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HomeMy WebLinkAbout18-64 Nilkanth, LLC Designating Tax Abatement Filed in Clerk's Office E.', ' .."-.=� OCT 1[ 2018 ����_�.: +����� KAREEMAH FOWLER X �/`" CITY CLERK,SOUTH BEND,IN CITY OF SOUTH BEND COMMUNITY INVESTMENT JAMES MUELLER, EXECUTIVE DIRECTOR -- October 17, 2018 Council Member Gavin Ferlic, Chairperson Community Investment Committee South Bend Common Council 4th Floor, County City Building South Bend,IN 46601 RE: Real Property Tax Abatement Petition for: Nilkanth,LLC Dear Council Member Ferlic: Please find attached the Department of Community Investment's report on a real property tax abatement petition for the above-referenced petitioner. Also attached is a copy of the petition, . Statement of Benefits form,and supporting information.The project calls for the new construction of Dairy Queen Grill & Chill,to be located at 4836 Western Ave, South Bend,IN. The report contains the Department's findings relative to the above petition. The total amount of private investment for the new building construction and land purchase is estimated at$1,660,661. The project meets the qualifications for a seven-year real property tax abatement.A representative from Nilkanth,LLC will be available to meet with the Committee on Monday,October 22nd,2018. Should you or any of the other Council members have any questions concerning the report, or need additional information,please feel free to call me at 235-5838. Sincerely, Angelina Billo Business Development Manager DANIEL J.BUCKENMEYER ALKEYNA ALDRIDGE PAMELA MEYER TIM CORCORAN BUSINESS DEVELOPMENT ENGAGEMENT&ECONOMIC EMPOWERMENT NEIGHBORHOOD DEVELOPMENT PLANNING&COMMUNITY RESOURCES EXCELLENCE I ACCOUNTABILITY I INNOVATION 1 INCLUSION I EMPOWERMENT 1400S County-City Building 1227 W Jefferson Blvd.I South Bend,Indiana 466011p 574.235.9371 I www.southbendin.gov Filed in Clerk's Office EBILLNO. 18-64 CJ�T 1720-118 KAREEMAH FOWLER RESOLUTION NO. CITY CLERK,SOUTH BEND, IN A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 4836 Western Ave, South Bend, IN 46619 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (7) SEVEN-YEAR REAL PROPERTY TAX ABATEMENT FOR Nilkanth, LLC WHEREAS, a petition for real property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that portions of the property located at 4836 Western Ave, South Bend, Indiana which is more particularly described as follows: Lot 2 Western & Summit Drive Minor Subdivision: THAT PART OF THE SOUTHEAST QUARTER OF SECTION 8, TOWNSHIP 37 NORTH, RANGE 2 EAST, PORTAGE TOWNSHIP, CITY OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA WHICH IS DESCRIBED AS: BEING A PORTION OF LOT # 1 IN THE PLAT OF "WESTERN B.K. MINOR SUBDIVISION" AS RECORDED BY DOCUMENT NO. 1512416 IN THE RECORDS OF THE ST. JOSEPH COUNTY, INDIANA RECORDER'S OFFICE AND MORE PARTICULARLY DESCRIBED AS: BEGINNING AT A POINT ON THE SOUTH RIGHT-OF-WAY LINE OF WESTERN AVENUE WHICH POINT IS SOUTH 89°56'49"WEST,A DISTANCE OF 60.00 FEET FROM THE NORTHWEST CORNER OF LOT # 2 IN SAID PLAT; THENCE SOUTH 00°37'39" EAST, A DISTANCE OF 25.00 FEET;THENCE NORTH 89°56'49"EAST,A DISTANCE OF 20.00 FEET;THENCE SOUTH 00°37'39" EAST, A DISTANCE OF 150.00 FEET; THENCE SOUTH 89°56'49" WEST,A DISTANCE OF 245.07 FEET; THENCE NORTH 00°38'45" WEST, A DISTANCE OF 175.00 FEET TO THE SOUTH RIGHT- OF-WAY LINE OF WESTERN AVENUE; THENCE NORTH 89°56'49" EAST ALONG SAID SOUTH LINE, A DISTANCE OF 225.14 FEET TO THE POINT OF BEGINNING. CONTAINING 0.97 ACRES MORE OR LESS. SUBJECT TO ALL LEGAL HIGHWAYS, EASEMENTS AND RESTRICTIONS OF RECORD and which has Key Number 018-4129-504422, and be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et seq., and South Bend Municipal Code Sections 2-76 et seq., and; WHEREAS,the Department of Community Investment has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6-1.1-12.1, et seq., and South Bend Municipal Code Sections 2-76, et seq., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and WHEREAS,the Community Investment Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds that the Petition for Real Property Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the requirements of Indiana Code § 6-1.1-12.1 et seq., for tax abatement. SECTION II. The Common Council hereby determines and finds the following: A. That the description of the proposed redevelopment or rehabilitation meets the applicable standards for such development; B. