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HomeMy Public PortalAbout030-2002-Abatement - AMCAST AUTOMOTIVE - NEW MANUFACTURING EQUIORDINANCE NO.30-2002 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: NEW MANUFACTURING EQUIPMENT - 10 YEARS Amcast Automotive New Jobs: 100 Jobs Retained: 150 Estimated New Value: $4,400,000.00 Dated: March 27, 2002 Passed and adopted this i � day o 2002 by the Common Council of the City of Richmond, Indiana. President (Bruce Wissel) A S City Clerk (No a Schroeder) PRESENTED to the Mayor of the City of Richmond, Indiana, this i T day of , 2002 at 9:00 a.m. City Clerk (N , a Schroeder) 1016- AP ROVED by me, Shelley D. MilIer, Mayor of the City of Richmond, Indiana, this day of , 2002 at 9:05 a.m. Mayor (Shell .Miller) ATTE �JL�' City Clerk (Norma S oeder} t`If1R- •:_�'7--_L1F l';�' it: -iH FKI,I{"1 tLLJN UMV WMTNr- 1,u �� •l c.�� 1�:�� ...., y�vv•t C:Ivrt=rya I Ur t3i•3' tH i S Maw Fbrrn27157(RESI4VII 4 Form SB - 1 Is prescribed Cy t4a Slate Board of Tax Commiselaners. ign SB INSMUCi701VS' I. This at SMOnt mast be submlttad to The body dealgna8hg the etwwmfc revi9I&atfon area prior to the pubtin hearing it The daslgnating body requlres infar- maHon from the trpplicant In makIng Its decision about Wh®thsr 10 deSO MW an Zacftomlc ReVifalizaflan Area. Qherwl8e thls,s WWMant trlr�atbQ 611bmT1tecT ro the dw gnatinl7 bacdyy BEFOP—C a person insfalls the new manufacturing equi ment and / or nesearch and ttev$iopmenr aquipmerit or f3kF Urn the redevelopment or rahab1111adof) of real properly fpr Which MR p$rsarf Wishas to claim a deduadon. 'Prgleats, planned at cgmrnitted to after July t, 7s87 and aressde IgnatsdarterJuty1. 1887requieaSTAT&MevTopaeVEFITS. (IC6-f.r-r21) 2. Approval of the deslgnaflnQ body (City Council, Ibwn gash County Council, Ob.) muFr be obisined poor to inWidion of the rrrdeveiapment orrehabi�tlan, ar prior to Installatloq of The new mant,& cludng squlpmarrtandl orm aarch and development equlprnenr, Yt:FCitE a dedLcfMn may be 8pproveri $. To obtmir a deduCflan, Vim SU Eta TgeaT Patois fmprnvemenrsatldf rxt"otftf 3�2 EH,4 /PPME anal cr y ERII /pPR & DLC, must be ffled � the oaunly audlfgr. IN1ift respect 10 teal prnp®tty, Form = ERA roust be Head py The later ap (1) May T 8, or (2) Mhty (30) days after n naflce of increasd is rail property asseasmant !9 rer=aNed trcra the township asssssaf. Form $22 ERA f PPMt: and /or .V F2 ERA PPR ec bE must brt tiled between Afaroh 7 and May 15 of the asseSsmont year In t d?kh now manufacturing equipment and /ar research d6d dave/opmard equipment becorrrett sosessa6ie, tmless a BHrrg extension has been Obtained. A person who c0falns a filing smnsion muFr Hie the torts between March I MdJune Id of thatyear. 4. P r$ owners whose 5iatemght of SenaMs waa approved after June 30, 1991 must submit Form CF - t mmuatlly To showcoMpllarws WjM the 5taTPmant S. The-wtsdulaes astabllshed under 10 g-1.1-72. 7-4(d) and 10 s f.7- t2.7 4.6 (9) effective Jrrly 1. 0000 8Pp1r to any statesmen of benefrbt pled on or 4ftet Jury 7, 2000. The schedules offactive prior to July f, 2000 shall cohlirrLa fo apply to thass stalOMOnt of benefits Mad before July t, zoaa, Name of )axpayer S� address of taxpayar (street and numt Name of Contact pe -nn J �� �✓ , p Name of dealgnafing boby state and ZJP cads) ii JJ %te e n number ,acatlan of gMpeny County Tf e�Gng district )ascription of rtisaf Property unprovements and l or ne me3nutaeturing "iprnent and l or 6 asearch and dev etopmeni equipment (use additnal shoots' IItnec=aryj AIWor� ft+ljM /+�Vvpu�rQ rJaE PZZ 1 - Start bane Real t91ate Cop, '/• I -r, %/ie,J New Mfg Cq ipm nt Mi4y -rwde .arrant number alaries Number retained 8afarlas Number erddfdonstl l510 pA7L�� %S'1a �ilv�?i*JjDtQp Ja i NOTE: Pursuant to IC 8-1.1-12.1-5.1 (a) (2) the COST of the property Is conf'idenUl. Cuffenc 4eluaa Plus estimated values of proposed prvjoot Less values of any property being replaced _ Net ssttmated values upon completion of prolec F.sftated acrid waste convar(ed (paunrts) Omar benefits: - aut Itzed Real Estate Improvements - machinery Cost Assessed Vart,e Cast I= Estimated hazardous waste oonveriad Owund4 �iic�— 1Qv5I �� in fh;s Rate ZIP-3 '2,39S,Dtyp (n W7 hh. 03/28/02 THU 14.53 FAX AMCCST-RICHHOND @005 M�1F�-2Z�tt�d�- lit= 3rs rt«'t r-Will Utv WY' WIM %-U �.-- Wa have reviav red our prior actions relating to the dealonation of this somnomic revitalization area and find that the ap Ilow meets the general standards adopted In the resolution previously approved by this body. Said resolution, paused under tC &7.y-12.