HomeMy Public PortalAboutResolution 2012-6RESOLUTION NO. 2012 - 6
A RESOLUTION REAFFIRMING RESOLUTION 2012 - 4 AND DECLARING AN
ECONOMIC REVITALIZATION AREA AND RECOMMENDED TAX DEDUCTION
(F. B. DISTRO DISTRIBUTION CENTER, INC.)
WHEREAS, the laws of the State of Indiana, specifically I.C. 6 -1.1- 12.1 -1, et. Seq., provide
for the creation of economic revitalization areas within the corporate limits of the City of
Greencastle, Putnam County, Indiana, for the general purpose of providing property tax deductions
to encourage private redevelopment of areas which have become 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 normal development of property or use of
property; and,
WHEREAS, the term "economic revitalization area" also includes any area where a facility
or group of facilities that are technologically, economically or energy obsolete are located and where
the obsolescence may lead to the decline in employment and tax revenue; and,
WHEREAS, "redevelopment" means the construction of new structures in economic
revitalization areas either on unimproved real estate or on real estate upon which a prior existing
structure is demolished to allow for new construction; and,
WHEREAS, "rehabilitation" means remodeling, repair or betterment of property in any
manner or any enlargement or extension of property; and,
WHEREAS, pursuant to applicable laws of the State of Indiana, the Common Council of the
City of Greencastle may create said economic revitalization area through the adoption of a
resolution; and,
WHEREAS, the need exists to establish an economic revitalization area in order to encourage
private redevelopment in the City of Greencastle, Putnam County, Indiana; and,
WHEREAS, F. B. Distro Distribution Center, Inc., has planned the economic revitalization
of their operations by investing up to $22,850,000 in the expansion of their facility and in new
logistical distribution and information technology equipment to support additional operations
resulting in the retention of 181 jobs and the creation of 135 additional jobs at their facility. F. B.
Distro Distribution Center, Inc. seeks a tax deduction pursuant to I.C. 6 -1.1 -12.1, et. seq.; and,
WHEREAS, Statements of Benefits Forms (Real Estate and Personal Property), said forms
approved by the Department of Local Government Finance, have been submitted to the Common
Council on March 5, 2012, prior to the expansion of the facility and installation of new logistical
distribution and information technology equipment on such real estate by F. B. Distro Distribution
Center, Inc., and that such Statements of Benefits Forms are attached hereto and marked "Exhibit
A and Exhibit B"; and,
WHEREAS, the Common Council of the City of Greencastle passed Resolution 2012 -4 on
March 13, 2012 and advertised a public hearing for April 10, 2012; and,
WHEREAS, the Common Council of the City of Greencastle, pursuant to the laws of the
State of Indiana, does now hereby find that:
1. The estimate of the value of the facility expansion and the new logistical distribution
and information technology equipment is reasonable for projects of that nature;
2. 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 facility expansion and installation of new logistical distribution and information
technology equipment;
3. The estimate of the annual salaries of those individuals who will be employed or
whose employment will be retained can reasonably be expected to result from the proposed
described facility expansion and installation of new logistical distribution and information
technology equipment;
4. That any other benefits about which information was requested are benefits that
can be reasonably expected to result from the described facility expansion
and installation of new logistical distribution and information technology equipment.
The totality of the benefits is sufficient to justify a deduction.
THEREFORE, based upon these findings, BE IT RESOLVED THAT THE COMMON
COUNCIL OF THE CITY OF GREENCASTLE on this 10th day of April, 2012, pursuant to I.C.
6 -1.1- 12.1 -1, et. seq., deems there to be a need to establish an economic revitalization area and that
said economic revitalization area shall be defined as follows:
Described as Parcel 1 of Exhibit A in a Special Warranty Deed recorded as document
number 2004007435 in the Putnam County Recorder's Office.
