7 -14 said publication providing notice of the public hearing before the Council to be held not less than ten (10) days after the date of such last publication. (d) At the public hearing on the declaratory resolution, the Council will hear remonstrances and objections from persons interested in or affected by the proceedings pertaining to the proposed project and the Council will determine the public utility and benefit of the project. In making such determinations, the Council will consider the following criteria: 1. Whether the project can take place without the added incentive of tax abatement. 2. Whether the project is to occur upon underutilized or bypassed land, or 3. Whether the project will provide new permanent jobs, or 4. Whether there will be an expansion of the property tax base, or 5. Whether rehabilitation, if contemplated, will replace or improve obsolete or deteriorated structure(s), or 6. Whether there is compliance with the statutory "undesirable for normal development" criterion. (e) Any project on which the Common Council has adopted a declaratory resolution designating it as a tax abatement area which does not receive a building permit within one (1) year of the adoption of said resolution shall be null and void. -2-