HomeMy WebLinkAboutEagle Steel Products, Inc.10/01/2003 15:28 FAX 81228587~7 E^BLE STEEL JEF. :
MAY-13-2003 TUF- 02:S9, PrLOITY OLER. K TRE~SUR~ F~X~.RO. 81~'~5 6428
002/002
?, 05
~June l~of
M;~ ch 1 a · ~ ,; :~.,,-~ 4;~.. ;..~,..,...~,.~ -~er Jc'he 30 ~ 9~1 t~usl ~ubmlt Form CF
adddlonal
NOTE' Pur~u:nt ~ ir; 6-1,1-12~:;5,~ 'i$ ~);t~'
Curr~ whJ~s ..........
Lc'os
We have rev ewed our prior actions re at ng to the designation of this economic revitalization area and find that the applicant meats the
genera standards adopted in the resolution previously approved by this body. Said resolution, passed under lC 6-1.1-12,1-2.5, pro-
vides for the following limitations as authorized under lC 6-1.1-12.1-2.
A. The designated area has been limited to a period of time not to exceed calendar years * (see below). 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 []No
2. Installation of new manufacturing equipment; T~Yes I'qNo
3. Residentially distressed areas [] Yes [] No
C .The amount of deduction applicable for new manufacturing equipment is limited to $ cost with an assessed
value of $
D .The amount of deduction applicable to redevelopment or rehabilitation is limited to $ cost with an assessed
value of $
E. Other limitations or conditions (specify).
R The deduction for new manufacturing equipment installed and first claimed eligible for deduction after July 1, 1991 is allowed for:
[] 5years [] 10 years The deduction period will be five (5) Years unless the designating b°dy has by res°luti°n specified the ten (10) year periOd'
Aisc we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reason-
able and have determined that the totality of benefits is sufficient to ustify the deduction described above.
Approved: (signature and title of authorized member) Telephone{ ) number Date signed (month, day, year)
Attested by: Designated body
* If the designating body limits the time period during which an area is an economic revitilization 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 or 4.5 Namely: (see tables below)
Year of Five (5) Year Ten (10) Year
Deduction Percentage Percentage
1st 100% 100%
2nd 95%
3rd 80%
4th 65%
' 5th 5O%
6th
95%
90%
85%
8O%
70%
Year of Three 3) Year Six 6) Year Ten (10) Year
Deduction Deduct on Deduct on Deduction
1 st 100% 100% 100%
2nd
3rd
66% 95%
8O%
33%
85%
66%
4th
5th 34%
6th 17%
7th
50% 65%
5O%
4O%
30%
~ 7th 55%
i 8th 40% 8th 20%
9th 30% 9th 10%
10th 25% 10th 5%