Situate in the State of Indiana, County of Putnam and being a part of Sections 13 and
14, Township 14 North, Range 4 West of the Second Principal Meridian, more
particularly described, to -wit:
Commencing at a rebar marking the Southeast corner of Section 14, Township 14
North Range 4 West; thence North 01 degree 20 minutes 30 seconds East 112.90 feet
with the East line of said Section 14 to a railroad spike on the North right -of -way of
Indiana State Road #240 as described in Right -of -Way Grant Book 1, page 118 in the
Office of the Recorder of Putnam County, Indiana and the true point of beginning of
the real estate herein described; thence with the North right -of -way South 46 degrees
25 minutes 23 seconds West 53.81 feet to a rebar; thence Westerly 425.62 feet on a
curve to the left having a radius of 28,697.90 feet and subtended by a long cord
bearing North 89 degrees 06 minutes 31 seconds West a distance of 425.61 feet to a
rebar; thence North 89 degrees 32 minutes 00 seconds West 1269.15 feet to a rebar;
thence leavings said North right -of -way North 00 degrees 03 minutes 46 seconds East
653.89 feet to a rebar on the South right -of -way line of County Road 200 East; thence
North 63 degrees 15 minutes 10 seconds East 118.72 feet with said South right -of-
way; thence South 26 degrees 46 minutes East 88.07 feet with a chain link fence, as
shown on the survey dated October 13, 1987, and the Northerly extension thereof to
a 4 inch diameter steel fence post; thence with said fence line South 66 degrees 15
minutes East 43.85 feet to a 2 inch diameter steel fence post; thence South 89 degrees
09 minutes East 226.21 feet to a 3 inch diameter steel fence post; thence South 01
degree 11 minutes West 56.75 feet to a rebar; thence leaving the aforesaid fence line
South 89 degrees 10 minutes East 472.06 feet with the North face of a building and
the Westerly extension thereof to a drill hole in concrete, thence North 00 degrees 35
minutes West 68.34 feet to a rebar at the Southwest corner of a building; thence North
89 degrees 19 minutes West 43.91 feet to a rebar; thence North 01 degree 21 minutes
East 172.64 feet to a rebar; thence North 59 degrees 03 minutes East 13.31 feet to a
rebar; thence North 46 degrees 04 minutes East 65.12 feet to a rebar; thence North 21
degrees 51 minutes East 28.98 feet to a rebar; thence North 89 degrees 41 minutes
East 106.72 feet to a rebar; thence South 00 degrees 51 minutes West 114.90 feet to
a drill hole in concrete; thence South 10 degrees 34 minutes West 31.30 feet to a drill
hole in concrete; thence South 00 degrees 50 minutes West 203.72 feet with the East
face of a building and the Northerly extension thereof to a drill hole in concrete;
thence South 89 degrees 13 minutes East 234.13 feet with the North face of said
building and the Easterly extension thereof to a rebar at the West face of said building;
thence North 00 degrees 48 minutes East 55.49 feet with said West face to a drill hole
in concrete; thence South 89 degrees 10 minutes East 205.13 feet to a drill hole in
concrete; thence North 00 degrees 52 minutes East 824.89 feet with the West face of
said building and the Northerly extension thereof to a rebar on the aforesaid South
right -of -way; thence with said South right -of -way North 63 degrees 15 minutes 10
seconds East 245.10 feet to a rebar; thence Northeasterly 90.02 feet on a curve to the
left having a radius of 237.00 feet and subtended by a long chord bearing North 52
degrees 22 minutes East a distance of 89.48 feet to a rebar, thence leaving said South
right -of -way South 48 degrees 30 minutes 38 seconds East 24.65 feet to a rebar on the
South line of real estate conveyed to the City of Greencastle as described in a deed
recorded in Deed Record 191, page 272 in the Office of the Recorder of Putnam
County, Indiana; thence North 63 degrees 15 minutes 10 seconds East 2059.82 feet
with said South line to a rebar; thence South 2565.42 feet to a rebar on the North
right -of -way of the aforesaid Indiana State Road #240; thence with said North right -
of -way North 89 degrees 38 minutes 44 seconds West 62.29 feet to a rebar; thence
Westerly 222.92 feet on a curve tot he left having a radius of 4633.67 feet and
subtended by a long chord bearing North 86 degrees 00 minutes 16 seconds West a
distance of 222.90 feet to a rebar; thence North87 degrees 23 minutes 00 seconds
West 979.40 feet to a rebar; thence Westerly 551.16 feet on a curve to the left having
a radius of 28,697.90 feet and subtended by a long chord bearing North 87 degrees 56
minutes 01 second West a distance of 551.15 feet to a rebar; thence North 45 degrees
02 minutes 48 seconds West 51.20 feet to a rebar; thence North 82 degrees 15 minutes
34 seconds West 15.16 feet to the true point of beginning.
