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Home My Public Portal About019-2002- ABATEMENT - SPARTECH PLASTICS - EXPEDENTURE PLANORDINANCE NO. 19-2002 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: 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: . STATEMENT OF BENEFITS FORM ,.State Form 27167 (R3 / 11-91) t" C E Form SB 1 is prescribed by the state Board. of Tax Commissioners, 1989 _ 4+ ee The records in this series are CONFIDENTIAL according to IC 6-1.1-35-9 INSTRUCTIONS: 1. This statement must be submitted to the body designating the economic revitilization area prior to the public hearing if the designating body requires info. oration from the applicant in making its decision about whether to designate an Economic Revitilization Area. Otherwise this statement must be submitte to the designating:body BEFORE a person installs the new manufacturing equipment or BEFORE the redevelopment or rehabilitation of real property fc which the person wishes to claim a deduction. A statement of. benefits is not required if the area was designated an ERA prior to July 1, 1987 and th project" was planned and committed to:by the applicant, and approved by the designating bodyy, prior. to'that date. "Projects" planner! or committed to afte 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 rehabilitatiol or prior to installation of the new manufacturing equipment, BEFORE a deduction may be approved. 3. To obtain:=a deduction, Fort 322 ERA, Real Estate Improvements and / or Form 322 ERA l PP, New Machinery, must be filed with the county auditor. Krh 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 assessimel is received from the township assessor. Fort 322 ERA / PP must be filed between March 1 and May 15 of the assessment year in which new manufat tuning equipment is installed, unless a filing extension has been obtained. A person who obtains a filing extension must file the form between March 1 an June 14 of that year. 4. Property owners whose State-merri of Benefits was approved after July 1, 1991 must submit Form OF - 1 annually to show compliance with the Statement c Benefits. (10 6-1.1-12.1-5.6) Name of taxpayer Snartech Plastics Address of taxpayer (street and number, city, state and ZIP code) 48.15—Woodside .Drive __ ... ... . ..Richmond Indiana. 47374.__.. Name of contact person Telephone number Ken Maurer, Controller (65 )935— s Name of designating body Resolution number hm nd .. 10-1984-11-1991 Location of property County Taxing district .4,915 Drive-.R hmond Indiana 47374 Wayne Richmond Corp. Description of real property improvements and / or new manufacturing equipment to be acquired (use additional Estimated starting date sheets if necessary) Mareh 1,2002' ae • - Estmtd c ompletion date See- Attached Listing October 31,2002_ ImprovementsSECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT Real Estate - Cost Assessed Value Cast Assessed Value Current values Plus estimated values of proposed project Less values of any property being replaced Net estimated values upon completion of project that the representations in this statement are true. ature of authorized representative tlay, year) a r b -I- INSTRUCTIONS: (1C 6-1.1-12.1-5.9) 1. Within forty-five (45) days after receipt of this form, the designating body may determine whether or not the property owner has substantially complied with the Statement of Benefits. 2. If the property owner is found NOT to be in substantial compliance, the designating body shall send the property owner written notice. The notice must in- clude the reasons for the determination and the date, time and place of a hearing to be conducted by the designating body. if a notice is mailed to a prop- erty owner for new manufacturing equipment, a -copy of the written notice shall be sent to the State Board of Tax Commissioners. 3. Based on the information presented at the hearing, the designating body shall determine whether or not the property owner has made reasonable effort to substantially comply with the Statement of Benefits. 