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Home My Public Portal About069-2007 - Tax Abatement - CDM Associates - real estate.pdf.w.eORDINANCE NO.69 -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: 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-I 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 C D M Associates, LLC Jobs Retained: 80 Jobs Created: 16 Estimated New Value: $3,000,000 Dated: September 19, 2007 Passed and adopted this day offtby the Common Council of the City of Richmond, Indiana. ,President (Dial Pap i ATTEST��ity Clerk (Karen Chasteen) PRESENTED to the Mayor of the City of Richmond, Indiana, this % day of 2007, at 9:00 a.m. L --7 , City Clerk (Karen Chasteen) APPROVED b�me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this day of2007, at 9:05 a.m. „/ ?�4' Mayor (Sarah L. Hutton) ATTE T: t Clerk (Karen Chasteen) 09/19/2007 10:26 7957418270 GLASS AND MORE LLC PAGE 02 SLap 19 07 10e31a 9radi Ware 765SS25015 p.2 STATEMENT OF BENEFITS REAL ESTATE IMPROVEMENT$ 10 ` State Form 51767 (R2 J 1-07} l FORM SB.i ! Real Praperty Prasorfhed by the ❑ep-irrmant o(Local Govorhrnont Flmsncc Thl9 statement h Wing complelad for real properly that qualifies under itre folloving lndfena Ndc (t trt�(t one box}; ❑ RadelrolopmaM ar rel,<lbifitatlon of rml cStala Improvementz (1C li-1.1.i2,1.4) Ellgtbto,RtrenlhuildirpOffP,1,1-12.E-y,$) RECEIVED SEP 1 9 2007 lNS77ittGTJ4N3: 7. nusSfdtemerumrkttbesubm thaNrebodycaslgrkiNngthe&»rtamkkevimr}xaRon,4reepnhriothepubuchasrfnglfihtsdadgrretlr+9�Yfta4r+?me krlbmratfan kqm the eppNaaat fn rn9Jdnp lis a1 ctuMn about whe(har fo dDslgrrere3 Brr Eeogomk R9vitelhhWo Arta. 0thCOW,00 INS BtafOOr M (Waf Dn subvn'tted lb th0 af951g17e1ing AOV BEFORE tw to*wfoprrrertJ or rehabifffallon ad reef Arnp9Yy for "fth me persop wines JD d$kh a "am. np'h@ tfi- Afarrn�OrCarm7llflaBMsulerJuiy 1. 758iand erAar dapfpA9fed aRel dk►y 1. rM tuff s a STATEMENT OF RSVERTS. 00 &1 1-t2.1) 2_ AppramSWORlofthettasfgnaNnghady (GIry aPpMed. it ro"H*urd,CounrycormcH•M-lpktstheobf21n9tlpdartant7iAffonofthereCeuglbprtrantorraJrsWlltalJOn BEF131,tE a deduction mep DC eppnh�d 3. Toobtamad9 n,pppffc.&fAbnforrq ]MAeT+,EprF*n322E-gq4fUD iy1ykh9verlsopplJpgbfQnxrstppllJ9(lSvRlrHrcC>xtuityAndffarbyffielamr O!' f n vn t e or (z! oftth (3d) mbfcfmyr after the rwtft0 Ol9dcCtlon t6 as9essed vafveflon Orn9w asaasnnenf rs malkd to me property owner at fbe oaU4N,s sli0+vtr an the re,cvrde of the tawrtehrA es,oasot: A ProperlyoMM Why Syqftmrof Eenarb was opPmo WewJimc 30, 1994. rift tatfach a Fortn 4tCR7AiodlPmpartyltntlu8ly to tlfe eJfpiJcntfon f4 gw campf(attpe rvtdi fhe stxfement o(s&rw1ifa. X &7, 7.r,2 f-s_t(n! ohdIC e-a_ 7-r2.i-5301 S. rho schkwfesestaulshedwww1cs-i,142.f-aft"MhohNrtatcdpr0FoftYM?durrdsrtc6•i.1-121-A9(f)farvacanttwll npapplytasnyat9f9menr orbartrtAf9 appfaue0 Otl or9Rer July 1, ZOdtz The sOW&Ies 0ff*tfht3 prior to ,&y r. 2nflt7� vhal corrtinua fo apply a SfaleMatItofbeneAts Tfod bOibM July 1. 2D00, Nome pt tsTsMr i AddropF oitaxpa ar (n mhe r and Aflame of comae[ pd n Name Of dew..Hm 6,a. and ZIP code) 11 i err rrru ber E-mall address . % I R-olutlan number dietrkl number Dr=frobun of—' property imp,gvernents, cvelopment, nr rehsbiGlukn � rove Cr; dMbnaj rhea(, tf � elk? Fw s 4 014 ; rYl Esllmatcd data (mantg ol7Y• y�1 EstlmStod dQMplothn dgla (month, day, yry)r, 0 OUR ilrrem number a �rnbe% .rI %— SelArkc _ • + Numberin}�tional s�t�� NOTE_ Purfoont to 1C &1.1-17.1-5.1 (d) (2) tht: COMO,r property is confidennal. Conant vwu. Plus etitirnated vareos—or proposed proje,rr CSa yaluss of