Also commonly known as 1901 East State Road 240.
THEREFORE, the Common Council of the City of Greencastle does recommend a deduction
of assessed value for a period of ten (10) years as a result of the expansion of the facility and for a
period of ten (10) years for the installation of new logistical distribution equipment and four (4) years
for the installation of new information technology equipment, all as set forth in I.C. 6 -1.1- 12.1 -4.5.
The Common Council of the City of Greencastle does NOT recommend a deduction or tax
abatement for special tooling nor does F. B. Distro, Distribution Center, Inc., request such
abatement.
The Common Council of the City of Greencastle further recommends and approves the
application of the deductions herein for improvements and equipment installed pursuant to the
Statements of Benefits from the approval of this resolution and during the thirty -five (35) ensuing
months, April 10, 2012 to March 1, 2015.
PASSED AND RESOLVED by the Common Council of the City of Greencastle at a special
meeting this 10` day of April, 2012.
COMMON COUNCIL OF THE CITY OF GRE CASTLE, INDIANA
Jin e S. Bingham Adam Cohen
Mark N. Hammer 4Z]
Terry J. ith
.L� tae/ �c6ust�,c�
Phyll . Ross Rokicki
Approved and signed by me this 10th day of April, 2012 at 11210 p.m. o'clock.
Susan V. Murray, Mayor
ATTEST:
ynda . Dunbar, Clerk- Treasurer
4
STATEMENT OF BENEFITS
e
REAL ESTATE IMPROVEMENTS
Address of taxpayer (number and street, city, slate, and ZIP code)
State Form 51767 (R3 / 12 -11)
\si•/
Prescribed by the Department of Local Government Finance
Exhibit A 20 PAY 20 1?
FORM SB -1 / Real Property
This statement is being completed for real property that qualifies under the following Indiana Code (check one box):
21 Redevelopment or rehabilitation of real estate improvements (IC 6 -1.1- 12.1 -4)
❑ Eligible vacant building (IC 6- 1.1- 12.1 -4.8)
INSTRUCTIONS:
1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing it the designating body requires
information from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise this statement must be
submitted to the designating body BEFORE the redevelopment or rehabilitation of real property for which the person wishes to claim a deduction.
"Projects "planned or committed to after July 1, 1987, and areas designated after July 1, 1987, require a STATEMENT OF BENEFITS. (IC 6 -1.1 -12.1)
2. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to initiation of the redevelopment or rehabilitation,
BEFORE a deduction may be approved.
3. To obtain a deduction, application Form 322 ERA /RE or Form 322 ERA/VBD, Whichever is applicable, must be filed with the County Auditor by the later
of (1) May 10; or (2) thirty (30) days after the notice of addition to assessed valuation or new assessment is mailed to the property owner at the address
shown on the records of the township assessor, if any, or the county assessor.
4. Property owners whose Statement of Benefits was approved after June 30, 1991, must attach a Form CF -1 /Real Property annually to the application to
show compliance with the Statement of Benefits. (IC 6- 1.1- 12.1- 5.1(b) and IC 6- 1.1- 12.1- 5.3Q)J
5. The schedules established under IC 6 -1.1- 12.1 -4(d) for rehabilitated property and under IC 6 -1.1- 12.1- 4.8(1) for vacant buildings apply to any statement
of benefits approved on or after July 1, 2000, unless an alternative deduction schedule is adopted by the designating body 16-1.1-12. 1-17). The
schedules effective prior to July 1, 2000, shall continue to apply to a statement of benefits tiled before Jury 1, 2000.
Name of taxpayer
FB Distro Distribution Center Inc
Address of taxpayer (number and street, city, slate, and ZIP code)
1901 State Road 240 East Greencastle, IN 46135
Name of contact person Telephone number
E -mail address
Tom Moran SVP Supply Chain (215) 633 -2483
Name of designating body
Resolution number
Greencastle Common Council
Location of property
County
Di taxing district tender
1901 State Road 240 East
Putnam
67008
Description of real property improvements, redevelopment, or rehabilitation (use additional sheets if necessary)
Estimated start date (month, day, year)
Renovations to exisitng facility to accomodate new distribution center equipment
11/30/2011
Estimated completion date (montli day, year)
/01/2015
WF4K4 1,11 • .•. r ••.
