HomeMy Public PortalAbout067-2002-Abatement - SANKO PETERSON CORPORATION - REAL ESTATE -AMENDED ORDINANCE NO.67-2002
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
Sanko Peterson Corporation
New Jobs: 7 Jobs Retained: 42
Estimated New Value: $400,000.00
Dated: August 2, 2002
NEW MANUFACTURING
EQUIPMENT - 8 YEARS
Sanko Peterson Corporation
New Jobs: 7 Jobs Retained: 42
Estimated New Value: $2,295,000.00
Passed and adopted this a day 2002 by the Common Council of the City
of Richmond, Indiana.
i
President
(Bruce Wissel)
A T City Clerk
(Norm Schroeder)
PRESENTED to the Mayor of the City of Richmond, Indiana, this day of
2002 at 9:00 a.m.
City Clerk
{Norm Schroeder)
-A
PR VE by me, Shelley D. Miller, Mayor of the City of Richmond, Indiana, this day
2002 at 9:05 a.m.
Clerk
ayor
{Steel . Miller)
,""' STATEMENT OF BENEFITS FORM
4 h State Form 27167 (R6 /4-00) REcLrl
Form SB - 1 is prescribed by the State Board of Tax Commissioners, 1989 C AU9 ED _
/of�j
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 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 / 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. (1C 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 rehabilitation,
or prior to installation 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 filed with the county
auditor. With respect to real property, Form 322 ERA must be tiled by the later oh (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 1 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 filing 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 Form CF - 1 annually to show compliance with the Statement
of Benefits. (106-1.1-12.1-5.6)
5. The schedules established under IC 6-1.1-12.1-4(d) and IG 6-1.1-12.1-4.5 (e) effective July 1, 2000 apply to any statement of benefits tiled 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
Sanko Peterson Corporation
Address of taxpayer (street and number, city, state and ZIP code)
505 Industrial. Parkway
Richmond IN 47374
Name of contact person Telephone number
Lisa A. Wolf, Office Manager (765 )966-9656
Name of designating body Resolution number
Common Council of The City of Richmond 10-1984, As.Amended 11
Location of property County Taxing district
505 Industrial Parkway, Richmond -IN 47374 WAYNE Richmond Corp
Description of real property improvements and / or new manufacturing equipment and f or ESTIMATED
research and development equipment (use additional sheets if necessary) Start Date Completion Date
See Attached Sheet
Real Estate 05/2002 09/2002
New Mfg Equipment 12/2001 03/2003
R & DE N/A N/A
Current number Salaries Number retained Salaries
42 1,272,890 (est) 42 1 1,2,72,890 (es
SECTION 4 ESTIMATED TOTAL COSTAND VALUE OF PROPOSED PROJECT
Number additional Salaries
) 7 1168,560 (est)
NOTE; Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the
COST of the property is confidential.
Real Estate Improvements
Machinery Research and Development
Equipment
Cost
Assessed Value
Cost
Assessed Value Cost
Assessed Value
Currentvalues
N/A
N/A
Plus estimated values of proposed project
400,000
00 , 000
2,295,000
2,295,000
Less values of any property being replaced
Net estimated values upon completion of Drolect
Estimated solid waste converted (pounds)
Other benefits:
I
authorized representative
Estimated hazardous waste converted (pounds)
that the representations in this statement are true.
N/A
Date signed (month, day,
President 8/2/02
991
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:
❑ ❑ No
1 . Redevelopment or rehabilitation of real estate improvements; Yes
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 ❑ 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: s nature and of authod ember)
Telephone number
Date signed (month, day, year)
c� z^
A ested y:
Designated body
y
* if the designating body limits the time period during which an area is an economic revitalization 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
m
69
64
Form SB-1A
City of Richmond, Indiana
Taxpayer Wage & Benefit Information
Company Name, Address & Contact Person:
The information requested on this supplement to force SB-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
requested on this form. It is subject to review as a part of our monitoring process.
1. Average hourly wage for existing employees
$ 10.52
2. Average hourly wage for projected new positions $ 9.50
3. Average hourly health insurance benefit (spc pays 100%) $ 4.90
1. The length of the abatement you are requesting 8—e ua ment / 10—real
(A 1-10 year abatement may be requested far real estate improvements and manufacturing equipment.)
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 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, 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.
1
President 8 2 02
(Authorized Signature and Title (Date)
DISPOSITION OF ORDINANCE NO. -2002
RESOLUTION NO.
BY COMMON COUNCIL
Ordinance No. - 2002 Elstro Lundy tassel Sharp Welch Parker Combs Dickman Hutton
Resolution No.
Date S /i Z
rules 9st readin
;Second
(Moved to Second Readi
Second
Engrossment
Second
3rd reading
Second
Passaae ,/� �i ✓ ✓� ✓� J ✓�
Date Passed o�
COMMITTEE ASSIGNMENTS
Committee Date