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<br /> <br />We have reviewed our prior actions relating to the designation of this Economic Revitalization Area and find that the applicant meets. the general standards <br />adopted in the resolution previously approved by this body. Said resolution, passed 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 lhis.designation <br />expires is <br />B. The type of deduction that is allowed in the designated area is limited to: <br />1. Redevelopment or rehabilitation of real estate Improvements ^ Yes ^ No <br />2. Residentially disVessecf areas ^ Yes ^ tJo <br />3. Occupancy of a vacant. building ^ Yes ^ No <br />C. The amount of the. deduction applicable is limited to $ <br />O. Other limitations or conditions (specify) <br />E. The deduction is allowed for years` (see below). <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 or authorized member of designating body} Telephone number Date signed (month, day, year) <br />Attested by (signature and title of attester) Designated 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 taxpayer is <br />entitled to receive a deduction to a number of years designated under IC 6-1.12-12.1-4. <br />A. For residentially distressed areas, the deduction period may not exceed Live (S) years. <br />B. For redevelopment and rehabilitation 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. I(the Economic Revitalization Area was designated after June 20, 2000, the deduction period may not exceed ten (10) years. <br />C. Far vacant buildings, the deduction period may not exceed two (2) years. <br />Page 2 of 2 <br />