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of this nature; C. That the estimate of the number of individuals who will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed described redevelopment or rehabilitation; D. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed redevelopment or rehabilitation; E. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment or rehabilitation; and F. That the totality of benefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code § 6-1.1-12.1-3. SECTION III. The Common Council hereby determines and finds that the proposed described redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the Statement of Benefits, Sections 1 through 3 of the Petition for Real Property Tax Abatement Consideration and the Memorandum of Agreement between the Petitioner and the City of South Bend, and that the Statement of Benefits form completed by the petitioner, said form being prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under Indiana Code § 6-1.1-12.1-3. SECTION IV. The Common Council hereby accepts the report and recommendation of the Community Investment Committee that the area herein described be designated as an Economic Revitalization Area and hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of real property tax abatement. SECTION V. The designation as an Economic Revitalization Area shall be limited to three (3) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of(7) seven years as shown by the schedule outlined below as well as the attachment pursuant to Indiana Code 6-1.1-12.1-17. Year 1 - 100% Year 2 - 95% Year 3 - 90% Year 4 - 80% Year 5 - 70% Year 6-60% Year 7—50% SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. Tim Scott, Council President South Bend Common Council Filed in Clerk's Office OCT 17 2018 KAREEMAH FOWLER CITY CLERK,SOUTH BEND,IN TAX ABATEMENT REPORT TO: South Bend Common Council FROM: Angelina Billo,Business Development Manager SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: Nilkanth, LLC DATE: October 17, 2018 On Friday October 12th, 2018, a petition from Nilkanth, LLC was received and subsequently filed with the City Clerk for real property tax abatement consideration for property to be located at 4836 Western Ave, South Bend,IN. Pursuant to Chapter 2,Article 6, Section 2-84.2 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community Investment for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. The Department of Community Investment has reviewed the petition (a copy of which is attached), investigated the area,and makes the following report. PROJECT SUMMARY > New construction of approximately 3,000 sq. ft. Dairy Queen Grill&Chill > The new restaurant will provide service to residents of Western Ave and surrounded area > Estimated taxes being paid during the seven-year abatement period—$61,270 ➢ Estimated taxes being abated during the seven-year abatement period—$90,881 EMPLOYMENT IMPACT Per the petition,this project will create at least 20 permanent full-time jobs and 25 part-time jobs with a total estimated annual payroll of$741,000.The average hourly wage for new full-time jobs is$11.50. The company is planning to invest approximately$17,500 in employees' training. ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted, finds that the petitioner has not been granted or associated with any previous abatements. 2. The Area Plan Commission has reviewed the petition and finds the property to be properly zoned for the proposed project. 3. The Building Commissioner has reviewed the petition and finds no building permit has been issued. 