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Home My Public Portal About022-2004 - Tax Abatement - Holland Colors Americas - Equip.pdf.ORDINANCE NO.22-2004 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 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, 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 Holland Colors Americas, Inc.. New Jobs: 5 Jobs Retained: 78 Estimated New Value: $935,000.00 Dated: March 18, 2004 Passed and adopted this A day of 2004 by the Common Council of the City of Richmond, Indiana. loy :: pa, ent a Par er) AI`TE ity Clerk (Karen Chasteen) PRESENTED to the Mayor of the City of Richmond, Indiana, this day of , 2004 at 9:00 a.m, U City Clerk (Karen Chasteen) 4Z!VED by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this,3d day of , 2004 at 9:05 a.m. ATTEST: erk (Karen Chasteen) STATEMENT OF BENEFITS CORM StWo FUM 27167 (R711241) pre6Wj3ed'by the Depattment of Local Government Flnanim SB fNS7rtUCTtONs: 1. Tnastef meetrains[baeubmtltedtu# bodydoalgrraJ7fr�theaca+amlcre rAtiw�arrvxprfordather�wb9cheadn9fiNtsa�ee►Qna d�dY SLrfbr "Moan hom the aPPffcarrt In nml ft Ra declslon about whoVw to date err Ewr4m k;-Retrltafla *a Anr'e. 4themisa lhts stetarmerit must be Subrmsmel . to the doslgn8tlmg b9d;r J3EWRE a persam Jmst�s the AeVrmJ°� Mkt atxi/arl9!<earCf# •turd daV�Flrlent QlltflpRl9id, � � thA , � radevaraprtrentanuaQbmtatronorraalpraPe►rerwrrrcnt»eperxonwrahesdodahnadeduc w-'iF,AVaWponmdur.a.wumaedtvfavand a eas dua"uW j* f,1887 re4 a 5TA7FM�fr OF=B NFFFCfS (lC 6 i.f-�2i) 2 Xfy(C)tyCawxF, Tom Swrd,CGWIYCounc4. Oft) muatbevbbkiaedPdvriaHlfMmOfftMdavpp1aprrA&1ymhandltaff&4 arPutwJn fms�latiom of Ure rrewrnarulacl�lmg ggrrfpvn t arrdlor.mmF. Bt:FE)ti+Ea daductiar maybe rPPro d 79 ebtaim $ deducmak Fmm -w B.4 Real Estate 1nWmvarnenls and /or Form 322 ERA/PPJWE amdf w m ERA fPPA & = mustbe 7ded xdth the aeu* sudnvr. %jib respect to matJ7 gowly. Form = ERA must ba Had by the lateral(i) Afay 10: c rM Mufy (3Q) altar n ttotic9 of hlan to b malproparty assassmemt la mpgvpd kart[ the tows* allMor, Fom+= tgt 1 PPArE amdlmr 222 IR4 PPR & DErruwst be fled betwasm March 1 and [day 1s cf vm .vuesama„tyear In which new mamufauurlmg a9irfpmemt andl orresearrh sand davefaymemt equlprrrarrt becomes assessabfa, u*w a 1Wn9 axhBmkn has been aWW. A pan= why vbtalms a 1Ur9•extresl w mast MD Ure form bOtwsem March f and tha ertamwad due deft n! that yew' 4 Pmpar owners w4lpttB $faternarrt of 89nBR!? was aPPrpved artarJsme 90, it�i must sudmih bores CF i amnuall)e to srrgnr aampRerrw rrlfpl the Stetsrmant ofeerulfla {lCfi-l.f-i2.l-�8J s 7hs eGredufea osi+bllslted umdarlC &f.1-12i-4(tij and tG A.i. f-12i.Q5{ej atfw rra July 1, 204d ** fu any gA*wrrerrt of banes Ned ar 9r after Ja1ly f, 20QA 771a gautdula9 all6Nur prbr .l+r� 1. 2 shag aontfmue to srl Y to those sbr�memt ofbanmOts tAed berate July l,° 200Q Nero of bLvgw ROLLA= COLORS AMERICAS, INC. Addr+rrss of rxpslrw (street and murntm. a4r. slift XP Gode) 1501 PROGRESS DRIVE RXCRMQND iN 47374 Names of owad person s T r+;: (760 935-0329 mum of dmlgneUnp �1r Resabrtlmrl nwr�r COMMON COUNCIL OF THE CITY OP RICMWND, IN 30-I984, ,11-199 Lamoon ai ptnperhr Cour+ty iaxlrg di�rirt . 1501 PROGRESS DRIVE RICfe'MOND IN 47374 WAY1f9 RICHMOND CORD Lrescriptlom of real property trnprouemamts trM l 9r maw rnomufacEutrrg �Pvr� and! or `'E517MAi'� ` . . vwwrch and davaloPinemt equlPw0nt loss eddAlonaetmhNfs lfnecasssuy) 5>grt E> a' covowlem Reto see attached Ped Eelsts I+lew t41f9 Exlufpmtant . 