HomeMy Public PortalAbout003-2018 - Abatement - Omen USA - EquipmentCOMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA
ORDINANCE NO.3-2018
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 WITH ALTERNATIVE
ABATEMENT DEDUCTION SCHEDULE
WHEREAS, The Common Council of the City of Richmond, Indiana, 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 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, 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 is also entitled to deductions from the
assessed value, pursuant to Indiana law, 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 the Common Council to approve a Statement of Benefits to allow a
standard 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,
Page 1 of 5
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.
WHEREAS, On January 17, 2012, the Common Council approved an ordinance establishing an
alternative abatement deduction schedule pursuant to IC 6-1.1-12.1-17, known as
Ordinance No. 76-2011, in order that a business that receives a deduction under IC 6-
1.1-12.1-4.5 may apply for the alternative deduction, provided that said business
provide proof of applicable justification for the requested deduction meeting the
following criteria:
Alternative abatement deduction schedule of 75% for 10 years if all of the
following requirements are met:
a. $3,000,000 minimum investment, and
b. A minimum of ten (10) new full-time employees are hired and maintained,
and
c. Wages paid to new employees must pay 50% above the state minimum wage,
and
d. Major medical health insurance is provided to all full-time employees, and
e. All improvements and new hires must be completed within three years of the
date of the signed ordinance approving the Statement of Benefits for a business,
and
f. Failure to meet any of the requirements outlined in a. through e. above shall
require that the alternative abatement deduction schedule revert to the standard
ten (10) year abatement deduction schedule outlined in IC 6-1.1-12.1-4d(10) for
real estate improvements and IC 6-1.1-12.1-4.5d(10) for personal property
beginning with the number of years remaining for the abatement (for example, if
a personal property abatement is in its 6th year, the final four years' deductions
would be 40%, 30%, 20% and 10%, respectively).
2. Additionally, if the minimum conditions outlined in # 1 b., # 1 c., and # 1 d. above
are met, increase the alternative abatement deduction described above by 5% if
the business invests a minimum of $5,000,000 or by ten (10%) percent if the
business invests a minimum of $10,000,000.
3. If the minimum conditions outlined in # 1 a., # 1 c., and # I d. are met, the Richmond
Common Council may increase the alternative abatement deduction described
above by 5% if the business adds a minimum of twenty (20) new employees, or
by ten (10%) percent if the business adds a minimum of thirty (30) new
employees.
Page 2 of 5
4. If the minimum conditions outlined in # 1 a., # 1 b., # 1 c., and # 1 d. above are met,
increase the alternative abatement deduction described above by 5% if the
business pays at least double the state minimum wage for new employees hired.
5. The percentage increases described in #2, #3, and #4 above are independent of
each other. As such, a qualifying applicant could possibly achieve a one hundred
(100%) percent deduction.
6. A business requesting an alternative abatement deduction schedule shall provided
a letter requesting an alternative abatement deduction schedule and shall provide
proof of the applicable justification with the standard application materials.
NOW, THEREFORE, be it ordained by the Common Council of the City of Richmond,
Indiana, that the Common Council 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, 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.
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.
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.
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.
NOW THEREFORE, be it also ordained by the Common Council of the City of Richmond,
Indiana, that the following property owner meets the requirements for property tax assessed valuation
deductions, as follows:
MANUFACTURING EQUIPMENT — 10 YEARS
Omen USA, Inc.
Current Jobs: 31
Jobs Retained: 31
Jobs Created: 34
Estimated New Value: $10,125,000.00
Dated: January 2, 2018
Page 3 of 5
NOW THEREFORE, be it also ordained by the Common Council of the City of Richmond,
Indiana, that in accordance with criteria #6 as listed on the alternative abatement deduction schedule,
the above -listed property owner has provided a letter requesting an alternative abatement deduction
schedule, has requested a one hundred percent (100%) deduction for ten (10) years, and has provided
proof of the applicable justification to show that the property owner has met the following applicable
criteria:
A. The investment will exceed the $3,000,000.00 minimum investment
requirement in accordance with criteria #la.
