HomeMy Public PortalAbout004-2018 - Abatement - Omen USA - EquipmentCOMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA
ORDINANCE NO.4-2018
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 i 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:
1. 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., # l 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 # 1 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-1.
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: 65
Jobs Retained: 65
Jobs Created: 135
Estimated New Value: $23,767,000.00
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 # 1 a.
B. A minimum of ten (10) new full-time employees are hired and maintained in
accordance with criteria #lb.
C. Wages paid to new employees must pay 50% above the state minimum wage
in accordance with criteria # 1 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,,:)- day f e22k4*- y the Common Council of the
City of Richmond, Indiana.
President
,7 v��!
v�
ATTEST, /l
(Karen Chasteen, IAMC, MMC)
Page 4 of 5
PRESENTED to the Mayor of the City of Richmond, Indiana, thig!� day o 8,
at 9:00 a.m.
Clerk
(Karen Chasteen, IAMC, MMC)
APPROVED by me, David M. Snow, Mayor of the City of Richmond, Indiana, this 1) (0 day of
(C('A! �, 2018, at 9- .. 3 2
A
(Karen Chasteen, 1AMU, MMU)
Mayor
id M. S ow
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 51h 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 i.e 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 100% 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,
>pVyP'orto
tive V.P.
nt Manager
STATEMENT OF BENEFITS
PERSONAL PROPERTY
State Form 51764 (114 / 11-15)
Prescribed by the Department of Local Government Finance
INSTRUCTIONS.
FORM SB-1 / PP
PRIVACY NOTICE
Any infwrnation concerrrng the cost
of •re Properly and apecik salaries paid
to indtvidud employees by the property
owner is confidential per IC 6r1.1-12./-5.1.
I. This statement must be submitted to the body desgnating the Economic Revitalization Area prior to the public hearing if the designating body requires
information from the a : t in making its decision about whether to designate an Economic Revitalization Area. Otherwise this statement must be
to the designatifig & BEFORE a person installs the new manufacturing equipment andlor research and development equipment, and/or
logistical dnWbuhon equipment and�br information technology equipment for which the person wishes to claim 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 claim a deduction.
3. To obtain a deduction, a person must file a certified deduction schedule with the person's personal property retum on a certified deduction schedule
assessor for Form �jtow with the
The township03-E sttassessor fb theefiled between III
where
as ry i en May 11 of ft assessment year d or with the county w! � nif ew m nufacturfng equipment
and/or research and development equipment amW logistical distnbutron equipment and/or information techn equipment is installed arM fully
functional, unless a filing extension has been obtained. A person who obtains a filing extension must file the form January 1 and the extended
due date of that year.
4. Property owner; whose Statement of Benefits was approved, must submit Form CF-11PP annually to show compliance with the Statement of Benefits.
(IC 6-1.1-12.1-5.6)
5. For a Form SB-11PP that is approved after June 30, 2013, the designating body is required to establish an abatement schedule for each deduction allowed.
For a Form SB-1/PP that is approved pnor to July 1, 2013, the abatement schedule approved by the designating body remains in efirect. (IC 6-1. 1- 12.1-17)
SECTION
Name of taxpayer Name of contact person
Omen USA Inc Dror De —Porto
Address of taxpayer (street and number, city, state, Zip code)
1600 Rich Road Richmond IN 47374
Telephone number
765-200-6007
SECTION 2 LOCATION AND DESCRiPTION OF PROPOSE[) PROJECT
Name of designating body
Resolution number (a)
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
and/or logistical distribution equipment and/or information technology equipment
ESTIMATED
(Use additional sheets ifnecessaryj
Start Date
Completion Date
Manufacturing Equipment 01
/ 01 / 2 018
12 / 31 / 2 0 21
R & D Equipment
Logist Dist Equipment'
IT Equipment'
SECTION 3 FS'INIATE OF Er,,PLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT —
Current number Salaries Number retained Salaries Numberadditional Salaries
65 1,885,000 65 1,885,000 135 3,915,000
SECTION 4 ESTII`�ATED TOTAL. COST
AND VALUE OF PROPOSED
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
C
esost Value Cost
Value Cost
Assessed
Value
Cost Value
Current values
Plus estimated vakies of proposed project 23, 767, 000
Less values of any property being replaced
Net estimated values upon completion of project 23, 767, 000
SECTIONOTHER
Estimated sold waste converted (pounds)
Estimated hazardous waste converted (pounds)
Other benefits:
Health Insurance will be provided to all full time employees
SECTION
1 hereby certify that the representations in this nt are true.
