HomeMy Public PortalAbout037-2004 - Tax Abatement - Cinram - Real Estate.pdf.w.exhAMENDED ORDINANCE NO. 37-2004
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:
REAL ESTATE - 10 YEARS
Elder Family, LLP
4251 West Industries Road; Richmond, IN 47374
New Jobs: 193
Jobs Retained: 472.
Estimated New Value: $ 3,255,000.00
Dated: May 6, 2004
Passed and adopted this % C day of 004 by the Common Council of the City
of Richmond, Indiana. 1117
esident
Par r)
ATTE 'ty Cleric
(Karen Chasteen)
PRESENTED to the Mayor of the City of Richmond, Indiana, this 9 day of
2004 at 9:00 a.m.
City Clerk
(Karen Chasteen)
PROVED by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this V day of
2004 at 9:05 a.m.
yor
Sarah L. Hutton
ATT City Clerk
(Karen Chasteen)
' UState Form 27167 (R6 /4-00)
Form SB -1 Is prescribed by the State Board of Tax Commissioners, 1gag
INSTRUCTIONS,
•+r1lYi
SB-y
RECEWED MAY 1 0
1. This statement must be submitted to the body designating the economic revitilization area prior to the public hearing if the designating body requires infor-
mation from the applicant in making Its decision about whether to designate an Economic Revitalization Area. Otherwise this statement must be submitted
to the designating bodyy BEFORE a person installs the new manufacturing equipment and / or research and development equipment, or BEFORE the
redevelopment or rehabilitation of real property 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 OFBENEMTS (iC 6-1.1-12.1)
2. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to Initiation of the redevelopment or rehabilitation,
orpnor to Installation of the new manufacturing equipment and/ or research and development equipment, BEFORE a deduction may be approved,
S. To obtain a deduction, Form 322 ERA, Real Estate Improvements and/orFomr 322,ERA/PPMEand/or322 ERA /PPR & DE, mustbe filed with the county
auditor. With respect to real property, Form 322 ERA must be filed by the later of. (1) May 10; or (2) thirty (30) days after a notice of Increase In real property
assessment Is received from the township assessor. Form 322 ERA /PPMEand lor 322 ERA PPR & DE must be filed between March 1 and May 15 of the
assessmentyear in which new manufacturing equipment and/ or research and development equipment becomes assessable, unless a tiling extension has
been obtained. A person who obtains a filing extension most Tile the form between March f and June 14 of thatyear.
4. Property owners whose Statement of Benefits was approved afferdane 30, 1991 must submit Form CF-I annually to show compliance with the Statemen,
of Benefits. OC 6-f.1-12. i-5.6)
S. The schedules established under 1C 6-1.1-12.1-�4(d) and 10 6-1.1-12.1-4.5 (e) effective July 1, 2000 apply to any statement of benefits riled on or after
July 1, 2000.
The schedules effective prior to July 1,. 2000 shall continue to appfy to those statement of benefits filed before July 7_ 9nnn
Name of tax or
Address of taxpayer (street and number, city, state and ZIP code)
/loop cA �. ` rytoK .z1�1 37 ty
Name of contact person
Ke![+' L. Set+Z-
Telephone number
(765)) 962--95"!l
Name of esignating ba
Cata�ntoK euxc" ose �?/el, /
Location of props Coun
Description of rea[ pproperty Improvements and / or new manufacturing equipment and l or
research and development equipment (use additional sheets ff necessary)
See # c{�ec�. Real EstateS
Resolution number
io - /": �r -199
Taxing district
ESTIMATED
Start Date
Gompletion ate
o�
tZ A3 t 01
ke%Z
.3
New Mfg Equipment
R &' DE
. A-
Current number Salaries Number retained Salaries Number additional Salaries
4?2 12�ZSg 2,70 4??- 1 ze ZS9f ?-7 1 1/1 401, �o
NOTE: Pursuant to IC 8-1.1-12.1-5.1 (d) (2) the
COST of the property Is confidential.
Current values
Real Estate Improvements
Machinery
Research and Development
Equipment
Cost
Assessed Value
Cost
Assessed Value
Cost
Assessed Value
Plus estimated values of proposed project
Z2.Sbo0
Less values of any property being replaced
Net estimated values upon com lation of prolect
Z
Estimated solid waste converted (pounds) Estimated Hazardous waste converted (pounds)
Other benefits:pipil _
•� , .
I hereby certify that the representations in this statement are true.
Signature Xauthorizgd rapt septa'
Title
Date signed (month, day, year)
Confirm l[er
't�� .. :.e- a -y'aw $�R�: a sv.-`:+ t.��l .�+..i.°_r .�.» . \w�.. �N, �... .'�i-'a- �:k.y�Hl L"'�."!2" v�.'' j-•." 1�'
' 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; p Yes O N o
3. Installation of new research and development equipment; ❑ Yes ❑ 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 $
is .The amount of deduction applicable to new manufacturing equipment is limited to $ cost with an assessed
value of $
B-The amount of deduction applicable to new research and development equipment is limited to $ cost with
an assessed value of $
F. Other Hmltatlons 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.
Appro ed: (signature d tltl f authorized m bar)
Telephone number
Date signed (month, day, year)
7-4 c/
Atteste
Designated body
If theAesignating body limits the time period during which an area is an economic revitilization 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 or4.5
Form SB-1A
City of Richmond, Indiana
Taxpayer Wage & Benefit Information
Company Name, Address & Contact Person: Ke I I; S6a
C,'v►ram, Tic M000 Vc� o 473 N
The information requested on this supplement to form SB-1 must be completed and submitted
along with your SB-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 $ /O. 8 7
2. Average hourly wage for projected new positions $ //. DD
3. Average hourly health insurance benefit $ 2•�5
1. ' The length of the abatement you are requesting 10 NO-ctr 15
(A 1-10 year abatement may be requested far 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
DEF UTIONS
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 awn 2°/a or more of the business, and their
family members.
2. Average hoprlywage 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 Gwent company paid health insurance
benefits provided to hourly employees (as defined above) and family members. Please present in the
formpf an hourly' ate corm using the annual cost per eligible employee divided by 2080 hours.
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