4. A review of the South Bend Redevelopment designation areas finds that the property is located in the River West Development Area. 5. A review of the Tax Abatement Ordinance No.9394-03 finds that the petitioner meets the qualifications for a(7)seven-year real property tax abatement under section 2-76.4,Add-on Abatement. a N 1Oorn v o Nolo coom 0 O N CD 0) ‘D n CO 0 N N N N (O N } (O N(NN COCO V rn O N N - d N 0 CO 0 o co N O rn R.N o N o N o 0 J •x". O p N rnCc) CO CO N N 0 NCO 0 CO OO N n } < NMN ') Y N i vi" N co 0 n M o rn o rn o morn mom , N CO M r N N N r CO LC) W CO N ti C cr W 1 8,3} NNN -c-- H N N 0 J p N`E N v) 2 0 LL 0 1 u V N 00)MO o Oo (o CD CO CO N p N N 0 CO 0 0 CO CO CO a) (•,1 0 CO rn 0 0, 0, N N } N N W 4V r r- N N Q. N L`- tri a) co a .M N O T E•M o M 0 CO CO 0(O (U '‘,13.3- 0 ! ! 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Uca� < U' .� U r. ...-. Ci of South Bend LTJ1 Fl OCT 1 2 2018 City "t,� Petition for Incentives t t '111 .,: Petition must include a$250 filing fee payable to the City Clerk's Office or online via the City's website at tabs ` http://southbendin.gov/government/content/tax-abatement before processing can be complete General Information Project Name Dairy Queen 1 Project Number Legal name as registered with Secretary of Nilkanth LLC. State Business structure Resturant Company website www.Dairyqueen.com Proposed Project Information Proposed project address 14836 Western Ave Parent company name City,State,Zip South Bend, IN 46619 Legal owner Nilkanth Properties LLCp Site acreage or acreage requiredIs the real estate owned or Owned 1 Acre leased Square feet of facility 3000 Square Feet If leased by whom N/A Primary Contact Information Primary company contact name Vandna Patel Title President Address of company contact 12422 State Road 23 Phone 574-327-9994 City,State,Zip Email Vandna@michianadq.com Granger, IN 46530 � Senior Official Information a Company senior official name Vandna Patel TitlePresident Address of company contact(if different from N/A Phone 574-327-9994 above) Email City,State,Zip IN/A N/A Consultant Information/Agent Hired business consultant/agent name IN/A Consultant release(Y/N) IN/A Address Local economic development partners IN/A N/A approval(Y/N City,State,Zip N/A Email (Y/N1, Project Overview Brief description of your company,project,and why the property is necessary for We are planning to build Dairy Queen Grill & Chill 3000, Square feet economic growth standing building with Drive thru that will provide service to resident of Western Ave and surrounded area. We will employ 45 Employees, which consist of 20 full time and 25 part time along with 4 full time management positions. We will build State of the art facility, which will draw people into the area. This will give opportunity to community and people in the area to walk to work and make a better living without transportation. Our vision is to create a place for family comes to celebrate, a place to be. Certified Technology Park appropriate N/A Is the project in a Tax Incremental Financing N/A (TIP 1 area? If so,which? Certify that the Building Permit has not been N/A Number of residential units created by IN/A issued(Y/NI !Number If this is a petition for personal property tax abatement,has IN/A the equipment been installed Investment Details Public Infrastructure needs(Off- Has any 504 funding been What is the value of any equipment being purchased in What isthe froalvalue ofany out of eeuipthentbeingproj ? site of project in dollars) received? Indiana for the project? purchased 0 0 $90,000.00 $330,000.00 New Project Investments Calendar Year 2016 2017 2018 2019 2020 2021 2022 2023 Land Acquisition 225,000 Building Lease Payments $0 Building Purchase Costs $0 New Building Construction 905,661 . Existing Building Improvements ,1 $0 New Machinery&Equipment 400,000 Special Tooling/Retooling p $0 New Furniture/Fixtures 80,000 New Computer/IT Hardware 50,000 New Software $0 On-site Rail Infrastructure $0 On-site Fiber Infrastructure $0 TOTAL 16606 ] Full-Time Permanent Indiana-Resident Positions by Calendar Year Calendar Year Jobs retained Total hourly Cumulative ft of net NEW full time Hourly average wage,w/o Total training Total II to be wage w/o permanent jobs created at project benefits or bonuses,of expenditure- trained-not fringe or cumulative net new jobs not cumulative cumulative bonuses 2016 2017 2018 2019 20 11.50/hr $17,55. 