HomeMy WebLinkAbout5144-25 Amending and Reconfirming Resolution - Real Property Tax Abatement for 505 South Michigan Street United States of America
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AUDITOR
St JOSEPH COUNTY '1.3 F.. JOSEPH COUNTY
ASSESSOR
2025-26502
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RECORDED AS PRESENTED ON
ertl icate 10/17/2025 09:32 AM
CANDACE S.BROWN
ST.JOSEPH COUNTY
RECORDER
PGS:9 FEES:25.00
STATE OF INDIANA, COUNTY OF ST. JOSEPH, ss:
I, Bianca L. Tirado, Clerk of the City of South Bend, County of St. Joseph, Indiana, hereby
certify that the attached and foregoing is a full, true, and correct copy of
RESOLUTION NO. 5144-25
A RESOLUTION AMENDING DECLARATORY RESOLUTION NO. 4972-
22 AND MODIFYING AND RECONFIRMING THE ADOPTION OF
DECLARATORY RESOLUTION NO. 4972-22 DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY
KNOWN AS 505 SOUTH MICHIGAN STREET, SOUTH BEND, INDIANA
46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN
EIGHT-YEAR (8) MIXED-USE DEVELOPMENT REAL PROPERTY TAX
ABATEMENT FOR THE MONREAUX LLC
ADOPTED BY THE COMMON COUNCIL OF THE CITY OF SOUTH
BEND, INDIANA, OCTOBER, 13, 2025
PRESENTED TO, APPROVED AND SIGNED BY MAYOR JAMES
MUELLER, OCTOBER, 16, 2025
ATTEST: CANNETH LEE, PRESIDENT OF THE COMMON COUNCIL
ATTEST: BIANCA L. TIRADO, CITY CLERK
the original of which is now on file in the office of the Clerk of the City of South Bend, St. Joseph
County, Indiana
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official Seal of the City
of South Bend, St. Joseph County, Indiana, this /0'6 day of 0c746er. 20 ZS .
sOUTx '.. Bianca L. Tirado
- :1 i�^�;���i,� 4 Clerk of the City of South Bend
ti � ":a;�C�.\. 4 St. Joseph County, Indiana
Oj` � �. e %f x
t. 1 .. 3 .„ )b 1 By:
`._ti` �� Deputy City Clerk
.R :.,1865 `
RESOLUTION No . 5144-25
Passed by the Common Council of the City of South Bend, Indiana
October 13, 25
20
Attest: 47----- City Clerk
Bianca L. Tirado
Attest: ; i President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
October 14, 20 25
/C\
City Clerk
Bianca L. Tirado
Approved and signed by me D C'fl 7 1 G 20 25
)7 .1111"•----- Mayor
‘41'SOUTH�rt\
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SUBSTITUTE BILL NO. 25-39
RESOLUTION NO. 5144-25
A RESOLUTION AMENDING DECLARATORY RESOLUTION NO. 4972-22
AND MODIFYING AND RECONFIRMING THE ADOPTION OF
DECLARATORY RESOLUTION NO. 4972-22 DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY
KNOWN AS
505 South Michigan Street, South Bend, Indiana 46601
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN
EIGHT-YEAR (8) MIXED-USE DEVELOPMENT REAL PROPERTY TAX
ABATEMENT FOR
The Monreaux LLC
WHEREAS, on July 20, 2022, the Department of Community Investment filed with the
Office of the City Clerk a Declaratory Resolution for Real Property Tax Abatement and a
Confirming Resolution for Real Property Tax Abatement for consideration by the Common
Council of the City of South Bend, Indiana, to designate certain areas within the City as an
Economic Revitalization Areas for the purpose of tax abatement; and
WHEREAS, the Meeting Agenda for the August 8, 2022, Common Council Meeting
included Bill No. 22-38 with the title, "A RESOLUTION OF THE COMMON COUNCIL OF
THE CITY OF SOUTH BEND, INDIANA, DESIGNATING A TAX ABATEMENT FOR
CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY
KNOWN AS 505 S MICHIGAN ST., SOUTH BEND, IN 46601 AS AN ECONOMIC
REVITALIZATION AREA FOR PURPOSES OF AN EIGHT (8) YEAR MIXED-USE REAL
PROPERTY TAX ABATEMENT FOR THE MONREAUX, LLC;"and
WHEREAS, on August 8, 2022, the Common Council considered Bill No. 22-38 as a
Declaratory Resolution for Real Property Tax Abatement that designated the area commonly
known as 505 S. Michigan Street, South Bend, Indiana, and which is more particularly described
as follows:
(1) 132 Ft E End Lot 19Martins Add
(2)N 44' Lot 20 Martins Add
(3) S 1- 3 Lot 20 Martins Add
