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Home My Public Portal About031-2002-Abatement - CINRAM - NEW MANUFACTURING EQUIPMENTORDINANCE NO.31-2002 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. S. 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 Cinram, Inc. New Jobs: 50 Jobs Retained: 400 Estimated New Value: $4,325,000.00 Dated: April 8, 2002 Passed and adopted this L - day o 2002 by the Common Council of the City of Richmond, Indiana. President (Bruce Wissel) ATT A- S�L L�" City Clerk (No a Schroeder) k PRESENTED to the Mayor of the City of Richmond, Indiana, this rl day of , 2002 at 9:00 a.m. City Clerk (NorWia Schroeder) k OVED by me, Shelley D. Miller, Mayor of the City of Richmond, Indiana, this � day o , 2002 at 9:05 a.m. Mayor (Sl. ey D. Miller) ATT T City Clerk NoSchroeder) STATEMENT OF BENEFITS eta r� z7re� pis 14� Fam 36 - t tapnetcre ed by the State Bard of Tu CwwOulorrars, im FORM $B-1 IMSTRUOPONS: I. This sbttamant must be eubMitted to the body da*naMe aconamtC r�eW &Mfon Oros prior to the pubtk hallooing 11 the daslgnatlnp body requfras fnfar- Mallon from the a ppgmnt In makinglee decision about whether hf daslgnate an Economkr Revitagm don Are*. Otherw(sa Mi9 statement must be submlttvd to the design Wing body SE FORE a parWn InstaNs the new manulacturtng aqufpmsnt and / or res larch and development equipmaoL Oil BEFORE the radevalnpmont or rehabilcmdon of sea! propprfy for whtdr the person wishes too dam a deducton_ 'Projects• pwwrnad orWMMM&d to after July 1 1987and areas daeigna4¢CattarJuly l, 1e87rggetr8r,5T.4TEMElVTOF@ENEFTl-S. (IC 6-1.1-42r) 2. Approval at the deelgrratlng body (City Council, Town Board, COtmty t,;ouncN, etc) must be obtained prfor to !nitration of the Mdevelapment of rahablddfstldn, ar prfar m in-MONan of pre new manulactudn$ equipment and l or msearah Arwx dvyakWent equipment, BEFORE a deduction rosy be appmv" a Tb abtalh a detWdw. Fmm = ERA, Real Esbste Improvements and l or Farm 222 ERA / PPMt: and / or 322 ERA / PPR $ DE, must be tided with the cowly auditor. WN? rbap6ct to real pnOperry, Form 322 ERA MWbe MW by Via later at (1) May 1 or (2) mlrfy ($p) days altar a ►tafkaa of IFocrepga read property a9sasarnrnt Is racahed lrortr Bra aasassaf. d�amt aW ,ERA l PPMEand /or 322 ER4 PP a Dl= mw9t be XW batwaen Merrh rand May 15 of ire been ob erfaWds2rnefitY Ah7 whkh new piarwlactiudng equipment and /ar rosaamh and developmant aaeqmu�pruent becomes assasaai* ur MW a Aft extanalon has poWn who abteho a ltltnQ axta Wm »ar ft Me Iarm bahvaorr March T andJuna 1s of Mt year. 4- WSW wtratsa $011I dPwrt of 8approved armRs was alter June 30, 1991 myst somit Farm cF - I annua/1y to Shaw eornpBanee wlbh the Statement o1 _T. T-12.1n3) 5. The sdradd198 uWabllshed under IC 6-1.1-12.1-4(d) and IC s-1.1-12.1.4.5 (a) atfmilve Juty 1, 2000 apply to any atatsmant o/ bene7ks fled on or alter July T. 2000. The SCheduhs effective prior to July 1, 2000 &hall continue to apply to those statement of boneffts tiled befare Jrrly 1. 