2020 2020 20 11.50/H R 2021 2022 2023 2024 2025 — 2026 2027 Provide hourly wage information for new employees in the following positions. Full time Part time Laborers 20 24 Technical 0 0 Managerial 4 1 Administrative 1 0 Who will be the individual responsible for coordinating with IVandna Patel WorkOne on recruiting? Does your company have an EEO hiring policy?IYe s Are you an EEO employer? Yes Please list the number of full time and part time minority and/or female employees for each ofd Please d rsity and Iibe our by detailur ien ent to te last three years: our outreach and recruitment efforts for the last Year three years as well as current policies. _— Full Time Part Time Full Time Part Time Full Time Part Time Black This will be a new Hispanic facility/new Asian development in the Indian area. Female Other Complete below for Real or Personal Property Tax Abatement only. Please sign for all requested incentives. Public Benefit Item: Information is required on both the construction companies and the companies which will provide materials purchased for this project. Qualify Earned Points Available Points Please complete the table below with the appropriate information. If (Yes or No) you qualify for the points,please enter the full amount of available points. 1 Construction Related(Contractors): A. Employ Local Companies(75%) Yes 20 20 i B. Purchase Materials from Local Companies(75%) Yes 20 20 C. Require Employees vs.Independent Contractors Yes 19 19 D. Require Prevailing Wage(Davis Bacon) Yes 22 22 E. Require Health Benefits Yes 22 22 F. Require Pension Benefits Yes 18 18 G. Maintain Affirmative Action Plan Yes 20 20 I (Sub-total Construction Related: 141 141 2 Wage&Benefit Related(Owner): A. Pay Target Wage Levels Yes 33 33 B. Provide Health Benefits Yes 34 34 C. Provide Pension Benefits No 0 29 D. Provide Training Yes 28 28 E. Provide Child Care No 15 15 F. Provide Transportation Assistance Yes 14 14 G. Provide Employer Assisted Housing program No 0 9 Sub-total Wage&Benefit Related: 124 162 3 Workforce Related: A. Create New Jobs Yes 42 4241 B. Retain Existing Jobs Yes 41 C. Maintain Affirmative Action Plan Yes 35 35 Yes 34 D. Provide Targeted Hiring Preference Sub-total Workforce Related: 152 132 4 Support a Municipal Facility: 'Support a SB Municipal Facility(donations to the Yes 84 84 A. zoo,conservatory,museum,etc.) Name of Facility Friends of Granger Path I 'Sub-total Municipal Facility: Yes 84 84 Sub-total from Above: 501 535 The undersigned owner(s)of real property,located within the City of South Bend,herby petition the Common Council of the City of South Bend for a real and/or personal property tax abatement consideration and pursuant to I.C.,6-1.1-12.1-1,et seq.,and South Bend Municipal Code Sec.2-76 et seq.,for this petition state the above. Submitted By: (Vandna Patel I/ at : 110/09/2018 For Staff Use Only Below This Line XI What is the current assessed value? Real Property: /V74 Personal Property:II What is the projected assessed value? Real Property: 77.2 O b O Personal Property: What is the tax key number for this project? f 0/e -0'2 - 522 ' ''2 - . tt What is the six digit NAICS code? I 1722--67( 9 Please attach a Google map and street view of the location. Taxes:t Property Please list the amount of real and personal property taxes Real Property Taxes: Personal paid for the last five years when applicable. Year One Year Two �� Year Three 1m l K Year Four Year Five 1 Please fill out the following Public Benefit Summary Information and acid to total from above. (Y or N) I Points I Points Public Benefit Item: Project Related: 49 5 A. Redevelop a Site that has Special Needs 35 B. Develop Based on Local University Research C. Achieve a Physical Element of a Plan 36 36 (Sub-total Project Related: 120 6 Super Size Projects(point values are cumulative): 25 A. 100%to 199% 68 B. 200%to 299% 65 C. 300%to 399 52 D. 400%and Over "Sub-total Super Size Projects: 210 7 Pay for Municipal Infrastructure: 14 A. Pay for Oversizing or Upgrading 26 B. Pay for 26-50%of Extension Cost 39 C. Pay for 51-75%of Extension Cost S2 D. Pay for 76-100%of Extension Cost ISub-total Infrastructure Related: I 131 Total from Applicant Section: 3 0/ 539 461 Total from Staff Section: 5 3 1000 Total Public Benefit Points: OCT 12 2010 ' i 20 EI t,, STATEMENT OF BENEFITS t a� t I 20 PAY_ _ '�'7•1' REAL ESTATE IMPROVEMENTS t 't tt 'i s ;' FORM SB-1!Real Property j a '- State Form 51767(R6/10-14) , .