(A) If tax abatement is granted, then the duration of the abatement is determined as follows:
(1) For new manufacturing equipment tax abatement, determine the total points earned by the applicant as follows:
(a) Capital investment or percent of assets (choose higher points):
$0.00 to $250,000.00 | 0-5% | 5 points |
$250,001 to $500,000.00 | 6-10% | 10 points |
$500,001.00 to $1 million | 11 -15% | 15 points |
$1 million to $2 million | 16-20% | 20 points |
$2 million and higher | 21% + | 25 points |
(b) Anticipated new full time employment within five years:
5 to 20 employees | 10 points |
21 to 40 employees | 15 points |
41 to 60 employees | 20 points |
61 to 80 employees | 25 points |
81 employees + | 30 points |
(c) Anticipated new part time employees within five years:
5 to 20 employees | 5 points |
21 to 40 employees | 10 points |
41 employees + | 15 points |
(d) If tax abatement is not granted, how many jobs will be lost or jeopardized:
1 to 10 employees | 10 points |
11 to 20 employees | 15 points |
21 to 30 employees | 20 points |
31 to 40 employees | 25 points |
41 employees + | 30 points |
(e) Wage level:
Less than Lawrence County average wages (+/-5%) (as determined by the Indiana Dept. of Workforce Dev.) | 0 points |
Equal to same | 3 points |
6% to 19% greater than same | 7 points |
20% + than same | 10 points |
(f) Benefits level:
Value of benefits equal to or greater than base pay up to 25% | 0-25 points |
(g) Use, re-use, rehabilitation, and/or expansion of an existing facility: 0 to 15 points.
(h) The applicant is deemed a “good fit” for the city (that is, environmentally friendly, high technology industry, enhances economic diversification, etc.): 0 to 30 points.
(i) Company involvement in, and support for, neighborhood and community activities: 0 to 10 points.
(j) Economic need for, and impact of, requested abatement: 0 to 30 points.
(2) For real property tax abatement, determine the total points earned by the Applicant as follows:
(a) Capital investment or percent of assets (choose higher points):
$0.00 to $500,000.00 | 0-5% | 5 points |
$500,001.00 to $1 million | 6-10% | 10 points |
$1 million to $3 million | 11 -15% | 15 points |
$3 million to $5 million | 16-20% | 20 points |
$5 million and higher | 21% + | 25 points |
(b) Anticipated new full-time employment within five years:
5 to 20 employees | 10 points |
21 to 40 employees | 15 points |
41 to 60 employees | 20 points |
61 to 80 employees | 25 points |
81 employees + | 30 points |
(c) Anticipated new part-time employees within five years:
5 to 20 employees | 5 points |
21 to 40 employees | 10 points |
41 employees + | 15 points |
(d) If tax abatement is not granted, how many jobs will be lost or jeopardized:
1 to 10 employees | 10 points |
11 to 20 employees | 15 points |
21 to 30 employees | 20 points |
31 to 40 employees | 25 points |
41 employees + | 30 points |
(e) Wage level:
Less than Lawrence County average wages (+/-5%) (as determined by the Indiana Dept. of Workforce Dev.) | 0 points |
Equal to same | 3 points |
6% to 19% greater than same | 7 points |
20% + than same | 10 points |
(f) Benefits level:
Value of benefits equal to or greater than base pay up to 25% | 10 points |
(g) Use, re-use, rehabilitation, and/or expansion of an existing facility: 0 to 15 points.
(h) The applicant is deemed a “good fit” for the city (that is, environmentally friendly, high technology industry, enhances economic diversification, etc.): 0 to 30 points.
(i) Company involvement in, and support for, neighborhood and community activities: 0 to 10 points.
(j) Economic need for, and impact of, requested abatement: 0 to 30 points.
(3) Duration of tax abatement shall be determined by applying applicant’s total score above to the following scale:
Point Score | Maximum Length of Abatement |
10 or less | 1 year |
11 to 20 | 2 years |
21 to 30 | 3 years |
31 to 40 | 4 years |
41 to 51 | 5 years (Max. for residentially distressed area) |
51 to 61 | 6 years |
61 to 71 | 7 years |
71 to 81 | 8 years |
81 to 91 | 9 years |
91 + | 10 years |
(4) In the event applicant is applying for both real property and new manufacturing equipment tax abatement, the maximum duration of tax abatement for each will be separately determined by the criteria above (that is, scores for personal property and real property abatement shall not be added together to determine maximum tax abatement duration).
(5) The amount of tax abatement, if granted, shall be consistent with I.C. § 6-1.1-12.1-4.
(Ord. 11-2009, passed 5-12-09)