(A) After review of the information provided in the application, the Common Council may find that the real estate under consideration meets the definition and standards of an economic revitalization area as defined in IC 6-1.1-12.1-1(1) as amended. In such case the Common Council shall pass a resolution declaring the area an economic revitalization area. The declaring resolution must:
(1) Contain a description of the affected area.
(2) Note whether the application is for real property improvements and/or personal property improvements.
(3) Be filed with the Allen County assessor.
(4) Include a determination of the period of deduction allowed per IC 6-1.1-12.1-3(d).
(B) After approval of a declaratory resolution, the Common Council shall publish notice in accordance with IC 5-3-1, as amended. The notice must state that a description of the affected area is available and can be inspected in the county assessor's office. The notice must also name a date when the Common Council will hold a public hearing for the purpose of receiving and hearing any and all remonstrances and objections from interested persons. In addition, the Common Council shall file this information, and a notice containing a Statement of Benefits Form with the officers of each affected taxing unit with authority to fix budgets, tax rates, and tax levies under IC 6-1.1-17-5, at least ten days prior to the date of the public hearing.
(C) In reviewing the evidence, the Common Council shall also review the Statement of Benefits Form. The Common Council shall determine whether the area should be designated an economic revitalization area and/or whether a deduction should be allowed for the project, based on (and after it has made) the following findings:
(1) Whether the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of that nature and whether the estimate of the cost of the new manufacturing equipment and/or research and development equipment and/or logistical distribution equipment and/or information technology equipment (if applicable) is reasonable for equipment of that type.
(2) Whether the estimate of the number of individuals who will be employed or whose employment will be retained can be reasonably expected to result from the proposed described project, or
(3) If the designation is for new manufacturing equipment used to dispose of solid waste or hazardous waste by converting the solid waste or hazardous waste into energy or other useful products, whether the estimate of the amount of solid waste or hazardous waste that will be converted into energy or other useful products can be reasonably expected to result from the installation of the new manufacturing equipment.
(4) Whether the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained can be reasonably expected from the proposed described project.
(5) Whether any other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described project.
(6) Whether, in the case of an economic revitalization area designation for an eligible vacant building as defined under IC 6-1.1-12.1(17):
(a) The estimate of the number of individuals who will be employed or whose employment will be retained can be reasonably expected to result from the proposed occupation of the eligible vacant building.
(b) The estimate of the annual salaries of those individuals who will be employed or whose employment will be retained can be reasonably expected to result from the proposed occupation of the eligible vacant building.
(c) Any other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed occupation of the eligible vacant building.
(d) The occupation of the eligible vacant building will increase the tax base and assist in the rehabilitation of the economic revitalization area.
(7) Whether the totality of benefits is sufficient to justify the deduction.
(D) After considering all evidence presented, the Common Council shall take final action to determine whether the qualifications for an economic revitalization area have been met and to confirm, modify and confirm, or rescind the declaratory resolution. Such action may include:
(1) Adoption by confirmation of the declaratory resolution. The confirming resolution shall include the reasons upon which the determination is made.
(2) A finding that there is insufficient information and a deferral of action on the matter. The applicant shall be provided written notice of the reasons for deferral within ten days of that action.
(3) A determination that the real estate should not be designated as an economic revitalization area. The applicant shall be provided with written notice thereof.
(E) Upon confirming, or modifying and confirming a declaratory resolution by the procedures set forth herein, both the Allen County Auditor and the Common Council shall keep a permanent record of the designation of the subject economic revitalization area. Common Council shall also provide the Allen County Auditor with a final designation packet to be utilized in the review of applications for deduction pursuant to IC 6-1.1-12.1-5.
(Ord. G-05-97, passed 4-8-97; Am. Ord. G-23-00, passed 9-12-00; Am. Ord. G-19-04, passed 9-14-04; Am. Ord. G-16-08, passed 12-9-08; Am. Ord. G-8-18, passed 4-24-18)