(A) Generally. The Town Council believes that the following general standards have a reasonable relationship to the development objectives for industrial development town-wide, and would warrant tax abatement consideration as set forth herein.
(B) Three-year general standards. New construction: proposed industrial developments which incorporate new construction of not less than 10,000 square feet, may be considered tor three-year real property tax abatement.
(C) Six-year general standards. New construction: proposed industrial developments which incorporate new construction of not less than 20,000 square feet, may be considered for six-year real property tax abatement.
(D) Ten-year general standards. New construction: proposed industrial developments which incorporate new construction of not less than 30,000 square feet, may be considered for ten-year real property tax abatement.
(E) 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. 6-1.1-12.1-1 et seq.
(F) 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. 6-1.1-12.1-1 et seq.
(Ord. 5-97, passed 3-24-1997)