B. A minimum of ten (10) new full-time employees are hired and maintained in
accordance with criteria # 1 b.
C. Wages paid to new employees must pay 50% above the state minimum wage
in accordance with criteria # I c.
D. Major medical health insurance is provided to all full-time employees in
accordance with criteria # 1 d.
E. The investment will exceed a minimum of $10,000,000.00 in accordance with
criteria #2.
F. The investment will exceed the thirty (30) new full-time employees
requirement in accordance with criteria #lb and 0.
G. The wages paid to new employees will exceed double the state minimum
wage in accordance with criteria # 1 a., # 1 b., # 1 c., # 1 d., and #4.
H. All improvements and new hires will be completed within three (3) years of
the signed ordinance approving the Statement of Benefits in accordance with criteria #1 e.
NOW THEREFORE, be it also ordained by the Common Council of the City of Richmond,
Indiana, that the above -referenced property owner may receive the requested one hundred percent
(100%) deduction for the ten (10) year period.
Passed and adopted this �t day dc__y the Common Council of the
City of Richmond, Indiana.
ATTEST:
(Karen Chasteen, IAMC, MMC)
President
Page 4 of 5
PRESENTED to the Mayor of the City of Richmond, Indiana, this day ofj—z/zz�18,
at 9:00 a.m.
(Karen Chasteen, IAMC, MMC)
APPROVED by me, David M. Snow, Mayor of the City of Richmond, Indiana, this o(o day of
2018, at 446r ate.
Mayor
Sno
ATTES
(Karen Chasteen, IAMC, MMC)
Page 5 of 5
OMEN USA, INC.
1600 RICH ROAD
RICHMOND, IN 47374
Jack W. Cruse
Director
Department of Infrastructure and Development
City of Richmond
50 North 51' Street
Richmond, IN 47374
Dear Mr. Cruse;
Pursuant to Ordinance No 76-2011, Omen USA, Inc., is requesting application of alternative abatement
deduction on new manufacturing equipment placed in service in 2016 — 2020 (Section Le of Ordinance
No. 76-2011 allows for 3 year acquisition period) at 1600 Rich Road.
Included are forms SB-1 for acquisitions during years 2016, 2017 and 2018 — 2021.
The conditions required for 100% abatement under Ordinance No 76-2011:
1. Minimum investment of $10,000,000 — The Form SB-1/PP filed for 2016 — 2020 total in excess of
$35,000,000 of new investment to Richmond and to the state. (See the attached details.)
2. Minimum 30 new employees —The Form SB-1/PP filed for 2016 — 2020 total 200 new full-time
non -supervisory employees by December 31, 2020. (See attached details.)
3. Wages to be paid of at least double the state minimum wage —The Form SB-1/PP filed for 2016
— 2020 reflect projected wages for non- supervisory employees of $16.42/ hour which is double
the state minimum wage. In addition major medical insurance will be provided to all full time
employees.
The enclosed SB-1 forms for 2017 and 2018 — 2021 meet the above requirements and we request 100%
abatement. It should be noted that the form for 2017 is considered a late filing with the result that the
first year of abatement could be lost. We request that the Council grant a waiver of late filing and grant
the entire 10 year abatement on all acquisitions under this abatement.
The SB-1 form for 2016 supports a 90% Abatement under Ordinance No 76-2011
1. Minimum investment $3,000,000 - 75%
2. Minimum of 30 new employees —additional 10% abatement deduction
3. Minimum of at least double the state minimum wage —additional 5% abatement deduction.
The enclosed SB-1 form for 2016 is considered a late filing with the result of potential loss of first and
second year of abatement. Omen properly filed for 103/104 for the 2016 acquisitions, noted as not
placed in service at January 1, 2017. Omen will pay personal property taxes on these assets in 2018. We
request that an abatement be approved that will allow these assets be reported in May, 2018 with a CF-
1 and thus lose only one year of the 10 year abatement.
