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HomeMy WebLinkAbout19-30 31 Nimtz Land Designating Real Property Tax Abatement Filed in Clerk's Office I APR03 2019 = KAhEEMAH FOWLER CITY CLERK,SOUTH BEND,IN CITY OF SOUTH BEND COMMUNITY INVESTMENT Council Member Gavin Ferlic, Chairperson April 3,2019 Community Investment Committee South Bend Common Council 4th Floor, County City Building South Bend, IN 46601 RE: Real Property Tax Abatement Petition for: 31 Nimtz Land,LLC (an affiliate of Holladay Properties) 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. 31 Nimtz Land, LLC is proposing to invest $12,940,000 in the construction of a new distribution center(speculative building)at 24605 Cleveland Road,South Bend,IN. The report contains the Department's findings relative to the above petition. The project meets the qualifications for a(6) six-year real property tax abatement and a representative from 31 Nimtz Land and Holladay Properties will be available to meet with the Committee on Monday,April 8, 2019. 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 235-5823. Sin erely, 1r�s f , Dan el :uckenmeyer Director Economic Resources&Business Development DA.VIELJ.BUCKENMEYER ALKEYNA ALDRIDGE PAMELA MEYER TIM CORCORA.N BUSINESS DEVELOPMENT ENGAGEMENT&ECONOMIC EMPOWERMENT NEIGHBORHOOD DEVELOPMENT PLANNING&COMMUATTY RESOURCES EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 1400S County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www,southbendin.gov Foxedni Clerks ®f ce APR 0 3 2019 1 TAX ABATEMENT REPORT KAREEMAH ifoWLER P CITY CLERK,SOUTH E E.ND Ip TO: South Bend Common Council FROM: Angelina Billo SUBJECT: Real Property Tax Abatement Petition For: 31 Nimtz Land,LLC (an affiliate of Holladay Properties) DATE: April 1,2019 On April 1,2019, a petition for real property tax abatement consideration for property located at 24605 Cleveland Road, South Bend, IN was filed with the City Clerk by 31 Nimtz Land, LLC. 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,investigated the area,and makes the following report. PROJECT SUMMARY • 31 Nimtz Land, LLC (an affiliate of Holladay Properties) is proposing to invest more than $12,000,000 in the construction of approximately 225,000 sq.ft. speculative industrial facility to be located on the NW corner of US 31 and Nimtz Parkway. • The new facility will attract companies that are either expanding their operations or establishing new operations in South Bend.The building will have 40 dock positions to accommodate modem distribution users. • Total project cost excluding equipment is approximately$12,940,000. • Petitioner is qualified for a six-year real property tax abatement. • The estimated amount of taxes phased-in for the six-year abatement is$1,785,826. Estimated paid taxes paid for the six-year term are$149,218. Current annual taxes are under$6,500. Holladay Properties,a parent of 31 Nimtz Land,is a full-scale land development,design/build,and fully- integrated real estate company, and property management firm. The company has developed over 20 million square feet of commercial space and actively manage over 14.3 million square feet of office, industrial,retail,multi-family,hotel,and healthcare space.Their medical office management portfolio is one of the largest in the country. EMPLOYMENT IMPACT Due to the speculative nature of the building, only indirect jobs will be retained or created. ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted finds that the Petitioner,31 Nimtz Land,LLC has not been granted or associated with any previous tax abatement. 2. The Area Plan Commission has reviewed the petition and finds the property to be properly zoned for the proposed project. 3. The Building Commission has reviewed the petition and finds no building permit was issued. 4. 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(6)six-year real property tax abatement under section 2-75 Real Property Tax Abatement General Standards. 00) N 0 n a CO 0O0 0O1.0 0 -• � >'I O R CM7 CO CO M N o CI N O c)r-N I[) M M ; C`..1 1--. , r- r• '1U 11.1 1 1 a ca o OI0 NON o NOC- NON ILL z)o in Lmocrino) CD an in CA N V co_h[Y co N IN-p 1[) 1n L._ �.'J jjII Y Fr.))}N 1 0 Csi u) M M N N i#�� UPJ 00 Eu " 11 M n O eN to ON) CO CC) II) 000 P! O) ci) OD N V O) N N 10 7 >- O V M N O O N N 0 C N 10ON M M M CO C') 1 O O t1 k O NO V sit O CO 0-852 000000 000 r) Ifp Z f OND 000 CONIL) 01) CO k- COO ml V'OD a0' 0 0 O) 1n Cp ~if O)O)co.N C` N N Q }W e�co N O O N N 0 0 00)COO O) N NLI ON 1n r) tv) tee-- MMM Tr r O O U iv e- CO 0CC E NOS NO O ON00a) 000 tC 0 MCO 1n000 01 01 O m V co 00� O) Of Oi 1n to ~D O �OA�h ONO.. C O -0 '-}07 co co O O N t V Q �- �Nv W OOMD O Cl.'`C NU inN 6 co M MC' Nv co NNN P O h x o o w = C coO -t� U c 4. 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KAREEMAI-rOWLER CITY C!_ERK.