Signature of authorized represen
D
sigr(month, day, year)
i
Z6
Printed name of a
Title p
form SBAIPP, page 1 - NACTP I MS -Software only copyright ®2017 DIS, Inc. Clwaoc 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 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 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 D Yes ❑ No approved for one or 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 filled out to establish a fink if desired.)
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 maybe filed out to establish a limn ifdesired.)
E. The amount of deduction applicable to new logistical distribution equipment is limited to E cost with an assessed value of
$ . (One or both lines may be filled 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 filled out to establish a Aunit, 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 ❑ Number of years approved:Year 8 ❑Year 9 ❑Year 10 (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 or authorized member of designating body I Name of designating body
by. (signature and We 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 6.1.1-12.1-4,5
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 infrestrhxcture 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
Fomn SB-1IPP, page 2 - NACTP 1585 - Software only copyright 0 2017 DIS, Ina ChenV Loc 25221.000
Form SB-1A
City of Richmond, Indiana
Taxpayer Wage & Benefit Information
Company Name, Address & Contact Person:
Omen USA, Inc.,1600 Rich Road. Ridimond, IN 47374
Contact person: Dror De -Porto
The information requested on this supplement to form S13-1 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 $ 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 formal estate improvements and manufacturing
equipment) loyearabatement
2. If purchasing equipment please attach a list that includes the following: see att o
• 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 neat 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 houernSia1 cost per eligible employee divided by 2080 hours.
(Authorized
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ORDINANCE Na 76-2ou
A SPECIAL ORDINANCE ALLOWjNG AN ALTER11T,t1►IM ABAMMUNT
DEDUi,`MN SCIMULE FOR PROPERTY O'WMM fl JTAVWG
M3
DRDucnoNS BRW AVALUE OF C�TAIN PROPERTY WrZBM
AN ECONOMIC REVITALWATION AREA
WIREAS, poasusat to Indiana Law, M 6-1.1-12.1 et. seq., the Common Council of
the City of Rkhmon4 Indiana may Sad that a patficular area within the edy
is an Economic Rsvltali :&* n Area which provides as an eoonomic
development ueowfhm owtain property talc deduc6ains for the
redevdopment or mh*ilitation of teat property or the Male on of new
mamftc aria$ egtipneat; =d,
WHU ASS, the Common Council has pt+ev MWy adopted Rmkdion No. 10-1984
which deskmtes certria area in the city as Economic Revitalhadon Areas
and sets fOd h cataia prOcedim for an owner to obtain certain dednefiaas
SAS, RWOludoa No.10-19'84 has prevlm* been amended to add other area as
an ERA; de"on to the oe&d ordinance; wftg &a
the time periods in which a dedoodw is allowed; and Ong other
FuCedum Sot olfthi-mg dehwdm (seeR oldtiow 2-1987,11-1989, 11-
1991, 3-1996, Oo inaeoer 72-1996, W1996, 113-1997, W-2000, 29-
2006, 31-20071 and
w , Iod a= hw her pr+av m* aggwed the owner ofreai proopeaty and persond
propeaty located within an eoow mic revdafizgbm area to request a
cod lion over it me (1) to ten (10) year period and has previoaely
esbWshed the abatemamtdeduc" scheduler 1br real property dew
and personal ley dedoodons; and
WEMRU
schedules fi w veal p vpedy and personal property arc
set forth and milined by Inci�eoa Law and the Cowa=. Counck as the
de+ aabiag body. -=W 9prow the amber of yeahs any .givw deduction
t MY talm an gVwved de&rftom; and
VVHRM AS, As ad faith in the above.4alkenced Rh ens and Ordinances Cammon
Counsel, as the dig body, has preWoasay detem&W the applicable
time period m mch Spacial "mm Wroft a apeac Stateeahutt cf
Benew sad
W.i38RF.A8, Et%e July 1, 2011, Indiana Coda (IC) 6-1.1-12.1-1 et seq. provides a
de0poB body AeAb* to approve as alternada abdentu t deeluchion
scuxWe on eidrer real eatrte and/or pacaonai property to a busithass that is
esiabhelbeci in, or relocating to an economic revitalizedw anew And receives
a oA- and
WHWAS, For pRuposes of this orcruu� an altemnative abatemwt deduction is
defined as the deduefion amount OSWAkW b7► the Common Counck and
samd deduction amend may be applied annually FWWW that all
requircomws afthg OA&awc are met and (:
VAMMEAS, For
Pm'PoM of this Ordinance, an altmntive abatenhat deduction '
wbeMe is defied as a deduction amount and time period, not to v eed +'
tea (10) Yew esta# nshed by the Common Counca'i as pamdtted by Indiana
law, amp
WIIBRU S, Common Cow desinea to a:ta6lish SWAOU as in acoordance with Jadians
(ode (IC) 6-1.1-12.1-17 that may punk an alterrm ve abateaat
deduction schedule for bum agxux ng or g in etc
rVVkMlizahion area in Rom.