Filing on a stand-alone basis for 2016 year rather than being included in the 3 year period for
acquisitions, effectively disqualified Omen from the 100% abatement for this year. Note that the special
100% abatement is based upon acquisitions within a 3 year period. Omen clearly exceeds all
requirements for a 100916 abatement on all acquisitions including those acquired in 2016. We, therefore
request that a 100% abatement be granted for the remaining 9 years of the abatement period for the
2016 SB-1 as well as the 2017 and 2018 -- 2021 abatement requests. Omen is already being penalized
on the abatement for the 2016 additions by paying tax for the first year of the abatement period.
In total Omen will invest well over $30 million in plant equipment and create 200 new jobs paid above
minimum wage with insurance benefits. We are also beginning plans for additional expansion the
building. We, therefore, request that we be considered for the maximum abatements and time frame
that can be allowed on all acquisitions from 2016 -- 2021 as requested in the attached forms SB-1.
Thank you for your consideration of our application.
Sincerely,
RXecutive V.P.
Plant Manager
STATEMENT OF BENEFITS
PERSONAL PROPERTY
.` State Form 51764 (R4 / 11-15)
�.�. Prescribed by the Department of Local Government Finance
INSTRUCTIONS:
FORM SB-1 TRP
PRIVACY NOTICE
Arry information concemwg the cost
of the property and specific salaries paid
to indvidual employees by the property
owner is confidential per IC 6-1A-12.15.1.
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 a nt in making its decision about whether to designate an Economic Revitatlzation Area. Otherwise this statement must be
to the de ''gnahn� bocbi BEFORE a person installs the new manufacturing equipment and/or research and development equipment and/or
logistical distribution equipment andbr information technology equipment for which the person wishes to daim a deduction.
2 The statement of benefits form must be submitted to the designating body and the area designated an economic revitalization area before the installation
of qualifying abatable equipment for which the person desires to darm a deduction.
3 To obtain a deduction, a person must file a certified deduction schedule with the personas personal property return on a certified deduction schedule
(Form 103-ERA) with the township assessor of the township where the property is situated or with the county assessor if there is no township
assessor for the township. The 103-ERA must be filed between January 1 andMay 15 of the assessment year in which new manufacturing equipment
and/or research and development equipment antibr kogistitaJ distribution equipment and/or informatrore tech equipment is Installed and fully
functional, unless a filing extension has been obtained. A person who obtains a filing extension must file the form tween January 1 and the extended
due date of that year.
4. Property owners whose Statement of Benefits was approved, must submit Fore CF-I/PP annually to show compliance with the Statement of Benefits.
(IC 6-1.1-12 1-5. 6)
5. For a Form SB-1/PP that is approved after June 30, 2013, the de ''gnatiny body is required to establish an abatement schedule for each deduction allowed.
For a Form S9-1/PP that is approved prior to July 1, 2013, the abatement schedule approved by the designating body remains in effect (IC 6-1.1-12.1-17)
SECTION 1 TAXPAYER INFORNIATION
Name of taxpayer Name of contact person
Omen USA Inc Dror De —Porto
Address of taxpayer (street and number, city, state. ZIP rode) Telephone
number
1600 Rich Road Richmond IN 47374 1765-200-6007
PROPOSEDSECTION 2 LOCATION AND DESCRIPTION OF
Name of designating body
Resolution number (s)
Common Council of Richmond
10-1984;11-1991
Location of property
County
DLFG taxing district number
1600 Rich Road Richmond IN 47374
Wayne
Richmond
Description of manufacturing equipment and/or research and development equipment
ESTIMATED
and/or logistical distribution equipment and/or information technology equipment
(Use additional sheets if necessary)
Start Data
Completion Date
Manufacturing Equipment 01/01/2017
12/31/2020
see attached
R & D Equipment
Logist Dist Equipment'
IT Equipment
SECTION 3 ESTIMATE OF EMPLOYEES AN:� SALARIES AS RESIUILT OF PROPOSED PROJECT
Current number Salaries Number retained Salaries Number additional Salaries
31 899,000 31 899,000 39 986,000
PROPOSED PRCIECT
NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the MANUFACTURING
COST of the property is confidential. EQUIPMENT
R & D EQUIPMENT LOGIST DIST IT EQUIPMENT
EQUIPMENT
Cost
Assessed
Value Cast
Assessed
Value Cost
Assessed
Value
Cost Value
Current values
Plus estimated values of proposed project
10, e25, 000
Less values of any property being replaced
Net estimated values upon completion of project
10,125, 000
SECTION 5 WASTE CONVERTED AND OTHER
BENEF11S PROM.ISED BY THE TAXPAYER
Estimated solid waste converted (pounds)
Estimated hazardous waste converted (pounds)
Other benefits:
Health insurance will be provided to all full time employees
I hereby certify that the representations ' is st re true.
