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HomeMy Public PortalAbout023-2008 - Tax Abatement - Innatech - equipment.pdf.w.exhORDINANCE NO. 23-2008 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 WHEREAS, Common Council 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 Common Council to approve a Statement of Benefits to allow a deduction, it must make the following findings, to -wit: I . 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 the improvements to the real estate described in the SB-1 must be completed within 24 months of the date the ordinance is signed by the designating body. NOW, THEREFORE, the Common Council of the City of Richmond, Indiana, 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 the improvements to the real estate described in the SB-1 must be completed within 24 months of the date the ordinance is signed by the designating body. THEREFORE, be it ordained by the Common Council of the City of Richmond, that the following property owner meets the requirements for property tax assessed valuation deductions, as follows: REAL ESTATE - 10 YEARS Innatech, LLC Jobs Retained: 105 .lobs Created: 19 Estimated New Value: $2,513,574 Dated: March 20, 2008 Passed and adopted this Z day of March 2009, by the Common Council of the City of Richmond, Indiana. President (Bruce Wissel) 01 ATTES 4&41�1 Clerk (Karen Chasteen) PRESENTED to the Mayor of the City of Richmond, Indiana, this __1.. day of March, 2009, at 9:00 a.m. Clerk (Karen Chasteen) APPROVED by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this day of March 2009, at 9:05 a.m. Mayor (Sarah L. Hutton): ATT S City Clerk (Karen Chasteen) RECEIVED MAC � A, AM STATEMENT OF BENEFITS REAL ESTATE IMPROVEMENTS `'« State Form 6478T (RZ f 1.07} Piesoribed by the Elepadmen of Local Government Finance This statement Is belag eompEeted lorreal property that qudlas under the IuOovving Indlena Cade (check arm boo; ® Redevelopment or rebablUtallon of real estate Improvements pC 5-1.1.12.14) ❑ liligibte vacant 4u0dlmg QC &4.4.12.4.4.tn 2000 PAY 2010 FORM 6841 Rea€ Property INSTRUCTIONS f. Thls sfatarrwnt must be subMad to the body desomlinp the Econornlc ReWtailzallm Arne prior fo #vpublrc hewlnp tRke dos narfnp body>ogulm Informallon bm the appfkant hr meft Its dwJafon about whether to dea(pnata an Ecort mk RaWa0zagonAms, OUmvwlae IRIS slatemont must he aubmfCed to the dealgnallaQ boap+ @kFORE the tadev�e7opmeaf orfeheftitlfstiar of real praparly for which tRo pe►ear wlat+ae to claim a ateduchtnrt. 9P►o/ecls' p(annadorocmrrAedloaBerduly1,1987andarwssdaslpnate 0wJwyI,1987rrqulreaSTATF1HGWOF9ENEHM(1C&1.14z.1) 2. Approval of fire desl8natfne body (Co CouncfL Town Seam; Cwto Council sk.) mud be obtained pnbr fn htlde8wf of Ahr> reaevaloprnenf orrchebu#sfkrr NEFORE a dednr t1an may beapppmmd 3. To amain a deduction, OX&atfaw Form 322 ERAlRt: orFmm 322 ERANSA tN Mavar b sAWMP, must be No wfth 0w Co&V AuaRorby Me later aF (1) hley 10,, or (2) My (30) d3ya after tho eo8oe a(ad0an b assesmad vskraibn or now assemamatt la ma&d to 8tapnopatly owtw at the ad ma sholvn on the remids of thatownshlp asessor, 4. PlppatiyOMWMwhowStafemenfofSaftotewasapgovedafferJune3a,19lit,nwdadachaForm Cr- 1/RWPA*Wtyann"ytothaAw/caffmb show oorr40eeae with the stahwwl olasneBs PC a-tt-12, f-5.Ift and IC 6-1.1-12.14VI S. The schadufas edabflshodundar10 6.1.1.12. 14d} for nahaWftlsd pmpav(y and wrdarIC & t I-12.1-48(l) for vacant bWkgis apply to any sfafvrnanl of bens is approved on or after duly 1, 200a. The sedadrres of cHmprhu to Ju(y 1, 2094 shaf eonlinue, to apply to a sfalerwtofbeneRts tAW betom duty 1, 2000.. . Nameotteer -_ __ Innatech LLC 10 ygar abatement re ested Address of taxpayer (number and streaf, city, slate, and ZP code) 750 Letica Drive Rochester MI 48307 Name of contad persan T3;a ot: rasa .............. >x-mdt aCclitss Robert Bradin i+�df#tft � 8naz�taafb�tlw�:+y tti(sofrr•.3txi �;uiti�af City of Richmond Common Council Location of property purify .OI.MU0&Wit-Wwn mtw 4200 industries Road, . .Richmond IN 47374 wayr:e Center/Wayzle Descdpson of real praparty Improvemmnts ►edevetapment, or tehebiglatlon (use addlHanatalmefs Ifnecsesary} Estimated etart dale (ramth. day. yaadj Add 37,000 additional square feet to facility 04/01/2008 including construction costs, painting, surface Estimated compla!londale (mopth,day, YW and exterior access road, air conditioning, design, foundations, drains and roofi3;. 