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Bill 16-18 Tax Abatement for East Bank South Bend Development LLC
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Bill 16-18 Tax Abatement for East Bank South Bend Development LLC
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Last modified
4/26/2017 10:13:16 AM
Creation date
3/10/2016 11:02:26 AM
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City Council - City Clerk
City Counci - Date
3/14/2016
Bill Number
16-18
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We find that the applicant meets the general standards in the resolution adopted or to be adopted by this body. Said resolution, passed or to be passed <br />under IC 6 -1.1 -12.1, provides for the following limitations: <br />A. The designated area has been limited to a period of time not to exceed calendar years' (see below). The date this designation <br />expires is <br />B. The type of deduction that Is allowed in the designated area is limited lo: <br />1. Redevelopment or rehabliitatiori of real estate improvements a Yes ❑ No <br />2. Residentially distressed areas ❑ Yes 0 No <br />C. The amount of the deduction applicable Is limited to $ <br />D. Other limitations or conditions (specily) <br />E. The deduction Is allowed for years" (see below). <br />F. Did the designating body adopt an alternative deduction schedule per IC 6 -1.1- 12.1 -177 ❑ Yes ❑ No <br />If yes, attach a copy of the alternative deduction schedute to this form. <br />We have also reviewed the Information contained in the statement of benefits and find dial, the estimates and expectations are reasonable and have <br />dete=16ad that the totality of benefits is suf iclerit to Justify the deduction described above, <br />Approved (signaWre and Vile ofsoModzed member of designating body) Telephone number Date slimed (month, day. year) <br />( ) <br />Attested by (signature and tJtte ofatlester) I Designated body <br />`'If the designating body limits the time period during which an area is an economic revitalization area, it does not Omit 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. <br />A. For residentially distressed areas, the deduction period may not exceed live (6) years. <br />B. For redevelopment and rehabilitation or real estate improvements: <br />1. It 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. <br />2. If the Economic Revitalization Area was designated after June 30, 2000, and is not in a residentially distressed area, the deduction period may not <br />exceed ten (16) years. <br />Page 2 of 2 <br />
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