HomeMy Public PortalAbout077-2013 - Abatement - Vandoor - EquipmentAMENDED ORDINANCE NO.77-2013
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.
A
5. That the totality of the benefits is sufficient to justify the deduction.
6. That installation of the equipment described in the SB-I must be completed
within 24 months of the date the ordinance is signed by the designating body.
Further, the abatement is limited to the equipment listed in the SB-I.
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 installation of the equipment described in the SB-1 must be completed
within 24 months of the date the ordinance is signed by the designating body.
Further, the abatement is limited to the equipment listed in the SB-1.
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, 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:
EQUIPMENT — 10 YEARS
Vandor Corporation
Jobs Retained: 56
Jobs Created: 10
Estimated New Value (Manufacturing Equipment): $288,000.00
Total Estimated New Value: $288,000.00
Dated: November 22, 2013
Passed and adopted this day
Council of the City of Richmond, Indiana.
/:7
(Karen Chasteen, IAMC, MMC)
of 2014, by the Common
i
President
PRESENTED to the Mayor of the City of Richmond, Indiana, thjR.2, day of( �14,
at 9:00 a.m.
(Karen Chasteen, IAMC, MMC)
APP ZOVED by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this_ day of
2014, at 9:05 a.m.
t/ 4'ayor
(Sarah L. Hutton)
ATTE T:oe
(Karen Chasteen, IAMC, MMC)
STATEMENT OF BENEFITS
�.
PERSONAL PROPERTY
i
State Form 51764 (R 1 1-06)
Prescribed by the Department of Local Government Finance
INSTRUCTIONS:
FORM SBA / PP
PRIVACY NOTICE _
The cost and any specific individual's
salary information is confidential; the
balance of the filing is public record
per IC 6-1.1-12.15.1 c and d).
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 a person installs the new manufacturing equipment and/or research and development equipment and/or logistical distribution
equipment and/or information technology equipment 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 installation of the new manufacturing equipment
and/or research and development equipment and/or logistical distribution equipment and/or information technology equipment, BEFORE a deduction may
be approved
3. To obtain a deduction, a person must file a certified deduction schedule with the person's personal property return on a certified deduction schedule (Form
103-ERA) with the township assessor of the township where the property is situated. The 103-ERA must be filed between March i and May 15 of the
assessment year in which new manufacturing equipment and/or research and development equipment and/or logistical distribution equipment and/or
information technology equipment is installed and fully functional, unless a filing extension has been obtained. A person who obtains a filing extension must
file the form between March 1 and the extended due date of that year.
4. Property owners whose Statement of Benefits was approved after June 30, 1991, must submit Form CF-1 / PP annually to show compliance with the
Statement of Benefits. (IC6-1.1-12.1-5.6)
5. The schedules established under /C 6-1.1-1Z 1-4.5(d) and (e) apply to equipment installed after March 1, 2001. For equipment installed prior to March 2,
2001, the schedules and statutes in effect at the time shall continue to apply. (IC 64.1-12.1-4.5(f) and (g))
SECTION. -
Name of taxpayer / 1
i,' P W� /7v^
Address of taxpayer (number and street, city, s ate, and ZIP code)
Name of contact person
Telephone number
SECTION• •N AND DESCRIPTION OF • •PROJECT
Name of designating body f /
m�., �J✓l.Cr .� C.t �lL�mci,
Resolution
rrnumber (s)
AC)-l7isy. //_I
Location of property n I /
16(10 1`lCh � /
County J /
W(',
DLGF taxing district number
/Zt C�.nC_�
Description of manufacturing equipment and/or research and development equipment
ESTIMATED
and/or logistical distribution equipment and/or information technology equipment.
START DATE
COMPLETION DATE
(use additional sheets if necessary)
Manufacturing Equipment
/
R & D Equipment
Logist Dist Equipment
IT Equipment
SECTIONOF • OF • •
. PROJECT
Current number Salaries Number retained Salaries
G ),33) 3C13 5-6 1 3V 5 3-i3
Number additional Salar es
i8 av
r0SECTION
4 ESTIMATED
TOTAL COST AND
VALUE OF PROPOSEDPROJECT
NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the
MANUFACTURING
R 8� D EQUIPMENT
EQUIPMENT
IT EQUIPMENT
COST
ASSESSED
VALUE
COST
ASSESSED
VALUE
COST
ASSESSED
VALUE
COST
ASSESSED
VALUE
COST of the property is confidential.
Current values
Plus estimated values of proposed project
Less values of any property being replaced
Net estimated values upon completion of project
SECTION• AND OTHER
Estimated solid waste converted (pounds)
Estimated hazardous waste converted (pounds)
Other benefits:
SECTION
I hereby certify that the representations in this statement are true.
Signature t orizr tative
Title
Lr--w
Date signed (m nth, d� year)
l I �2L //�
We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the general standards
adopted in the resolution previously approved by this body. Said resolution, passed under IC 6-1.1-12.1-2.5, provides for the following limitations as
authorized under IC 6-1.1-12.1-2.
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
The type of deduction that is allowed in the designated area is limited to:
1. Installation of new manufacturing equipment; ❑Yes ❑ N o
2. Installation of new research and development equipment; ❑Yes ❑ N o
3. Installation of new logistical distribution equipment. ❑Yes ❑ N o
4. Installation of new information technology equipment; ❑Yes ❑ N o
C. The amount of deduction applicable to new manufacturing equipment is limited to $
cost with an assessed value of
D. The amount of deduction applicable to new research and development equipment is limited to $
with an assessed value of $
E . The amount of deduction applicable to new logistical distribution equipment is limited to $
The amount of deduction applicable to new information technology equipment is limited to $
G. Other limitations or conditions
cost
cost with an assessed value of
cost with an assessed value of
H, The deduction for new manufacturing equipment and/or new research and development equipment and/or new logistical distribution equipment and/or
new information technology equipment installed and first claimed eligible for deduction on or after July 1, 2000, is allowed for:
❑ 1 year El years ** For ERNs established prior to July 1, 2000, only a
❑2 years El years 5 or 10 year schedule may be deducted.
El years 08 years
04 years ❑ 9 years
❑ 5 years 10 years**
Also we have 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.
Ap ro : (signature and title fauthorized member) mc Telephone number Date signed (month, day, year)
Attested by: ti / n-.., . , --
* If the designating body limits the time period during which an area is an economic re itali area, it does not limit the length of time a taxpayer is
entitled to receive a deduction to a number of years designated under IC 6-1.1-12.1-45
3 Form SBAA
City of Richmond, Indiana
Taxpayer Wage & Benefit Information
f Company Name and Address: Vandor Corporation
The information requested on this supplement to form SB-1 must be completed and submitted
along with your S13-1 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 - % /. N
/0; 5c)
2. Average hourly wage for projected new positions
3. Average hourly health insurance benefit
1. The length of the abatement you are requesting
10 YEAR
(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 In
from if purchasing
used equipment
• the cost of each piece of equipment
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
the average base wage per for all current t full time, non -supervisory employees. s: for your most recent pay period please provide
not
include the following groups:
A. part time employees;
B. 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. aid health
3. Average hourly health insurance benefit: Please provide the current company p
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.
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