HomeMy Public PortalAbout079-2013 - Abatement - Stride Rite - Real EstateAMENDED ORDINANCE NO. 79-2013
A SPECIAL ORDINANCE AUTHORIZING THE APPROVAL OF A
STATEMENT OF BENEFITS FOR A PROPERTY OWNER
APPLYING FOR DEDUCTIONS UNDER I.C. 6-1.1-12.1
WHEREAS, Common Council has previously designated eight economic revitalization areas
within the City of Richmond; and
WHEREAS, I.C. 6-1.1-12.1 requires the Common Council as the designating entity to approve all
Statements of Benefits required to be filed by property owners applying for
deductions in assessed valuations for the installation of new manufacturing
equipment, research and development equipment, logistic distribution equipment, or
information technology equipment or for the redevelopment or rehabilitation of real
property; and
WHEREAS, An owner of real property located in an economic revitalization area is entitled to
deductions from the assessed value, pursuant to Indiana law and Richmond City
Ordinance, for a period of any number of years less than or equal to ten (10) years
(i.e. one to ten years); and
WHEREAS, An owner of new manufacturing equipment, research and development equipment,
logistic distribution equipment, or information technology equipment is also entitled
to deductions from the assessed value, pursuant to Indiana law and Richmond City
Ordinance, for a period of any number of years less than or equal to ten (10) years
(i.e. one to ten years); and
WHEREAS, in order for Common Council to approve a Statement of Benefits to allow a
deduction, it must make the following findings, to -wit:
1. That the estimate of value of the redevelopment or rehabilitation, as to real
property, or the estimate of cost of the new manufacturing equipment, research
and development equipment, logistic distribution equipment, or information
technology equipment, as to personal property, is reasonable for projects of that
nature or equipment of that type.
2. That the estimate of number of individuals who will be employed or whose
employment will be retained can be reasonably expected to result from the
proposed described redevelopment or rehabilitation, or from the installation of the
new manufacturing equipment, research and development equipment, logistic
distribution equipment, or information technology equipment.
3. That the estimate of annual salaries of those individuals who will be employed or
whose employment will be retained can be reasonably expected to result from the
proposed described redevelopment or rehabilitation, or from the installation of the
new manufacturing equipment, research and development equipment, logistic
distribution equipment, or information technology equipment.
4. That any other benefits about which information was requested are benefits that
can be reasonably expected to result from the proposed redevelopment or
rehabilitation, or from the installation of the new manufacturing equipment,
research and development equipment, logistic distribution equipment, or
information technology equipment.
5. That the totality of the benefits is sufficient to justify the deduction.
6. That the improvements to the real estate described in the SB-1 must be completed
within 24 months of the date the ordinance is signed by the designating body.
7. That a deduction schedule was passed by Common Council pursuant to
Richmond City Ordinance Number 65-2013 and that said deduction schedule is
applicable to the deductions approved along with these findings.
NOW, THEREFORE, the Common Council of the City of Richmond, Indiana, now makes
the following findings:
1. That the estimate of value of the redevelopment or rehabilitation, as to real
property, or the estimate of cost of the new manufacturing equipment, research
and development equipment, logistic distribution equipment, or information
technology equipment, as to personal property, is reasonable for projects of that
nature or equipment of that type.
2. That the estimate of number of individuals who will be employed or whose
employment will be retained can be reasonably expected to result from the
proposed described redevelopment or rehabilitation, or from the installation of the
new manufacturing equipment, research and development equipment, logistic
distribution equipment, or information technology equipment.
3. That the estimate of annual salaries of those individuals who will be employed or
whose employment will be retained can be reasonably expected to result from the
proposed described redevelopment or rehabilitation, or from the installation of the
new manufacturing equipment, research and development equipment, logistic
distribution equipment, or information technology equipment.
4. That any other benefits about which information was requested are benefits that
can be reasonably expected to result from the proposed redevelopment or
rehabilitation, or from the installation of the new manufacturing equipment,
research and development equipment, logistic distribution equipment, or
information technology equipment.
5. That the totality of the benefits is sufficient to justify the deduction.
6. That the improvements to the real estate described in the SB-I must be completed
within 24 months of the date the ordinance is signed by the designating body.
