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Home My Public Portal About104-2004 - Tax Abatement - PTC Alliance - Equipment.pdf.w.exh.pAMENDED ORDINANCE NO. 104-2004 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 Iocated 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. NOW, THEREFORE, be it ordained by the Common Council of the City of Richmond, Indiana, that the following property owner meets the requirements for property tax assessed valuation deductions, including the above findings, as follows: EQUIPMENT - 10 YEARS PTC Alliance New Jobs: 10 Jobs Retained: 71 Estimated New Value: $1,654,500.00 Dated: November 18, 2004 Passed and adopted this �-76 day of 2004 by the Common Council of the City of Richmond, Indiana. resident ( ker) ATT T• ity Clerk (Karen Chasteen) PRESENTED to the Mayor of the City of Richmond, Indiana, this U day of 1 2004 at 9:00 a.m. ity Clerk (Karen Chasteen) ROVED y me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this day of 2004 at 9:05 a.m. 414, Mayor Sarah . Hutton ATT.- i Clerk (Karen Chasteen) STATEMENT OF BENEFITS PERSONAL PROPERTY a� State Form 51764 (5-04) Prescribed by the Department of Local Government Finance FORM SB-11PP INSTRUCTIONS: j�e�� Ll�+�-+�Q►'�eNL �� 1. This statement must be submitted to the body designatin he 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 andlor logistical distribution equipment and/or information technology equipment, BEFORE a deduction may be approved 3. To obtain a deduction, Form 322 ERA/PPME andlor Form 322 ERA/PP Other, must be filed with the county auditor. Form 322 ERA/PPME and/or 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 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. (iC6-1.1-12.1-5.6) 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. SECTIONa• • Na of tax er ILUANee- firemaush, Address of taxpayer (street and number, city, state and ZIP code) I4SO N.1). I I -�—k S-tree-t ctzaL. ?q Name of contact per on eve ; to o CC.) II It Telephone umber 7 q a9 5 SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of designating body n jL1, Resolution number O O Location of property County A e T ing district ` 1►,ma� d. � � Description of manufacturing equipment andlor research and de lopment equipment andlor logistical distribution equipment andlor information technology equipment (use additional sheets if necessary) ESTIMATED Start Date Completion Date P Manufacturing Equipment 1 Se R & D Equipment Log ist Dist Equipment* IT Equipment SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT er Salaries Number retained Salaries Number additional Salaries Current nuSECTION l o 000 � 80o coo 1 a 50 000 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 * IT Equipment Cost Assessed Value Cost Assessed Value Cost Assessed Value Cost Assessed Value Current values gmccu tupw Plus estimated values of proposed project j Less values of any property being replaced Net estimated values upon completion of project SECTION • AND OTHER •• BY THE TAXPAYER Estimated solid waste converted (pounds) Estimated hazardous waste converted (pounds) Other benefits: SECTION• I he c that the representations in this statement are true. Signature of auth r' representat'v Title Date signe (mount y ar) day, * See IC 6-1 1-12.1-2.3. /r % 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 ❑ No 3. Installation of new logistical distribution equipment. ❑ Yes ❑ No 4. Installation of new information technology equipment; ❑ Yes ❑ N o 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) 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 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 ormation co ined in the statement of benefits and find that the estimates and expectations are reason- able and have deter th t the totality of b nefits is sufficient to justify the deduction described above. Approve : (signature a title uthorized member) Telephone number Date signed (month, day, year) Attested b : Designated body y cJ� " 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 S13-1 A City of Richmond, Indiana Taxpayer Wage & Benefit Information Company Name and Address: �iC A 11,aNce� typo N, �. 31 S The information requested on this supplement to form S13-1 must be completed and submitted along with your S13-1 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 $ �a . 2. Average hourly wage for projected new positions $ 3. Average hourly health insurance benefit $ • oo 1. The length of the abatement you are requesting (A 9-10 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 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 2. 3. 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. Average hourly wage for projected new positions: Use the same definition of employees to be included as in number one 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 present in the form of an hourly rate computed using the annual cost per eligible employegoivided by 2080 hours. Signature and Title) //' // //D 10 Year Abatement requested PTC Alliance 1480 N. W. 1 lth Street Richmond, IN 47374 Attachment to SB-1/PP Description of manufacturing equipment We request a 10 year abatement relative to the following equipment acquisitions: Description Useful life Purchased from Haven Cutoff Machine 20 yrs Out of State Axle Forming Machine Tooling, gauges, communication boards 100 Ton Magnum Press ATAM Addnt Detection Equipment 75 HP Air Compressor Tooling for Delphi Part 20 yrs 20 yrs 20 yrs 20 yrs 10 yrs 10 yrs Out of State Indiana Out of State Out of State Out of State Indiana Cost $450,000 $705,000 $225,500 $150,000 $35,000 $31,000 $58,000