05/ 01/2004 12 /31/2 005 R8ClE curr,trwntber Saiedas Numrberrnlakred Sefar+9e Mumdrerad9tdOmel 5 120,000 78 1 2,700,000 78. 2,700.000 ltesaarci.lar,d oavaly KCi7E:Puesrserd t4 iC, 91.7-121-8.7 (d) (2} the Real Eafats 1Mpsgvasnemis . tYlsellhesry EgWpmftt COST of property is comlldunusl. Cost Assessed Value Coat AssoomA Velma Cost Aumsed V ue O xM.0 vale 4, 723, 919 1. 4a, 238 Pko values of PMPO.Ad prc)ed 935 OGo • ZA.. GQo , '.. Less yraluas Of my property barn reptucad Nelo�te. trpmlr�xpls4lwt�Pr� s,ti5s,sis �..5�.S.a38 mmHg Esttan M waste wm mded {pound stGal . Et;wd tmrdouGwas>te converted fpoumdal Tee I [fats ATTACHMENT TO FORM SB-1, page 1, Section 2 Name of taxpayer HOLLAND COLORS AMERICAS, INC- Attachment to Farm SB-1, page 1, Section 2 • Copyright 0 2004 DIS, Inc. Client/Loc HOLLAND 04RE/PPT We have reviewed our prior actions relating to the designation of this eoonornic 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; p Yes p No 2. Installation of new manufacturing equipment: p Yes p No 3. Installation of new research and development equipment; p Yes p No 4. Residentially distressed areas p Yes p No C. The amount of deduction appicable for redevelopment or rehabilitation is limited to $ cost with an assessed value of $ D. The amount of deduction appicable to new manufacturing equipment is limited to $ cost with an assessed value of $ E. The amount of deduction appicable to new reasearch and development equipment is limited to $ cost with an assessed value of $ F. other limitations or conditions (specify) Also we have reviewed th mbined in the statement of benefits and find that the estimates and expectations are reason- able and have determine at t e totality of ben is sufficient to justify the deduction described above. ed: (signature and ' e of a ri member) Tel/phone number Date signed (month, day, year) c,� S 7 3.;z `1 fed b . Designated body M1 ' If the designating body limits the time period during which an area is an economic revitiization area, it does not limit the length of time a taxpayer is entit;ed to receive a deduction to a number of years designated under IC 6-1.1-12.1-4 or 4.5 Form 513-1, page 2 - Copyright 0 2004 DIS, Inc. Clien&oc Form SB-1A City of Richmond, Indiana Taxpayer Wage & Benefit Information Company Name and Address: Holland Colors Americas, Inc. 1501 Progress Drive Richmond, IN 47374 The information requested on this supplement to form SB-1 must be completed and submitted along with your SB-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 S 16.64 2. Average hourly wage for projected new positions S 11.54 3. Average hourly health insurance benefit S 3.85 The length of the abatement you are requesting 10 Years (A 140 year abatement may be requested for real estate improvements and manufacturing equipment.) If purchasing equipment, please state the projected useful life. If purchasing equipment, please state whether the equipment is new or used. If purchasing used equipment, list the state in which it is being brought into Indiana from. 20 Years New N/A 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 27o 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. c2 ISG / 0 (Authorized Signature and Title) (Date)