State Form 51767 - Statement Of Benefits Real Estate Improvements - 2011 Page 2

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FOR USE OF THE DESIGNATING BODY

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, provides for the following limitations:

A. The designated area has been limited to a period of time not to exceed ____________ calendar years *

. The date this designation

expires is _______________________________ .

B. The type of deduction that is allowed in the designated area is limited to:

1. Redevelopment or rehabilitation of real estate improvements

Yes

2. Residentially distressed areas

Yes

3. Occupancy of a vacant building

Yes

C. The amount of the deduction applicable is limited to $ __________________.

D. Other limitations or conditions

__________________________________________________________________________

E. The deduction is allowed for ______________________________ years*

F. Did the designating body adopt an alternative deduction schedule per IC 6-1.1-12.1-17?

Yes

If yes, attach a copy of the alternative deduction schedule to this form.

We have also 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 (

)

Telephone number

Date signed

(

)

Attested by (

)

Designated body

* 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 6-1.12-12.1-4.

A. For residentially distressed areas, the deduction period may not exceed five (5) years.

B. For redevelopment and rehabilitation or real estate improvements:

1. If the Economic Revitalization Area was designated prior to July 1, 2000, the deduction period is limited to three (3), six (6), or ten (10) years.

2. If the Economic Revitalization Area was designated after June 20, 2000, the deduction period may not exceed ten (10) years.

C. For vacant buildings, the deduction period may not exceed two (2) years.

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