(A) Warehouse 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 warehouse development within the county, and would warrant tax abatement consideration as set forth herein.
(1) Three-year general standards; new construction and rehabilitation. Proposed warehouse development of new construction, or rehabilitation, with a hard dollar cost of not less than $750,000 may be considered for three-year real property tax abatement.
(2) Six-year general standards; new construction and rehabilitation. Proposed warehouse development of new construction, or rehabilitation, with a hard dollar cost of not less than $1,500,000 may be considered for six-year real property tax abatement.
(3) Ten-year general standards; new construction and rehabilitation. Proposed warehouse development of new construction, or rehabilitation, with a hard dollar cost of not less than $3,000,000 may be considered for ten-year real property tax abatement.
(B) Compliance with state law. All applicants seeking real property tax abatement consideration under this section must also comply with all applicable retaliations set forth in I.C. 6-1.1-12.1-1 et seq.
(Council Ord. 97-37, passed 10-7-1997)