Signature of authorized
Da sig (month, day, yyear)PMMIVW—
t l:
Printed name of authorized afive
Pn o
Troe
- P
Form S8-11PP, page 1 - NACTP 1585 - Software only copyright 62017 01S, Inc. ClientA oc 25221.000
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 1C 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).T he date this designation expires
Is .NOTE: This question addresses whether the resolution contains an expiration date for the designated area.
B. The type of deduction that is allowed in the designated area is limited to:
1. Installation of new manufacturing equipment;
❑ Yes ❑ No ❑ Enhanced Abatement per IC 6-1.1-12.1-18
2. Installation of new research and development equipment;
❑ Yes ❑ No Check box if an enhanced abatement was
3. installation of new logistical distribution equipment.
❑ Yes ❑ No approved one more of these types.
4. Installation of new information technology equipment
❑ Yes ❑ No
C. The amount of deduction applicable to new manufacturing equipment is limited to $ cost with an assessed value of
$ . (One or both lines maybe riled out to establish a limit, if dewed.)
D. The amount of deduction applicable to new research and development equipment is limited to $ cost with an assessed value of
$ . (One or both lines may be filled out to establish a limit, if desired.)
E. The amount of deduction applicable to new logistical distribution equipment is limited to $ cost with an assessed value of
$ . (One or both lines maybe riled out to establish a limit, if desired.)
F. The amount of deduction applicable to new information technology equipment is limited to $ cost with an assessed value of
$ . (One or both lines may be riled out to establish a limn if desired.)
G. 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 is allowed for.
❑ Year 1 ❑ Year 2 ❑ Year 3 ❑ Year 4 ❑ Year 5 ❑ Enhanced Abatement per IC 6-1.1-12.1-18
❑ Year 6 ❑ Year 7 ❑ Year 8 ❑ Year 9 ❑ Year 10 Number of years approved:
(Enter one to twenty (1-20) years may
not exceed twenty (20) years.)
1. For a Statement of Benefits approved after June 30, 2013. did this designating body adopt an abatement schedule per IC 6-1.1-12.1-177 ❑ Yes ❑ No
If yes, attach a copy of the abatement schedule to this form.
If no, the designating body is required to establish an abatement schedule before the deduction can be determined.
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.
(signature and title of authorized member of designating body) I Telphone number I Date signed (month, day, year)
Printed name of authortzed member of designating body I Name of designating body
by. (signature and title of attester) I Printed name of attester
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 A-12.1-4,5
IC 6-1.1-12.1-17
Abatement schedules
Sec. 17. (a) A designating body may provide to a business that is established In or relocated to a revitalization area and that receives a deduction under section
4 or 4.5 of this chapter an abatement schedule based on the following factors:
(1)The total amount of the taxpayers investment in real and personal property.
(2)The number of new full-time equivalent jobs created.
(3)The average wage of the new employees compared to the state minimum wage.
