The URL can be used to link to this page

Home My Public Portal About052-2023 - Tax Abatement - Menasha - Real Estate COMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA ORDINANCE NO. 52-2023 A SPECILAL ORDINANCE AUTHORIZING THE APPROVAL OF A STATEMENT OF BENEFITS FOR APROPERTY OWNER APPLYING FOR DEDUCTIONS UNDER K.C. 6-1'8-I2'1 WHEREAS, Cornnomo Council has previously designated eight economic revitalization areas within the City uf Richmond; and WHEREAS, I.C. 6-1.1 l2.| requires the Cunnnon Council as the designating entity to approve all 3tu1cnoeois of" Benefits required to be Oiod by property owners applying for deductions in usscaycd valuations tbr the installation of new nnunutoctudng equipment, research and development equipnncnL logistic dburihudnn equipment, or information technology equipment or for the redevelopment or rehabilitation of real property; and VYUERE/\S, An owner of real property located in an economic revitalization area is entitled to deductions Oronntbc assessed value, pursuant to Indiana law and Richmond City Ordinance, for uperiod of any number ofyears less than or equal to ten (\0) years (i.e. one to ten years); and VVH£RE/\S, An owner of new manufacturing equipment, research and development equipment, logistic distribution equipment, or information technology equipment is also entitled to deductions from the usucxucd value, pursuant to In(Earia law and Richmond City Ordinance, for a period of any number of years less than or equal to five (5) years (i.e. one to five years); and VV}IEF<E/\3, In order for Common Council to approve u 81uteoneni of Benefits to ul|ovv u deduction, it must make the [o)|ovviog findings, to-wit: l. That the estimate of value of the redevelopment or rehabilitation, as to real property, or the cxbnou1e of cost of the new manufacturing equipment, research and development equipment, logistic distribution equipment, or information technology equipment, as to personul property, is reasonable for projects ofdhaino1ureorcquipnnonio[ihut(ypc. 2. That the estimate of number oF individuals who will hc employed nrwhose employment will bo retained can bcreasonably expected to result fionnthe proposed described rcdcvc|opnocn< or rehabilitation, or from the iontu||u<ion of the new manufacturing equipment, research and devc|nnrncnt equipment, logistic distribution equipment, or in[wonation technology equipment. . , . , 3. That the estimate o[ annual xu|ark:s o� those individuals who will he cmploycd o, whose employment will be retained can be reasonably expected to result from the proposed duacdhcd rcdovc}opnueoi or ,rehabilitation, or from the installation of the new ouoou[uciuriog equipment, nuucuccb and dcvc|opnocui equipment, logistic distribution equipment, or information technology equipment, 4. That any other benefits about Which information was requested are benefits that can bc reasonably expected tu result, From the proposed rcdcvc|opnocnt or rehabilitation, or from the ioxtui|odoo of the new manufacturing equipment, rcscu,cb and dcvc\opnncni uquiponcnL logistic distribution equipment, or information technology equipment. 5. That the totality, of\hehencfi\s is euOicicnitn justify the deduction. 6, That installation ofthe equipment described in the SB-1 must be completed 'Within 24 months of'the date the ordinance is signed hy the designating body. Further, the uhahenncn( is |ionkcd to the equipment listed in the S0' \. 7. That o prior deduction schedule was passed by Common Council pursuant ,to Richmond City /\nocndod Ordinance Number 44'2023 and that said deduction schedule is applicable to the deductions approved along with these findings. NOW, l]lE&EFOFlE, the Common Council of'the City V[llicbnoond, Indiana, now makes the following findings: i, That the estimate o[vo|uemfthc redevelopment orrehabilitation, as to rcu\ property, or the codnou1e 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 pr jectuofibu1nuturc or equipment o[|buitype. 2, That the estimate of number of individuals who will be employed or whose employment will be retained can be reasonably expected to result frorn the proposed described ncdcvc|npnoeni o, rehabilitation, or From the installation n[ the new manufacturing equipment, research and ,dovc|upnoent equipment, logistic distribution cqoipnocnt, or iucunnNiou technology equipment. 3. That the cstirnuLc of annual salaries of' those individuals who will be ,employed or whose employment will be retained can he ncommnuh|y expected in result brnru the proposed described rcdcvc|uprocnt or rehabilitation, or From the ivaiu||aVi*u of the new manufacturing equipment, research and development equipment, logistic distribution e9uiprncni, or information technology equipment. 4. 1lhatunyothcrhcocfi1uohoutv/hicbiufbrnoudonvvonrequcstcdurchcncUts that can be reasonably expected to result From the proposed redevelopment . . , equipment, rcacu,ch arid dcvc|opnnco( equipment, logistic distribution equipment, or information technology equipment. 5. That the totality of the benefits is sufficient(o juxiifvthe deduction. 6- That installation of the equipment described in the SB-I 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' l. 7. That a prior deduction schedule was passed by Common Council pursuant to Richmond City &rncndcd Ordinance Number 49'2023 and that said deduction schedule is applicable iothe deductions approved along with these findings. NOW THERETORE, be it ordained by the Common Council of the City of Richmond, that the following property owner i-neets the requirements for property tax assessed valuation deductions, aafoA|ov/e: DEAL ESTATE —MAXIMUM 10 YEARS Menasha yankugiog Company, i.L[ [urrco1]oru: 271 Jobs Retained: 27| JnhxCccu\cd: 75 Estimated New Value: $6,000,000.00 Dated: Ncvcmhc, 8, 2023 Allocation Finalized and Approved byCouncil: Year |: Yeur0: Ycur2: Year 7: Year 3� ��,� Y�n8�� Year 4: _ �� __. Year 9: _ ynur5: ��'w�_ Year 10:Pass _° �= d adopted 6v theCommon Counui| of the City of Richmond, Indiana, this� ~~ ' �- 4� ( ATTC (Karen Chusteu, k\MkC, MMC) "'.,4RESENTED to the Mayor of the City of Richmond, Indiana, this ^r�� day of 2024, at9:00a.m. (Karen Chuaiccn, l&MC, pNYWC) r, 9b.D, Mayor o[the City ofRichmond, Indiana this day of 2024, u19:05u.m. Mayor (Ron O|cr, Ph.D] /\TTE8]��X (Kuren Chaotccn, l/\MC, MMC)