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IEDC_0001_2 - Incentives
CReED Tax Credit

Eligibility

The credit is available to taxpayers that make qualified investments for the redevelopment or rehabilitation of property located within a revitalization district. Only those projects that the IEDC expects to have a positive return on investment will be considered. A taxpayer is not eligible for more than one of the following tax credits for the same project:

  • Community revitalization enhancement district tax credit (CReED)

  • Industrial recovery tax credit (DINO)

  • Hoosier business investment tax credit (HBI)

  • Enterprise zone investment cost credit

  • Venture capital investment tax credit (VCI)


Eligibility Qualified Investment Costs

The applicant’s qualified investment must be made for the redevelopment or rehabilitation of property located within a CReED, pursuant to a plan adopted by an advisory commission on industrial development per Ind. Code 36-7-13, and approved by the IEDC before the expenditure is made. Eligible costs may include:

  • Acquisition costs, when necessary for redevelopment or rehabilitation

  • Architectural and engineering fees

  • Construction management and demolition costs

  • Environmental remediation costs
    FF&E, if nonmovable

  • Permitting costs directly related to rehabilitation

  • Other hard costs

Eligible costs do not include:

  • Legal and accounting fees

  • Developer fees

  • Feasibility studies

  • Property insurance

  • FF&E, if movable

  • Loan costs

  • Other professional fees not directly related to rehabilitation  of the property

  • Reserves

  • Other soft costs

 

Calculation and Application of Credit

The credit amount is equal to the amount of qualified investment made by the taxpayer during the taxable year multiplied by 25%. The credit may be passed through (see Ind. Code 6-3.1-19-13).

The credit is applied against the taxpayer’s state or local tax liability, and may be carried forward to the immediately following taxable years.

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