(A) Declaration of an economic revitalization area will be considered for projects in the following categories:
(1) Manufacturing;
(2) Warehousing and distribution;
(3) New research and/or high technology facilities;
(4) Renovation of vacant manufacturing facilities;
(5) Office buildings;
(6) Recreational and commercial (retail) facilities as defined in I.C. 6-1.1-12.1-3(e) that are located in an economic development target area which have been designated by the Economic Development Commission and the County Council pursuant to I.C. 6-1.1-12.1-7;
(7) New manufacturing equipment; and
(8) New research and development equipment.
(B) An application for declaration as an economic revitalization area shall meet one or more of the following criteria:
(1) The property, or area, is 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 or use of property.
(2) A property or area which includes a facility or a group of facilities that are technologically, economically, or energy obsolete and where the obsolescence may lead to a decline in employment and tax revenues.
(C) An application shall also address at least one of the following development objectives:
(1) Generate the use of vacant or underutilized land;
(2) Rehabilitate or replace obsolete, deteriorated, vacant or underutilized buildings;
(3) Retain or expand job opportunities; or
(4) Preserve historically or architecturally significant properties.
(D) Exclusions. Certain areas of the county have been, or may in the future be, designated as "tax allocation areas" pursuant to I.C. 36-7-14-39, through the adoption of redevelopment plans with tax increment financing provisions. Areas within a tax allocation area shall not be considered for declaration as an economic revitalization area unless said tax phase-in is approved by a resolution of the County Redevelopment Commission. At the time of the adoption of this resolution, the following areas of the county were designated as tax allocation areas.
(1) Epworth Road Economic Development Area; and
(2) State Route 62 Economic Development Area.
(CC Res. 2006-07, passed 5-4-06)