4. if the designating body determines that the property owner has NOT made reasonable effort to comply, then the designating body shall adopt'a resolution terminating the deduction.. The designating body shall immediately mail a certified copy of the resolution to: (1) the property owner, (2) the County Auditor; and (3) the State Board of Tax Commissioners. We have reviewed the CF-t and find that: ❑ the property owner IS in substantial compliance " ❑ .the property owner IS NOT in substantial compliance ❑ other (specify) Reasons for the determination (attach additional sheets if necessary) Signature of authorized member Date signed (month, day, year) . Attested by: Designating body If the property owner is found not to be in substantial compliance, the property owner shall receive the opportunity for a hearing. The following date and time has been set aside for the purpose of considering compliance. Time of hearing Date of hearing Location of hearing ❑ AM ❑ PM Signature of authorized member body to signed (month, day, year) . A property owner whose deduction is denied by the designating body may appeal tine designating body's decision by filing- a complaint in the office of the Circuit or Superior Court together with a bond conditioned to pay the costs of the appeal if the appeal is determined against the property owner. 80kICEFNLI4.9YSIE{f8 FE063R.+B707 INN MOV-28-01 08:30 FROM:CITY OF RICHMOND FINANCE II]:1 765 S83 7212 Form SB-1A City of Richmond, Indiana Taxpayer Wage & Benefit Information Company Name, ,,address & ConMet Person: The information requested on this supplement to form SB-1 must be completed and submitted along wi& 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 active at the information requested on this form. It is subject to review as a part of our monitoring process. 1. Average ho-Ur1y wage for 0dSti3g employees 2. Average hourly wage for projected new positions $ 9.90 3. Average hourly health insurance benefit $ 3.37 PAGE 2/4 1. The length of ft abatement your are =pacstWg (A 1-10 year a&demern may be requestedfor real estate improvements and manufm3wing equipmew.) 2. If pwchasing equipnrcM please attach a list that includes the following: • brief description of each piece of equipment beipS purchased the projected usefal life of each piece of eqt dpmem ' the srattew in which the egtx lrpment is being brought into Indiana from if ptz ebasing used equipment • the cost of eazh piece of equipment 3. if maldng real estate improvements, please provide a. list unit 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 3if1�lE'INTx']C4N� 1. Average homiy 'wage for eA<mg employees: for your most recent pay period please provide the average base wage per hour for all cmrmt full time, noxt supuvisocy employees. Ao not rude she following groups; A. pant time employees; B_ manmgemmt, sapmisors, foremen, or any other supervisory personnel; C. owners, stockholders, or paxinem if they own 21Yo or more of the buss ems, and di6r family member 2. Average hourly wage for projected new positions: Use the setae definition of employees to be included as is numbcr one above. 3. Average hourly health msm=ce benefit- Please provide the =ert company paid health msurarice benef,U provided to hourly employees (as defmcd above) and family members. Please present In the form of an 110thJy rate computed using the mnuai cost per eligible employee divided by 2080 hours. .)L!/01- Sj�pAture and Title) SPARTECH PLASTICS-RICHMOND, INDIANA 2002 CAPITAL EXPENDITURE PLAN 10 Year Abatement Requested Useful Equipment Description life Cost Resurface two chill rolls 10 20,000 Rebuilt line 1 extruder screw and replace barrel 10 25,000 New extruder screw for line 7 10 12,000 Overhead hoist 16 25,000 New compressed air lines for new product line 16 8,000 Steam boiler for stress relieve press 16 50,825 Cutting board pattern chill rolls 10 45,345 Feedscrew line #4 10 16,950 Levant pattern roll 10 30,000 Downstream line #2 10 10,000 Switch gear and transformer 16 75,000 Plastic Extrusion Sheet Line 10 452,441 Stewart & Cc 675 ton-3- opening post type-upacting 10 11,329 hydraulic stress relieving press Hydraulic stress reliever 10 48,079 Application Engineering Co. chiller, temperature controller 10 18,755 30 ton model, WF-28-30 Bullard vertical lathe w/42 in. dia. table 10 3,617 Automatic under table panel saw, 1 Appresall dust collection 10 28,944 system w/pipe & specialties, Hendrick saw Pro RP 3000 20037 Total of Capital Expenditures 861,285 RESOLuTibN NO. = . Resolution No. .. - •��.__-___--_Suspend rules 1 st reading Pa: Date Passed � - 0 a COMMITTEE ASSIGNMENTS Committee Date