2000� SECTION Nsma ttarrpeyer i� I r►i �.Llnr] Addres& of t%xM@r (serest and Aumber, clb& st io and 21P code) tISma o I COntact Telepitana numhar SECTIONs • AND DIESCPIPTION OF -•-• ■ PROJECT Naurle of atg naeng body `` r1t ► } Ne9ok>fEart rurrrrbar l arattan 4f property t.,0lgtty !bring dltrllfCd U�L-rw, Oastxiptktn of t eel prope. improvements and 1 0 new menufacWnp equipment and / or researsN and da1►etopme equipment (use >adcffdunad shesbs If necessary) EVMATIrD Start [sofa compiewn (Data Real Esbda Now Mt'g Cquipment c ► Q ( ¢Caul C� •� Ft & OE CumHM mtrrrtbar Se trfas Number refh/drod 5elktrtae Number addNk net cAlafft U. 061 �Qi:�! TOTALSEC I ION EST111,1ATED M VALUE OF -•-• ■ PROJECT 40TO Pursuant trr IC ti-1.1-1z.1 ti5.1 (0) (2) the Root Mefttb bnp*wanents manhinfty Rssesrdt and tDevalsprnant COST of the property Is oWdendW. am cost Assessed value cast Aaalyrwet v m cn.t Asoossed current vetoes Flux aatlnlated vidues 4t ptopoead projectCkSD LAn vake" at mpimcad Net a Mneted values upon axpletlror of PR*W atpd aogd rYssts Cgrtwr[Mi (00410" 11 _ Eallnutw h*tw dbue aaote converted (polaris) Ili/ftti Ofhsr ben�e: l hereby carffy that the regresenbtfiorm indlia stsitetnar8 are true. 31gr umv of atWwoed rm"arm"w T1Ne Oat* aWwd (mangt, day. yaw M 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; ❑ Yes ❑ N o 2. Installation of new manufacturing equipment; ❑ Yes ❑ N o 3. Installation of new research and development equipment; ❑ Yes ❑ N o 4. Residentially distressed areas ❑ Yes []No C .The amount 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. 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 s nature and Vre of authorized member) Telephone number Date signed (month, day, year) j to by: Designated body * If 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 MAR-28-2002 13:33 FROM BRADY WARE & SCHOENFELD I TO e49390320 P.02 Form SR-1A City of Richmond, Indiana Taxpayer Wage $4 Benefit information Company Name and Address: The information requested on this supplement to form. 88-1 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 rerquested 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 3 Average hourly health insurance benefit $�. /8 1 The length of the abatement you are requesting (,a 1-10 yearabatement may be requested for real estate improvements and manurad uring equipment.) 2 If purchasing equipment, please attach a list that includes the fallowing: brief description of each piece of equipment being purchased * the protected useful life of each piece of equipment • 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 • costs of the proposed real estate improvements, DEFINITIONS 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, '!Wpervisors, foremen, or any other supervisory personnel, C_ owners, stocl�holders, or partners if they own 21% or more of the business, and their family members. 1i Average hourly wage forpro*cted 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 erriployees (as defined above) and family. members. Please presont in the form of an hourly rate computed using the annual most per eligible employees divided by 2080 hours. (Authorized Signature and ) T (Date) TOTAL P.02 Cinram, Inc. 1600 Rich Road Richmond, IN 47374 SB-1 A 411810012 Description GIIVIA LALt, Ci4lV1 ViliC ^ packaging equipment Toolex Replication Cv¢tAm Toolex Replication System Toolex Replication System Kammann 6 color printer ►ul inspection cyder Bronway Sleever tn,nienning artmirnmantl GIMA Packaging Machine Six Color printer Six Color nnntar Developer Miscellaneous small rom iinmant naarlad for expansion Useful Life State Cost 7 Alabama $ 8,891.67 7 Alabama $ 795,029,00 7 Alabama $ 795,029.00 7 Alabama $ 845,255.77 7 Alabama $ 486,305.00 7 Alabama $ RR,RZ'2.nd 7 Alabama $ 152,505.34 7 New $ 500,000.00 7 Ne%,L, 50ri000.00 7 New $ 60,000.00 7 New $ 115,152.18 $ 4.325;000.04 RESOLUTION N• MKOT01 LK I X 531FROM no • • 1 i �� . • �� • •®i Engrossment Date Passed Jam- ` l - 0 q COMMITTEE ASSIGNMENTS Committee Date