Indiana Code 6-3.1-11-19. Evaluation of applications; factors considered; additional requirements for certain industrial recovery sites
(1) The level of distress in the surrounding community caused by the loss of jobs at the industrial recovery site.
Terms Used In Indiana Code 6-3.1-11-19
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- corporation: refers to the Indiana economic development corporation created under IC 5-28-3 unless the context clearly denotes otherwise. See Indiana Code 6-3.1-11-2.5
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- industrial recovery site: means land on which a vacant plant having at least one hundred thousand (100,000) square feet of total floor space:
Indiana Code 6-3.1-11-5
- plant: means a building or complex of buildings used, or designed and constructed for use, in production, manufacturing, fabrication, assembly, processing, refining, finishing, or warehousing of tangible personal property, whether the tangible personal property is or was for sale to third parties or for use by the owner in the owner's business. See Indiana Code 6-3.1-11-9
(3) Evidence of a commitment by private or governmental entities to assist in the financing of improvements or redevelopment activities benefiting the industrial recovery site.
(4) Whether the industrial recovery site is within an economic revitalization area designated under IC 6-1.1-12.1.
(b) The corporation may not approve an application to receive tax credits under this chapter for qualified investments made on an industrial recovery site described in section 5(2) of this chapter unless the applicant can demonstrate that the plant was not maintained and was removed from the site in an effort to protect the health, safety, and welfare of the community.
As added by P.L.379-1987(ss), SEC.11. Amended by P.L.146-2008, SEC.324; P.L.288-2013, SEC.40; P.L.204-2016, SEC.24.