7. That a deduction schedule was passed by Common Council pursuant to
Richmond City Ordinance Number 65-2013 and that said deduction schedule is
applicable to the deductions approved along with these findings.
THEREFORE, be it ordained by the Common Council of the City of Richmond, that the
following property owner meets the requirements for property tax assessed valuation deductions, as
follows:
REAL ESTATE - 10 YEARS
City of Richmond, Indiana, for The Stride Rite Corporation
Jobs Retained: 130
Jobs Created: 114
Estimated New Value: $1,400,000.00
Dated: December 10, 2013
QPassed and adopted this 0fZ— day of 2014, by the Common
Council of the City of Richmond, Indiana. 7
President
ATT �--
(Karen Chasteen, IAMC, MMC)
PRESENTED to the Mayor of the City of Richmond, Indiana, thiss day 2014,
at 9:00 a.m.
(Karen Chasteen, IAMC, MMC)
PPROVED by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this Ag day of
014, at 9:05 a.m.
CW/',"ayor
(Sarah L. Hutton)
ATT T:
(Karen Chasteen, IAMC, MMC)
STATEMENT OF BENEFITS 20 PAY 20_
REAL ESTATE IMPROVEMENTS
State Form 51767 (R412-13) FORM S13-1 I Real Property
Prescribed by the Department of Local Government Finance
PRIVACY NOTICE
This statement is being completed for real property that qualifies under the following Indiana Code (check one box): The cost and any specific individual's
❑ ment or rehabilitation of real estate improvements IC 6-.-12.-salary information is confidential; the
Redevelopment t1114
p p ( ) balance of the filing is public record
❑ Residentially distressed area (IC 6-1.1-12.1-4.1) per IC 6-1.1-12.1-5.1(c) and (d).
INSTRUCTIONS:
1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body requires
information from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise, this statement must be
submitted to the designating body BEFORE the redevelopment or rehabilitation of real property for which the person wishes to claim a deduction.
"Projects"planned or committed to after July 1, 1987, and areas designated after July 1, 1987, require a STATEMENT OF BENEFITS. (IC 6-1.1-12.1)
2. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to initiation of the redevelopment or
rehabilitation, BEFORE a deduction may be approved.
3. To obtain a deduction, a Form 3221RE must be filed with the County Auditor before May 10 in the year in which the addition to assessed valuation is
made or not later than thirty (30) days after the assessment notice is mailed to the property owner if it was mailed after April 10. If the property owner
misses the May 10 deadline in the initial year of occupation, he can apply between March 1 and May 10 of a subsequent year.
4. Property owners whose Statement of Benefits was approved after June 30, 1991, must attach a Form CF-VReal Property annually to the application
show compliance with the Statement of Benefits. (IC 6-1.1-12.1-5.1(b) and IC 6-1.1-12.1-5.3Q)J.
5. The schedules established under 1C 6-1.1-12.1-4(d) for rehabilitated property apply to any economic revitalization areas designated after June 30, 2000,
unless an alternative deduction schedule is adopted by the designating body (IC 6-1.1-12.1-17). The schedules effective prior to July 1, 2000, shall
continue to apply to economic revitalization areas designated before July 1, 2000.
SECTION•- •
Name of taxpayer
C/ OG �C /chmo�v ilFve-7w Swi E-,a7r- Aepwm
Address of taxpayer (nurhber and street, city, state, and ZIP code)
5P IV
Name of contact person Telephone number
E-m ' address
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT
Name of gnating body
Resolution number
o on &4v l
16-/9 y
Location of property
County
DLGF taxing district number
Description of real pr perty improvements, redevelopment, or rehabilitation (use additional sheets if n saary)
Estimatel stqrt date (month, day, year)
•�NT�iTi.'1 p� !�NDl�.4�Q'✓ Qc�'72� �/G67'' /NCGv1F�/NEi
� / /
Estim/ t / pletion date (month, day, year)
SECTION 3 ESTIMATE OF EMPLOYEES
AND SALARIES AS RESULT OF PROPOSED PROJECT
Curtent numberI Sala 'es
3a �
Salaries
Number retained Sal 'es Number additionalSECTION
0 3y17L�
4 ESTIMATED
TOTAL COST AND VALUE OF PROPOSED PROJECT
REAL ESTATE IMPROVEMENTS
COST
ASSESSED VALUE
Current values
cop
Plus estimated values of proposed project
Less values of any property being replaced
Net estimated values upon completion of project
SECTION• • AND OTHER
BENEFITS PROMISED BY THE TAXPAYER
Estimated solid waste converted (pounds)
Estimated hazardous waste converted (pounds)
Other benefits
SECTIONCERTIFICATION
1 h by rti that t I s in this statement are true.