Current number Salaries Number retained Salaries Number additional Salaries
183.00 $5,355,605.00 181.00 $5,297,074.00 135.00 $4,192,344.00
• • . ••• r . Emu
NOTE: Pursuant to IC 6 -1.1- 12.1 -5.1 (d) (2) the COST of the property REAL. ESTATE IMPROVEMENTS
is confidential. COST ASSESSED VALUE
Current values
Flux estimated values of proposed project
700.000.00
Less values of any property being replaced
Net estimated values upon completion of project
Estimated solid waste converted (pounds)
Estimated hazardous waste converted (pounds)
Other benefits
I hereby certify that the representations this statement are true.
Signa utho' repres tali
Title
Date rune (month, day, year)
3
SVP Supply Chain
5 Zd�Z
.
W e h a v e r e v i e w e d o u r p r i o r a c t i o n s r e l a t i n g t o t h e d e s i g n a t i o n o f t h i s E c o n o m i c R e v i t a l i z a t i o n A r e a a n d f i n d t h a t t h e a p p l i c a n t m e e t s t h e g e n e r a l s t a n d a r d s
a d o p t e d i n t h e r e s o l u t i o n p r e v i o u s l y a p p r o v e d b y t h i s b o d y . S a i d r e s o l u t i o n , p a s s e d u n d e r I C 6 - 1 . 1 - 1 2 . 1 , p r o v i d e s f o r t h e f o l l o w i n g l i m i t a t i o n s :
A . T h e d e s i g n a t e d a r e a h a s b e e n l i m i t e d t o a p e r i o d o f t i m e n o t t o e x c e e d 3 5 m o n t h s c a l e n d a r y e a r s ' ( s e e b e l o w ) . T h e d a t e t h i s d e s i g n a t i o n
e x p i r e s i s M a r c h 1 . 2 0 1 5
B . T h e t y p e o f d e d u c t i o n t h a t i s a l l o w e d i n t h e d e s i g n a t e d a r e a i s l i m i t e d t o :
1 . R e d e v e l o p m e n t o r r e h a b i l i t a t i o n o f r e a l e s t a t e i m p r o v e m e n t s 2 Y e s Q' N o
2 . R e s i d e n t i a l l y d i s t r e s s e d a r e a s Q' Y e s � N o
3 . O c c u p a n c y o f a v a c a n t b u i l d i n g Q' Y e s F L I N o
C . T h e a m o u n t o f t h e d e d u c t i o n a p p l i c a b l e i s l i m i t e d t o $ 1 , 0 0 0 , 0 0 0 . 0 0
D . O t h e r l i m i t a t i o n s o r c o n d i t i o n s ( s p e c i l y )
E . T h e d e d u c t i o n i s a l l o w e d f o r T e n ( 1 0 ) y e a r s ' ( s e e b e l o w ) .
F . D i d t h e d e s i g n a t i n g b o d y a d o p t a n a l t e r n a t i v e d e d u c t i o n s c h e d u l e p e r I C 6 - 1 . 1 - 1 2 . 1 - 1 7 ? Q' Y e s [ Z N o
I f y e s , a t t a c h a c o p y o f t h e a l t e r n a t i v e d e d u c t i o n s c h e d u l e t o t h i s t o r t e .
W e h a v e a l s o r e v i e w e d t h e i n f o r m a t i o n c o n t a i n e d i n t h e s t a t e m e n t o f b e n e f i t s a n d f i n d t h a t t h e e s t i m a t e s a n d e x p e c t a t i o n s a r e r e a s o n a b l e a n d h a v e
d e t e r m i n e d t h a t t h e t o t a l i t y o f b e n e f i t s i s s u f f i c i e n t t o j u s t i f y t h e d e d u c t i o n d e s c r i b e d a b o v e .
