HomeMy Public PortalAbout035-2001- ABATEMENT - WOODRUFF H.E. CORPORATION - NEW MANUFACTOORDINANCE NO.35-2001
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:
L 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
Woodruff, H.E. Corporation
New Jobs: 5 Jobs Retained: 82
Estimated New Value: $250,000.00
Dated: May 23, 2001
Passed and adopted this ap— day o 2001, by the Common Council of the City
of Richmond, Indiana.
President
(Karl Sharp)
A ST Clerk
(Norma chroeder)
PRESENTED to the Mayor of the City of Richmond, Indiana, this 3� day o ,
2001, at 9:00 a.m.
ft � - &�- — City Clerk
(NorrrA Schroeder)
2
PR VED by me, Shelley D. Miller, Mayor of the City of Richmond, Indiana, this day
of , 2001, at 9:05 a.m.
A
City Clerk
ayor
(Shell D. Miller)
�0,-STATEMENT OF BENEFITS
State Form 27167 (R614-00)
Form SB - 1 is prescribed by the State Board of Tax commissioners, 1989
INSTRUCTIONS:
FORM
.CJB-�
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. (IC 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 BEFOREa deduction maybe approved.
3. To obtain a deduction, From 322 ERA, Real Estate improvements and/or Form 322 ERA /PPME and/or $22 ERA / PPR & DE, must be tiled 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 /PPME and / or $22 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 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 - I annually to show compliance with the Statement
ofBeneffts. (IC6-1.1-12.1-5.5)
5. The schedules established under IC 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 filed an 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.
SECTION•- •
Name of taxpayer
WOODRUFF, H. E. CORPORATION
Address of taxpayer (street and number, city, state, ZIP code)
400 INDUSTRIAL PARKWAY RICHMOND IN 47374
Name of contact person
Telephone number
STEVE SCHROEDER, CORPORATE CONTROLLER
(765)966-7774
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT
Name of designating body
Resolution number
COMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA
10-1984; 11-199
Location of property
County
Taxing district
400 INDUSTRIAL PARKWAY RICHMOND IN 47374
WAYNE
RICHMOND CORP.
Description of real property improvements and I or new manufactumg equipment and 1 or
ESTIMATED
research and development equipment (use additional sheets if necessary)
Start Date Completion Date
WAFIO CNC BENDING AND COILING CENTER, MODEL BM3
Real Estate
WITH AN ESTIMATED USEFUL, LIFE OF 14 YEARS. 10
YEAR ABATEMENT REQUESTED.
New Mfg Equipment
06/18/2001 06/30/2001.
RBDE
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT
Current number Salaries Number retained Salaries Number additional Salaries
82 2,095,130 82 2,160,000 5 100,000
SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT
NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the Real Estate Improvements Machinery Research and Development
COST of the property is confidential. Equipment
Cost Assessed Value Cost Assessed Value Cost Assessed Value
Current values
1,316,594
Plus estimated values of proposed project
250, 000
Less values of any property beng replaced
Net estimate values upon completion of project
1, 566, 594
SECTIONOTHER BENEFITS PROMISED BY THE TAXPAYER
Estimated solid waste converted (pounds) Estimated hazardous waste converted (pounds)
Other benefits:
SECTION•
I hereby certify that the representations in this statement are true.
Signature of authorized representative
Title
Date signed (month, day, year)
16-vru--al C� a��
'�-- y 3 —O /
Form SB-1, page 1 - Copyright 0 2001 Decision Information Systems, Inc.
e have reviewea our prior actions relating to the designation of this economic revitalization area and tinda e 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 yefusebelow). 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; 0 Yes 0 No
2. Installation of new manufacturing equipment: 0 Yes 0 No
3. Installation of new research and development equipment; 0 Yes 0 No
4. Residentially distressed areas 0 Yes 0 No
C. The amount of deduction appicable for redevelopment or rehabilitation is limited to $ cost with an assessed
value of $
D. The amount of deduction appicable to new manufacturing equipment is limited to $ cost with an assessed
value of $
E. The amount of deduction appicable to new reasearch and development equipment is limited to $ cost with
an assessed value of $
F. other limitatinos 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 nd title of authorized member)
Telphone number
Date signed (month, day, year)
C
A ested by:
Designated body
CQ�_� &��L
. "A_IS�, S &L�_� La
* I the designating bod limits the time period during which an area is an economic revitilization area, it does not limit the length of time
a taxpayer is entitied'to receive a deduction to a number of years designated under IC 6-1.1-12.1-4 or 4.5
Form SB-1, page 2 - Copyright Q 2001 Decision Information Systems, Inc.
Form SB-1A
City of Richmond, Indiana
Taxpayer Wage & Benefit Information
Company Name and Address:
Woodruff, H. E. Corporation
400 Industrial Parkway
Richmond, IN 47374
The information requested on this supplement to form SB-1 must be completed and submitted
along with your S13-1 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
$9.36
2. Average hourly wage for projected new positions $8.00
3. Average hourly health insurance benefit
$3.05
The length of the abatement you are requesting 10 years
(A 1-10 year abatement may be requested for real estate improvements and manufacturing equipment)
If purchasing equipment, please state the projected useful life. 14 years
If purchasing equipment, please state whether the equipment is new or used. New
If purchasing equipment, list the state in which it is being
brought into Indiana from. Connecticut
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. pars: 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.
Comae rawd fi'� �3 -O/
(Authorized SigKature and Title) (Date)
DISPOSITION OF ORDINANCE NO. 3 - 2001
RESOLUTION NO.
BY COMMON COUNCIL
Ordinance No. - 20LOL Elstro Lundy Wissel Sharp Welch Parker Combs Dickman Hutton
Resolution No.
Date t) -Gv
-
rules 1 st
Engrossment
Date Passed A2 - R 4 Q I.
- COMMITTEE ASSIGNMENTS
Committe Date