HomeMy Public PortalAbout016-2018 - Special - Updating requirements for deduction schedule abatementsCOMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA
ORDINANCE NO.16-2018
A SPECIAL ORDINANCE ESTABLISHING AND UPDATING
ADDITIONAL MINIMUM CRITERIA FOR PROPERTY OWNERS
REQUESTED DEDUCTIONS FROM ASSESSED VALUE OF
CERTAIN PROPERTY WITHIN AN ECONOMIC REVITALIZATION AREA
WHEREAS, Pursuant to Indiana Law, I.C. 6-1.1-12.1 et. seq., the Common Council of the City of
Richmond, Indiana (hereinafter "Common Council") as a designating body may find
that a particular area within the city is an Economic Revitalization Area which
provides as an economic development incentive certain property tax deductions for
the redevelopment or rehabilitation of real property or the installation of new
manufacturing equipment; and
WHEREAS, The Common Council has previously adopted Resolution No. 10-1984 which
designates certain areas in the City as Economic Revitalization Areas and sets forth
certain procedures for an owner to obtain certain deductions therein; and
WHEREAS, Resolution No. 10-1984 has previously been amended to add other areas as an ERA;
making definition changes to the original ordinance, setting forth the time periods in
which a deduction is allowed, and establishing other procedures for obtaining
deductions (see Resolutions 2-1987, 11-1989, 11-1991, 3-1996, Ordinances 72-1996,
90-1996, 113-1997, 19-2000, 29-2006, 31-2007, 76-2011, 65-2013, and 66-2013);
and
WHEREAS, Indiana Code (IC) 6-1.1-12.1-17 sets forth that the Common Council as the
designating body may provide to a business that is established in or relocated to a
revitalization area and that receives a deduction under IC 6-1.1-12.1-4 or IC 6-1.1-
12.1-4.5 an abatement schedule based on certain factors; and
WHEREAS, It is in the best interests of the citizens of the City of Richmond, Indiana, that the
Common Council establish updated additional minimum criteria for each of the
factors to be considered under the City of Richmond's regular deduction schedules
(see Ordinance 65-2013) for personal property and real estate deductions permitted
by IC 6-1.1-12.1 et seq. for applications received subsequent to the passage of this
Special Ordinance.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of Richmond,
Indiana, that, in accordance with Indiana Code 6-1.1-12.1 et seq., the following additional criteria
shall be established and updated by the Common Council for the regular deduction schedules for
personal property and real estate deductions permitted as follows:
1. To be considered for a one (1) to five (5) year abatement, taxpayers
with a proposed project investment of less than Two Hundred Fifty Thousand Dollars
($250,000.00) listed and certified as the estimated value of said proposed project
must submit a statement of benefits form certifying as follows:
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a. The taxpayer's proposed project will have at least five (5) new
employees; and
b. All current and new employees will be paid an average minimum
wage of at least Twelve Dollars ($12.00) per hour; and
C. All current and new employees wages will include major medical
policy benefits.
2. To be considered for a one (1) to five (5) year abatement where no
new employees will be hired, taxpayers with a proposed project investment of less
than Five Hundred Thousand Dollars ($500,000.00) listed and certified as the
estimated value of said proposed project must submit a statement of benefits form
certifying as follows:
a. All current employees will be paid an average minimum wage of at
least Twelve Dollars ($12.00) per hour; and
b. All current employees wages will include major medical policy
benefits.
3. To be considered for a five (5) to ten (10) year abatement, taxpayers
with a proposed project investment of more than Five Hundred Thousand Dollars
($500,000.00) listed and certified as the estimated value of said proposed project
must submit a statement of benefits form certifying as follows:
a. The taxpayer's proposed project will have at least five (5) new
employees; and
b. All current and new employees will be paid an average minimum
wage of at least Twelve Dollars ($12.00) per hour; and
C. All current and new employees wages will include major medical
policy benefits.
This 9rdinance shall be in full force and take effect upon its passage. Passed and adopted this
day o �0�8, by the Common Council of the City of Richmond, Indiana.
President
J opeman)
ATTES
(Karen Chasteen, IAMC, MMC)
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PRESENTED to the Mayor of the City of Richmond, Indiana, this A) day of OI8
at 9:00 a.m.
ity Clerk
(Karen �Chaste�en, IAMC, MMC)
APPROVED by me, David M. Snow, Mayor of the City of Richmond, Indiana, this �_ day of
4AN2tq 20I 8, at :i ' 1- 0 S i ,,0
Mayor
vid M.
ATT
(Karen Chasteen, IAMC, MMC)
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