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HomeMy Public PortalAbout001-2002 - Abatement - R2 J2 INVESTMENTS - REAL ESTATEORDINANCE NO. 1-2002 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: 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 redeveloprent 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 R2 J2 Investments, LLC New Jobs: 15 Jobs Retained: 66 Estimated New Value: $600,000.00 Dated: December 13, 2001 Passed and adopted this Z2Q day o 2002 by the Common Council of the City of Richmond, Indiana. President (Brace Wlssel ) ATTE :L, City Clerk "OrSchroeder) PRESENTED to the Mayor of the City of Richmond, Indiana, this day of , 2002 at 9:00 a.m. La I a �XL City Clerk (Normd Schroeder) PROVED by me, Shelley D. Miller, Mayor of the City of Richmond, Indiana, this agday 0 2002 at 9:05 a.m. )-)2 Mayor (S19ey D. Miller) ATT T: , City Clerk (No Schroeder) COMMON COUNCIL CITY OF RICHMOND, INDIANA RESOLUTION 1-2002 A RESOLUTION FOR SUPPORTING THE APPROVAL OF A LATE FILED APPLICATION FOR A PERSONAL PROPERTY TAX ABATEMENT FOR F & H PARTNERS, LLC WHEREAS, Ordinance No. 29-2000, passed by Common Council of the City of Richmond, Indiana on June 19, 2000, approved a personal property tax abatement for F & H Partners, LLC; and WEIEREAS, the proposed abatement amount was used by the Wayne County Auditor's office in computing local tax rates and determining personal property tax bills payable May 10ffi and November 1&, 2002; and WHEREAS, F & H Partners, LLC failed to file its application with the State Board of Tax Commissioners clue to an administrative oversight; and WHEREAS, 50 IAC 10-4-2 allows such applications to be filed late and further requests evidence that local Officials support the approval of the late filed application; and WHEREAS, it is desirable to support the F & H Partners, LLC application. NOW, THEREFORE BE IT RESOLVED that Common Council, the City of Richmond, Indiana, that the City of Richmond supports the approval of the late filed application of for a personal property tax abatement for the assessment date of May 15th, 2001. Passed and adopted this day the City of Richmond, Indiana. thi Mayor of the City of Richmond, 2002, at 9:00 a.m. 2002, by the Common Council of President day of City Cleric AP OVE e, Shelley 6 day D. Miller, Mayor of the City of Richmond, Indiana, this 2002, at 9:05 a.m. City Clerk t Mayor (Shells . Miller) SEND CORRESPONDENCE TO: SHIELDS & CO., P.C. STATEMENT OF BENEFITS SBRM t State Form 27161(11614-00) RECEIVED + Form SB -1 is prescribed by the state Board of Tax Commissioners. 1989 A TEN YEAR ABATEMENT IS BEING REQUESTED. 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 i 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 orrehabilitation, orprior to installation of the new manufacturing equipment and 1 or research and development equipment, BEFORE a deduction may be approved. 3. To obtain a deduction, Form 322 ERA, Real Estate improvements and I or Fort 322 ERA I PPME and i or 322 ERA I PPR & DE must be riled 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 I PPME and I or 322 ERA PPR & DE must be riled between March i 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 riling extension must rile the form between March 1 and June 14 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 6-1.1-12.14.5 (a) 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 R2 J2 Investments, LLC Address of taxpayer (street and number, city, state and Zif- code) 115 Garwood Road Richmond, IN 47374 Name of contact person Telephone number Jerry Martin (765) 966-8068 Name of designating body Resolution number Common Council of the City of Richmond. Indiana 10--1984, 11-1991 Location of property County Taxing district 4820 Woodside Drive, Richmond, Indiana 4737 Wayne Richmond Corp Description of real property improvements and i or new manufacturing equipment and i or ESTIMATED research and development equipment (use additional sheets if necessary) Start Date I Completion Date 41,250 square foot steel warehouse building Real Estate 1/15/02 6/1/02 with loading docks. New Mfg Equipment RBDE Current number Salaries Number retained Salaries Number additional Salaries 66 1,757,184 66 1.757,184 15 308,880 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 Plus estimated values of proposed project 600,000 200,000 Less values of any properly being replaced Net estimated values upon completion of project 600,000 200,000 Estimated solid waste convened (pounds) —_— -- ------ Estimated hazardous waste converted (pounds) Other benefits: None I hereby certify that the representations in this statement are true. Sgnature of authorized representatives Title�/j /� Date signed (month, day year) a.. l J . l7/ / s�7 A. ..,"/-.r.� 1.2 —,/.;i - e> 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: Yes ❑ No 1. Redevelopment or rehabilitation of real estate improvements; 0 2. Installation of new manufacturing equipment; ©Yes 0 N o 3. Installation of new research and development equipment; [3 Yes © No 4. Residentially distressed areas © Yes p N o C . The amount of deduction applicable for redevelopment or rehabilitation is limited to $ _ _ cost with an assessed valve 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. Approve nature and title of authorized member) Telephone number Date signed (month, day, year) ` V ( ) i -� A ested by: D signaled body " If the designating bod 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 DEC—OS-01 05 = 56 FROM :CITY OF R I CHMOND FINANCE I D : 1 7ES SS3 7212 t'Hu= �e Forte SB--IA City of lti& mond, Indiana Taxpayer Wage & Benefit Information Company Name, Address & Contact person: The information requested on this supplement to £oroa SB-1 must be completed and submiaed along with your SB-i M' order far your tax abatement request to be considered. by Richmond Common Council. Please retain your records and calculations used to amve at the information requested on this form. It is subject to review as a part of our monitoring process. 1. AN hourly wage for existing employees $ 12.80 2. Average #sourly wage for projected new positions $ 9.90 3. Average hourly health insurance benefit $ 3.37 I- The length of the abatement you are requesting 10 ..1 1.10 year abatement may be requested for real estate improvemems an manz.{ rct 4nng a ipmerL*. j 2. If purchasing equipment, please attach a list tbat includes the following: brief description of each piece of equipment being purchased • the projected useful We of each piece of egdPment • the states) in which the equipment is being brought into Indisaa fx�nn i.�puuchasing used equipmeat • the cost of each piece of equipment 3. If malaug real estate improvements, please pz*Nide a list that incluides the following: • brief description ofthe real estate improvement (new constructiom rehab, expansion, etc.) • siu of the proposed rent estate improvements costs of the proposed real estate improvements DF"MONS 1. Avtragt imuriy wade for axisrtiag employees: for your most xr ccnr pay v ^cried please p vide the average base wage per hour for all cm=t ftull time, non -supervisor) employers. Do not include the following groups: A. part time employees; 3. management, supen'isors, foremen, or any outer w?e visory P=O=,el; C. owws, stocicholdeM or parWa if they own 2% or more of the busirum% and their family members. 2. Ati =ge hourly wage for projected new positions: Use the sate definition of emplo} em to tv included as in number me above. 3. Average homiy health in mzanw beaefc Please provide the current company paid health im=-ance bmefts provided to houniy employees (as defined abcn-e) and family members. Pleat r:csmt m the form of as houdy ram computed tang the annual coat per eligible emplayee divided by 20801-xi — 9/ This is new construction of a 41,250 steel warehouse building that will have 3 loading docks, 2 ground level doors and 18 ft. ceiling. —RESOLUTION NO. --_ W��BY COMMON COUNCIL Resolution No. ME Rejection Date Passed t — ; a � o g COMMITTEE ASSIGNMENTS Committee Date