(A) For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
DESIGNATING BODY. The County Council.
ECONOMIC REVITALIZATION AREA (ERA). An area which is within the limits of the county which has become undesirable, or impossible, for 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. The term ECONOMIC REVITALIZATION AREA (ERA) shall also include any area where a facility, or a group of facilities, that is technologically, economically, or energy obsolete is located, and where the obsolescence may lead to a decline in employment and tax revenues.
HARD DOLLAR COSTS. Expenses directly related to the proposed new construction or rehabilitation, excluding costs of financing, architect, engineering, and attorney fees. For the purposes of this subchapter, the HARD DOLLAR COST is that cost certified on the Statement of Benefits (Form SB-1), Section 4, “Net Estimated Values Upon Completion of Project”.
INDUSTRIAL DEVELOPMENT. Includes those definitions set forth in major groups 20 through 39 of the Standard Industrial Classification Manual (SIC), published by the United States Office of Management and Budget, which manual is hereby incorporated by reference, with copies being maintained in the Office of the Executive Director of the County Economic Development Partnership.
INSTITUTIONAL DEVELOPMENT. The development of any educational facilities.
MIXED USE. Any mix of two or more of the following uses only: office, institutional, or industrial.
NEW MANUFACTURING EQUIPMENT. Tangible personal property which:
(a) Is installed during the period beginning March 1, 1983, and ending December 31, 1993, in an area that is declared an Economic Revitalization Area after February 28, 1983, in which a deduction for tangible personal property is allowed;
(b) Is used in the direct production, manufacture, fabrication, assembly extraction, mining, processing, refining, or finishing of other tangible personal property; and
(c) Was acquired by its owner for use as described in division (B) above, and was never before used by its owner for any purpose in the state.
PROPERTY. A building or structure, but shall not include land.
REDEVELOPMENT. The construction of new structures in Economic Revitalization Areas, either:
(a) On unimproved real estate; or
(b) On real estate upon which a prior existing structure is demolished to allow for a new construction.
REHABILITATION. The remodeling, repair, or betterment of property in any manner, or any enlargement of extension of property.
TAX ABATEMENT COMMITTEE.
(a) The Committee established pursuant to this subchapter to review petitions for tax abatement consisting of five members as follows:
1. The Executive Director of the County Economic Development Partnership;
2. A member of the County Area Plan Commission, as designated by the Plan Commission;
3. A member of the County Redevelopment Commission, as designated by the Redevelopment Commission;
4. A member of the County Economic Development Commission, as designated by the Economic Development Commission; and
5. A Superintendent of Schools from one of the six school districts within the county as designated by the Superintendents.
(b) All members shall serve on such committee until they resign, or are replaced with a successor designated by the appropriate commission or organization.
WAREHOUSE DEVELOPMENT. Includes those definitions set forth in major groups 42, 50, and 51 of the Standard Industrial Classification Manual (SIC), published by the United States Office of Management and Budget, which manual is hereby incorporated by reference with copies being maintained in the Office of the Executive Director of the County Economic Development Partnership.
(B) Any terms not specifically defined in this section shall have the meanings ascribed to them in I.C. 6-1.1-12.1-1 et seq.
(Council Ord. 97-37, passed 10-7-1997)