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 24605 Cleveland Road, South Bend, IN 46628 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX (6) YEAR REAL PROPERTY TAX ABATEMENT FOR 31 Nimtz Land, LLC WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana requesting that the area located at 24605 Cleveland Drive, South Bend, IN. which is more particularly described as: E1/2 E1/2 Se Sw Ex S End To State Sec 19 38 2e 04-05 Annexed Fr 04 Per Ord#9428-03 W1/2 E1/2 Se Sw Ex S 40'For St Sec 19-38-2e 04-05 Split To City For St Per Tr 14573 2-3-04 and which has Key Numbers 025-1011-0189 and 025-1011-018901 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,petitioner has agreed to and has accepted responsibility to report any changes in the final legal description and to report the final, appropriate Key Number to the Department of Community Investment and to the Office of the City Clerk; 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 six(6)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 - 100% Year 3 - 100% Year 4 - 95% Year 5 - 95% Year 6 - 95% 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 City of South Bend ~�il Petition for Incentives Petition must include a$250 filing fee payable to the City Clerk's Office or online via the City's website at - 7A . http://southbendin"gov/government/content/tax-abatement before processing con becompiete1, in rt,,,rite ()rfiCe General Information Project Name Projectrtumber -- -- legal name as registered with Secretary of tt State 31 Nimtz Land LLC APR 0 1 %lin Business structure Limited Liability Company Company website www.holladayproperties.com KAREEMAH FOWLEF Proposed Project Information CITY CLERK,SOUTH BEN 7,IN Proposed project address 24605 Cleveland Road Parent company name Holladay Properties Qty,state,zip South Bend, IN 46628 Legal owner 31 Nimtz Land LLC Site acreage or acreage required 19 6 Is the real estate owned or Leased Ir�srd Square feet of facility 225,000 If leased by whom Speculative Primary Contact Information Primary company contact name Paul Phair O11e VP-Development Address of company contact 227 S.Main Street,Ste.300 Phone 574-217-4498 city,State,zip South Bend, IN 46601 Email pphair@holladayproperties.com Senior Official Information Company senior official name John Phair Title President Address of company contact(if different from 227 S. Main Street, Ste. 300 Phone 574-217-4475 abovel City,State,Zip South Bend,IN 46601 Email jphair@holladayproperties.com Consultant Information/Agent Hired business consultant agent name NIA Consultant release(Y/t4) Address Local economic development partners approval(Y/Nl City,State,Zip Email Project Overview Brief description of your company,protect,and why the The proposed project is an approximately 225,000 square foot property Is necessary for speculative industrial facility to be located in South Bend on the NW economic growth corner of US 31 and Nimtz Parkway. The construction investment anticipated is approximately$12.94 million, which does not include equipment and additional investment which may be made by future Tenants of the building. Due to the speculative nature of the building,we do not know specific job creation statistics, but we are moving forward with the building to specifically attract companies that are either 1. expanding their operations, or 2. establishing new operations in our community. We fully expect that new jobs will be created as a result of this new industrial building being constructed. Certified Technology Park appropriate N/A Is the project In a Tax Incremental Financing (TIF I area?If so.which? Yes -River West District Certify that the Building Permit has not been Yes Number of residential units created by 0 Issued IY/NI lect rno If this Is a petition for personal property tax abatement,has the equipment been Installed No Investment Details Public Infrastructure needs(Off- Has any 504 funding been What is the value of any equipment being purchased In What is the value of any equipment being site of project in dollars) - received? Indiana for the project? purchased from out of state for the project? N/A No Unknown-Speculative Development Unknown-Speculative Development New Project Investments Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 Land Acquisition 5911,00000 Building Lease Payments Building Purchase Costs New Building Construction I 9p25,000.0J S 3,005.000 GO Existing Building Improvements New Machinery&Equipment Special Tooling/Retooling New Furniture/Fixtures New Computer/IT Hardware New Software On•site Rail Infrastructure Onsite Fiber Infrastructure TOTAL $°.93©000 00 $3,005,900 00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Full-Time Permanent Indiana-Resident Positions by Calendar Year Calendar Year Jobs retained Total hourly Cumulative 4 of net NEW full time Hourly average wage,w/o Total training Total It 