A p p r o v e d ( s i g n a t u r e a n d f i d e o f a u t h o r i z e d m e m b e r o r d e s i g a a f i r g b o d y )
T e l e p h o n e n u m b e r
D a l e s i g n e d ( m o n t h , d a y , y e a r )
S u s a n V . M u r r a y , M a y o r
( 7 6 5 ) 6 5 3 - 3
0 4 / 1 0 / 2 0 1 2
A t t e s t e d b y ( s i g n a t u r e a n d t i t l e o f a t t e s t e r )
D e s i g n a t e d b o d y
L y n d a R . D u n b a r , C l e r k - T r e a s u r e r
G r e e n c a s t l e C o m m o n C o u n c i l
I f t h e d e s i g n a t i n g b o d y l i m i t s t h e t i m e p e r i o d d u r i n g w h i c h a n a r e a i s a n e c o n o m i c r e v i t a l i z a t i o n a r e a , i t d o e s n o t l i m i t t h e l e n g t h o f t i m e a t a x p a y e r i s
e n t i t l e d t o r e c e i v e a d e d u c t i o n t o a n u m b e r o f y e a r s d e s i g n a t e d u n d e r I C 6 - 1 . 1 2 - 1 2 . 1 4 .
A . F o r r e s i d e n t i a l l y d i s t r e s s e d a r e a s , t h e d e d u c t i o n p e r i o d m a y n o t e x c e e d f i v e ( 5 ) y e a r s .
B . F o r r e d e v e l o p m e n t a n d r e h a b i l i t a t i o n o r r e a l e s t a t e i m p r o v e m e n t s :
I . I f t h e E c o n o m i c R e v i t a l i z a t i o n A r e a w a s d e s i g n a t e d p r i o r t o J u l y 1 , 2 0 0 0 , t h e d e d u c t i o n p e r i o d i s l i m i t e d t o t h r e e ( 3 ) , s i x ( 6 ) , o r t e n I t 0 ) y e a r s .
2 . I f t h e E c o n o m i c R e v i t a l i z a t i o n A r e a w a s d e s i g n a t e d a f t e r J u n e 2 0 , 2 0 0 0 , t h e d e d u c t i o n p e r i o d m a y n o t e x c e e d t e n ( 1 0 ) y e a r s .
C . F o r v a c a n t b u i l d i n g s , t h e d e d u c t i o n p e r i o d m a y n o t e x c e e d t w o ( 2 ) y e a r s .
P a g e 2 o f 2
ti Q STATEMENT OF BENEFITS
a ° PERSONAL PROPERTY
�;„ State Form 51764 (R2 112-11)
`�'�• Prescribed by the Department of Local Government Finance
Exhibit B FORM SB -1 / PP
PRIVACY NOTICE
The cost and any spectre individual's
salary information is confidential; Inc
balance of the fling is public record
per IC 6 -7.1- 12.1 -5.1 (c) and (d).
INSTRUCT)ONS:
1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body requires
information from the applicant in making its decision about whether to designate an Economic Revitalization Area Otherwise this statement must be submitted
to the designating body BEFORE a person installs the new manufacturing equipment and /or research and development equipment, and /or logistical distribution
equipment and /or information technology equipment for which the person wishes to claim a deduction. "Projects" planned or committed to after July 1, 1987,
and areas designated after July 1, 1987, require a STATEMENT OF BENEFITS. (IC 6 -1.1 -12.1)
2. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to installation of the new manufacturing equipment
and /or research and development equipment and /or logistical distribution equipment and /or information technology equipment, BEFORE a deduction may
be approved
3. To obtain a deduction, a person must file a certified deduction schedule with the person's personal properly return on a certified deduction schedule (Form
103 -ERA) with the township assessor of the township where the property is situated or with the county assessor if there is no township assessor for the
township. The 103 -ERA must be filed between March 1 and May 15 of the assessment year in which new manufacturing equipment and /or research and
development equipment and /or logistical distribution equipment and /or information technology equipment is installed and fully functional, unless a filing
extension has been obtained. A person who obtains a filing extension must file the form between March 1 and the extended due date of that year
4. Property owners whose Statement of Benefits was approved after June 30, 1991, must submit Form CF -1 / PP annually to show compliance with the
Statement of Benefits. (IC 6 -1.1- 12.1 -5.6)
5. The schedules established under IC 5 -1.1- 12.1- 4.5(d) and (e) apply to equipment installed after March 1, 2001, unless an alternative deduction schedule is
adopted by the designating body (IC 5 -1.1- 12.1 -17).
Name of taxpayer
FB Distro Distribution Center Inc
Address of taxpayer (number and street, city, state, and Z)Pccde)
Number retained
Salaries
1901 State Road 240 East Greencastle, IN 46135
Salaries
183 5,355,605.00
Name of contact person
5,297,074.00
Telephone number
Tom Moran SVP Supply Chain
(215) 633 - 2483
Name of designating body
MANUFACTURING
EQUIPMENT
Resolution number (s)
Greencastle Common Council
IT EQUIPMENT
COST of the property is confidential.
