HomeMy Public PortalAbout054-2001- ABATEMENT - FHS PARTNER LLC - REAL ESTATEORDINANCE NO.54-2001
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:
REAL ESTATE - 10 YEARS
FHS Partners, LLC
New Jobs: 5 Jobs Retained: 82
Estimated New Value: $1,834,000.00
Dated: July 23, 2001
Passed and adopted this day o 2001, by the Common Council of the City
of Richmond, Indiana.
President
(Karl Sharp)
A S City Clerk
(Norm Schroeder)
PRESENTED to the Mayor of the City of Richmond, Indiana, this D day of ,
2001, at 9:00 a.m.
6��
City Clerk
(Norma Scbroeder) g,
tROVED by meShelley D. Miller, Mayor of the City of Richmond, Indiana, this 1 day
, 2001, at 9:05 a.m.
)-�a or
(Sheoy D. Miller)
A , City Clerk
(No a Schroeder)
�' STATEMENT OF BENEFITS
! Stale Fors ZM 67 (fi4 / 104M
Farm S8.1 Is pnesaibetl by the State S=d Of Tax CaM-n=UMnms.1939
sM
)7RUC770NS.'
This statement must be submitted to the body designating the economic nevi anew area for to the pubfic hwing if the deskMadnq body requires in -
mason from the applicam in making its deasion about whether to designate an Econamra Revitiliradon Area Otherwise dris statement must be submit
of
to the designating body BEFORE a person installs the new manufacturing equipment: or AEFOAE the redav�elopmsnt of rahabllitatioth ly real property
which the person wishes to Crean a deduction. A statement of benefits is not required if the area was designated an F.AR � to July I, I98T and
pmjec r was planned and committed to by the applicant and approved by the designating body, prior to that data. *Pmjects' planned or committed to a.
July 1, 1987and areasdesignated afterJuly 1, 1987requireaSTATEMENT0F89NE1F-7M (lC6-I.1-121) lY1s� eM or �
Approval of the designating body (Cr7y Count. Tow►► Board Cournv in
Count4 Aft) must obtained pdwto itiationof
or prior to installation of the new manufacturing equipment: ZEFOREa aeouction maybe approved
To obtain a deduction, Form = FAA. RPaI Estate Improvements and/ or Farm 322 ERA / PP, New Machinery, must be fried with the county auditor. V
respect to real property, Form 322 ERA must be filed by the later of. (1) May 10; or (2) tl h y (30) days after a notice of increase in real property asseurr
is received from the tawnshrp assessor. Form M ERA / PP must be fried between March 1 and May 15 of the assessment year in which new Mane:
tuning equipment becomes assessable. unless a 017g extension has been obtained A person wire obtains a Nng extension must f7e the form berw'
March 1 and June 14 of that year.
Property owners whose Statement of Benefice was approved afterJWy 1, 1991 must submit farm CF- I annually to show compliance with the Statemnr
Benefits (IC !rI.7-121-5 6)
SEMI Nil- TAXPAV,17i ILIFOHMAIJUL
true at taxpayer
FHS Partners, L.L.C.
jaress at taxpayer (streer and number, cdiy, state and ZIP cads)
1010 South A Street, Richmond IN 47374
3nie of contact person
Jeff Hanna
ame at designing body
Common Council City of Richmond, IN
>=onotproperry 400 Industrial Parkway, Richmond T
esawdon of real property improvements and / or new manufacturing equipment to be
fee if
Wayne
n)60,000 Sq. Ft. pre --engineered steel building, 25'
eaves, 4 loading docks, dry sprinkled and an
additional 7500 Sq. Ft. office space.
,utrent 8u moer
5,130
NOTE: Pursuant to fC 8-1.142.1-5.1 (d) (2) the
COST of the property is carddential.
Curremvalues Land
Plus estimated values of proposed pra;ec
Less values of any property being reptw
Net estimated values upon t=etion at
retained =Wes
82 1 '2,160,000
mom
none number
65 1966-7653
nd Corp.
sated start" date
1st_, reques
6-1-99 w=r - ' mna=
rated wntpleban data
8--15-01
r addi ionat IsManaft
5 V 00, 000
Agassawl VWuc
SECTION 5 OTHER BENEFrM PROMISED BY THE TAXPAYER I
This facility is going to be leased to Woodruff Corp. for 10 years,
triple net, with additional options to renew. -
Signature of
dfons in ttns statemnt eare true
AlTitle Date sad (fir• G3'. yea"
Member 7-23-01
e have reviewed our prior actions re a ing to the designalion ot this economic revitalization area and tinda 1e applicant mee s e
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 ye(aed 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; 13 Yes 0 No
2. Installation of new manufacturing equipment: 4 Yes 13 No
3. installation of new research and development equipment; o Yes 13 No
4. Residentially distressed areas o Yes 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 applicable to new reasearch and development equipment is limited to $ cost with
an assessed value of $
F. other limitatinns 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: (signatur and title of authorized member)
Telphone number
Date signed (month, day, year)
� � $ - q � �
--7,o_01
Attested by:
Designated body
* If t e 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 entitled to receive a deduction to a number of years designated under IC 6-1.1-12.1-4 or 4.5
Farm Sn-1, page 2 - Copyrrght C 2001 neasron inforrnalron 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 SBA 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
$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. 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.
(Authorized Sig`hature and Title) (Date)
DISPOSITION OF ORDINANCE NO. - 2001
RESOLUTION NO.
BY COMMON COUNCIL
Ordinance No. - 20001 Elstro Lundy Wissel Sharp Welch Parker Combs Dickman Hutton
Resolution No.
Date
end rules 1 st
Moved to
Second
3rd readin
i Passage I v I I G--- I C—�l .---I t-.Jh — I �I
Date Passed
COMMITTEE ASSIGNMENTS
Committee Date