(4)The infrastructure requirements for the taxpayers investment
(b)This subsection applies to a statement of benefits approved after June 30, 2013. A designating body shall establish an abatement schedule for each deduction
allowed under this chapter. An abatement schedule must specify the percentage amount of the deduction for each year of the deduction. An abatement schedule
may not exceed ten (10) years.
(c)An abatement schedule approved for a particular taxpayer before July 1, 2013. remains in effect until the abatement schedule expires under the
terms of the resolution approving the taxpayers statement of benefits.
Page 2 of 2
Form SB-1/PP, page 2 - NACTP 1585 - Software only copyright 0 2017 DIS, Inc. Clienl/Loc 25221.000
r— Form SB-1A
City of Richmond, Indiana
Taxpayer Wage & Benefit Information
Company Name, Address & Contact Person:
Omen USA, Inc., 1600 Rich Road, Richmond, IN 47374
Contact person: Dror De -Porto
The information requested on this supplement to form SB-1 must be completed and submitted along with
your SBA 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 $ 0.00
2. Average hourly wage for projected new positions $ 16.42
3. Average hourly health insurance benefit $ 3.76
1. The length of the abatement you are requesting
(A 1-10 year abatement may be requested for real estate improvements and manufacturing
equipment) 10 year abatement
2. If purchasing equipment, please attach a list that includes the following: see aeedeo
• 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;
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 hole p n al cost per eligible employee divided by 2080 hours.
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ORDINANCE NQ 76-2011
A SPECIAL OiRDRaN(M ALLOWjKG AN ALTUNA7'"ANATF.k13T NT
DEDUCTION SGMMIILE FORPROPERTYOWN= OBTAPMG
DEDD'MONS FWM MWAOM VALUE OF CiI:RTAIN PROPERTY WLZ�1
AN ECONOMIC REV1TALWATXiON AREA
WBWA-% P MUaat to Indiana Law, LC. 6-1.1-12.1 et. seq., the Common Councrl of
the City cf fthmwda Won may find tint a particaks area wMn the city
is an Economic Revitelisation Area which provides as as economic
developaed incentive certain property tax deductions fnr the
radevdopownt or rehabilitation of real propmty or the i ntalation of new
meuoeu wtmd g eqaon4nt; and,
WRERaAS, the Comma CMVWA has previot* adapted Resolution No. 10-1984
which deApates certsiu areas in the city as Economic Revittriizedon Area
and sets forth certain procedures for an owner to obtain certain deductions
dwak-
WEMAW, Resolufm No.10-1984 bas p wAaWy been amended to add other areas as
an ERA; defiddon the 9w to the od*d ardhowg setting firth
the time periods in which a deduction is allowed; and odwr
prooaduM for obtawas deduction (see Resolution 2-1997,11-1989,11-
1991, 3-1996, Oridimnoes 72-1996, W1996, 113-1997, 19-2000, 29.
2006, 31-2007); and
WBUMAS, Indiana law laic poevio * allowed the owner cfreal property and peamal
property boded within an eoammic food lizoon, am to request a
ova # one (1) to tat (10) year period and has previou*
established the sched"for race property dew
and personal Property de&wdwK and
WI —W, Abatean& deduction schedules for heal p gmrEy and persomd property am
sot fixth and outlined by hdiaw Law ad the Common. Coined, as the
d body, •nmy appaa the number of yms my given din
applioaai may take an appmved ded ; and
WHEIREA As set forth in the above4e6mmoed Resolutions aad Ordinances Common
CouaA as the g body, has p u iau dy determined the VOW"
tune period in each SpwW Oc+duiaosve WWoving a spedHc Swanent of
Beoefits; and
WHBREAAS, Effeoft J* 1, 2011, Indiana Cock (IC) 6-1.1-12.1-1 et seq pmvides a
body, finalft to approve an alternative abatement deduction
schedule on either• real estate and/or personal property to a %min= that is
established in, or relocating to an economic revitsfinflon area and reoeim
a deduction; and
VABREAS, For purposes of this Or&aw4 an alternative abate deduction is
defined as the deduction mown wW*" by the Common Council, mid
said deducum amoum may be qOW wmally provided that all
roqu. , . of this Or&wnce am met; and
For puqmw of this Onfiewwr, an shunatwe sbatenuft deduebon
whmk& is defined as a de&wdm amount and time period, not to awed
tan (10) yearn, eftabMW by the Cannon Camcil as parnitted by Indiana
law, and
Commaa Council desires to estab&& guidelim in accardawe, with India=
Code (IQ 6-1.1-12.1-17 that may pauft an dt&wdive abated
deduction schedule for businesses expanft or relocating in economic
ravitabstion now in Ricbmwd.
