11-10-08 Council Meeting Agenda & Packet

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VVe have reviewed our prior actions relating to the designation of this economic revitalization area and find that the appplicant meets the general standards adopted in the resotution previously approved by this body. Said resolution, passed under iC 6-1.1-12.1-2.5, pro- vides for the following limitations as authorized under IC 6-1.1-12.1-2. A. The designated area has been limited to a period of time not to exceed `calendar years ~ (see below). The date this 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; d Yes O N o 2. Installation of new manufacturing equipment; ^ Yes D N o 3, lnstailation of new research and development equipment; D Yes D No 4. Residentially distressed areas O Yes ^ N o C .The amount of deduction applicable for redevelopment or rehabilitation is limited to $ ~~ _____^_ cost with an assessed value of $ _____ D .The amount of deduction applicable to new manufacturing equipment is limited to $ y,~.~__~ cost with an assessed value of $ - E. The amount of deduction applicable to new research and devetopment 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- abieand have determined that the tofal'rty of benefits is sufficient to justify the deduction described above. Approved: (signature and title of authorized member) Telephone number bate signed (month, day, year) ( } Attested by: ~~. Designated body " if the designating body Limits the time period during which an area is art economic revitilization area, it does not limit the length of time a taxpayer is entitled to receive a deduction to a number of years designated under lC 6-1.1-121-4 or 4.5