HomeMy Public PortalAbout029-2007 - Tax Abatement - Asahitec America Corp - equipm.pdf.ORDINANCE NO.29-2007
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:
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 installation of the equipment described in the SB-1 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-I.
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 installation of the equipment described in the SB-1 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-1.
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:
EQUIPMENT —10 YEARS
Asahitec America Corporation
Jobs Retained: 26
Jobs Created: I
Estimated New Value: $35,995.00
Dated: April 5, 2007
Passed and adopted this ;' day of y 2007, by the Common
Council of the City of Richmond, Indiana.
President
(Di Pappi
ATTE rk
(Karen Chasteen)
P�MSENTED to the Mayor of the City of Richmond, Indiana, this a day of
2007, ate
s'a
ity Clerk
(Karen Chasteen)
APPR VED by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this
day of 2007, at 9:05 a.m.
Mayor
(Sarah L. Hutton)
ATTEST: i C erk
(Karen Chasteen)
fT4i}
STATEMENT OF BENEFITS
PERSONAL PROPERTY
State Form 517&4 (5-04)
re�a Prescribed by the Department of Local Government Finance
A.r ,c, FORM
CEIVO APR 6 9 2097 SB - i PP
INNSTRUCTIONS:
1. This statement must be submitted to the bwdy designating the economic revitalization area prior to the public hearing if the designating body requires
information from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise this statement must be submitted
to the designating body BEFORE a person installs the new manufacturing equipment and/or research and development equipment, andlor logistical distribution
equipment and/or information technology equipment for which the person wishes to claim a deduction. =Projects"planned or committed to after. July 1, 1987
and areas designated after July 1, 1987 require a STATEMENT OF BENEFITS. (iC 6-1. f-12.1)
2. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to installation of the new manufacturing equipment
and/or research and development equipment and/or logistical distribution equipment and/or information technology equipment BEFORE a deduction may
be approved i .
3. To obtain a deduction, Form 322 ERA/PPME and/or Form 322 ERAIPP Other, must be filed with the county auditor. Form 322 ERA/PPME andlor Form 322
ERA/PP Other must be filed between March 1 and May 15 of the assessment year in which new manufacturing equipment andlor research and development
equipment and/or logistical distribution equipment and/or information technology equipment becomes assessable, unless a filing extension has been
obtained_ A person who obtains a filing extension must file the form between March i and the extended due date of that year.
4. Property owners whose Statement of Benefits was approved after June 30, 1991 must submit Form CF-I annually to show compliance with the Statement
of Benefits_ (IC 6-1.1-12.1-5.6)
5. The schedules established under IC 6-1.1-12.1-4(d) and IC 6-1.1-12.1-4.5(e) effective July 1, 2000 apply to any statement of benefits filed on or after
July 1, 2000. The schedules effective prior to July 1, 2000 shall continue to apply to those statement of benefits filed before July 1, 2000.
SECTION•- •
Name of taxpayer
5�-h� �AC ►� t Cs� l�r-- o rC�.�-t u-✓�
Address of taxpayer (street and number, city, state and ZIP code)
61 Ste( S , dl\j 37
Name of contact person
f
}LV1 C
Telephon o number
0.10�-"�y!
Resolution. number
SECTION 2 AND DESCRIPTION OF PROPOSED PROJECT
Name of desiqnatinq body �/
L r (-
Location of property
d 3-
Coun y C
Taxi district
o,
Description of manufacturing equipment andlor research and development equ pment
ESTIMATED
andlor logistical distribution equipment andlor information technology equipment
(use additional sheets if necessary)
Start Date
Completion Date
Manufacturing Equipment;1
y —�to
^
R g D Equipment
Logist Dist Equipment
IT Equipment "
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESU LTI& M&OSED
PROJECT
Current number Salaries Number retained JSalalies
Number additional Salaries
SECTION 4
. TOTAL COST AND
VALUE OF PROPOSEDPROJECT
NOTE: Pursuant to IC 6-1.1-12.1-5.1 d 2 the
( } ()
MEnuipme t
Equipment
& D Equipment
i oglst Dist Equipment* IT Equipment
COST of the property is corfdential.
Cost "t
Assessed
Cost
Assessed
Cost
Assessed Cost
Assessed
Value
Value
Value
Value
Current values�J
Plus estimated values of proposed project
Less values of any property being replaced
Net estimated values upon completion.of project
SECTION• s AND OTHER BENEFITS ^• • SYTHE TAXPAYER
0 O
Estimated solid waste converted (pounds) Estimated hazardous waste converted (pounds)
Other benefits:
SECTION•
I hereby c rtify that the representations in this statement are true.
ignature of authorized representative
Tie j
Ba`taL
ign (month, day, year)
r
��. S C
* See iC 6-1.1-12.1-2.3.
We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the
general standards adopted in the resolution previously approved by this body. Said resolution, passed under IC 6-1.1-12.1-2.5, pro-
vides for the following limitations as authorized under IC 6-1.1-12.1-2.
A. The designated area has been limited to a period of time not to exceed calendar years* (see below). The date this
designation expires is
B . The type of deduction that is allowed in the designated area is limited to:
1. Installation of new manufacturing equipment; ❑ Yes ❑ No
2. Installation of new research and development equipment; ❑ Yes ❑ N o
3 _ Installation of new logistical distribution equipment. ❑ Yes ❑ No
4. Installation of new information technology equipment; ❑ Yes ❑ No
C.The amount of deduction applicable to new manufacturing equipment is limited to $ cost with an assessed
value of $
D .The amount of deduction applicable to new research and development equipment is limited to $ cost with
an assessed value of $
E.The amount of deduction applicable to new logistical distribution equipment is limited to $ cost with an
assessed value of $
F. The amount of deduction applicable to new information technology equipment is limited to $ cost with an
assessed value of $
G. Other limitations or conditions (specify)
N. The deduction for new manufacturing equipment and/or new research and development equipment and/or new logistical distribution
equipment and/or new information technology equipment installed and first claimed eligible for deduction after July 1, 2000 is allowed
for:
❑ 1 year ❑ 6 years ** For ERA's established prior to July 1, 2000 only a
❑ 2 years ❑ 7 years 5 or 10 year schedule may be deducted.
❑ 3 years ❑ 8 years
❑ 4 years ❑ 9 years
❑ 5 years * ❑ 10 years**
Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reason-
able and have determined that the totality of benefits is sufficient to justify the deduction described above.
Approved: (si ature and title of au�dzedmember)
Telephone number
Date signed (month, day, year)
e�z.«�•
3 7� 322
I aDo
Attested by:
Designated body
s
% -
' If the designating body limits the time period during which an area is an economic revitalization area, it does not limit the length of
time a taxpayer is entitled to receive a deduction to a number of years designated under IC 6-1.1-12.1-4.5
Form SB-lA
City of Richmond, Indiana
Taxpayer Wage & Benefit Information
Company Name, Address & Contact Person:
The information requested on this supplement to form SB-1 must be completed and submitted
along with your SB-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.
s
1. Average hourly wage for existing employees $
2. Average hourly wage for projected new positions $ U • 60
3. Average hourly health insurance benefit $ 2 ' D
1. The' Ion gth of the abatement you are requesting Y .
(A 1-10 year abatement maybe requestedfor real estate improvements and manufacturing equi ment.)
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 hourly rate computed using the annual cost per eligible employee divided by 2080 hours.
(Authorized
(Date)