HomeMy Public PortalAbout016-2001- ABATEMENT- AMCAST AUTOMOTIVE- RICHMOND PLANT - NEW MAORDINANCE NO. 16-2001
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 pursuant to Indiana law for either a three (3), six (6) or ten (10) year
period from the assessed value, and
WHEREAS, an owner of new manufacturing equipment is entitled to deductions pursuant to
Indiana law for either a 5 year or 10 year period from the assessed value of new
manufacturing equipment, 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- Richmond Plant
New Jobs: 0 Jobs Retained: 162
Estimated New Value: $2,189,250.00
Dated: March 27, 2001
Passed and adopted this day of 2001, by the Common Council of the City
of Richmond, Indiana.
President
(Karl Sharp)
A X)- .1ity Clerk
(Norma Schroeder)
PRESENTED to the Mayor of the City of Richmond, Indiana, thisLL day of ;
2001, at 9:00 a.m.
City Clerk
(Norma Schroeder)
P OVED b me, Shelley D. Miller, Mayor of the City of Richmond, Indiana, this 4vty
Y Y Y tY
of , 2001, at 9:05 a.m.
Y
yor
(Shelle)(I Miller)
A E City Cleric
(Norma chroeder)
oEa STATEMENT OF BENEFITS s a FORil11
�r f State Form 27167 (R5111-95)
><' Form SB - 1 is prescribed by the State Board of Tax Commissioners, 1989 }
�me
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, 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. (IC6-1.1-12.1)
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, BEFORE a deduction may be approved.
3. To obtain a deduction, Form 322 ERA, Real Estate Improvements and / or Form 322 ERA / PP, New Machinery, must be filed with the county auditor. With
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 assessment
is received from the township assessor. Form 322 ERA / PP must be filed between March 1 and May 15 of the assessment year in which new manufac-
turing equipment becomes assessable, unless a filing extension has been obtained. A person who obtains a filing extension must fife 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 - i annually to show compliance with the Statement
of Benefits. (IC 6-1.1-12.1-5.6)
Name Naxpayer [�
MCA'E i �u o+ho`riu� - cc t-E na�r, PLra+��
Address of taxpayer (street and number, city, state and ZIP code)
t S(o I. N Lo i 11y ST ee�e-r
Name of contact person Telephone number
►' 1C-tAG1 - 1`3R�t�nti ( 765)Q66-&IraI x Ibg
SECTIONa aN 4NDDESCRIPTION OF • " • i PROJECT
Name of designating body (� Resolution number
�1C-HfVt�kJa Cr>mrrnors e0UK1Cit-
Location of property County Taxin strict
� Sra l iU t�] t l `� S-rrLec.`r �F I C t-►moNn � xl y t e Al
Description of real property improvements and / or new manufacturing equipment ESTIMATED
(use additional sheets if necessary)
[� Start Date Completion Date
YRo D C.IC--rt0" EQukPntiEni,r -FD Real Estate
AwAtimu ak CASTI"'-5 . New Mfg Equipment AuG 2,po1 MAP- --2-00�L
SECTIONOF
• AND SALARIES
AS RESULT OF -a•a PROPOSED:
PROJECT
Current number
Salaries
Number retained
Salaries
Number additional
Salaries
1 �4
�I b 12,
NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the o ' -
COST of the property is confidential. -'"'
�•�• � Cyst...:..'.. .:. Assessed Value Assessed Value
Current values a7 3�f4, DOb 3, 10S, 64L
Plus estimated valves of proposed project b' SD
Less values of any property being replaced
Net estimated values upon completion of project 50
Estimated solid waste converted (pounds)
Other benefits:
Estimated hazardous waste converted (pounds)
SECTION•
i hereby certify that the representations in this statement are true.
eeeoof authorized representative
Signature
Title
Date signed (month, day, year)
-
� �' C" d �`�"�'�-
ri t14Ajcc mC�-
3 /a 7 A
Form SB-1A
City of Richmond, Indiana
Taxpayer Wage & Benefit Information
Company Name and Address:
Js,l AJw /1" s7.
IcNMc, b, /AI 473-74
The information requested on this supplement to form 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
$ 11,99
2. Average hourly wage for projected new positions
$ %D. 0?
3. Average hourly health insurance benefit
$ %/F
The length of the abatement you are requesting
(A 1-10 year abatement may be requested for real estate improvements and manufacturing equipment.)
If purchasing equipment, please state the projected useful life.
_7 ;2 Vies. Av6.
If purchasing equipment, please state whether the equipment is new or used.
Al iy
If purchasing used equipment, list the state in which it is being
TEXAS, Msci.tt""
brought into Indiana from.
014lo
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.
Signature and Title)
31,27
(Date)
Committee
Date