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B. Base Abatement General Standards: <br />1. New construction: Proposed new construction of Institutional Developments <br />which are to be located within the Central Business District, East Bank <br />Development Area, and UEZ may be considered for may be considered for a <br />Base Abatement consisting of three (3) years real property tax abatement. <br />2. Rehabilitation: Proposed Rehabilitation of Institutional Developments located <br />within the Central Business District, East Bank Development Area and UEZ, may <br />be considered for a Base Abatement consisting of three (3) years real property <br />tax abatement. <br />C. Add-on Abatement General Standards: Proposed Institutional Developments, which <br />qualify to be considered for a Base Abatement under the provisions of paragraph B above, <br />may be considered for an Add-on Abatement consisting of from one (1) to seven (7) years <br />real 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 of seg. <br />Sec. 2-81.1 Hotel/Motel Development In The Central Business District, East Bank <br />Development Area, And Airport Economic Development Area. <br />A. Generally: The Council believes that the following general standards have a <br />reasonable relationship to the development objectives for hoteVmotel development within <br />the Central Business District, East Bank Development Area, and Airport Economic <br />Development Area, and would warrant tax abatement consideration as set forth herein. <br />B. Base Abatement General Standards: Proposed new construction of hotel/motel <br />developments which incorporate twenty (20) rooms or more and are to be located within the <br />Central Business District, East Bank Development Area and Airport Economic Development <br />Area may be considered for a Base Abatement consisting of three (3) years real property <br />tax abatement. <br />C. Add-on Abatement General Standards: Proposed hotel/motel developments which <br />qualify to be considered for a Base Abatement under the provisions of paragraph B above, <br />may be considered for an Add-on Abatement consisting of from one (1) to seven (7) years <br />real 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 />DIVISION 7. INDUSTRIAL DEVELOPMENT REAL PROPERTY TAX ABATEMENT <br />Sec. 2-82. Industrial Development City-Wide General Standards <br />A. Generally: The Council believes that the following general standards have a <br />reasonable relationship to the development objectives for Industrial Development city-wide, <br />and would warrant tax abatement consideration as set forth herein. <br />Tax Abatement Ordinance Page 34 <br />