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HomeMy Public PortalAbout050-2002-Abatement - DWRW - REAL ESTATEORDINANCE NO. 50-2002 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: REAL ESTATE - 10 YEARS DWRW, LLC New robs: 2 Jobs Retained: 0 Estimated New Value: $75,000.00 Dated: May 20, 2002 (L Passed and adopted this _Lq_: day o 2002 by the Common Council of the City of Richmond, Indiana. n President (Bruce Wissel) A ES4'%.. City Clerk (No Schroeder) PRESENTED to the Mayor of the City of Richmond, Indiana, this j day o , 2002 at 9:00 a.m. City Clerk APP OVED by me, Shelley D. MilIer, Mayor of the City of Richmond, Indiana, this A day 2002 at 9:05 a.m. Mayor (ShellOD. Miller) Clerk 'ir r a l + i ?' Form S6 i es prascnbet� b r tiro State E .. _ _. ., RECEIVED MAY 2 3 2003 INSTRUCTIONS: 1. This statement must be submi[ted.to the body.designafing the economic revitillzatlon area prior to the public hearing if the designating body requires Infor- mation from the.applicant In inak1hp Its declslon abodt whether to designate an Economic Revitalization Area. Otherwise this statement must be submitted to the designating borl� BEFORE a person Installs the new manufacturing equipment and / or research and development equipment or BEFORE: the redevelopment or reha llltatldn'of real property forWhlch 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.(Clty Council, Town Board, County Council, etc.) must be obtained prior to Initiation of the redevelopment or rehabi!ltadon, or prior to installatlon of the new manufacturing equipment and/ or research and development equipment, BEFORE a deduction may be approved. S. To obtain a deduction, Form 322 ERA, Real Estate Improvements and/or Form 322 ERA/PPME and/ or 322 ERA /PPR & DE, must be tiled with the county auditor. With respect to real property, Form 322 ERA must be riled 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 I and 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 riling extension must file 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 Fort CF - 1 annually to show compliance with the Statement OfBenetits. (IC 6-1.1-12.1-5.6) 5. The schedules established under 1C 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 riled 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 .Irrry I 9nnn Nameof taxpay �f /^ (A W L C Ldh �I C�E�ro? L/ ��11 4f /1I ii O�k1 Address of taxpayer (street and number, city, state and ZIP code) /00 7S SIrP fan C ► ✓ill, QLil0 ��Lj/vL3 Name of con actperson Telephone number • . . , r s . -.•. r :1- Name of designating body /� I dC.(C.417�arld CpM•'Ylpy} WtdnG•f Resolution number Location of property _f 371 6.6v % P' Rod County IcAlot 6l e, Taxing district Description of real property improvements and / or new manufacturing equipment and I or research and development quipmenrtJWsye ddittllonalj�beets! necessary)% Q /r �r�� ESTIMATED Start Date Completion Date ©� 19/i7 r m'S 6�,1�,,,� �� ,'fir o�L Reef Estate TiA 1� New Mfg Equipment & U.5* acol rt/odQm�ra R&DE • s s Current numbe� Salaries Number retained Salaries Number additional Salaries Z 30 CK NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the Real Estate Improirements Machinery Research and Development Equipment COST of the property Is confidential. Cost Assessed Value Cost Assessed Value Cost Assessed Value Current values t 24 co© Plus estimated values of proposed project 3j 000 Less values of any property being replaced .- Net estimated values upon completion of project 57 000 Estimated solid waste converted (pounds) Estimated hazardous waste converted (pounds) Other benefits: �dr % `� Ri ! herebycerti that the representations in this statement are true. Signatuorized r present tive Title Date signed (month, day, year) 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 1C 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 ❑ No 2. Installation of new manufacturing equipment; ❑ Yes ❑ No 3. Installation of new research and development equipment; ❑ Yes ❑ No 4 . Residentially distressed areas ❑ Yes ❑ N o 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. Approved: (signature and title oofffa th%orized member) Telephone number Date signed (month, day, year) A ested by: Des1 naffed body r * If he designating body limits the time period during which an area is an economic revitilization area, it does not limit the length of time a axpayer is entitled to receive a deduction to a number of years designated under IC 6-1.1-12.1-4 or 4.5 Form'SB-IA City of Richmond, Indiana Taxpayer Wage & Benefit Information Company Name, Address & Contact Person: The information requested on this supplement to form SB-i 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 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 $, 3. Average hourly health insurance benefit $ 1. The length of the abatement you are requesting 0 d rs (A 1-10 year abatement maybe requested for real estate improvements and manufacturing a uipment.) 2. If purchasing equipment, please attach a list that includes the following: • brief description of each piece of equipment being purchased + the projected 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 malmng 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, 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. horized Signature and I DISPOSITION OF ORDINANCE NO. -2002 RESOLUTION NO. BY COMMON COUNCIL Ordinance No. - 2002 Elstro Lundv Wissel I Sharo I Welch I Parker I Combs 1 Dickman 1 Hutton Resolution No. Date (? Suspend rules 1st readin Second Moved to Second Readir Second Engrossment Second 3rd reading Second Date Passed-19_Q ?- COMMITTEE ASSIGNMENTS Committee Date