(4) Lot 21 & N 1/2 Vac Alley S & Adj Martins Add
and which has Key Numbers 71-08-12-306-010.000-026, 71-08-12-306-011.000-026, 71-08-12-
306-012.000-026, and 71-08-12-306-013.000-026 as an Economic Revitalization Area under the
provisions of Indiana Code 6-1.1-12.1 et seq., and South Bend Municipal Code Sections 2-76 et
seq.; and
WHEREAS, the Common Council further considered Bill No. 22-38 as a Declaratory
Resolution for Real Property Tax Abatement that established that the Economic Revitalization
Area shall be limited to three(3) calendar years from the date of the adoption of Bill No. 22-38 by
the Common Council; and
WHEREAS, the Common Council further considered Bill No. 22-38 as a Declaratory
Resolution for Real Property Tax Abatement that asserts that the Common Council determines
that the property owner is qualified for and is granted property tax deduction for a period of eight
(8) years as shown by the schedule outlined below pursuant to Indiana Code 6-1.1-12.1-17.
Year 1 - 100%
Year 2 - 95%
Year 3 - 90%
Year 4 - 85%
Year 5 - 80%
Year 6 - 75%
Year? - 70%
Year 8 - 65%
WHEREAS, the Common Council further considered Bill No. 22-38 as a Declaratory
Resolution for Real Property Tax Abatement that directs the City Clerk to cause notice of the
adoption of Bill No. 22-38 as a Declaratory Resolution for Real Property Tax Abatement to be
published pursuant to Indiana Code 5-3-1 and Indiana Code 6-1.1-12.1-2.5, said publication
providing notice of the public hearing before the Common Council on the proposed confirming of
said declaration; and
WHEREAS,on August 8,2022,the Community Investment Committee debated the merits
of Bill No. 22-38 as a Declaratory Resolution for Real Property Tax Abatement, held a public
hearing for the bill,and reported the bill to the Common Council with a favorable recommendation;
and
WHEREAS, the minutes of the Community Investment Committee meeting held on
August 8, 2022,provide that the Community Investment Committee considered Bill No. 22-38 as
a"Resolution Designating Tax Abatement for 505 S. Michigan St., South Bend, Indiana;" and
WHEREAS, on August 8, 2022, the Common Council debated the merits of Bill No. 22-
38 as a Declaratory Resolution for Real Property Tax Abatement,held a public hearing for the bill,
and voted in favor of adopting Bill No. 22-38; and
WHEREAS,the minutes of the Common Council meeting held on August 8,2022,provide
that the Common Council considered Bill No. 22-38 with the title, "A RESOLUTION OF THE
COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, DESIGNATING A TAX
ABATEMENT FOR CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA,
COMMONLY KNOWN AS 505 S MICHIGAN ST., SOUTH BEND, IN 46601 AS AN
ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN EIGHT (8)YEAR MIXED-
USE REAL PROPERTY TAX ABATEMENT FOR THE MONREAUX, LLC;" and
WHEREAS, Bill No. 22-38 was passed by a vote of eight (8) ayes and zero (0)nays; and
WHEREAS, upon adoption by the Common Council on August 8, 2022, Bill No. 22-38
was filed as Declaratory Resolution No. 4972-22; and
WHEREAS, upon proper notice, a public hearing was held, after which the Common
Council issued Confirming Resolution No. 4975-22 on August 22, 2022, confirming the adoption
of Declaratory Resolution No. 4972-22; and
WHEREAS, through the adoption of Declaratory Resolution No. 4792-22on August 8,
2022, and the adoption of Confirming Resolution No. 4975-22 on August 22, 2022, the Common
Council intended to grant The Monreaux LLC, an Indiana Limited Liability Company, an eight-
year(8) mixed-use real property tax abatement; and
WHEREAS,through the adoption of Declaratory Resolution No.4792-22 and the adoption
of Confirming Resolution No. 4975-22, the Common Council intended to grant The Monreaux
LLC a three-year(3) designation period, which would have expired on August 8, 2025; and
WHEREAS, the Common Council now desires to amend Declaratory Resolution No.
