Sec. 12. (a) The designating body shall determine whether an area should be designated a brownfield revitalization zone.
(b) A designating body may designate an area as a brownfield revitalization zone only if the following findings are made in the affirmative:
(1) The applicant:
(A) has never had an ownership interest in an entity that contributed; and
(B) has not contributed;
a contaminant (as defined in IC 13-11-2-42) that is the subject of the voluntary remediation, as determined under the written standards adopted by the department of environmental management.
(2) The area described in section 8 of this chapter qualifies as a brownfield, as determined under the written standards adopted by the department of environmental management.
(3) The area described in section 8 of this chapter is substantially under-utilized or nonproductive without remediation.
(4) The applicant can successfully obtain a certificate of completion of a voluntary remediation for the area described in section 8 of this chapter under IC 13-25-5-16.
(5) The estimate of the value of the remediation and redevelopment is reasonable for projects of that nature.
(6) 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 remediation and redevelopment.
(7) 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 remediation and redevelopment.
(8) Any other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described remediation and redevelopment.
(9) The totality of benefits is sufficient to justify the establishment of a zone.
As added by P.L.59-1997, SEC.1. Amended by P.L.119-1999, SEC.3.
Structure Indiana Code
Chapter 42. Brownfield Revitalization Zone Tax Abatement
6-1.1-42-1. "Brownfield" Defined
6-1.1-42-2. "Designating Body" Defined
6-1.1-42-3. "Remediation" Defined
6-1.1-42-5. Application for Designation as Brownfield Revitalization Zone
6-1.1-42-6. Statement of Public Benefits
6-1.1-42-7. Powers of Designating Body
6-1.1-42-8. Duties of Designating Body
6-1.1-42-9. Adoption of Resolution
6-1.1-42-10. Publication of Notice
6-1.1-42-11. Review of Statement of Benefits
6-1.1-42-12. Designation of Brownfield Revitalization Zone
6-1.1-42-13. Final Action; Expiration of Designation of Brownfield Revitalization Zone
6-1.1-42-15. Hearing of Appeal
6-1.1-42-17. Application for Assessed Valuation Deduction
6-1.1-42-18. Statement of Benefits for Assessed Valuation Deduction
6-1.1-42-19. Resolution Adopting Deduction
6-1.1-42-20. Notice of Resolution Adoption; Filing Information With Taxing Unit
6-1.1-42-21. Review of Statement of Benefits for Assessed Valuation Deduction
6-1.1-42-22. Approval of Deduction
6-1.1-42-23. Limitation of Property Eligible for Deductions
6-1.1-42-24. Final Action; Granting of Deductions; Expiration
6-1.1-42-25. Appeal of Grant of Deduction
6-1.1-42-26. Hearing of Appeal of Grant of Deduction
6-1.1-42-27. Certified Deduction Application
6-1.1-42-28. Amount of Deduction
6-1.1-42-29. Requirements for Property Owners Filing Deduction Application
6-1.1-42-31. Public Documents and Records; Confidential Information
6-1.1-42-32. Publication and Filing of Deduction Information by Auditor