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Home My Public Portal About049-2006 - Tax Abatement - Envirotech Extrusion - EquipmentAMENDED ORDINANCE NO.49 -2006 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-1. 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 Envirotech Extrusion Inc. Jobs Retained: 41 Jobs Created: 16 Estimated New Value: $944,941.12 Dated: June 23, 2006 Passed and adopted this 21_ day of 2006, by the Common Council of the City of Richmond, Indiana. President (Karl Sharp) ATTES lerk (Karen Chasteen) RESENTED to the Mayor of the City of Richmond, Indiana, this L2� day of 2006, at 9:00 a.m. i�lerk (Karen Chasteen) APPROVED byWe, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this day of 06, at 9:05 a.m. ,, ,Mayor Sarah L. Hutton) ATTES ( aren Chasteen) STATEMENT OF BENEFITS PERSONAL PROPERTY <y ? Slate Form 51764 (544) _ter "'• Prescribed by the Department of Local Gavemment Finance A TEN YEAR ABATEMENT ECEIVE'D JUN Z 3 200 IS BEING REQUESTED, FORM SB-11PP INSTRUCTIONS: 1. This statement must be submitted to the body 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, and/or 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 6-1.1-12. 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 3. To obtain a deduction, Form 322 ERAIPPME and/or Form 322 ERA/PP Other, must be filed with the county auditor. Form 322 ERA/PPME andlor Farm 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 andlor 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 1 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-1 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 5-1.1-12.1-4.5(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•• r Name of taxpayer Envirotech Extrusion InQ Address of taxpayer (street amid number, city", state and ZIP code) " 4810 Woodside. -Drive Richmond Indiana 47374 Name of contact person Telephone number Jack Beilfuss65966n8068 SECTION 2 LOCATION AND DESCRIPTION OF. PROPOSED PROJ ECT - i Name of designatinq body Resolution number Location of property County Taxing district Description of manufacturing equipment andlor research and development equipment ESTIMATED andlor logistical distribution equipment andlor information technology equipment ' (use additional sheets if necessary) Start Gate Completion Date Manufacturing Equipment 121-10104 ` Extrusion12/1140-6— _Line 6 R& D Equipment Extrusion Line 2 LogistDist Equipment * Compounding Line IT Equipment SECTIONOF • . SALARIES AS RESUI-T.OFPROPOSEDPROJECT Current number Salaries I Number retained Salaries Number additional Salaries 41 1 384 199.00 41 1 384 199.0 1.6;..:�S417-45.6-00. SECTION 4: ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT NOTE: Pursuant to IC 6-1.1-12.1-5.1 d } 2 } the COST of the property is confidential Manufacturing Equipment R & D Equipment Logist Dist Equipment * rr Equipment Cost Assessed Value Cost Assessed Value Cost Assessed Cost Value Assessed Value Current values Plus estimated values of proposed project Less values of any property being replaced Net=estimated values upon completion of project -SECTIONS:: WASTE CONVERTED AND OTHER 13ENF-FITS PROMISED BY THE TAXPAYER Ea. aied`soliid waste converted (pounds) - 'Estimated hazardous waste converted (pounds) Dther benefits: NONE SECTIONS TAXPAYER CERTIFICATION i hereby certify that the representations in this statement are true. Signature f authorized represent tiv Title f'itryrrr�ay% Date signed (month, day, year) � .�3�0,6 See 6-1.1- .{-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, provides for the follovring 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 is B. The type of deduction that is allowed in the designated area is limited to: 1. Installation of new manufacturing equipment; 2. Installation of new research and development equipment; 3. Installation of new logistical distribution equipment, 4. Installation of new information technology equipment; C. The amount of deduction applicable to new manufacturing equipment Is limited to $ calendar years * (see below).`fhe date this designation expires ❑ Yes ❑ No ❑ Yes ❑ No ❑ Yes ❑ No ❑ Yes ❑ No 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) H. 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 ERAS established prior to July 1, 2000 only a 5 or 10 year schedule may be deducted. ❑ 2 years ❑ 7 years ❑ 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 reasonable and have determined that the totality of benefits is sufficient to justify the deduction described above. Approved=andtitlrizedmember) Telphone number Elate signed ( nth, day, year) 3-�a3� �'�' o� Attested by: Designated b N * 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-11PP, page 2 - Copyright CP 2006 DIS, Inc. Client7Loc Form SB-1A City of Richmond, Indiana Taxpayer Wage & Benefit Information Company Name, Address & Contact Person: The information requested on this supplement to form S13-1 must be completed and submitted along with your Sl3-I 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 2. Average hourly wage for projected new positions $ 11_n3 3. Average hourly health insurance benefit $ 2.12 1. The length of the abatement you are requesting (4 I-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 o 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, ete.) • 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. (thorize Signature and Title) (Date)