4792-22 to match the form of Declaratory Resolution filed by the Department of Community
Investment on July 20, 2022, to ensure that The Monreaux LLC receives the benefits of the real
property tax abatement as the Common Council intended; and
WHEREAS,the Common Council further desires to modify and reconfirm the adoption of
Declaratory Resolution No. 4972-22, as amended by this Resolution, designating certain areas an
Economic Revitalization Area for purposes of an eight-year (8) mixed-use real property tax
abatement; and
WHEREAS, completion of the project by end of the original designation period as the
Common Council intended through the adoption of Declaratory Resolution No.4972-22 on August
8, 2022, and the adoption of Confirming Resolution No. 4975-22 on August 22, 2022, was not
possible; and
WHEREAS, The Monreaux LLC has requested to extend the designation period that the
Common Council intended to confirm through the adoption of Confirming Resolution No. 4975-
22; and
WHEREAS, the Common Council further desires to reconfirm the designation of certain
areas designated by Declaratory Resolution No. 4972-22, as amended by this Resolution, and
confirmed by Confirming Resolution No. 4975-22 as an Economic Revitalization Area for
purposes of an eight-year(8)mixed-use development real property tax abatement; and
WHEREAS, the Common Council further desires to extend the designation period
confirmed by Confirming Resolution No. 4975-22; and
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South
Bend, Indiana, as follows:
SECTION I. The Common Council hereby amends Resolution No. 4972-22 to read in its entirety
as follows:
"WHEREAS,a petition for real property tax abatement consideration has been filed
with the City Clerk for consideration by the Common Council of the City of South Bend,
Indiana,requesting that the area located at 505 S. Michigan Street, South Bend, IN, which
is more particularly described as:
(1) 132 Ft E End Lot 19Martins Add
(2) N 44' Lot 20 Martins Add
(3) S 1- 3 Lot 20 Martins Add
(4) Lot 21 &N 1/2 Vac Alley S & Adj Martins Add
and which has Key Numbers 71-08-12-306-010.000-026, 71-08-12-306-011.000-026, 71-
08-12-306-012.000-026, and 71-08-12-306-013.000-026 be designated as an Economic
Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et seq. and South Bend
Municipal Code Sections 2-76 et seq.; and"
"WHEREAS, the petitioner has agreed to and has accepted responsibility to report
any changes in the Key Numbers and legal descriptions to the Department of Community
Investment and to the Office of the City Clerk; and"
"WHEREAS, the Department of Community Investment has concluded an
investigation and prepared a report with information sufficient for the Common Council to
determine that the area qualifies as an Economic Revitalization Area under Indiana Code
6-1.1-12.1 et seq. and South Bend Municipal Code Sections 2-76 et seq., and has further
prepared maps and plats showing the boundaries and such other information regarding the
area in question as required by law; and"
"WHEREAS, the Community Investment Committee of the Common Council has
reviewed said report and recommended to the Common Council that the area qualifies as
an Economic Revitalization Area."