eny properly belag replaced 'k eallrnplg Vehrec tlpon camptplion of project Eetlmatcd aaltd wade camcdod (pourp,J Other benatffs_ Farr,r 8f31 / kra,l p, ,,,y, "".I-CopnSnhto?n07 OiB, wr, REAL ESTATE IMPRmEMEWS COST + ASUSSIRO VALUE Estinmted hasanioue vrr M convoftsd (pourrdg) late signed (month, d,)! year! 0 e "7 FOR USE OF THE DESIGNATING BODY 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, provides for the following limitations: 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. Redevelopment or rehabilitation of real estate improvements; ❑ Yes ❑ No 2. Residentially distressed areas ❑ Yes ❑ No 3. Occupancy of a vacant building ❑ Yes ❑ No C. The amount of deduction applicable is limited to $ D. Other limitations or conditions (specify) E. The deduction is allowed for years' (see below). We have also reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have determined that the totality of benefits is sufficient to justify the deduction described above. Approved gnature and title ofautho , member of designating body) Telphone number Date signed (month, day, year) X,2,y-,� gF-9 - 7 -2 Atte ted by gnature an ' e ofatte r) Designated body ' 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 6-1.1-12.14. A. For residentially distressed areas, the deduction period may not exceed five (5) years. B. For redevelopment and rehabilitation or real estate improvements: 1. If the Economic Revitalization Area was designated prior to July 1, 2000, the deduction period is limited to three (3), six (6), or ten (10) years. 2. If the Economic Revitalization Area was designated after June 20, 2000, the deduction period may not exceed ten (10) years. C. For vacant buildings, the deduction period may not exceed two (2) years. Form SB-1IRE, page 2 - Copyright 0 2007 DIS, Inc. 09/19/2007 10:26 7657418270 GLASS AND MORE LLC PACE 03 Sep IS 07 10:31a Brads Ware 7659625015 P,3 Farm SB-1A City of Richmond, Indiana TaXpayer Wage & i3enefit lnfarmation Company Name, Address & Contact Person: A -*- M So t1 i T e S , L The Information requested on this supplement to form S13-1 must be completed and submitted along with your 50-1 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 ampiayees f 2. Average hourly wage for projected new positions 3. Average hourly health Insurance benefit 7 1. The length of the abatement you are requesting (A f-10 year abatement may be requested ror real estate improvements and manuracturing 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 Infnrrnation frorn the lease that explains which party is responsible for paying the property taxes 3. if matting real estate improvements, please provide a list that includes the following, + brief description of the coal estate improvement (new construction, rehab, expansion, etc.) ■ Size of the proposed roai estate improvements costs of the proposed real estate improvements, DEFiNITIONS n 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, following groups; non -supervisory employees. Do not include the A. part time employees; �. management, supervisors, foremen, or any other supervisory personnel, C. owners, stockholders, or partners if they own 2% ar more of the business, and their family members, Average hourly wage for projected new positions: Use the some definition of employees to be included as in nurnberone above, 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 prent in the farm of an hourly rate computed uslna the annnnt rnct nmr ar. ,.c . , ..._�_---- __ -se . (Date) CDM and proximity to existing ERA SCALE 1 :8,030 500 0 500 1,000 1,500 FEET