Downtown Creed

Community Revitalization Enhancement Districts (CReED)

•  Designed to assist cities in overcoming significant obstacles to downtown development
  • Legislation allows 1st and 2nd class cities, with a CReED to designate one additional CReED.  Indiana Code 36-7-13.
  • 25% Investor Tax Credit for Qualified Investment. (Qualified Investment: the taxpayer's expenditures for redevelopment or rehabilitation of property located in the CReED and made under an adopted CReED plan.)  Does not include cost of real property or equipment.  Indiana Code Section 6-3.1-19.
• For the Investor:
  • Indiana Economic Development Corporation approves and determines eligible portion of investment before project begins.
  • Except in certain approved expansion/relocation circumstances, the Tax Credit is disallowed if the investor substantially reduces or ceases operations in Indiana in order to relocate operation within the CReED.
  • The Taxpayer claims the credit on the taxpayer's annual state income tax return.  If credit exceeds state tax liability, the taxpayer may carry  the excess over to subsequent taxable years.

CreED Checklist

CreED Description of Investor Tax Credit

CReED Application

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