(A) A person seeking to have property deemed an Economic Revitalization Area for the purpose of obtaining real property tax abatement pursuant to I.C. § 6-1.1-12.1 or for new manufacturing equipment, new research and development equipment, new logistical distribution equipment, or new information technology equipment located or to be located in the city shall petition the City Council for designation as such by filing an application with the City Clerk.
(B) The application shall include:
(1) Real property tax abatement applications. For designation as an Economic Revitalization Area for real property tax abatement:
(a) A statement of benefits which includes the following information:
1. A description of the proposed redevelopment or rehabilitation;
2. An estimate of the number of individuals who will be employed or whose employment will be retained by the person as a result of the redevelopment or rehabilitation and an estimate of the annual salaries of these individuals; and
3. An estimate of the value of the redevelopment or rehabilitation.
(b) The name and address of the applicant(s);
(c) The name and address of the present owner of the real property;
(d) The name and address of the persons who will own said real property when approved;
(e) The legal description and commonly known address of the real property for which the designation is being petitioned;
(f) A map or plat designating the area in question for consideration;
(g) A description of the intended improvement;
(h) The assessed value of the improvement before rehabilitation or development and the estimated value after improvement or installation;
(i) Verification of any present zoning classifications and other applicable use restrictions of the real property;
(j) A statement verifying that the area in question has become undesirable for, or impossible of, normal development and occupancy because of a lack of development, cessation of growth, deterioration of improvements, or character of occupancy, age, obsolescence, substandard buildings, or other factors which have impaired values or prevent a normal development of property or use of property, or, that the area in question is an area where a facility or a group of facilities that are technologically, economically, or energy obsolete are located and where the obsolescence may lead to a decline in employment and tax revenues, or, a residentially distressed area.
(k) A statement estimating the number of new permanent full-time and part-time jobs which will be created by this project within the next five years and the number of current jobs retained, that would otherwise be in jeopardy, as a result of the tax abatement;
(l) The amount of the capital investment; and
(m) A statement that the application is made in good faith and that the information presented is accurate and represents the conditions that exist or are anticipated to exist at the time of the filing of the application.
(2) Personal property tax abatement applications. For designation of personal property as new manufacturing equipment, new research and development equipment, new logistical distribution equipment, or new information technology equipment for personal property tax abatement:
(a) A statement of benefits which includes the following information:
1. A description of the new manufacturing equipment, new research and development equipment, new logistical distribution equipment, or new information technology equipment that the applicant proposes to acquire;
2. Except in the case of equipment used to dispose of hazardous waste, an estimate of the number of individuals who will be employed or whose employment will be retained by the person as a result of the installation of the new manufacturing equipment, new research and development equipment, new logistical distribution equipment, or new information technology equipment and an estimate of the annual salaries of these individuals;
3. An estimate of the cost of the new manufacturing equipment, new research and development equipment, new logistical distribution equipment, or new information technology equipment;
4. In the case of equipment used to dispose of hazardous waste, all other disclosures required by I.C. § 6-1.1-12.1-4.5.
(b) The name and address of the applicant(s);
(c) The name and address of the seller of the new manufacturing equipment, new research and development equipment, new logistical distribution equipment, or new information technology equipment;
(d) The name and address of the persons who will own said new manufacturing equipment, new research and development equipment, new logistical distribution equipment, or new information technology equipment when approved or installed;
(e) The legal description and commonly known address of the real property where the new manufacturing equipment, new research and development equipment, new logistical distribution equipment, or new information technology equipment will be installed;
(f) A description of the intended new manufacturing equipment, new research and development equipment, new logistical distribution equipment, or new information technology equipment;
(g) Verification of any applicable use restrictions of the new manufacturing equipment, new research and development equipment, new logistical distribution equipment, or new information technology equipment;
(h) A statement estimating the number of new permanent full-time and part-time jobs which will be created by this project within the next five years and the number of current jobs retained, that would otherwise be in jeopardy, as a result of the tax abatement;
(i) The amount of the capital investment; and
(j) A statement that the application is made in good faith and that the information presented is accurate and represents the conditions that exist or are anticipated to exist at the time of the filing of the application.
(Ord. 11-2009, passed 5-12-09)