nature o rized r rese
Title
Date signe�(mon/�a ��r)
01�w
Ai✓ PSARaKZA5
Page 1 of 2
FOR USE OF THE DESIGNATING :..
We find that the applicant meets the general standards in the resolution adopted or to be adopted by this body. Said resolution, passed or to be passed
under IC 6-1.1-12.1, provides for the following limitations:
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. Residentially distressed areas ❑ Yes ❑ No
C. The amount of the deduction applicable is limited to $
D. Other limitations or conditions (specify)
E. The deduction is allowed for /y years* (see below).
F. Did the designating body adopt an alternative deduction schedule per IC 6-1.1-12.1-17? ❑ Yes ❑ No
If yes, attach a copy of the alternative deduction schedule to this form.
We have also reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have
determined that the totality of benefits is sufficient to justify the deduction described above.
Approved (signature and title of authorized mem r of designating body)
Tel hone number
Date signed (month, day, year)
(
Attested b (signat re nd title ester)
Designat
*If the designating body limits the time period during which an area is an economic revitali /iokeleeXait 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.
A. For residentially distressed areas, the deduction period may not exceed five (5) yea
B. For redevelopment and rehabilitation or real estate improvements:
1. If the Economic Revitalization Area was designated prior to July 1, 2000, the deduction period is limited to three (3), six (6), or ten (10) years.
2. If the Economic Revitalization Area was designated after June 30, 2000, and is not in a residentially distressed area, the deduction period may not
exceed ten (10) years.
Page 2 of 2
Form SB-IA
City of Richmond, Indiana
Taxpayer Wage & Benefit Information
Company Name, Address & Contact Person: rYE Y ,C.c7T/
der
J�� cJt 471r—'
The information requested on this supplement to form SB-1 must be completed and submitted
along with your SB-1 in order for your tax abatement request to be considered by Richmond
Common Council. Please retain your records and calculations used to arrive at the information
requested on this form. It is subject to review as a part of our monitoring process.
1. Average hourly wage for existing employees $ 5•
2. Average hourly wage for projected new positions $ /-V 0/zD
3. Average hourly health insurance benefit $ Z-5 -7S
1. The length of the abatement you are requesting f0
(A 1-10 year abatement may be requested for real estate improvements and manufacturing equipment.)
2. If purchasing equipment, please attach a list that includes the following:
• brief description of each piece of equipment being purchased
• the projected useful life of each piece of equipment
• the state(s) in which the equipment is being brought into Indiana from if purchasing used
equipment
• the cost of each piece of equipment
• state if the machinery is being purchased or leased
• if the machinery is being leased, provide information from the lease that explains which
party is responsible for paying the property taxes
3. If making real estate improvements, please provide a list that includes the following:
• brief description of the real estate improvement (new construction, rehab, expansion, etc.)
• size of the proposed real estate improvements
• costs of the proposed real estate improvements
DEFINITIONS
1. Average hourly wage for existing employees: for your most recent pay period please provide the
average base wage per hour for all current full time, non -supervisory employees. Do not include the
following groups:
A. part time employees;
R management, supervisors, foremen, or any other supervisory personnel;
C. owners, stockholders, or partners if they own 2% or more of the business, and their
family members.
2. Average hourly wage for projected new positions: Use the same definition of employees to be included
as in number one above.
3. Average hourly health insurance benefit: Please provide the current company paid health insurance
benefits provided to hourly employees (as defined above) and family members. Please present in the
form of an hourly rate computed using the annual cost per eligible employee divided by 2080 hours.
lam' ij4 r ? 1.6
(Authorized Signature and Title) (Date)