- c .i 1'1 f' ,e ' Prescribed by the Department of Local Government Finance ,. - "`"-. PRIVACY NOTICE Any Information concerning the cost This statement is being completed for real property that qualifies under the following Indiana Code(check one box): of the property and specific salaries O Redevelopment or rehabilitation of real estate improvements(IC 6-1.1-12.1-4) paid to individual employees by theproperty owner is confidential per ❑Residentially distressed area(IC 6-1.1-121-4.1) IC 6-1,1-12.1-5.1. I INSTRUCTIONS: 1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body requires } Information from the applicant in making Its decision about whether to designate an Economic Revitalization Area. Other/se,this statement must be i submitted to the designating body BEFORE the redevelopment or rehabilitation of real property for which the person wishes to claim a deduction, 2. The statement of benefits form must be submitted to the designating body and the area designated an economic revitalization area before the initiation of 1f the redevelopment or rehabilitation for which the person desires to claim a deduction. 1 3. To obtain a deduction, thirtya Fom02RE must be after the assessment swith ment noticetIs mailed to the propertyAuditor before May 10 in the owne if It was mailed afteear in which the rfApril 10.assessed A property owner who who made ornot deduction application (30)daysI failed to file a deduction within the prescribed deadline may file an application between March 1 and May 10 of a subsequent The Formyear. 4. A Property showner who files for the ould be attached to the Formtion must322/RE when therovide deductiohe n Is first claimed and Auditor and ithen updated annualwith a ly for eacheal year the deduction Is applicable. e IC 6-1.1-12.1-5.1(b) proved after June 30, 2013, the j 5. deductionFor a Form l owed, For P Formy SB-1/Rethat Is al Property that is approved prior to July 1, 2013,bodyhe abatement schedule approved by the designating body remains in effect. IC 6-1.1-12.1-17 X SECTION 1 TAXPAYER INFORMATION l Name of taxpayer Nilkanth Properties LLC; Address of taxpayer(number and skeet,city state,and ZIP code) z 12422 State Road 23 Granger, IN 46530 E-mail address r Name of contact person Telephone number Vandna Patel (574 )327-9994 vandna@michianadq.com SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Resolution number Name of designating body Common Council . DLGFtaxingdlsUlctnumber Location of property (County Estimated start date(month,day,yeah pescripl(on of real property Improvements,redevelopment,or rehabilitation(use additional sheets if necessary) b7/1/2018 i 1 Dairy Queen Grill and Chill aprox 3000 Square feet building with drive Thru. 1 stimatedc gellondate(month,day,yea) SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED rr PROU JECT Salaries al1 Current number Salaries Number retained Salaries 350,000.00 f N/A N/A N/A N/a 40 I SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS COST ASSESSED VALUE I Current values 1lo,660,661.00 Plus estimated values of proposed project 1 E Less values of any property being replaced 1 660 661.00 Net estimated values upon completion of project SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER• 6 Estimated solid waste converted(pounds) Estimated hazardous waste converted(pounds) E Other benefits i i r s 1 I r I g SECTION 6 TAXPAYER CERTIFICATION t € I hereby certify that the representations in this statement are true.'