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§ 36.31 GENERAL STANDARDS AND REQUIREMENTS.
   (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)
§ 36.32 TAX DEDUCTION – REAL ESTATE.
   (A)   Application. Pursuant to I.C. 6-1.1-12.1-5, the owner of property which has been declared to be an economic revitalization area and who desires to obtain the tax deduction provided by I.C. 6-1.1-12.1-3 for "property" must file a certified deduction application, on forms prescribed by the State Board of Tax Commissioners, with the County Auditor before May 10 (except as otherwise provided in I.C. 6-1.1-12.1-5(b) or (e)) of the year in which the addition to the assessed value is made.
   (B)   Length of deduction.
      (1)   For projects for which the statement of benefits was approved July 1, 2000, or after except as provided in I.C. 6-1.1-12.1-3(a), for redevelopment or rehabilitation is eligible for a deduction from the increase in assessed value for a period of one to ten years.
      (2)   For projects for which the statement of benefits was approved before July 1, 2000, for redevelopment or rehabilitation is eligible for a deduction from the increase in assessed value for periods of three, six, or ten years.
(CC Res. 2006-07, passed 5-4-06)
§ 36.33 TAX DEDUCTION – MANUFACTURING EQUIPMENT.
   (A)   Application. Pursuant to I.C. 6-1.1-12.1-5.5, the owner of property which has been declared to be an economic revitalization area and who desires to obtain the tax deduction provided by I.C. 6-1.1-12.1-4.5 for "new manufacturing equipment" must file a certified deduction application, on forms prescribed by the State Board of Tax Commissioners with the County Auditor and with the State Board of Tax Commissioners. A deduction application must be filed in the year in which the new manufacturing equipment is installed and in each of the following years for which abatement is sought.
   (B)   Length of deduction. For projects for which the statement of benefits was approved July 1, 2000, or after except as provided in I.C. 6-1.1-12.1-4.5(g), an owner of new manufacturing equipment is eligible for a deduction from the assessed value of that equipment for a period of one to ten years.
(CC Res. 2006-07, passed 5-4-06)
§ 36.34 TAX DEDUCTION – NEW RESEARCH AND DEVELOPMENT EQUIPMENT.
   (A)   Application. Pursuant to I.C. 6-1.1-12.1-5.5, the owner of property which has been declared to be an economic revitalization area and who desires to obtain the tax deduction provided by I.C. 6-1.1-12.1-4.5 for "new research and development equipment" must file a certified deduction application, on forms prescribed by the State Board of Tax Commissioners with the County Auditor and with the State Board of Tax Commissioners. A deduction application must be filed in the year in which the new research and development equipment is installed and in each of the following years for which phase-in is sought.
   (B)   Length of deduction. For projects for which the statement of benefits was approved July 1, 2000, or after except as provided in I.C. 6-1.1-12.1-4.5(g), an owner of new research and development equipment is eligible for a deduction from the assessed value of that equipment for a period of one to ten years.
(CC Res. 2006-07, passed 5-4-06)
§ 36.35 SUBSEQUENT STATEMENTS OF BENEFITS.
   In the event that a business decides to initiate an additional investment which was not included in its tax phase-in application and is of the same type of investment (real estate improvements, new manufacturing equipment or research and development equipment) for which the economic revitalization area was designated and said designation is still in effect, the business shall submit a new statement of benefits form to the Department before initiating (as discussed in § 36.30) the additional investment. The Department shall prepare a resolution for County Council action to approve the subsequent statement of benefits.
(CC Res. 2006-07, passed 5-4-06)
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