Location of property
County
DLGF taxing district number
1901 State Road 240 East
Putnam
67008
Description of manufacturing equipment and /or research and development equipment
VALUE
VALUE
ESTIMATED
and /or logistical distribution equipment and /or information technology equipment.
(use additional sheets if necessary)
START DATE
COMPLETION DATE
Manufacturing Equipment
Plus estimated values of proposed project
New material handling and information technology
21,400.000.00
equipment for the distribution center.
75gaop 00
R a D Equipment
Less values of any property being replaced
Logist Dist Equipment
11/30/2011
03/01/2015
IT Equipment
11130/2011
03/01/2015
Current number Salaries
Number retained
Salaries
Number additional
Salaries
183 5,355,605.00
181
5,297,074.00
135
4,192,344.00
NOTE: Pursuant to IC 6 -1.1- 12.1 -5.1 d (2
( ) t) the
MANUFACTURING
EQUIPMENT
R & D EQUIPMENT
LOGIST DIST
EQUIPMENT
IT EQUIPMENT
COST of the property is confidential.
COST ASSESSED
COST ASSESSED
COST ASSESSED
COST ASSESSED
VALUE
VALUE
VALUE
VALUE
Current values
Plus estimated values of proposed project
21,400.000.00
75gaop 00
Less values of any property being replaced
Net estimated values upon completion of project
Estimated solid waste converted (pounds)
Estimated hazardous waste
converted (pounds)
Other benefits
I hereby ce that the representations in this statement are true.
Signature o rzetl repre !alive Tile Date sigma (!o th, dyeary )
SVP Supply Chain 3 M 2
Page 1 of 2
We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the general standards
adopted in the resolution previously approved by this body. Said resolution, passed under IC 6 -1.1- 12.1 -2.5, provides for the following limitations as
authorized under IC 6 -1.1- 12.1 -2.
A. The designated area has been limited to a period of time not to exceed 35 months calendar years' (see below). The date this designation expires
m March 1, 2015
B . The type of deduction that is allowed in the designated area is limited to:
1. Installation of new manufacturing equipment;
2. Installation of new research and development equipment;
3. Installation of new logistical distribution equipment.
4. Installation of new information technology equipment;
❑Yes ONO
❑Yes ®No
O Y e s ❑ N o
ZYes ❑No
C. The amount of deduction applicable to new manufacturing equipment is limited to $
D. The amount of deduction applicable to new research and development equipment is limited to
cost with an assessed value of
E . The amount of deduction applicable to new logistical distribution equipment is limited to $ 23,500,000.00 cost with an assessed value of
F. The amount of deduction applicable to new information technology equipment is limited to $ 1,000, 000.00
cost with an assessed value of
G ocher limitations or conditions (specify) 10 years on logistics equipment; 4 years on IT equipment
H. The deduction for new manufacturing equipment and /or new research and development equipment and/or new logistical distribution equipment and /or
new information technology equipment installed and first claimed eligible for deduction on or after July 1, 2000, is allowed for:
❑ 1 year ❑ 6 years " For ERA's established prior to July 1, 2000, only a
❑ 2 years ❑ 7 years 5 or 10 year schedule may be deducted.
❑ 3 years ❑ 8 years
❑ 4 years ❑ 9 years
❑ 5 years " Z 10 years "
I. Did the designating body adopt an alternative deduction schedule per IC 6- 1.1- 12.1 -17? ❑ Yes ❑ No
If yes, attach a copy of the alternative deduction schedule to this form.
Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have
determined that the totality of benefits is sufficient to justify the deduction described above.
Approved: (signature and title of authorized member) Tetephone number Date signed (month, day, year)
Susan V. Murray, Mayor ( 765 ) 653 -3100 04110/2012
Attested by: Designated body
Lynda R. Dunbar, Clerk- Treasurer Greencastle Common Council
If the designating body limits the time period during which an area is an economic revitalization area, it does not limit the length of time a taxpayer is
entitled to receive a deduction to a number of years designated under IC 6- 1.1- 12.1 -4.5
cost with an assessed value of
Page 2 of 2