HomeMy Public PortalAbout051-2023 - Tax Abatement - Menasha - Equipment COMMON COUNCIL OF THE CITY OF RICHMOND, INDDANA
ORDINANCE NO. 51-2823
A SPECIAL ORDINANCE ANTHORIJ]NCI THE APPROVAL OF A
STATEMENT OF BENEFITS FOR A PROPERTY OWNER
APPLYING FOR DEDUCTIONS UNDER I.C. 6-1'1-12.1
YV11E"KE/\8, Connnuou Council has previously designated eight economic revitalization
areas within the City ofKiohnnond; and
WHEREAS, |.C- 6-1.1'12.1 requires the Curnnoou Council as the designating entity to
approve all Statements of Benefits required to be filed by property owners
upc�iying for deductions in assessed vo|uobuna for the installation of new
manufacturing equipment, research and dcvc|opnoon< equipment, logistic
disU.ibudon equipment, o, infhrnno1ioo technology equipment or for the
redevelopment nr rehabilitation uf real property; and
\VUER[/\S, An owner of'real property located in all economic revitalization area is entitled
to deductions from the assessed value, pursuant to Indiana law and Richmond
City Ordinance, for uporiod ofany nunobcrofYcurx |cou than orequal to tell
(|0) years (i,c. one to ten years); and
Wl|E0B/\S, An ov/ucr of new manufacturing equipment, research and dovc|ononroi
equipment, logistic distribution equipment, or iofhnnution technology
equipment is also entitled to deductions bnru the aoueaocd value, pursuant to
Indiana law and Richmond City Ordinance, for a period ofany number ofycars
less than or equal (o five (5�) years (i.c. one \o five yeu,n); and
VV06R]B/\S, |n order for Common Council to approve u Statement of'Benefits tm allow
deduction, it must make the following findingo, 1o'vvit:
l. That the estimate o[value o[the redevelopment mr rehabilitation, um1oreal
property, or the outiono1c of' cost of' the new manufacturing equipment,
research and development equipment, logistic distribution equipment, or
information technology equipment, aaiupersonal property, is reasonable
for pc Jccb o[that nature or equipment of that type.
2. That the estimate ofriumber ofindividuals who will be employed or whose
employment will be retained can be reasonably expected to result from the
proposed described rcdovc|oprneui or rehabilitation, or from the
iostu||uiiou o[ the new manufacturing equipment, research and
devc|opnocoi equipment, logistic distribution cquiponcoL or information
technology equipment.
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3. Tbut the estimate of annual adoricx of those individuals who will be
enop\oycd or whose nnp|oy000ni will be retained can be reasonably
expected to result from the proposed described redevelopment or
rehabilitation, or frnno the inntu||oiinn of the new manufacturing
equipment, research and drvc|opnooni equipment, logistic distribution
equipment, o, information technology equipment.
4. That any other henet its about which infbnnu1ion was requested arc bcocDtx
that can be reasonably expected to result from the proposed redevelopillent
or rehabilitation, o, 6'ono the inx1a|iuboo of the new manufacturing
equipment, research and development equipment, logistic distribution
equipment, or information technology equipment.
5. That the totality ofthc benefits in sufficient tm jusLifv1he deduction.
b. That installation ofthu equipment described iothe SQ'} must bccompleted
v/itkiuZ4 months o[the date the ordinance is signed hy the designating
body. [ucdbcr, the uhuienoeni is |irniicd to the equipment listed in the 58'
|.
7. That u prior deduction schedule was passed by Common Council pursuant
'to Richmond City Amended 0ojinuuco Number 49'2023 and that said
deduction schedule iy applicable tm the deductions approved along with
these findings.
NOW, THEREFORE, tile Common Council o[<he ClityofRichmond, Indiana, now
makes the [b\|ovving Findings:
|. That the estimate ofvo|ueuf[hc redevelopment ur rehabilitation, ustoreal
property, or the estimate of' cost of the new nounoDzc1uring equipment,
research and development equipment, logistic distribution equipment, or
information technology equipment, as to pc,00nn| property, is reasonable
for p, jectsotthotuu1urc o, cqoiprocuio[thu< 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 tile
proposed described redevelopment or rehabilitation, o, fionn thc
iuxto|iudoo of the new manufacturing uquipnncni, ,cxeorcb and
development equipment, logistic distribution cquipnocui or in[bnnubou
technology equipment.
l That thc exdrnute of annual ou|oricu of' those individuals who will be
employed or whose cn!p|oymcnt will be retained can he ,cuaoonNy
expected to result frono the proposed dcxodhed redevelopment or
rehabilitation, or from 1he installation of the new manufacturing
equipment, research and development equipment, logistic distribution
equipment, n, information technology equipment.
4. That any other hcneOtoabout which information was requested are benefits
that can be reasonably expected to result from the proposed redevelopment
o, rehabilitation, or from the installation of the new manufacturing
' .
equipment, rcuourdz and development equipment, logistic distribution
equipment, or information technology equipment,
5. That the totality ofthe benefits is sufficient io juu ifvthcdeduction.
0. That installation of the equipment described in the S13-1 must be completed
within 24 months of the date the ordinance is signed by the designating
body. Further, the abatement ix |inoi1udtu the equipment listed in the SU-
|.
7. That u prior deduction schedule was passed by Common Council pursuant
to F<ichnonod City Amended Ou]iouocs Number 49'2023 and that said
deduction schedule is applicable to the deductions approved along with
these findings.
NOW TI IEREFORE', be it ordained by the Common Council of the City of'Richmond,
that the following property owner meets the requirements tbr property tax oynusoud valuation
deductions, uofnHuvvs:
PERSONAL YRUyBK[Y— MAXIMUM 5 YE,"'/\RS
Menasha Packaging Conopuny, LLC
CuncntJohu: 271
Jobs Retained: 271
Jobs Created: 75
Estimated New Value: $60,000,000.00
Datcd: Nnrcnihcr8, 2U23
Allocation Finalized and Approved byCouncil:
Year |:
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Ycar2:
Yzuc3:
Year4:
yeor5:
adopted by the Com/non Council of the O of Richmond, Indiana, this
day of' ��^��4�
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Yrcaidcnk
ATTE
Al'RE,,SENTFJ) to the Mayor n[ the City of Richmond, Indiana, this (lay of
2U24, at,V:00u.m.
APPRO by me, Ron CVer, PhD, Mayor ofdeCity of Richmond, Indiana this
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day of *� ~� 2U24, a19:05am.
Mayor