HomeMy Public PortalAbout069-2003-abatement - CONTRACT INDUSTRIAL TOOLING - EQUIPMENT.pdORDINANCE NO.69-2003
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
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
Contract Industrial Tooling, Inc.
New Jobs: 20
Jobs Retained: $2
Estimated New Value: $ 400,000.00
Dated: August 12, 2003
Passed and adopted this day o L2003 by the Common Council of the City
of Richmond, Indiana.'
President
ing W ch
A ES City Clerk
Norma chroeder
PRESENTED to the Mayor of the City of Richmond, Indiana, this l�day o
2003 at 9:00 a.m.
q &,,z 'L' 0, City Clerk
Norma Schroeder
UROV D by me, Shelley D. Miller, Mayor of the City of Richmond, Indiana, this day
of , 2003 at 9:05 a.m.
ayor
Shelle D. iller
City Clerk
No Schroeder
STATEMENT OF BENEFITS
3 State Form 27167 (R7112-01)
*y l Prescribed by the Department of Local Government Finance
RECEIVED
AUS 13 2003
FORM
SB-1
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-
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, orBEFORE 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, 1967 require a STATEMENT OF BENEFITS. (1C 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,BEFOREa deduction may be approved.
3. To obtain a deduction, From 322 ERA, Real Estate Improvements and/ or Form 322 ERA /PPME and /or 322 ERA / 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 / or 322 ERA PPR & DE must be filed between March land 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 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 CF - 1 annually to show compliance with the Statement
of Benefits. (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.
, ..i. ,r,,,— err .,q— .;-v i- r„h, i 90nn Shalt enntln„a M annly to those statement of benefits filed before July 1. 2000.
SECTIONTAXPAYER INFORMATION
Name of taxpayer
CONTRACT INDUSTRIAL TOOLING, INC.
Address of taxpayer (street and number, city, state, ZIP code)
433 NORTHWEST L STREET RICHMOND IN 47374
Name of contact person
Telephone number
MIKE CATEY AND KIM WUERTEMBERGER
(765)966-1134
SECTION• • DESCRIPTION OF
•.•• a PROJECT
Name of designating body
Resolution number
COMMON COUNCIL OF THE CITY OF RICHMOND, IN
10-1954,11-1991
Location of property
IWAYNE
County
Taxing district
2347 SALISBURY ROAD RICHMOND IN 47374
RICHMOND
Description of real property improvements and / or new manufactumg equipment and 1 or
ESTIMATED
research and development equipment (use additional sheets if necessary)
Start Date Completion Date
NEW MANUFACTURING EQUIPMENT FOR NEW FACILITY
INCLUDING POWER PAINT CONVEYOR, FORKLIFT, 23
Real Estate
WELDERS, PRES/S� BRAKE AND 10 FT. X 1/4 SHEAR
New Mfg Equipment 10/01/2003 06/01/2004
1 t� — ,,7kgr Ft 60. � Re Cj1,es� (k
t—
R & DE
SECTION• EMPLOYEESa SALARIES
AS RESULT OF '\' •
a PROJECT
Current number Salaries Number retained Salaries
Number additional Salaries
82 L2,597,378 82
2,597,378
20 500,000
SECTION .TAL COST AND VALUE
OF PROPOSEDPROJECT
Research and Development
NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the Real Estate Improvements
Machinery
Equipment
COST of the property is confidential.
Cost Assessed Value
Cost Assessed Value Cost Assessed Value
Current values
1, 696, 543
Plus estimated values of proposed project
400,000
Less values of any property beng replaced
Net estimate values upon completion of project
2, 096, 543
SECTION• OTHER BENEFITS
PROMISED BY THE
TAXPAYER
Estimated solid waste converted (pounds) Estimated hazardous waste converted (pounds)
Other benefits:
SECTION•
I hereby certify that the represent ions in this statement are true.
Signature of authorize eprese ative
Title
Date si ned (month, day, year)
Form SB-1, page 1 - Copyright 0 2003 DIS, Inc. Clientil-oc
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; p Yes 0 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 be efits is sufficient to justify the deduction described above.
Approved: (signature and title of prized member)
Telphone number
Date signed (month, day, year)
r
A ested by:
Designated body
if t e designating ba, y limits the time period during which an area is an economic revitilization rea, 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 sE-t, page 2 - Copyright 0 2003 Dls, Inc. ClienVLoc
1% T j 2Vga
Form SB-lA
City of Richmond, Indiana
Taxpayer Wage & Benefit Information
Company Name, Address & Contact Person:
y3 3 {v &r- vue5 4" L
Mite.. Cqa-r K hn UJt►e_--em-6e-c'q e
The information requ sted on this supplement to form SB-1 mus e 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 $
2. Average hourly wage for projected new positions $ �d
3. Average hourly health insurance benefit $�
1. The length of the abatement you are requesting l �) t�ea r-s
(A 1-10 year abatement may be requested for 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 Seq. M L �
• the projected useful life of each piece of equipment 'TT"
• 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 f
• costs of the proposed real estate improvements
DEFMTIONS
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 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 eligible employee divided by 2080 hours.
Z�'Zo. _/ '_1/_ . /y�03
(Authorized Sign re and Titl (Date)
Equipment to be Purchased:
(23) Welders
Press Brake
Powered Paint Conveyor
10 ft. x 1/4Shear
Forklift
$ 45,000—Estimated useful life of 10 years
85,000—Estimated useful life of 25 years
130,000—Estimated useful life of 30 years
60,000—Estimated useful life of 12 years
30,000—Estimated useful life of 12 years
Total $400,000