(A) Application for designation of economic revitalization area.
(1) Any person seeking tax abatement pursuant to I.C. 6-1.1-12.1-1 through 6-1.1-12.1-5 for property or new manufacturing equipment located or to be located in the city shall petition the Council for designation of the location of that property or new manufacturing equipment as an economic revitalization area by filing an application with the City Clerk. The application shall include the following information:
(a) The name and address of applicants;
(b) The name and address of the present owner of the property or the intended owner of the new manufacturing equipment;
(c) The name and address of the person who will own said property and/or new manufacturing equipment when approved or installed;
(d) The legal description and commonly known address of the property for which the designation is being petitioned;
(e) A map or plat designating the area in question for consideration;
(f) A description of the intended improvement or new manufacturing equipment;
(g) The assessed value of the improvement before rehabilitation or development and the estimated value after improvement or installation;
(h) Verification of the present zoning classification of the location of the property or new manufacturing equipment;
(i) A statement verifying that the area in question has become undesirable for, or impossible of, 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 or that the area in question is an area where a facility or a group of facilities that are technologically, economically or energy obsolete are located and where the obsolescence may lead to a decline in employment and tax revenues;
(j) A statement estimating the number of new permanent full time and part time jobs which will be created by this project or retained as a result of this project;
(k) The assessed value of the new structure in the case of redevelopment;
(l) The amount of deduction claimed for the first year of deduction;
(m) A statement that the application is made in good faith and that the information presented is accurate and represents the conditions that exist or are anticipated at the time of filing the application.
(2) At the time of filing that application, the applicant shall pay a non-refundable fee which shall be as follows:
(a) For owner-occupied, single-family projects, a sum equivalent to the cost of publishing notice pursuant to I.C. 6-1.1-12-1-2.5;
(b) For all other applicants:
Project Cost | Fee |
Less than $25,000 | $50 |
$25,000 - $74,999.99 | $150 |
$75,000 - $499,999.99 | $300 |
$500,000 - $999,999.99 | $500 |
$1,000,000 or more | $1,000 |
(B) Procedure after application filed.
(1) The City Clerk shall, immediately upon accepting a filed application and receiving the fee as herein provided, send a copy of the application to the Tax Abatement Review Committee of the Council.
(2) The Tax Abatement Review Committee shall review that application and shall:
(a) Determine conformity of the application with division (A) of this section;
(b) Investigate the accuracy of the information contained in the application; and
(c) Do all things which, in the discretion of the Tax Abatement Review Committee, will assist the Council in considering the subject application, including reporting to the Council the results of the Committee investigation.
(3) No later than 30 days after an application is filed with the City Clerk, the City Clerk shall place the application on the agenda for the next meeting of the Council.
(4) When an application has been placed on the agenda of the Council the procedure established in I.C. 6-1.1-12.1-2.5 shall be followed.
(C) Exclusions.
(1) Designation of economic revitalization areas shall be disallowed if:
(a) The applicant for designation is not owner of the property except upon presentation of a bona fide offer to purchase contingent upon that designation or if the designation is limited to new manufacturing equipment;
(b) On-site construction work has begun on real property improvements, except surveying, soil testing, topographic analysis, archeological excavation, water table testing, the drilling of wells or environmental impact analysis; or
(c) New manufacturing machinery or equipment has been installed; or
(d) Any other activity has occurred which is deemed by Council to render the economic revitalization area designation unnecessary to the success of the project.
(2) The Council may waive the exclusions set forth in this division if final action by the Council on the application is delayed for reasons beyond the control of the applicant and that delay creates an economic hardship upon applicant.
(D) Applicability of state law. All other procedures for filing a tax abatement shall be consistent with the I.C. 6-1.1-12.1-1 through I.C. 6-1.1-12.1-6, as it may be amended from time to time.
(1985 Code, § 6-1.1-12.1-1) (Ord. 2-1981, passed 3-18-1981; Am. Ord. 12-1981, passed 5-22-1981; Am. Ord. 45-1981, passed 1-7-1982; Am. Ord. 1-1983, passed 2-2-1983; Am. Ord. 5-1984, passed 3-21-1984; Am. Ord. 22-1985, passed 9-25-1985)
Statutory reference:
Economic revitalization areas, see I.C. 6-1.1-12.1-1