The URL can be used to link to this page

Home My Public Portal About020-2003-Abatement - RICHMOND BAKING COMPANY - NEW MANUFACTURINORDINANCE NO.20-2003 A SPECIAL ORDINANCE AUTHORIZING THE APPROVAL OF A STATEMENT OF BENEFITS FOR A PROPERTY OWNER APPLYING FOR DEDUCTIONS UNDER I.C. 6-11-12.1 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 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: I . 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: NEW MANUFACTURING EQUIPMENT - 10 YEARS Richmond Baking Company New Jobs: 3 Jobs Retained: 120 Estimated New Value: $450,000.00 Dated: March 21, 2003 6r Passed and adopted this :�l day of 4 2003 by the Common Council of the City of Richmond, Indiana. President (Bi Welch) LLA ES , City Clerk (Norr Schroeder) PRESENTED to the Mayor of the City of Richmond, Indiana, this day of } 2003 at 9:00 a.m.t�-c SL��, 5 City Clerk .- (No?ma Schroeder) P tOVEDkme, Shelley D. Miller, Mayor of the City of Richmond, Indiana, this C day o , 2003 at 9:05 a.m. (She D. Miller) n :ity Clerk F++r [SOB- RM STATEMENT OF BENEFITS FORM 1 State Form 27167 (R7112-01) RECEIVED Prescribed by the Department of Local Government Finance 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 infor- matics 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 1 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 Jury-i,1,987-require a STATEMENT OF BENEFITS. (IC 5-1.1-12.1) 2. Approval of the designating body (City Council, Town Board, County Council, etc-) musfb"e" obtained pnor. o initia€iorr�fYhe redevelopment or rehabilitation,- or prior to installation of the new manufacturing equipment and 1 or research and development equipment B FORE a deduction maybe approved_ 3. To obtain a deduction, Form 322 ERA, Real Estate Improvements and I or Form 322 ERA I PPME and I or 322 ERA I PPR & DE, must be 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 PPME and 1 or 322 ERA PPR & DE must be filed between March 1 and May 15 of the assessment year in which new manufacturing equipment and I or research and development 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 CP - f annually to show compliance with the Statement ofBenefrts. (IC 6 1.1-12.6) 5. The schedules established under IC 6-1.1-12.1-4(d) and IC 6-1.1-12.1-4.5 (0) 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 t 2000. Name of taxpayer Address of taxpayer (street and number, city, state and ZIP code) P. 0. Box 698, Name of contact person Name of designating body 520 North 6th Street, Richmond, IN 47375 common Council___Cit7 of R Location of property I ` Same L Description of real property improvements and I or new manufacturing equipment and I or research and development equipment (use additional sheets if necessary) Cost and installation of bulk storage system for corn sugar and liquid short- ening and related.baking and production equipment~': _. - -.-- - 65) 962-8535 Resolution number hm o n d _ _ ------ -_-- Taxing district 14aype Richmond ESTIMATED Start Date ! Completion Date i Real Estate i New Mfg Equipment ` oln� i 12/03 R&DE Current number Salaries Number retained Salaries iNumberr additional 120 4,787,718 --120 4,787,718 NOTE: Pursuant to tC 6-1.1-12.1-5.1 (d) (2)'he COST of the property is confidential. Current values Plus estimated values of proposed projec Less values of any property being replace Net estimated values upon completion of Estimated solid waste converted (pounds) Other benefits: Deal E,s`.at, Improve r+onts Cost Assessed Val Cost Machinery Estimated hazardous waste converted (pounds) Cost 90,000 Equipment will enable us to remain competitve within the industry and attract new business while re�aiiiizi-eise�g—business-for�u -- current workforce. Sim I hereby certify that the representations in this statement are true. Signature of authorized representative Title Date signed (month, day, year) 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 Y �_— --- --- B. The type of deduction that -is -allowed in -the -designated area -is -limited to:------- 1 . Redevelopment or rehabilitation of real estate improvements; C Yes ❑ No 2. installation of new manufacturing equipment; ❑ Yes El No 3. installation of new research and development equipment; C1 Yes ❑ No 4. Residentially distressed areas ❑ Yes ❑ No C .The amount of deduction applicable for redevelopment or rehabilitation is [invited 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 $ F. 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. Approved: (signature and title authorized membe !Telephone number Date igned (month, day, year) I De I ated body V\,L. " If t e designating 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 or 4.5 MAR-21-03 14=51 FROM:CITY OF RICHMOND FINANCE ID=1 765 963 7212 PAGE 6/6 Form SB-1A City of Richmond, Indiana Taxpayer Wage & Benefit Information Ca pmy Name, Ad&a w & Comtat Pe=OU: The infomadolr requested on this supplement to form SB-1 must be completed and submitted. along with Four SB-1 in order for your tax abatemmA request to be considered by Richmond CD mxaoa Coancn. please retaiay= records and odculations; used to arrive at the mformation requested on this form, it is %6ject to review as a part of our monitoring process. �f 1. Average hourly wage for exi,=9 employees / 2. Average hourly wage for projected new positions 3. A.vemge hourlyhealth ;�!�nce benefit $ 1. The length: of the abatement you are raques �y (A I -10 year abatement rainy be requested for real estate i* rovements and mcuacfacturrng Nuz:pment) 2. If pu=jmmg equipment, please attach a list that mcludcs the following: • . brief' description of each piece of ecluiprrent being purchased • the projected usefal life of each piece of eq*nient , • the oft(s) in which the-equd rent is being bz� into Indiana from if phasing used equipment the cost of each piece of equipment 3_ If Wddftgreal estate improveme=, please pmvide a list that includes the follavvinV • brief desmiption of the real estate improvement (new construction, rehab, expansion, etc-) a Size of the proposed real estate imprDV=Cuts o costs of tTle proposed real estaw imprav==ts - DEMUMHS 1. 'Average hourly -wage for wdsting employees: for yotrt roost ze = pay period please provide the average base wage per boor for all curreffi fa1t1 time, nan.-St mTisory ea*yem l% not include the following ems: " part. time=p-10yeeq B. mamag=eat, sq vism% for=ea, or any other supm iwry persnane% C. owners, stociffi.ow ss, or pmtneas 1f111ey awn 2% or more ofthe business, and their �y ffien1b.�s. . 2. Average hourly W4ge for projected new positions: Use the sme defnEon of employees to be included as xa number one above. health ins anc�e 3. Av=gc hourly health fa=w ce benetitr Please provide the cu== company P� bene5t provided to homiy employees (as defined above) aud fay member. Please present in the - -- __---form of au iu�ur�y rate comPured ILA the aura l cosh per eligible employee, divided by 2080 hogs. -07/-Q2 (Authorized Signature and Title)