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Home My Public Portal About075-2005 - Tax Abatement - Osborn - Equipment.pdf.w.exhORDINANCE NO. 75-2005 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. 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. 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 Osborn International Jobs Retained: 74 Jobs Created: I 1 Estimated New Value: $2,400,000 Dated: October 26, 2005 Passed and adopted this ,,� day of 005 by the Common Council of the City of Richmond, Indiana. 3�2� , President (Bruce Wissel) ATT ity Clerk {Karen Chasteen) PRESENTED to the Mayor of the City of Richmond, Indiana, this e?,&_ day of 2005 at 9:00 a.m. City Clerk {Karen Chasteen) APPROVED by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this .2 )L day of 2005 at 9:05 a.m. 44� 4a or y Sarah L. Hutton ATTES . (Karen Chasteen) ,z-400. 26. 2005 4:22PM'.. •-,:�,OS80RN_INT'L NO. 231 +$*fATF.MENT OF RENEWS r FORM - PERSOM PROPERTY 58 -1 / PP ,. 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A perserr who "km o ft oxlwmi n must f➢a UM Ibrm betttbea Mooch 1 Aid Me wdonrbrt due dale dihal yaer. Q PWWOIelkrS WMM Sft&ffHW9Dfa4Mftw98eppwvadRSVJWMW1997MMSL&41AarmCF4annWdytosherrCM20hUMBw0ftswbMot C(9on4 U PC V.i,1.12.1-1e) U. The admOA to aatabXdW rnift 19 061.1.12.1-4fd) and tG d-t_f.t2IwL5(e) etfecdw Jtdy 1, 20W t m mysEaMAW ofbarretfta ftd an or z/W JuiY 1, 2M The;dmdvkx afTadfvephylaJW t, 20fl0 bhaaban6wA to GA*ho those statement ofbermsM dbe(ae Joy 11 2wQ. home al bxpayar Osborn International 10 year abatement requested Address cf ►vRtyer (e4 aet #rrd number, riy, elate. ZP cadet 5401 Hamilton Avenue Cleveland OR 44114 Aland ctettaot WSW Rick Hum ardner Telopndnl numbel 216-361-1900 Nana sN deslgr+pfMB bodl+ Richmond Common Council RaeaYWon number Lacabn of pto ft 2350 Salisbury Road Richmond IN 47374 f aunty Wayne Taxing dalilal Richmond— Center Dwarip m or etenel.eturevequ0nerd an 9m rasauch and developmenl 9WAV nt andlor IogisSr�l dfatdbtrtion equipgMnt antsla inlbmratlon tedewkmw egtrlpmem Mw addMrW Awb irMKasaerra See Attached 10 year abdLernent requested EgiThra. M Stem late cumprodan awe Ivtarmra=ffNEqWpmwd 11/01/2005 12/31/2006 R 6 f7 Ege►pmant LDOW Lass r; woylwx R Equipment CurMlnurrim Selerkm NudberrotWod Satiries NwbereddltbrW 30(as 74 11500,000 74 1,500,000 11 250,000 NDT Prrrauertt fa sC trt.l�ls. i� t (rl1 i� she ! COST of the property hi cvn1d A iON. can Vacua R A 0 Equl"M LoalattHst pourpmaet - ff Equlpnu't Cast Coo v e callYelue ctuantvakres e,509.000 Fia eadmared Yaluw Ur propowd projou 2,400,000 Loss Yom d any Moxty being raplaoed Net MftlYs vdluaa upon MPPW On of Wgk,ct e, 90o, 000 l3Mutad eplld waste mwaled tptnnrds) 011iet bmd ts: Est mated tx®rdmm wasts mnvvroad 6x%u ft1 I hateb cerffy that the mmianta&min fds statement are true. 8lgrsawr a Tim Data *red (mmdL day, r-o • S" r. G-13.12.1,2.3. Form 00.1rPP. Pap 4 -CW dgM 0 200501S. ft. CUKd&x 9144 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 . Redevelopment or rehabilitation of real estate improvements; ❑ Yes ❑ No 2. Installation of new manufacturing equipment; ❑ Yes ❑ No 3. Installation of new research and development equipment; ❑ Yes 0 N o 4. Residentially distressed areas ❑ Yes []No C . The amount of deduction applicable for redevelopment or rehabilitation is limited to $ cost with an assessed value of $ D. The amount of deduction applicable to new manufacturing equipment is limited to $ cost with an assessed value of $ E. The amount of deduction applicable to new research and development equipment is limited to $ cost with an assessed value of $ E. Other limitations or conditions (specify) 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. Appr : (signature a d title of authorized member) Telephone number Date signed (month, day, year) r (%s) 9%3-7d`� 3 �r a OS Attested b . 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 6-1.1-12.1-4 or 4.5 .00T. 26' 2005'�� 4:23PM'"r14'OSBORN INT L 'NO. 2311 P. 3 r i✓' a �y♦ {{y Y�, ... �Vrrl'�`rJ�:l�r'�.i .4' !y .� ' Form SB4A CHy of Richmond, Indiana Taxpayer Wage & Benelfit Information Company Name and Address: Osborn International, (A division of Jason Gmh Group) 5401 Hamilton Avenue Cleveland, OH 44114 The information requested on this supplement to form SE-1 must be completed and submitted along with your SBA in order for your W abatement request to be eonsiderud 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 00 2. Average hourly wage for projected new positions $ _ Ita 3. Average hourly health insurance benefit 2.75 1. The length of the abatement you are requesting (A 4-70 year abatementmay be,equesW for read 9sfufe #WMVeII 8r& and tr=u&durft 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 states) in which the equipment is being brought into Indiana from if purchasing used equipment +� the cost of each piece of equipment 3- ti snaking real estate improvements, please provide a list that includes the following: • brief description of the real estate improvement (new oonstruction, 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; S. management, supervisors, foremen, or any other supervisory personnel; C. owners, stockholder$, or partners if they own 2% or more of the business, and their family members. 2. Average hourly wage for projed new positions: Use the same definition or employees to be included as in number one above. 3. Average Dourly health insurance benefit: Please provide the current oomparry paid health insurance- benefits provided to hourly employees (as defined above) and family members. 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