"NOW,THEREFORE, BE IT RESOLVED by the Common Council of the City of
South Bend, Indiana, as follows:"
"SECTION I. The Common Council hereby determines and finds that the Petition for Real
Property Tax Abatement and the Statement of Benefits form completed by the Petitioner
meet the requirements of Indiana Code 6-1.1-12.1 et seq. for tax abatement."
"SECTION II. The Common Council hereby determines and finds the following:
A. That the description of the proposed redevelopment or rehabilitation meets
the applicable standards for such development;
B. That the estimate of the value of the redevelopment or rehabilitation is
reasonable for projects of this nature;
C. That the estimate of the number of individuals who will be employed or
whose employment will be retained by the Petitioner can reasonably be expected to result
from the proposed described redevelopment or rehabilitation;
D. That the estimate of the annual salaries of those individuals who will be
employed or whose employment will be retained by the Petitioner can be reasonably
expected to result from the proposed redevelopment or rehabilitation;
E. That the other benefits about which information was requested are benefits
that can be reasonably expected to result from the proposed described redevelopment or
rehabilitation; and
F. That the totality of benefits is sufficient to justify the requested deduction,
all of which satisfy the requirements of Indiana Code 6-1.1-12.1-3."
"SECTION III. The Common Council hereby determines and finds that the proposed
described redevelopment or rehabilitation can be reasonably expected to yield benefits
identified in the Statement of Benefits, Sections 1 through 3 of the Petition for Real
Property Tax Abatement Consideration and the Memorandum of Agreement between the
Petitioner and the City of South Bend, and that the Statement of Benefits form completed
by the petitioner, said form being prescribed by the State Board of Accounts, is sufficient
to justify the deduction granted under Indiana Code 6-1.1-12.1-3."
"SECTION IV. The Common Council hereby accepts the report and recommendation of
the Community Investment Committee that the area herein described be designated as an
Economic Revitalization Area and hereby adopts a Resolution designating the area as an
Economic Revitalization Area for purposes of real property tax abatement."
"SECTION V. The designation as an Economic Revitalization Area shall be limited to
three (3) calendar years from the date of the adoption of this Resolution by the Common
Council."
"SECTION VI. The Common Council hereby determines that the property owner is
qualified for and is granted property tax deduction for a period of eight(8) years as shown
by the schedule outlined below as well as the attachment pursuant to Indiana Code 6-1.1-
12.1-17.
Year 1 - 100%
Year 2 - 95%
Year 3 - 90%
Year 4 - 85%
Year 5 - 80%
Year 6 - 75%
Year 7 - 70%
Year 8 - 65%"
"SECTION VII. The Common Council directs the City Clerk to cause notice of the
adoption of this Declaratory Resolution for Real Property Tax Abatement to be published
pursuant to Indiana Code 5-3-1 and Indiana Code 6-1.1-12.1-2.5, said publication
providing notice of the public hearing before the Common Council on the proposed
confirming of said declaration."
"SECTION VIII. This Resolution shall be in full force and effect from and after its
adoption by the Common Council and approval by the Mayor."
SECTION II. The Common Council hereby reconfirms Declaratory Resolution No. 4972-22, as
amended by this Resolution, and Confirming Resolution No. 4975-22 for purposes of an eight-
year(8)mixed-use development real property tax abatement.
SECTION III. The designation as an Economic Revitalization Area for purposes of an eight-year
(8) mixed-use development real property tax abatement expires on December 31, 2028.
SECTION IV. The Common Council hereby determines that the Petitioner is qualified and is
granted property tax deduction for a period of eight(8)years as shown in Section VI of Declaratory
Resolution No. 4972-22, as amended by this Resolution, and further determines that the petition,
the Statement of Benefits,and the Memorandum of Agreement between the Petitioner and the City
of South Bend comply with Chapter 2, Article 6,of the Municipal Code of the City of South Bend
and Indiana Code 6-1.1-12 et seq.
