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08-24-15 Agenda, Packet & Committee Meeting Notice
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08-24-15 Agenda, Packet & Committee Meeting Notice
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
8/24/2015
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We have reviewed our prior actions relating to the designation of this economic revitalization area and find thal the applicant meets the general standards <br />adopted in the resolution previously approved by this body. Said resolution, passed under IC 6-1.142.1 -2.5, provides for the following limitations as <br />authorized under IC 61.142.1.2. <br />A . The designated area has been limited to a period of Ume not to exceed calendar years' (see below). The date this designation expires <br />B . The type of deduction that is allowed in the designated area Is limited to: <br />new information technology equipment installed and first claimed eligible for deduction on or after July 1. 2000. is allowed for. <br />❑ 1 year <br />1. Installation of new, manufacturing equipment; <br />❑Yes <br />ONO <br />2. Installation of new research and development equipment; <br />® Yes <br />❑ N o <br />3. Installation of new logistical distribution equipment. <br />O Yc s <br />ON. <br />4. Installation of new Information lechnotugy equipment; <br />9--]Yes <br />ONO <br />C. The amount of deduction applicable to new manufacturing equipment Is limited to $. <br />cost with an assessed value of <br />D. The amount of deduction applicable to new research and development equipment is limited to $ cost wth an assessed value of <br />E. The amount of deduction applicable to new logistical distribution equipment is limited to $ cost with an assessed value of <br />F. The amount of deduction applicable to new information technology equipment is limited to $ cost with an assessed value of <br />G Other limitations orcondillons <br />H. The deduction for new manufacturing equipment and/or new research and development equipment and /or new logistical distribution equipment and/or <br />new information technology equipment installed and first claimed eligible for deduction on or after July 1. 2000. is allowed for. <br />❑ 1 year <br />❑ 6 years " For ERA's established prior to July 1, 2000, gatf a <br />❑ 2 years <br />❑ 7 years 5 or 10 year schedule may be deducted. <br />❑ 3 years <br />❑ B years <br />❑ 4 years <br />❑ 9 years <br />D 5years" <br />❑ 10years " <br />I. Did the designating body adopt an aftemaUve deduction schedule per IC 61.1- 12.1 -17? ® Yes 13 No <br />If yes, attach a copy of the alternative deduction schedule to this forth. <br />Also we have reviewed the information contained In the statement of benefits and find that the estimates and expectations are reasonable and have <br />determined that the totality of benefits is sufficient to Justify Ina deduction described above. <br />Date signed (I ondr, day. yead <br />Designated body <br />If the designating body limits the time period during which an area is an economic revitalization area, It dose not limit the length or time a taxpayer is <br />entitled to receive a deduction to a number of years designated under IC 6.1.1-12.145 <br />Page 2 of 2 <br />
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