NOW, THFRBFf A B8 IT ORDAIN M by the Common CouwA of the City of
end, Indiana, that the.AlumAive AbMNMW won Sche" Guid&w are at
forth as foRm.
1- Ridmiond Common Council may uty'lna' D an eve abstement deduction
of a 75% deduction for 10 yam hall of the FAOWing reqWremeoft we met:
a. $3.000,000 mWmum kyestme1g, and
b. A -A r , of ten (10) now gg time employees are hired and
maw, and
C. Wages Paid to new � nnmt pay 50% above the state
mimesis wage, and
d. MW nmdicMd health imah MWe is provided to all f&time
and
All *Mv+em wb and near -hires umat be comp acvsfb t three
yeas ofthe date oftheaig W M(PORWO Wn"JIDS the _fit ofBau to for a
buohbesk and
£ Faihme to mse# say of the requirements outlined in a. through e.
above shall requim that the alternative abdomw deduction sahedute revert to the
standard ten (10) year abawmW moon, ovdhW in IC 6-1.1-12.1-
4d(10) for reef estate hWwv==ft and IC 6-1.1-12.1-4.Sd(lO) for pmumd
poperty g wkh the manta of years raraWg fr the abatemat (for
if a persond propedy abdement is in its 6* pW-, the farm fir ye*W s
dWucfiOm would be 40Y6, 3^ 20'! and 1^ *).
2. AMfionaUy, if the nklimm conditions outlined in #lb., Re., and #ld.
above are met, Rkhmoud Common Council may increase the abwm&c abaiema t
deducdm desw1W above by 5% if the business invests a minirmun of $5,000,000 or by
ton (10%) percent if the kubuss invests a minimuin of $10,0o0,000,.
3. If the minimum conditions outlined in #la., #la, and #lc1 are me4 the
Ruchmand Common Count may increase the *Mw&e abatemu# deduction dw ajW
above by 5% if the business adds a wWtmnn of twnuty (20) new engployeea, or by ton
(10%) pment if the business adds a minim= ofthirty (30) near employm
4. if the minimum conditions owned in #la., #1b., #lc., and #ld. above am
mck the RhdkM01nd Ccmman Crnuoa may increase the aidwea#iv+e abatemat deduction
d=n1W above by Sao if the business mays at least doable the state minimum wage for
new empkvm }dr,d.
5. 116 PwwnWF Wteases deecxi W in #2, M, and #4 above are
indepeadeatt of each other. As suck a quaffyf% applicant could possibly addeve a one
hundred (lM%) pee W dam.
t% A busies rellues ft an d0mustive abateowt won schedue shalt
provided a letter requeStiva am ahwattive abawmw man schedule and shall p ovide
proof afttue Wfic"justffication with the standard appAicatison materials.
PASSED AM ADOPTED this 17th day of hmuy 201Z, by the Common Count of the
City oMchtuovA Indiauxa.
President
Mathew Quinn
A
Kareru (Moen, IAMCS AdMC ;.
MUMMMD to the Mayw oftha City ofRW=ond, Indian, this 18th day of January,
201Z at M. a.m.
MMC
APPROVED by me, Sarah L. Mwou Mayor of the City ofRirhmo A hat = this 18th
day of Jamcacy, 2012, at 9.05 a.m.
�f Mayor
(So* L. Hutton)
,
Qnfimm
i
,T�AMV-M�C !
r