11-10-08 Council Meeting Agenda & Packet

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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 adopted In the resolution previously approved by this body. Said resolution, passed under 1C 6-1.1-12.9-2.5, pro- videsfor the foi(owing limitations as authorized under 1C 6-1.1-12.9-2. A. The designated area has been limited to a period of time not to exceed calendar years " (see below). The date #his designation expires is B. The type of deduction that is allowed in the designated area is limited to: 1. Redevelopment or rehabilitation of real estate improvements; ^ Yes O N o 2. Installation of new manufacturing equipment; D Yes ^ N a 3. Installation of new research and development equipmen#; ^ Yes O No 4. Residentially distressed areas O Yes ^ No C .7he amount of deduction applicable for redevelopment or rehabilitation is limited to $ ,.,_ cost with an assessed value of $ D .~'he amount of deduction applicable to new manufacturing equipment is limited to $ ,~ cost with an assessed value of $ ~^ E.7he amount of deduction appiicabie to new research and development equipment is limited to $ ,,,_ _,_.~ cost with an assessed value of $ _ F. Other limitations or conditions (specify) Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reason- able and have determined that the totality of benefits is sufficient to Justify the deduction described above. Approved: (slgnafure and title of authorized member) Teteptwne number ~ ~ Date signed (rrmnth, day, year) Attested by: .1 Designated body " !f the designating body limits the time period during which an area is an economic revitilization area, it does not firriif the Length of time a taxpayer is entitled to receive a deductian fo a number of years designated under IC &9.1-12.1-4 or 4.5 ~-~~~ ~!3 ~~~i"a~'S QfitG~ OCT 2 7 2GG8 JGHFJ Vt~i1RDE CITY Cf.>ai'iiC, cQ. l3EVD, IN.