(A) Industrial development standards. The County Council believes that the following general standards in divisions (A)(1) through (A)(3) below have a reasonable relationship to the development objectives for industrial development within the county, and would warrant tax abatement consideration as set forth herein.
(1) Three-year general standards; new construction. Proposed industrial developments which incorporate a new construction hard dollar cost of not less than $200,000 may be considered for three-year real property tax abatement.
(2) Six-year general standards; new construction. Proposed industrial developments which incorporate a new construction hard dollar cost of not less than $400,000 may be considered for six-year real property tax abatement.
(3) Ten-year general standards; new construction. Proposed industrial developments which incorporate a new construction hard dollar cost of not less than $600,000 may be considered for ten-year real property abatement.
(B) Compliance with state law. All applicants seeking real property tax abatement consideration under this section must comply with all applicable regulations set forth in I.C. 6-1.1-12.1-1 et seq.
(Council Ord. 97-37, passed 10-7-1997)