SECTION V. This Resolution shall be in full force and effect from and after its adoption by the
Common Council and approved by the Mayor.
2- )--------
Canneth J. L e, Council President
South Bend Common Council
Attest:
AktWfr
Bianca L. Tirado, City Clerk
Office of the City Clerk
Presented by me, the undersigned Clerk of the City of South Bend, to the Mayor of the
City of South Bend, Indiana on the 14th day of October ,2025, at 12 o'clock p.m.
fitkaitAit/4
Bianca L. Tirado, City Cler
Office of the City Clerk
N
Approved and signed by me on the `6 day of 004 I' , 2025, at I o'clock
.m.
114/1
Jam s Mueller, Mayor
City of South Bend, Indiana
"'"• STATEMENT OF BENEFITS 2025 PAY2026
ihwq REAL ESTATE IMPROVEMENTS FORM SB-1 I Real Property
State Form 51767(R7/1-21)
a.: Prescribed by the Department of Local Government Finance PRIVACY NOTICE
This statement is being completed for real property that qualifies under the following Indiana Code(check one box): Any information concerning the cost
of the property and specific salaries
E Redevelopment or rehabilitation of real estate improvements(IC 6-1.1-12.1-4) paid to individual employees by the
❑ Residentially distressed area(IC 6-1.1-12.1-4.1) property owner is confidential per
IC 6-1.1-12.1-5.1.
INSTRUCTIONS:
1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body requires
information from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise,this statement must be
submitted to the designating body,BEFORE the redevelopment or rehabilitation of real property for which the person wishes to claim a deduction.
2. The statement of benefits form must be submitted to the designating body and the area designated an economic revitalization area before the initiation of
the redevelopment or rehabilitation for which the person desires to claim a deduction.
3. To obtain a deduction,a Form 322/RE must be filed with the county auditor before May 10 in the year in which the addition to assessed valuation is
made or not later than thirty(30)days after the assessment notice is mailed to the property owner if it was mailed after April 10. A property owner who
failed to file a deduction application within the prescribed deadline may file an application between January 1 and May 10 of a subsequent year.
4. A property owner who files for the deduction must provide the county auditor and designating body with a Form CF-1/Real Property. The Form CF-1/Real
Property should be attached to the Form 322/RE when the deduction is first claimed and then updated annually for each year the deduction is applicable.
IC 6-1.1-12.1-5.1(b)
5. For a Form SB-1/Real Property that is approved after June 30, 2013, the designating body is required to establish an abatement schedule for each
deduction allowed. For a Form SB-1/Real Property that is approved prior to July 1, 2013, the abatement schedule approved by the designating body
remains in effect. IC 6-1.1-12.1-17
SECTION 1 TAXPAYER INFORMATION
Name of taxpayer The Monreaux LLC
Address of taxpayer
NumberandStreet: 1335 Pyle Avenue City: South Bend State: IN ZIP. 46615
Name of contact person Telephone number E-mail address
First Name: Devereaux Last Name. Peters (773)484-8430 devereauxpeters14@gmail.com
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT
Name of designating body Resolution number
Common Council of the City of South Bend 514 -25
Location of property Number and Street City State ZIP County DLGF taxing district number
505 S. Michigan Street South Bend IN 46601 St. Joseph 026(South Bend-Portage)
Description of real property improvements,redevelopment,or rehabilitation(use additional sheets if necessary) Estimated start date(month,day,year)
Construction of an affordable mixed-use building(4 stones,approx.56,000 sq ft)consisting of approx.57 10/20/2025
apartment units and other mixed-use space.Project will cover parcel numbers 71-08-12-306-010.000-026, Estimated completion date(month,day year)
71-08-12-306-011.000-026,71-08-12-306-012.000-026,and 71-08-12-306-013.000-026 12/31/2026
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT
Current Number Salaries Number Retained Salanes Number Additional Salaries
0 $0 0 $0 8 $266,240
SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT
REAL ESTATE IMPROVEMENTS
COST ASSESSED VALUE
Current values $o $o
Plus estimated values of proposed project $14,000,000 $4,075,360
Less values of any property being replaced $o $0
Net estimated values upon completion of project $14,000,000 $4,075,360
SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER
Estimated solid waste converted(pounds) Estimated hazardous waste converted(pounds)
Other benefits
45 of the 57 apartments will be affordable to low-income person and families.