�•2.5, pro. vides for lirnitaUcAt the following as authorized under 1C 6.1.1.12.1- A. The designated area has been lirnited to a period of time not to exceed calendar years "` (see Dolour). The date this designation expires is 8 . The type of deduction that is $flawed In the designated area is limited to: I. Redevelopment or rehabilitation of real estate improvements, 0 Yes D N o 2 . Installation of new manufacturing equipment; 0 Yes d N o 3. Installation of new research and development equipment; ©Yes O N O 4. Aesjdentially distressed areas © Yes 0 N a C . The aMou nt of deduction applicable for redevelopment or rehabilitation is limited 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. Mar limitations or conditions (spec�l`y Also we have reviewed the lnfaMiation contained in the statement of p$nefits and find that the setimates and expeetatlons are reason- able and have determined that the totality of benefits is sufficient to justify the deduction described alcove. Approved: lure and'M It f Pied nrem Tetaphoaa 116n64 Dal 99nod (1raocrrEh, day. Y"f) ed ♦ � Dbody . Q * if t e dl;esignatin d limits the time period during which an area is an economic revitilitation area; it does riot limit the length of time' is e taxpayer era#i d o receive a deduction to a number of years designated under IC of 4Z Form SB-L-� _itv of Richmond, Indiana Taxpayer Wage & Benefit Information Company Name and Address: � > ' A�ic.4.si A78Mo7.1c — �c �rno,u,� Yu4ArT /5-1o/ it10114 .S--r. W c,g1nO, )A, 1til 1�737Y- The information requested on this supplement to form SB-1 must be 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 S /,:?.A5 2. Average hourly wane for projected new positions 3. Average hourly health insurance benefit The length of the abatement you are requesting /0 1/6?q'c- (A 1-10 year abatement maybe requesred for real estate improvements and manufacturing equipment.) If purchasing equipment, please state the projected useful life. Q tam If purchasing equipment, please state whether the equipment is new or used. /vet If purchasing used equipment, list the state in which it is being brought into Indiana from. DEFENMONS I. 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 goups: 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 emp€oyee divided by 2080 hours. S ipature and Title)" (Date) LACOS71P221 FLCA coal model 15.5 lb 11-15-01j*,cApjT L 311/02 ail_ AMCAST AUTOMOTIVE BRAKE & CHASSIS WISION GPM PROCESS P221 FLCA TRW Twenty Casting Stations 2115/02 Capital Equipment & Depreciation Schedule (000's) Unit My Cost Prototype tippers 2 35 Additional Equipment 1 21 P 221 line 6 Melting equipment 1 40 looser 1 113 Casting table 1 202 tippers 12 34 Part extraction & quench 1 210 Machining 1 288 X-ray 1 495 Marking system 1 16 Knuckles to line 4 Melting equipment 1 125 Replace doser 1 113 Replace rotary bearing 1 35 Casting table 1. 189 Robot refurbishment 1 40 P221 line 5 Melting equipment 1 35 Casting table 1 181 Tippers 14 34 Part extraction & quench 1 210 Machining 1 288 X-ray 1 495 Marking system 1 16 Support Equipment Dry ice die cleaning 1 35 Die racks & carts _ 1 10,000 Pound lift truck _ 30 Total Contingency @ 5% Perp j j'aAl 7" P 1141 jLjvr nJ q f1 gel r� -tom QUOTE: 00-127A Part # T80 (00or- s) Extended Cost 70 21 40 113 259 408 210 288 495 16 125 35 235 40 35 178 478 210 288 495 16 35 0 0 4,203 210 $4,413 AMCAIr A U T O M O T I V E RICHMOND PLANT April 2, 2002 Mr. Anthony L. Foster II City of Richmond 50 North Fifth Street Richmond, IN 47374 Dear Mr. Foster, Amcast Automotive would like to thank the City of Richmond for the past support received for Amcast Automotive's requests for tax abatements for investment in new manufacturing equipment. Amcast Automotive is presenting for approval the enclosed Statement of Benefits (SB-1) form and SB-IA, City of Richmond supplemental form for application for a ten-year tax abatement for new machinery and equipment to manufacture aluminum castings. If you have any questions, please call me at (765) 966-6161 ext. 108. Sincerely, Michele L. Brehm Finance Manager Enclosures 1561 Northwest 11th Street • Richmond, Indiana 47374 • 765/966-6161 • Fax: 765/966-6163 DISPOSITION OF ORDINANCE NO. "J<9 G -20021 A Resolution No. OMNI Second 3rd readin Second I Passaae I L/ I --f- L--T L,+ v- k e-- I C-- I I Date Passed Ls �o a COMMITTEE ASSIGNMENTS Committee Date