HomeMy WebLinkAbout2026-R-1 Resolution Recommending to Council Authorization for Investment Within JUEZ BEFORE THE JEFFERSONVILLE REDEVELOPMENT COMMISSION
STATE OF INDIANA
A RESOLUTION RECOMMENDING TO THE COMMON COUNCIL
AUTHORIZATION FOR AN INVESTMENT DEDUCTION WITHIN THE
JEFFERSONVILLE URBAN ENTERPRISE ZONE
RESOLUTION NO. 2026-R- I
WHEREAS, the Common Council of the City of Jeffersonville, Indiana ("Council")
previously established and designated a portion of the City of Jeffersonville, Indiana(the "City")
as the Jeffersonville Urban Enterprise Zone ("JUEZ") in 2000 pursuant to Ind. Code § 5-28-15-et
seq.;
WHEREAS, the JUEZ is a specifically designated area in which businesses and residents
alike are afforded certain tax benefits and in turn business may remit a percentage of their tax
savings to the local urban enterprise association who manages these funds for the benefit of the
JUEZ;
WHEREAS, the City has established the Jeffersonville Urban Enterprise Association
("JUEA"),an Indiana nonprofit corporation and local urban enterprise association,for the purpose
of managing the JUEA locate within the City;
WHEREAS, Highland Ventures Real Estate IV LLC (the "Taxpayer") redeveloped the
property located in the JUEZ at 1439 East Tenth Street, Jeffersonville, Indiana 47130, consisting
of Parcel No. 10-20-00-201-100.000-010 (the "Property");
WHEREAS, pursuant to Ind. Code § 6-1.1-45-9(a), a taxpayer that makes a qualified
investment is entitled to a deduction from the assessed value of the Taxpayer's enterprise zone
property located at the enterprise zone location for which the taxpayer made the qualified
investment;
WHEREAS, the Taxpayer's significant real property investments in building and related
improvements on the Property, which Investments are qualified investments under Ind. Code § 6-
1.1-45-7(3);
WHEREAS, the Property is located in an allocation area pursuant to Ind. Code § 36-7-14
et seq.;
WHEREAS,the Council is the legislative body of the City and has previously created the
City of Jeffersonville Redevelopment Commission("Commission");
WHEREAS, pursuant to Ind. Code § 6-1.1-45-9(e), a taxpayer that makes a qualified
investment at an enterprise zone location that is located within an allocation area is entitled to a
deduction as stated only if the deduction is approved by the legislative body that created the
redevelopment commission;
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WHEREAS, the Commission supports the Taxpayer's application for, and use of, the
investment deduction for improvements made to the Property;
NOW, THEREFORE, BE IT RESOLVED BY THE JEFFERSONVILLE
REDEVELOPMENT COMMISSION THAT:
1) The Jeffersonville Redevelopment Commission hereby recommends to the Common
Council that it authorize and grant the investment deduction to Highland Ventures Real
Estate IV LLC for improvements made to the Property located at 1439 East Tenth
Street, Jeffersonville, Indiana 47130 for a period of ten (10) years, pursuant to Ind.
Code § 6-1.1-45.
Authorizes and approves the Taxpayer's application and deduction schedule for Investment
property tax deduction.
Adopted at a meeting of the Jeffersonville Redevelopment Commission held the ;5 day
of , 2026.
JEFFERSONVILLE REDEVELOPMENT
COMMISSION
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President
ATTEST:
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Secretary
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