In the event the Town Council determines that an area is to be declared an economic revitalization area, then the Council shall set forth:
(A) The general standards which shall apply for the area;
(B) Time limits as to the declaration regarding the area;
(C) Limits as to the type of deductions allowed; and
(D) Such other matters as may be required by statute.
(1985 Code, § 2-6-5) (Ord. 58, passed 5-7-1985; Ord. 94, passed 6-4-1990)