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01-13-14 Council Agenda & Packet
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01-13-14 Council Agenda & Packet
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1/10/2014 2:47:58 PM
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2/18/2014 3:10:57 PM
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
1/13/2014
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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 general standards <br />adopted in the resolution previously approved by this body. Said resolution, passed under IC 6 -1.1- 12.1 -2.5, provides for the following limitations as <br />authorized under IC 6-1.1- 12.1 -2. <br />A. The designated arcs, tics been limited to a period of time not to exceed calendar years ' (see below). The date this designation expires <br />is !— LI —ZA {3 <br />B . The type of deduction that is allowed in the designated area is limited to: <br />1. Installation of new manufacturing equipment; Yes ❑ N o <br />2. Installation of new research and development equipment; WYes fNo 3. Installation of new logistical distribution equipment. ❑Yes 4. Installation of new Information technology equipment; ❑Yes rr ��77 ! <br />C. The amount of deduction applicable to new manufacturing equipment is limited to $ iQ a U1 ft r t cost with an assessed value of <br />D. The amount of deduction applicable to new research and development equipment is limited to $ cost <br />with an assessed value of $ <br />i <br />E. The amount of deduction applicable to new logistical distribution equipment Is limited to $ cost with an assessed value of <br />c � <br />F. The amount of deduction applicable to new information technology equipment is limited to $ cost with an assessed value of <br />PP 9Y <br />G. Other limitations or conditions (apeclly) <br />H. The deduction for new manufacturing equipment and/or new research and development equipment andfor new logistical distribution equipment and/or <br />new information technology equipment installed and first daimed eligible for deduction on or after July 1, 2000, is allowed for. <br />❑ 1 year ❑6 years •• For ERA's established prior to July 1, 2000, oniv a <br />❑ 2 years ❑ 7 years 5 or 10 year schedule may be deducted. <br />03years ❑8 years <br />❑4 years ❑ 9 years <br />,,�A <br />7 years** ❑ 10 years •• <br />we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have <br />minekthat the totality of benefits is sy(irient to jus"e deduction described above. <br />day, year) <br />2A 1 L -L - <br />• If the deonating body limits the time period during which an area is an economic revitalization area, it does not limit the length of time a taxpayer Is <br />entitled to receive a deduction to a number of years designated under IC 6.1.1- 12.1.4.5 <br />
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