NOW, WOPA BE ff ORDARM by the Common Council of the City of
Richw=4 Indiana that the Ahawlive AbatementDoductka ScbedWle addidma are sa
for* W fMOWL
I. Ricbwond Common Council may utilhe an skem*w abstanot deduction
**ed* of a 75% deduction for 10 years if A of the ffollowiM toquitments are ma:
& $3,000,000 ndrknum invesftwid, and
b. A misimmm of ten (10) new W-time employees are hired and.
maintained, and
C% Wages paid to now wVbym must pay 506A above the state
minimum We, and
d. Ma* medical heakh bsumaw is provided to all AdW=
employ M and
C AN b4xvvmsw and now: hiswd be aompW, w-MmAbree
years ofthe daft oft waigned or&nw appwAng the StdwwdofBene&s fbr a
buofi=6 and
f Fulum to mod any of the req*wnewts oufflned in a. &=* e.
Am Ad reqWW that the shawfive abatemout deduce schedule revat to the
standard ton (10) year ab#wnd deduodon ado" oudined in IC 6-1.1-12.1-
4d(I0) ffir red a abe improvements and IC 6-1.1-12.1-4.5d(I0) for persoaal
pvpedy beginft with the number of years rcumiaing fi)r the Awtonat (fix
Comb if a pasond pvpaW abdemed is In its e M the fiW Aw yOW
dedoctiom; would be 40%, 30K 2D% and I^ reVec&*).
2. Addnhiouatly, if the muumnn conditions outlined in #1h., 91a, and Ad.
above are nik Itic moo Common Council may ienmmse the ahernative abatem�
dMA*d above by 5% if the businew ky ate a midmum of $5,000,000 or by
ten (106A) percent if the business invests a ndnimun of S10,000,00%.
3. If the minimum cons oudhwd in #Ia., 01c., and #Id. are met, the
Richmond Common Caund may iacxease the ahawifve abdesa t deduction dyad
above by 5% if the busium adds a aWnsm of twenty (20) new awoyees, or by ten
(10%) Peroeact if the busiow adds a minimum of thirty (30) new employees
4. If the mia MM cmfitions obt1med in Pa, #Ib., #lc., and #Id. above are
mot, fibs Rk bwoud Common Council may kame the altumfive abawaut deduction
descmbed above by 5% if the businaes pays at least doable the state minimum wage £or
new employces hired.
5. 116 percentage desmtW is A 93, and #4 above are
bwmdt�Ot>of each
%) P � a Qna>ifying appGcas�t could posa�iy achieve a cos
6 A business requee ft an tdtwna dve ababemem doduWbw w bedule sball
.provided a Lett w requeofiug an aftnuat ive abatement deduction schedule and Ad provide
proof of fine W icable ju ion with the standard application ma aims.
`i:1► 1► 1 � :1► rn ; ri t . /; � � 1 r � tr.. t tnn •;i r u h 1 rt.
1 L.wY�
PRBSBMI M to the Mayor of the City of Rkhmood, Intlhma, this I th day of Jawba y,
2012, at 9:00 am,
LAW, ADAC
APPIi OM by met Sarah L. Hutt, Mayor of the City ofM mood, b &ana, this i8th
day of Jatniaby, 204. at 9:05 a.m.