SECTION 6 TAXPAYER CERTIFICATION
I hereby certify that the representations in this statement are true.
Signature of authorized representative ^ Date signed(month,day,year)
Oct 13,2025
Printed name of authorized representative Title
Devereaux Peters sole member of managing member
Page 1 of 2
FOR USE OF THE DESIGNATING BODY
We find that the applicant meets the general standards in the resolution adopted or to be adopted by this body. Said resolution,passed or to be passed
under IC 6-1.1-12.1,provides for the following limitations:
A. The designated area has been limited to a period of time not to exceed n/a calendar years*(see below). The date this designation
expires is 12/31/2028 . NOTE:This question addresses whether the resolution contains an expiration date for the designated area.
B. The type of deduction that is allowed in the designated area is limited to:
1.Redevelopment or rehabilitation of real estate improvements 0 Yes ❑No
2.Residentially distressed areas ❑Yes ❑Q No
C. The amount of the deduction applicable is limited to$ n/a .
D. Other limitations or conditions(specify) n/a
E. Number of years allowed: ❑Year 1 ❑Year 2 0 Year 3 ❑Year 4 ❑ Year 5 (*see below)
❑Year 6 ❑Year 7 ❑✓ Year 8 ❑Year 9 ❑Year 10
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?
❑✓ Yes ❑No
If yes,attach a copy of the abatement schedule to this form.
If no,the designating body is required to establish an abatement schedule before the deduction can be determined.
We have also reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have
determined that the totality of benefits is sufficient to justify the deduction described above.
Ap ed(signature and tit f authorized member of designating body) Telephone number Date signed(month,day,year)
�' ( 514 ) 23M13"932( /0/17/2025
d name of au7NTorized membe of designating body Name of designating body
al>1i'�5, / ,� - Common Council of the City of South Bend,Indiana
Attested by(signature andte�title of attes(erf Printed name
nname of attester
vg
'� 7)re cHo- f .4-�L c�.I Ma.4#ic`^' Nta'
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
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.
A. For residentially distressed areas where the Form SB-1/Real Property was approved prior to July 1,2013,the deductions established in IC
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,
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
deduction period may not exceed ten(10)years. (See IC 6-1.1-12.1-17 below.)
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
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
body is required to establish an abatement schedule for each deduction allowed.(See IC 6-1.1-12.1-17 below.)
IC 6-1.1-12.1-17
Abatement schedules
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
section 4 or 4.5 of this chapter an abatement schedule based on the following factors:
(1) The total amount of the taxpayer's investment in real and personal property.
(2) The number of new full-time equivalent jobs created.
(3) The average wage of the new employees compared to the state minimum wage.
(4) The infrastructure requirements for the taxpayers investment.
(b)This subsection applies to a statement of benefits approved after June 30,2013. A designating body shall establish an abatement schedule
for each deduction allowed under this chapter. An abatement schedule must specify the percentage amount of the deduction for each year of
the deduction. Except as provided in IC 6-1.1-12.1-18,an abatement schedule may not exceed ten(10)years.
(c)An abatement schedule approved for a particular taxpayer before July 1,2013,remains in effect until the abatement schedule expires under
the terms of the resolution approving the taxpayers statement of benefits.
Page 2 of 2