HomeMy Public PortalAbout029-2021 - Special - Updating Criteria for Regular Tax Abatements COMMON COUNCIL OF THE
CITY OF RICHMOND,INDIANA
ORDINANCE NO.29-2021
A SPECIAL ORDINANCE AMENDING PRIOR AMENDED ORDINANCE
NO. 5-2019 AND 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
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City of Richmond's regular deduction schedules (see Amended
Ordinance 5-2019) 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 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 more 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:
a) The taxpayer's proposed project will have at least five (5)new
employees; and
b) Starting wage for each new or retained job pays a minimum of
$14.00/hour, excluding benefits (not an average rate of pay
for all jobs and starting wage may be less if the hourly wage
combined with the hourly health insurance benefit exceeds
$20.00 per hour); and
c) All current and new employees' benefits will include a major
medical policy.
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
more than Five Hundred Thousand Dollars ($500,000) listed and certified as the
estimated value of said proposed project must submit a statement of benefits form
certifying as follows:
a) Starting wage for each new or retained job pays a minimum of
$14.50/hour, excluding benefits (not an average rate of pay
for all jobs and starting wage may be less if the hourly wage
combined with the hourly health insurance benefit exceeds
$20.00 per hour); and
b) All current employees' benefits will include a major medical
policy.
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f
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) Starting wage for each new or retained job pays a minimum of
$15.00/hour, excluding benefits (not an average rate of pay
for all jobs and starting wage may be less if the hourly wage
combined with the hourly health insurance benefit exceeds
$20.00 per hour); and
c) All current and new employees' benefits will include a major
medical policy.
This ordinance shall be • 11 force and take effect upon its passage. Passed
and adopted this day of ,� 2021, by the Common Council of the
City of Richmond, Indiana.
President
( y ark r
ATTES L,c71
(Karen Chasteen,IAMC, MMC)
SENTED to the Mayor of the City of Richmond, Indiana, this 7 day of
, 2021,at 9:00 a.m.
(Karen Chasteen, IAMC, MMC)
APPROVED by me, David M. Snow, Mayor of the City of Richmond, Indiana, this
0 g day of 5J1,4.1
, 2021, at' :;ten. (Z; t 0"\
ayor
id M.
(Karen Chasteen,IAMC, MMC)
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