03/31/2010 SEC Gc:Ts®i#.riit�rihaa' §"r$tipfEiS� i�'r3'r#47f' i�€eUi� 581�Ee8 i�RnpTiNF eld+lE�iird .�2dArlR7c 11 5 3,, 000 105 3, 292e 000 i.9 504, 000 TOTAL NOTE. Pumuord to IC F3"1.1-12.1.5.1 (d) (2) the COSW Iha ptopady #tEAf i'&YATE l O�lF ht7 s is confden@sl. �.K, f�4' A89�.�� i"ie6rerf4 YGlFIf?"o n :t. i-"1 ' 664 Plus aelinated values of proposad Project 2,513,574 fit.#.4 oluu less values of any property being replaced Not estimate values upon canplallon of project, `:, `"4 3,701,000 Estimated solid waste eanveded (poundej Estmated hazardous Mats o WWad (pouaV Olney Wttollki ., l its# c8oLf ftt the ra resenta ibris 111,2h s('. efkt go -true, fgeC(g)JO' ziXBdt�laf�Tolff# tascp ( 1day sry , C'11 ARK � • S � t^t�Q .,. <�., �� Fann SO-1 r R" PrnP®ry. page t - Copyright 42W W ftt aienW,oa 11260 We have reviewed our prior adiona retafiag to the destgnatfon of MIB Ecnnomle Revitafitatton Area errd find that the applkent "W" the gmreral ctanderda adopted in the rosotullon previously approved by this body. Said nmohMon, paaaW under IC 8.1.1A2.1, prWiWas rar the follewing ilmhodons: A. The deslanobA area has bean "led fo a period of firMM 10 exoeed_catendar yam • (sae beooThe data this designaiton B. Ttur type of deduction that Is .allowed In the dealgnatad area Is Omitted to 1. Redevelopment errehabfiltetlon of rani estate Improvements; ] Yes © No 2. Reslderdieilydislressed areas © Yea d No �, occupancy of a vacant building ❑ Yes © No C. The amount or deduction applicable Es ttmitad ta: D. Otherlimliationsorcandttlona (Speck} ..... ... I...... - -- --... t« The deduction is allowed for ywr 4affa b • We have also revlewad the infuriation contained in the stater mtof bensfits and find that die estlmatas and ergpecta0wts are ressonshia and have datermined that the lotailty of bent Is suMaignt to Juattfy the deduction described above. Ofure and 0 -atrfh Zed a(desWMVA0 bDdi) --.-.--.- ;rid a Oii;�iibar Wto sf odJrWft ffoy, YWq r (srgna[dn3 and Hjfa2of allasferj _ < 1]ta�iirjd taad3rjJ ,�, ` • if the dasignating body Brits the firm period during which an area Is an omomic revilalizethm area. It does riot fimll the length of time a taxpayer is entilled to receive a deduction to a number of years daslgrWed under IC 6-1.1.12.1.4. A. For residentially distressed eras, the deduceon period may not exceed ftva f) years. a. For redevelopment and rehabifitafton or reel astete improvements: 1. Irthe Economic Revitalkmhon Arms was deslgealad prior to J41, 2000, Ore deduoion period Is limited to three (3), SIX (S), ar tan (101 years. 2. It the Ec onornto Revitalization Aronwas d*signated aOter June 20, 2a00, the deduction period may not a wAed ten 110) years. C. For vacant buildings, the deduction period may not mood two (2) yeam, Fwm SEMME, page 2 - CapvdgM 0 2007 DK Ina. Qusuq.oe Form SB-1 A City of Richmond, Indiana Taxpayer Wage & Benefit Information Company Name, Address & Contact Person: Robert Bradin — (248) 601-7902 Innatech, LLC 4200 Industries Rd Richmond, IN 47374 The Information requested on this supplement to form 88-1 must be completed and submitted along with your SI3-1 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 12.'r37........ 2. Average hourly wage for projected now positions t . 3. Average hourly health insurance benefit SM ....... . ..,.. .,. �...,............................................ ....... 1. The length of the abatement you are requesting (A 1-10 year abatement may be requested for real estate Improvements and manufacturing equipment.) 2. If purchasing equipment, please attach a list that includes the following: 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 real 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 kpurly rate computed using the annual cost per eligible employee divided by � t hvsrM (Authorized Signature and Title) as ARrr . s ,'4\V'S40W