HomeMy Public PortalAbout030-2017 - Tax Abatement - Vandoor Corp. - EquipmentCOMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA
ORDINANCE NO.30-2017
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-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:
MANUFACTURING EQUIPMENT — 10 YEARS
Vandor Corporation
Current Jobs: 47
Jobs Retained: 47
Jobs Created: 5
Estimated New Value: $1,005,500.00
Dated: May 17, 2017
Passed and adopted this day ofe�' 2017, by the Common Council of the
City of Richmond, Indiana.
I1
(Karen Chasteen, IAMC, MMC)
PRESENTED to the Mayor of the City of Richmond, Indiana, thi�Z-day of , 2017,
at 9:00 a.m.
OOA—
(Karen Chasteen, IAMC, MMC)
APPROVED by me, David M. Snow, Mayor of the City of Richmond, Indiana, this Z2- day of
2017, ate— -7 S
Mayor
�d M. S
oe
ATTEST. erk
(Karen Chasteen, IAMC, MMC)
STATEMENT OF BENEFITS
PERSONAL PROPERTY
State Fort 51764 (R / 1-06)
Prescribed by the Department of Local Government Finance
1NSTRUCT7ONS.
FORM SBA / PP
PRIVACY NOTICE
The cost and any specific individual's
salary information is confidential; the
balance of thof
filing 1s public record
er IC 6-1.1-12.1 5.1 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 malting 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, 7987, 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 most
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. (IC 6-1.1-12.1-5 6)
5. The schedules established under IC 6-1.142.1-4.5(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(0 and (g))
SECTION•' •
Name of taxpayer / 1
Address of taxpayer (numberand street city, state, and ZIP code) /
Z/Z Sr% %. L/737
Name of contact person
k-
Telephone Aumber
,,h -_
SECTION 2 WCATION AND DESCRIPTION OF PROPOSED P
Name of designating body /
'
Resolution number (s)
COW yyt ,. 0 vh C el l i'fC� t e
Location of property
County
DLGF taxing district tuber
/tee 1 c
Description of manufacturing equipment and/or research and development equipment
ESTIMATED
START DATE
COMPLETION DATE
and/or logistical distrbutioriegupment and/or information technology equipment.
(use additional sheets if necessary)
Manufacturing Equipment
.�15_1/ -7
J
S/.s-//9
/
ca,4 04
R & D Equipment
Logist Dist Equipment
IT Equipment
Current number Salaries Number retained Salaries Number addition Salaries
/7— v U
SECTION 4 ESTIMATED
TOTAL COST AND
PROPOSED7
VALUE OF PROJECT
NOTE: Pursuant to IC 6-1.1-12.1-5.1 d 2 the
() ()
MANUFACTURING
EQUIPMENT
R & D EQUIPMENT
LOGiST DIST IT EQUIPMENT
EQUIPMENT
COST
ASSESSED
VALUE
COST
ASSESSED
VALUE
COST
ASSESSED COST
VALUE
ASSESSED
VALUE
COST of the property is confidential.
Current values
Pius estimated values of proposed project
Less values of any property being replaced
Net estimated values upon completion of project
•A • , r •
. • r
Estimated solid waste converted (pounds)
Estimated hazardous waste converted (pounds)
Other benefits:
SECTION
1 hereby certify that the representations in this statement are true.
Signature of autho ' ad represent
00,
Title
Date signed (mo
ypth,5ay, year)
7
Z4(
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
is
The type of deduction that is allowed in the designated area is.limited to:
1. Installation of new manufacturing equipment;
2. Installation of new research and development equipment;
3. Installation of new logistical distribution equipment.
4. Installation of new information technology equipment;
calendar years" (see below). The date this designation expires
Dyes ❑N o
Dyes E]N o
Dyes ❑N o
❑Yes FJN 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 $
G. Other limitations or conditions
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 ❑ 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 ❑ 8 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)
Attested by:
Telephone number I Date signed (month, day, year)
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
.,Oct-30-OT 11:04am From -CITY OF RICHMOND IN
+7659627024 T-489 P.O2/O2 F-878
�— Form SIR-1A
City of Richmond, Indiana
Taxpayer Wage & Benefit Information
Company Name,, Address & Con!= Person:
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 b,• considered by Richmond
Common Council. Please stain 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. Average hourly wage for projected new positions $ 1 Z'' ` 0
3. Average hourly health insurance benefit $ 3, iSr
The length of the abatement you are requesting
0 1-10 year abatemenr may be requested for real esrare rmprwrneents and rtrvnufucturirtg equ�pmnrrr•1
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 i5 being, purchased or leased
• if the machinery is being leased, provide information from, the lease than explains which
pain is responsible for paying the property taxes
3. if m»t}inn, real c=tatP irnprovetnenis, 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 _stare improvements
13EVINITIONS
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. pan time employees;
B. management, super visors, foremen, or any other supervisory personnel:
C. uwners, stockholders, or parmers 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 insatanez
beTlef 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 ?080 hours.
(Authorized Signature and Title)
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