HomeMy Public PortalAbout057-2016 - Tax Abatement - Vandor - EquipmentCOMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA
ORDINANCE NO. 57-2016
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 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, 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-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, 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:
MANUFACTURING EQUIPMENT - 10 YEARS
Vandor Corporation
Current Jobs: 47
Jobs Retained: 47
Jobs Created: 5
Estimated New Value: $1,300,000.00
Dated: October 3, 2016
Passed and adopted thi§,,g_L_ day of���04k, by the Common Council of
the City of Richmond, Indiana.
�7
,President
`(Bruce Wissel)
ATT ST:
(Karen Chasteen, IAMC, MMC)
PRESENTED to j�he Mayor of the City of Richmond, Indiana, thip,� day of
,� 00 a.m.
(Karen Chasteen, IAMC, MMC)
APPROVED by me, David M. Snow, Mayor of the City of Richmond, Indiana, this
_ day of too J c_,-m g- . , 2016, at 9:05 a.m.
r
Mayor
M.Sn
ATTE �./'� 1 sk-�-'
(Karen Chasteen, IAMC, MMC
sT4T
GD STATEMENT OF BENEFITS FORM SB-1 / PP
PERSONAL PROPERTY
State Form 51764 (R 11-06) in PRIVACY NOTICE
�616 Prescribed by the Department of Local Government Finance 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 .
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 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 1 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. 16-1.1-12.1-5.6)
5. The schedules established under IC 6-1.1-12.1-4.5(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 6-1.1-12.1-4.5(f) and (g))
Name of taxpaye // w�+0(,� ✓ r
Address of taxpayer (number and street city state, and ZIP code) TTe;fFephone
numberName of contact person�r, 9lG -74 7�
Resolution number (s)
Name of designating body p n /
vn 4"' ' ^ ¢ o DLGF g district number
Location of properly County +
IG2o LO,20� Wn n. ►` �c 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 %OA,
R & D Equipment
Logist Dist Equipment
IT Equipment
Lu
Number retained Salaries Number additional $p�ariac
Cunent number Salaries `s 2 j7 �y CAL
q-7 I l,tan� 11000 1 V7 1,600 oo -
MANUFACTURING R & D EQUIPMENT LOGIST DIST IT EQUIPMENT
NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the EQUIPMENT EQUIPMENT
COST of the property is confidential. COST ASSESSED COST ASSESSED COST ASSESSED VALUE COST ASSESSED VALUE
VALUE VALUE
Current values
Plus estimated values of proposed project i 3cooc
Less values of any property being replaced
Net estimated values upon completion of project •
Estimated solid waste converted (pounds)
Other benefits:
Estimated hazardous waste converted (pounds)
I hereby certify that the representations in this statement are true.
Title Date signed (month, day, year)
Signature of authoriz representative G, J�/� he
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
B . 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; ❑Ye s N o
3. Installation of new logistical distribution equipment. ❑Yes FIN.
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 $ __ cost
with an assessed value of $ __ --- —_______-
E . The amount of deduction applicable to new logistical distribution equipment is limited to $ cost with an assessed value of
F. The amount of deduction applicable to new information technology equipment is limited to $ cost with an assessed value of
a Other limitations or conditions (specify)
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 ❑ 6 years ** For ERAs established prior to July 1, 2000, only a
❑2 years ❑ 7 years 5 or 10 year schedule may be deducted.
❑ 3 years ❑ a years
❑4 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.
Approved: (signature and title of authorized member) Telephone number Date signed (month, day, year)
Attested by:
Designated body
* If the designating body limits the time period during which an area is an economic revitalization 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 6-1.1-12.1-4.5
Form SB-°IA
r ` City of Richmond, Indiana
-' Taxpayer Wage & Benefit Information
fr
l 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 2' 9 F
2. Average hourly wage for projected new positions 01, 12 ' vd
3. Average hourly health insurance benefit --7
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 Indiana 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 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;
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.
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.
(Authorized Signature and Title) (Date)
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