Laserfiche WebLink
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 <br />designation expires is <br />B. The amount of the deduction applicable is limited to $ <br />C. Other limitations or conditions (specify) _ <br />D. Number of years allowed: ❑ Year 1 ❑ Yearn ❑ Year 3 ❑ Year 4 ❑ Year 5 (-see below) <br />❑ Year 6 ❑ Year 7 ❑ Year 8 ❑ Year 9 ❑ Year 10 <br />E. For a statement of benefits approved after June 30, 2013, did the designating body adopt an abatement schedule per IC 6- 1.1- 12.1 -17? . <br />Yes ❑ No <br />If yes, attach a copy of the abatement schedule to this form. <br />if no, the designating body Is required to establish an abatement schedule before the deduction can be determined. <br />We have also 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 the deduction described above. <br />Approved (signature and title ofauthodked member ofdesignating, body) Telephone number Date signed (month, day, year) <br />Printed name of authorized member of designating body Name of designating body <br />Attested by (signature and 8tle ofattester) Printed name of attester <br />If the designating body limits the time period during which an area is an economic revitalization area, that limitation does not limit the length of time a <br />taxpayer is entitled to receive a deduction to a number of years that is less than the number of years designated under IC 6 -1.1- 12.1 -17. <br />IC 6 -1.1- 12.1 -1(17) "Eligible vacant building" means a building that: <br />(A) is zoned for commercial or Industrial purposes; and <br />(B) Is unoccupied for at least one (1) year before the owner of the building or a tenant of the owner occupies the building, as evidenced <br />by a valid certificate of occupancy, paid utility receipts, executed lease agreements, or any other evidence of occupation that the <br />department of local government finance requires. <br />IC 6- 1.1- 12.1 -17 <br />Abatement schedules <br />Sec. 17. (a) A designating body may provide to a business that Is established In or relocated to a revitalization area and that receives a deduction under <br />section 4 or 4.5 of this chapter an abatement schedule based on the following factors: <br />(1) The total amount of the taxpayer's Investment In real and personal property. <br />(2) The number of new full4lme equivalent jobs created. <br />(3) The average wage of the new employees compared to the state minimum wage. <br />(4) The Infrastructure requirements for the taxpayer's investment. <br />(b) This subsection applies to a statement of benefits approved after June 30, 2013. A designating body shall establish an abatement schedule <br />for each deduction allowed under this chapter. An abatement schedule must specify the percentage amount of the deduction for each year of <br />the deduction. An abatement schedule may not exceed ten (10) years. <br />(c) An abatement schedule approved for a particular taxpayer before July 1, 2013, remains in effect until the abatement schedule expires under <br />the terms of the resolution approving the taxpayer's statement of,benefits. <br />Page 2 of 2 <br />