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03-14-16 Council Packet & Agenda
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03-14-16 Council Packet & Agenda
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City Council - City Clerk
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We, find that the applicant meets the general standards in tho resolution adopted onto be adopted by this body. Sold resolulloit, passed dr to be passed <br />under IC 6 -1.1 -12.1, prouides'tor 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 allawed in the designated area is limited to: <br />1. Redevelopment or rehabilitation of real estate improvements a Yes t] No <br />2. Residentially distressed areas ❑ Yes ® No <br />C. The amount of the deduction appitcable is limited to $ <br />D. Other iimite0ons or donditions (specify) <br />E. The deduction is allowed (or. years" (see below). <br />F Did the designattng bddy adopt an alternative deduction schedule per IC 6-'1.1- 12.1 -17? ❑ Yes O No <br />If yes, attach a copy of the altemative deduction schedule to this form. <br />We hfive also reviewed the information contained in the statement Of benefits and find !Fiat the estimates and expectations are reasonable and have <br />determined that the totality of benef la is sufttclent to justify the deduction described above, <br />Approved (sfgttafure andlllle ofaugrorfzed memberofdesignadng body) Telephone number Date stoned (mdplh, day, yeai7 <br />Aflested by (signature and title of etlesler) Desfqnafed body <br />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 laxpayer is <br />entitled to receive a deduction to a number of years designated under iC <br />A. For residentially distressed areas, the deduction period may not exceed five (6) years. <br />B. For redevelopment and rehabilltation or real estate Improvements: <br />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, <br />2. If the Economic ReAlalizalidnArea was designated after June 30, 2000, and is-not Ina residentially distressed area, the deduction period may not <br />exceed ten (10) years. <br />Page !'of 2 <br />
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