HomeMy Public PortalAbout047-2003-abatement - PAUL W LINGLE,TRUSTEE - REAL ESTATEORDINANCE NO.47-2003
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 AND SPECIFICALLY 6-1.1-12.1-7 (UPTOWN AREA)
WHEREAS, Common Council has previously designated an Economic Development Target
Area for Uptown Richmond pursuant to Ordinance No. 7-2002; 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 redevelopment or
rehabilitation of real property in the Economic Development Target Area; and
WHEREAS, an owner of real property located in an Economic Development Target 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), which time period has been more further redefined by the provisions of
the above Ordinance depending upon the work to be performed; 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, is reasonable for projects of that nature.
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.
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.
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.
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 - 5 YEARS
Paul W. Lingle, Trustee
New Jobs: 4 Jobs Retained: 7
Estimated New Value: $125,000.00
Dated: June 13, 2003
l
Passed and adopted this � day of 2003 by the Common Council of the City
of Richmond, Indiana.
/Vic President
/ing Welch
t
A"ST: City Clerk
(No Schroeder)
PRESENTED to the Mayor of the City of Richmond, Indiana, this day of ,
2003 at 9:00 a.m.
City Clerk
(Nora Schroeder)
Atli
APPROVED by me, Shelley D. Miller, Mayor of the City of Richmond, Indiana, this L day
of 2003 at 9:05 a.m.
Mayor
(Shell . Miller)
A
City Clerk
Form SB-1B - Upta-wii Target Area
City of Richmond, Indiana
Taxpayer Wage & Benefit Information
Company Name, Address & Contact Person:
The information requested on this supplement to form SB-I. 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. The length of the abatement you are requesting
(A 1-1 D year abatement may be requested - Up to 5 years for ]"floor renovations and up to l0 years for
upperfloor renovation and/or exterior improvements).
2. Are the real estate iraiprovetnents new construction _ rehabilitation expansion
_ other (if other, please describe)
3. Will the improvements involve a first floor _Xyes _ no
4. Will the improvements involve upper floors or basements _ yes 2X/no
5. Will the improvements involve the exterior of the structure yes no
6. Attach a brief description of the type of real estate improvements including, but not limited to,
location, size (if expanding), cost estimates, drawings (if available) and scope of improvements.
The scope of improvements should include descriptions of the lst, 2"d, 3`a , etc. floor renovations,
exterior improvements and any other applicable information.
7. Average hourly wage for existing employees $ 5D,
8. Average Dourly wage for projected new positions $ t dO
9. Average hourly health insurance benefit $ q d 4
DEFINITIONS
1. Average hourly wage for existing employees: for your most recent pay period please provide the average base wage per
how 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.
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 igib7lp �Imployee divided by 2080 hours.
L.4�A o— i`l I/ 7 I111/2 %�/7� �
Signature and Title
STATEMENT OF BENEFITS
State Form 27167 (R614-00)
1 Form S13 - 1 Is prescribed by the State Board of Tax Commissioners, 1989
� 4
rate 1`
INSTRUCTIONS:
FORM
SB-1
I. This statement must be submitted to the body designating the economic revitilfzation 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 body 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 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 initiation of the redevelopment or rehabilitation,
or prior to Installation of the new manufacturing equipment and/ or research and development equipment, BEFORE a deduction may be approved.
3. To obtain a deduction, Form 322 ERA, Real Estate Improvements and /or Form 322 ERA /PPMEand /or 322 ERA /PPR & DE, must be filed with the county
auditor. With respect to real property, Form 322 ERA must be riled 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 / or 322 ERA PPR & DE must be filed between March 1 and May 15 of the
assessment year in which new manufacturing equipment and/or research and development equipment becomes assessable, unless a filing extension has
been obtained. A person who obtains a filing extension must file the fort between March i and June 14 of that year.
4. Property owners whose Statement of Senefits was approved after June 30, 1991 must submit Form CF - 1 annually to show compliance with the Statemen
ofPeneffis. (IC 6-1.1-12.1-5.6)
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,
• .• •
Name of taxpayer
Paul W. Lingle, Trustee
Address of taxpayer (street and number, city, state and ZIP code)
801 North "A" Street., Richmond, Indiana 47374
Name of contact person
Telephone number
,Tim Henley, Business Manager
t
(765)962-1489 3�3
"TSECTI•N-21', LOCATIORAND DESCRIPTION OF PROPOSED PROJECT
Name of designating body
Resolution number
Common Council of the City of Richmond Indiana
Location of property
County
Taxing district
651-659 South "A'."' & 108 South 7th;St.
Wayne
Richmond Wa ne Tw
Description of real property improvements and / or new manufacturing equipment and 1 or
research and development equipment (use additional sheets If necessary)
ESTIMATED
Start Date
Completion Date
Real Estate
6/30/03
10/1 /03,
33' X 48' office building addition
New Mfg Equipment
R&DE
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT
OF PROPOSED PROJECT
Current number Salaries Number retained Salaries
Number additional Salaries
7 7
4 $180,000
ESTIMATED.
+L COST AND VALUE OF PROPOSED•••
NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the
Real Estate Improvements
Machinery
Research and Development '.
Equipment
COST of the property Is confidential.
Cost
ASSIM ft a ue
Cost
Assessed Value
Cost
Assessed Value
Current values
Plus estimated values of proposed project
Less values of any property being replaced
------
Net estimated values upon completion of project
SECTION 5 WASTE CONVERTED ANO oirHER BENEFITS PROMISED BYT14E TAXPAYER
Estimated solid waste converted (pounds) Estimated hazardous waste converted (pounds)
Other benefits: '
•TAXPAYER•
I hereby certify that the representations in this statement are true.
Sign tore 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 belfilr# 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 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 b efits is sufficient to justify the deduction described above.
Approved: (signature a title fauthorlzed be
Telphone number
Date signed (month, day, year)
tested by' �
{
'gnated body
V1
* I the 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
Form SB-1, page 2 - Copyright 0 2003 DIS, Inc. ClientiLoc