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 bonuses cumulative 2(119 Unknown 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Provide hourly wage information for new employees in the following positions. Full time Part time Laborers Unknown Technical Managerial Administrative Who will be the individual responsible for coordinating with WorkOne on recruiting? Does your campany have an EEO hiring policy? Are you an EEO employer? Please list the number of full time and part time minority and/or female employees for each of Please describe your commitment to the last three years: diversity and inclusion by detailing your Year outreach and recruitment efforts for the last three years as well as current policies. Full Time Part Time Full Time Part Time Full Time Part Time Black Hispanic Asian Indian 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. Please complete the table below with the appropriate information. If Qualify Earned Points Available Points (Yes or No) you qualify for the points,please enter the full amount of available points. 1 I Construction Related(Contractors) A. Employ LCcai C::imp;inies(75%) yes 20 20 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) n0 22 E. Require Health Benefits yes 22 22 F. Require Pension Benefits no 18 G. Maintain Affirmative Action Plan yes 20 20 Sub-total Construction Related: 101 141 2 Wage&Benefit Related(Owner) A. Pay Target Wage Levels 33 a. Provide Health Benefits 34 C. Provide Pension Benefits 29 D. Provide Training 28 E. Provide Child Care 15 r. Provide Transportation Assistance 14 G. Provide Employer Assisted Housing program 9 Sub-total Wage&Benefit Related: 0 162 3 Workforce Related: A. Create New Jobs 42 B. Retain Existing Jobs Yes 41 41 C. Maintain Affirmative Action Plan 35 D. Provide Targeted Hiring Preference 34 Sub-total Workforce Related: 41 152 4 Support a Municipal Facility: Support a SB Municipal Facility(donations to the A. zoo,conservatory,museum,etc.) Yes 84 Name of Facility Potawatomi Zoo ISub-total Municipal Facility: e4 84 Sub-total from Above: 226 539 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: I --1--!" - , Date: o3�Z`1 � 1`1 For Staff Use Only Below This Line 7? What Is the current assessed value? Real Property: ,9,� ' ('v> Personal Property: What is the projected assessed value? Real Property: •�f"fJl / Personal Pro e P MY What is the tax key number for this project? — _/`' ,((^ ( y G, G What is the six digit NAILS cede? Please attach a Google map and street view of the location. Please list the amount of real and personal property taxes Real Property Taxes: Personal Property Taxes: paid for the last five years when applicable. Year One Year Two Year Three Year Four Year Five Please fill out the following Public Benefit Summary Information and add to total from above. JY or Nj Points Points Public Benefit Item: Project Related: 5 A. Redevelop a Site that has Special Needs _ 49 r - B. Develop Based on Local University Research 35 C. Achieve a Physical Element of a Plan r 36 Sub-total Project Related: 120 6 Super Size Projects 1 jpoint values are cumulative); A. 100%to 199% t,{ 25 B. 200%to 299% (-�dfr 6B C. 300%to399% c; r 65 D. 400%and Over 52 ISub-total Super Size Projects: <.!( ' - 210 ? Pay for Municipal Infrastructure: A. Pay for Oversizing or Upgrading — 14 B. Pay for 26-50%of Extension Cost 26 C. Pay for 51-75%of Extension Cost — 39 D. Pay for 76-1D0%of Extension Cost 52 Sub-total infrastructure Related: 131 (Total from Applicant Section: X 539 Total from Staff Section: 1{i' 461 Total Public Benefit Points: 6 1000 Filed in Clerk's Office rt STATEMENT OF BENEFITS 20 PAY 20 REAL ESTATE IMPROVEMENTS APR 41 20191 - State Form 51767(Rs 110-14) f FORM SB-1 f Real Property Prescribed by the Department of Local Government Finance - YA/ILEiVIA1.1 FOWLERPRIVACY NOTICE This statement Is being completed for real properly thatquallfles under thelollorglrgph(;j11Q9-[Q tegfArlbbrt4)1 Any Information Concerning the cost or the property and specific salaries ❑Redevelopment or rehabilitation of real estate Improvements(IC 6-1.1-12.1-4) - — paid to individual employees by the ❑Residentially distressed area(IC 6-1.1-12.1-4.1) roperty owner is confidential per IC 6-1.1-12.1-5.1. 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. Otherwise,this statement must be 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 the redevelopment or rehabilitation for which the person desires to claim a deduction. 3. To obtain a deduction,a Form 322/RE must be filed with the County Auditor before May 10 in the year In which the addition to assessed valuation is made or not later than thirty(30)days after the assessment notice Is mailed to the property owner flit was mailed after April 10. A properly owner who felled to file a deduction application within the prescribed deadline may file or application between March 1 grid Pity 10 of a subsequent year 4. A property owner who files for the deduction must provide Me County Auditor arid designating body with a Form CF-1/Real Properly. The Form CF-f/Real Property should be attached to the Form 322/RE when the deduction is first claimed and then updated annually for each year the deduction is applicable. IC 6-1.1-12.1-5.1(b) 5. 