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construction within the Gity, and would warrant tax abatement consideration as set forth <br />herein. <br />B. Base Abatement General Standards: Proposed single-family new construction homes <br />which are to be located within the City's corporate boundaries and meet the requirements <br />addressing residentially distressed areas set forth in I.C., 6-1.1-12.1-2 and the provisions of <br />paragraph D below, may be considered for a Base Abatement consisting of five (5) years <br />real property tax abatement. <br />C. No Add-on Abatement: No Add-on Abatement will be granted for single-family <br />residential construction. <br />D. Residentially Distressed Area Designation: The grant of a residentially distressed area <br />designation is subject to the following conditions: <br />1. The deduction will not be allowed unless the dwelling is constructed to meet the <br />local code standards for habitability. <br />2. If a designation application is filed, the Council may require that the construction <br />be completed within a reasonable period. <br />DIVISION 3. OFFICE DEVELOPMENT REAL PROPERTY TAX ABATEMENT <br />Sec. 2-78 Office Developments Within Central Business District <br />A. Generally: The Council believes that the following tax abatement general standards <br />have a reasonable relationship to the development objectives of office developments within <br />the Central Business District, and would warrant tax abatement consideration as set forth <br />herein. <br />B. Base Abatement General Standards: <br />1. New Construction: Proposed office developments which incorporate new <br />construction of not less than fifteen thousand (15,000) square feet, and which are <br />to be located within the Central Business District, may be considered for a Base <br />Abatement consisting of three (3) years real property tax abatement. <br />2. Rehabilitation: Proposed Rehabilitation of existing structures located within the <br />Central Business District for office development, and which propose not less than <br />five thousand (5,000) square feet, may be considered for a Base Abatement <br />consisting of three (3) years real property tax abatement. <br />C. Add-on Abatement General Standards: Proposed office developments which qualify to <br />be considered for a Base Abatement under the provisions of paragraph B above, may be <br />considered for an Add-on Abatement consisting of from one (1) to seven (7) years real <br />property tax abatement. <br />D. Compliance with state law: All applicants seeking real property tax abatement <br />consideration under this section must also comply with all applicable regulations set forth in <br />I.C. 6-1.1-12.1-1 et seq. <br />Tax Abatement Ordinance Page 30 <br />