(A) Generally. The Town Council believes that the following general standards have a reasonable relationship to the development objectives for institutional development within the town, and would warrant tax abatement consideration as set forth herein.
(B) Three-year general standards. New construction only: proposed new construction of institutional developments which are to be located within the town may be considered for three-year real property tax abatement.
(C) Compliance with state law. All applicants seeking real property tax abatement consideration under this section must also comply with all applicable regulations set forth in I.C. 6-1.1-12.1-2 et seq.
(Ord. 5-97, passed 3-24-1997)