Resolution 14-08

This resolution approves an Enterprise Zone Investment Deduction (EZID) for BigO Properties, LLC located at 340-346 South Walnut Street. The EZID allows aproperty tax deduction for a qualified investment within an Urban Enterprise Zone (I.C. 6-1.1-45). In most cases, this deduction (which is similar to tax abatement) isautomatic with the proper and timely application to the County Auditor. However,effective July, 2008, when the investment is in an allocation area defined by IC 12-19-1.5-1 (TIF District), the deduction must be approved by the area’slegislative body. Therefore, any EZID in one of the City’s TIF allocation areas mustbe approved by the Common Council.