may be incorporated in a designation application. Notwithstanding any
other law, a statement of benefits is a public record that may be
inspected and copied under
IC 5-14-3-3.
(b) The designating body must review the statement of benefits
required under subsection (a). The designating body shall determine
whether an area should be designated an economic revitalization area
or whether a deduction should be allowed, based on (and after it has
made) the following findings:
(1) Whether the estimate of the value of the redevelopment or
rehabilitation is reasonable for projects of that nature.
(2) Whether the estimate of the number of individuals who will be
employed or whose employment will be retained can be
reasonably expected to result from the proposed described
redevelopment or rehabilitation.
(3) Whether the estimate of the annual salaries of those
individuals who will be employed or whose employment will be
retained can be reasonably expected to result from the proposed
described redevelopment or rehabilitation.
(4) Whether any other benefits about which information was
requested are benefits that can be reasonably expected to result
from the proposed described redevelopment or rehabilitation.
(5) Whether the totality of benefits is sufficient to justify the
deduction.
A designating body may not designate an area an economic
revitalization area or approve a deduction unless the findings required
by this subsection are made in the affirmative.
(c) Except as provided in subsections (a) through (b), the owner of
property which is located in an economic revitalization area is entitled
to a deduction from the assessed value of the property. If the area is a
residentially distressed area, the period is not more than five (5) years.
For all other economic revitalization areas designated before July 1,
2000, the period is three (3), six (6), or ten (10) years. For all economic
revitalization areas designated after June 30, 2000, the period is the
number of years determined under subsection (d). The owner is entitled
to a deduction if:
(1) the property has been rehabilitated; or
(2) the property is located on real estate which has been
redeveloped.
The owner is entitled to the deduction for the first year, and any
successive year or years, in which an increase in assessed value
resulting from the rehabilitation or redevelopment occurs and for the
following years determined under subsection (d). However, property
owners who had an area designated an urban development area
pursuant to an application filed prior to January 1, 1979, are only
entitled to a deduction for a five (5) year period. In addition, property
owners who are entitled to a deduction under this chapter pursuant to
an application filed after December 31, 1978, and before January 1,
1986, are entitled to a deduction for a ten (10) year period.
(d) For an area designated as an economic revitalization area after
June 30, 2000, that is not a residentially distressed area, the designating
body shall determine the number of years for which the property owner
is entitled to a deduction. However, the deduction may not be allowed
for more than ten (10) years. This determination shall be made:
(1) as part of the resolution adopted under section 2.5 of this
chapter; or
(2) by resolution adopted within sixty (60) days after receiving a
copy of a property owner's certified deduction application from
the county auditor. A certified copy of the resolution shall be sent
to the county auditor who shall make the deduction as provided
in section 5 of this chapter.
A determination about the number of years the deduction is allowed
that is made under subdivision (1) is final and may not be changed by
following the procedure under subdivision (2).
(e) Except for deductions related to redevelopment or rehabilitation
of real property in a county containing a consolidated city or a
deduction related to redevelopment or rehabilitation of real property
initiated before December 31, 1987, in areas designated as economic
revitalization areas before that date, a deduction for the redevelopment
or rehabilitation of real property may not be approved for the following
facilities:
(1) Private or commercial golf course.
(2) Country club.
(3) Massage parlor.
(4) Tennis club.
(5) Skating facility (including roller skating, skateboarding, or ice
skating).
(6) Racquet sport facility (including any handball or racquetball
court).
(7) Hot tub facility.
(8) Suntan facility.
(9) Racetrack.
(10) Any facility the primary purpose of which is:
(A) retail food and beverage service;
(B) automobile sales or service; or
(C) other retail;
unless the facility is located in an economic development target
area established under section 7 of this chapter.
(11) Residential, unless:
(A) the facility is a multifamily facility that contains at least
twenty percent (20%) of the units available for use by low and
moderate income individuals;
(B) the facility is located in an economic development target
area established under section 7 of this chapter; or
(C) the area is designated as a residentially distressed area.
(12) A package liquor store that holds a liquor dealer's permit
under
IC 7.1-3-10
or any other entity that is required to operate
under a license issued under IC 7.1. This subdivision does not
apply to an applicant that:
(A) was eligible for tax abatement under this chapter before
July 1, 1995; or
(B) is described in
IC 7.1-5-7-11
; or
(C) operates an entity under:
(i) a beer wholesaler's permit under
IC 7.1-3-3
;
(ii) a liquor wholesaler's permit under
IC 7.1-3-8
; or
(iii) a wine wholesaler's permit under
IC 7.1-3-13
;
for which the applicant claims a deduction under this
chapter.
(f) This subsection applies only to a county having a population of
more than two hundred thousand (200,000) but less than three hundred
thousand (300,000). Notwithstanding subsection (e)(11), in a county
subject to this subsection a designating body may, before September 1,
2000, approve a deduction under this chapter for the redevelopment or
rehabilitation of real property consisting of residential facilities that are
located in unincorporated areas of the county if the designating body
makes a finding that the facilities are needed to serve any combination
of the following:
(1) Elderly persons who are predominately low-income or
moderate-income persons.
(2) Disabled persons.
A designating body may adopt an ordinance approving a deduction
under this subsection only one (1) time. This subsection expires
January 1, 2011.".
Renumber all SECTIONS consecutively.
(Reference is to ESB 417 as printed April 2, 2003.)