01-26-15 Agenda, Packet and Committee Meeting Notice

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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 IC 6-1.1 -12.1, provides for the following limitalions: 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 ❑ Yes ❑ No 2. Residentially distressed areas ❑ Yes ❑ No 3. Occupancy of a vacant building ❑ Yes ❑ No C. The amount of the deduction applicable is limited to f D. Other limitations or conditions E. The deduction is allowed for (see below). We have also reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have determined that the totality of benefits is sufficient to justify the deduction described above. (sigwfure and arid Telephone number Date signed (mondr, day, year) • If the designating 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 entitled to receive a deduction to a number of years designated under IC 61.12 - 12.1 -4. A. For residentially distressed areas, the deduction period may not exceed five (5) years. B. For redevelopment and rehabilitation or real estate improvements: 1. If the Economic Revitalization Area was designated prior to July 1, 2000, the deduction period is limited to three (3), six (6), or ten (10) years. 2. tf the Economic Revitalization Area was designated after June 20, 2000, the deduction period may not exceed ten (to) years. C. For vacant buildings, the deduction period may not exceed two (2) years, Page 2 W 2