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. For a Form SB-1/Real Property that Is approved prior to July 1,2013,the abatement schedule approved by the designating body remains in effect. IC 6-1.1-12.1-17 SECTION 1 TAXPAYER INFORMATION Name of taxpayer 31 Nimtz Land LLC Address of taxpayer(number and street,dig state,and 2/P coda) 227 S. Main Street,Ste. 300, South Bend, IN 46601 Name of contact person Telephone number E-mall address ( ► ( ) 574-217-4498 pphair@holladayproperties SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Mune of drsignohnp body Resolution number City of South Bend Location of property I County OLOF taxing district number 24605 Cleveland Road,South Bend, IN St.Joseph Cescupt on of real property fmpraven:enls,redevelopment,or rehabilitaien(use add Donal sheeN d necessary) Estimated start date(month.day,year) (July 1,2019 The proposed project is an approximately 225,000 square foot industrial facility to be locate Estimated completion date(month,day,year) March 31,2020 SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT Current number Salaries Number retained Salaries Number additional Salvias Unknown SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS COST ASSESSED VALUE Current values 15208.400 I Plus estimated values of proposed project I$12,940.000 Less values of any property being replaced I$0 l Net estimated values upon com.letion of.rolecl 12 940.000 SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER Estimated solid waste converted(pounds) Estimated hazardous waste converted(pounds) Other benefits SECTION 6 TAXPAYER CERTIFICATION I hereby certify that the representations In this statement are true. ti gra tauthor...e.d.re,presentative Date signed(=nib day.year) Pdn name of authorized representative Tills /L��f i I Page 1 of 2 .FOR USE OF THE DESIGNATING BODY We find that the applicant meets the general standards In the resolution adopted or to be adopted by this body. Said resolution,passed or to be passed under IC 6-1.1-12.1,provides for the following limitations: A. The designated area has been limited to a period of time not to exceed calendar years*(see below). The date this designation expires Is B. The type of deduction that is allowed in the designated area Is limited to: 1.Redevelopment or rehabilitation of real estate Improvements ❑Yes ❑No 2.Residentially distressed areas D Yes ❑No C. The amount of the deduction applicable Is limited to$ D. Other limitations or conditions(specify) E. Number of years allowed: ❑Year 1 Year 23 Year ❑ 0 Year 4 D Year 5 ('see below) ❑Year 6 D Year 7 0 Year 8 ❑Year 9 ❑ 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 ONo 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. Approved(signatum and(file or authorized member of dosignahng body) Telephone number I Date signed(monfn,day,year) Printed name of authorized member of designating body Name of designating body Attested by(signature and title or attester) Printed name of attester * 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 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. 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 len (10)years. (See IC 6-1.1-12.1-17 below.) B. For the redevelopment or rehabilitation of real property where the Form SB-1/Real Property was approved prior to July 1,2013,the abatement schedule approved by the designating body remains In effect.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.(See IC 6-1.1-12.1-17 below.) 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) This subsection applies to a statement of benefits approved after June 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 schedule approved for a 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 „,-_-.4.. *''N.,."--_-,.._ '' 4:_i . ' 110141 —dWV2�:dV�Vt1— `' F ' , J LU "c7 CL ' ) C Qa . i o CO I.. Z r M ,r < H • OOH S. * , . il 1 .,:' , e , t4tur • 9 ilL- 1111.100L' ' ' I • .•. - i ) i o 4, rst H U Ta. o c d a w N i M c.v'0 5 ', O+ OVI cVI O 4 6 03 VI TY,. pp 8 '- o U y c . E 0. a v A o . �.1 3 N ,o := ,a rn 4 z ' a o v' � $ o C M N a "'.1 g 14 g o O '” RI 2 ` . fal CA VI h C 'z 6. �. 'a u` C M N vl N U .8 b • 0 4 C7 00 O oo E N oo O `. 3 v) y 'v N 0 l-- cn N Q Cl) Cr) L CA 69 N a O W co O I E y floo a6. = L •O� '= .7 b ►� 0 3 b q d d . d 0 Is .N �., RL` Q C a ° a 2 S o m . b U. a. e O CD y s z .- L > > a� •• — 0 U � aa d F F as d d .1 . E c r i•' ti _ - — {fr )- .s:• "'". 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