\ liDate signed(month,day,year) G Signature of authorized representative\ f �• � 0/09/2018 I UT(tle Printed name of authorized representative resident i Vandna Patel • 1 Page 1 of 2 4 I -._ - E ... i - .. ,'- ... ; FOR USE.OF,TkI�•Dgt1O{yATINfa.13.ODY _ .. . _ 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 under iC 6-1.1-12.1,provides for the following limitations: A. The designated area has been limited to a period of time not to exceed calendar years`(see below). The date this designation expires is • B. The type of deduction that is allowed in the designated area is limited to: 1.Redevelopment or rehabilitation of real estate improvements 0 Yes 0 No 2.Residentially distressed areas ❑Yes 0 No C. The amount of the deduction applicable is limited to$ • D. Other limitations or conditions(specify) Year 2 0 Year 3 0 Year 4 [j Year 5 ( see below) 0 Year6 ❑Year? 0 E. Number of years allowed: Year ElYear 8 ElYear 9 0 Year 10 F. For a statement of benefits approved after June 30,2013,did this designating body adopt an abatement schedule per IC 6-1.1-12.1-17? • []Yes D No If yes,attach a copy of the abatement schedule to this form. • If no,the designating body Is required to establish an abatement schedule before the deduction can be determined. We have also reviewed the Information contained in the statement of benefits and find that the estimates and expectations are reasonable and have determined that the totality of benefits Is sufficient to justify the deduction described above. I Date signed(month,day,year) Approved(signature and title of authorized member of designating body) Telephone number ( ) Printed name of authorized member of designating body Name of designating body Attested by(signature and title of attester) • Printed name of attester *If the degnatingtion area,that liitation es not limit e taxpayer is entitled to receive a deduction to a nurmber of years that is less than the n mbering which an area Is an economic aof years designated under oIC 6-1.1-12.1-17.1ngth of time a ody the time period • . A. For residentially distressed areas where the Form SB-1/Real Property was approved prior to July 1,2013,the deductions established In IC 6-1.1-12.1-4.1 remain in effect.The deduction period may not exceed five(5)years. For a Form SB-1/Real Property that is approved after June 30, 2013,the designating body Is required to establish an abatement schedule for each deduction allowed, The deduction period may not exceed ten (10)years. (See IC 6-1.1-12.1-17 below." B. For the redevelopment or rehabilitation of real.propertywhere the Form SB-1/Real Property was.approved prior to duty 1,2013,the abatement body isi required to establish an abat ment schedule for s in effect.For a Form SB-1/Real Property each deductionl owed.(See IC 6-11..that 12.117 below.) June 30,2013,the designating IC 6-1.1-12.1-17 ••• Abatement schedules 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 section 4 or 4.5 of this chapter an abatement schedule based on the following factors: (1) The total amount of the taxpayer's Investment in real and personal property. (2) The number of new full-time equivalent jobs created. (3) The average wage of the new employees compared to the state minimum wage. (4) The Infrastructure requirements for the taxpayer's Investment ' (b) Thls subsection applies to a statement of benefits approved after dune 30,2013. A designating body shall establish an abatement schedule for each deduction allowed under this chapter. An abatement schedule must specify the percentage amount of the deduction for each year of the deduction. An abatement schedule may not exceed ten(10)years, (c).An abatement scheduie•approved fora particular taxpayer before July 1,2013,remains In effect until the abatement schedule expires under the terms of the resolution approving the taxpayer's statement of benefits. • Page 2 of 2 Your location to Burger King - Google Maps Page 1 of 2 Go gle Maps Your location to Burger King Drive 3.5 miles, 14 min M ft; U7 W2e0M1 ft; N9 Mtqlail AZ 97 MX32170 GWo ® dJ w yF i` • i� • a 7I a 1,14'''''' _„ '* el 11,1 I Plaza Stylrn"g, y ,`A 1 y - H m,„;,, . _..'I -' ,_/ stat I.•., �:f. 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