Laserfiche WebLink
(d) Residentially distressed area designation. The grant of a residentially distressed <br />area designation is subject to the following conditions: <br />(1) The deduction will not be allowed unless the dwelling is constructed to meet the <br />local code standards for habitability. <br />(2) If a designation application is filed, the Council may require that the construction be <br />completed within a reasonable period. <br />Sec. 2 -842. Tangible personal property tax abatement. <br />(a) Generally. The Council believes that the following general standards have a <br />reasonable relationship to the development objectives of promoting the installation of New <br />Personal Property in urban development areas within the City's corporate boundaries, and would <br />warrant tax abatement consideration as set forth herein. <br />(b) Base abatement general standards. <br />(1) An applicant seeking personal property tax abatement must comply with all of the <br />provisions of IC 6 -1.1- 12.1 -4.5, and the provisions of division I I that are applicable. <br />(2) An applicant complying with such provisions may be considered for a base <br />abatement consisting of five (5) years personal property tax abatement. In the case of <br />exceptional developments that create significant employment and tax revenues such as <br />I/N Tek UN Kote and the AM General H2 project, the Council may consider a personal <br />ro erty tax abatement of up to ten (10) years. <br />(c) Certification of New Manufacturing Equipment, New Research and Development <br />Equipment, New Logistical Distribution Equipment and New ,Information Technology <br />Equipment. An applicant seeking personal property tax abatement must certify that it will use <br />the New Manufacturing Equipment, New Research and Development Equipment, New <br />Logistical Distribution Equipment and New Information Technology Equipment in one (1) or <br />more of the uses listed within the definition of New Manufacturing Equipment, New Research <br />and Development Equipment, New Logistical Distribution Equipment and New Information <br />Technology Equipment set forth in IC 6 -1.1 -12.1 et seq. <br />(d) No add -on abatement. No add -on abatement will be granted for personal property <br />Sec. 2 -84.7: Designation application required. <br />(a) Owners must. file. Owners of real property or new manufacturing equipment located <br />within the City may petition the Council on forms provided by the City Clerk for real or personal <br />property tax abatement consideration. All information and attachments required by the <br />21 <br />