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Home My Public Portal About055-2001- ABATEMENT - VANDOR CORPORATION - NEW MANUFACTURING EQAMENDED ORDINANCE NO.55-2001 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 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 Iaw, 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: NEW MANUFACTURING EQUIPMENT - 10 YEARS Vandor Corporation New Jobs: 8 Jobs Retained: 62 Estimated New Value: $1,763,500.00 Dated: July 9, 2001 Passed and adopted this .` day 2001, by the Common Council of the City of Richmond, Indiana. President (Karl harp) ATTES City Clerk (Norm chroeder) PRESENTED to the Mayor of the City of Richmond, Indiana, this -a� day o , 2001, at 9:00 a.m. h� City Clerk Ta Schroeder) P OV D by rne, Shelley D. Miller, Mayor of the City of Richmond, Indiana, this day 2001, at 9:05 a.m. Mayor (She6y D. Miller) ATTES L, City Clerk 4(Nor�a4 Schroeder) 0 Run r m • r ....... -_-_-__-- Second 3rd reac Second Date Passed ? 9 / COMMI-! i EE ASSIGNMENT S Committee Date `� JUN-26-2001 08:33 FROM BRADY WARE 9- SCHOENFELD E TO 859667677 P.1t2 STATEMENT OF BENEFITS RECEIVED FORM State Form 27197 (IRS 14-DO) SB _ 1 0 5onTl SS - 1 is prescribed by the State Board of Tznc commissioners, 19s9 J U L 2 7 2001 rn SVIVcTlolJsr 1. This statement must be submitted to Iha body daslgnating the it GPnvmic reviUlkation aroa prior io the public hearing if the designating bodyrequirss irilDr- mation from the applrcanr in milking its decision about wmthar to dEslpnate an Economic Re,,italization Area. Oiharwisa this statement must be submided to the designating body SEFORf a person insfaAs the netir manufacturing equipment and/or research and development equipment. Or BEFORE Poe redevelopment or rehabilitation of real property for 4vftll ti22 person wishes to claim a deduction. "Projects" planned or cvnrmitted to afer July 1, 1987 and areas dasignafed after,)u0y 1, 107 regrJire a STATEMENT OF B8NEFl7S. (iC 5-1. I.1Z 1) 2, Approval of the designafing body (City Counclf. Town PSoani, Courrly Cnundl, etc) must ba obtained prior to initiation offhe rpdavolapmew or rel7abllitation, orprrorto lnsMilatlon of the new manufacturing aquipmernt and /or research and development equipment, i3t FOREa dedticflon may Ae approved. 3 To obtain a deduction, From 322 ERA, Real Estate Improvements and / or Form 322 ERA i PPME and /or 322 ERA / PPR & DE, Mast he riled with the county avadar. Lvlfr respect to rural properly, Elms 3= ERA must be filed by the later of (7) May 10; or (2) 010 (W) days after a notice of inctease in real propery essessment is received from the tolv=hip assessor Fonn 322 ERA 1 PPME and J or 322 ERA PPR & DE must be Med between MBrch 1 and May 15 of tits asses :inept year 1n which new rnanV&CtUATg aquipment and/or research sod development equipment becomes asssssabf9, unless a fliing extension has been ❑btainad_ A person who obtains a ffiing extension must fife the form batyrean ivfarrh 1 and June 14 of that year, 4. Pfope/P/owneM whose Statement nf,S9ne t$ was approved after June 3Q 1831 mustsubmif Form CF - i annually to show compliance aviitl the Statement of{3errefrt$. (I�fr1.1-12.1-�8) 5 77TB scrr doles established lrriderlG 6i_ 4-72. 4-4(d) and IG & 1.1-721 4.5 (6)effective July 1, 20W apply to any Statement of benefits filed on of after July 1, 20M. The sche,dukm affective pnor to July 1, 2000 shall continue to apply to those statement ofbenefiis tiiad bales July 1, 2000. SECTION 1 TAXPAYER INFORMATICIN Name Rtaxpayer Vandor Corporation Address of ta;, payer (street and number, city, stale, ZIP code) 1620 Rich Road Richmond IN 47374 Narneolconl=Demon Telephoireuumger 6AII 6&-7617 Cindy Stamper, Controller (765) 966-7676 -..PROJECT Name tit designating body Resolution number Common Council of the CitV of Richmond Indiana 10--1984.11-1991 LOc itiDn of prop" Courrty Taring district 1620 Rich Road Richmond, IN 47374 1 Wayne Richmond Corporation Description;& real properly improvements and / or new manufactumg equipment and I or ESTUATED research and development equipment (use addltlonal sheets if necessary) Start bate complEtlon Date See attached Real Estate, New Mfg Equipment 6/15/2001 6/15/2002 =R& ! EMPLOYEESSECTION' ESTIMATE OF s SALARIES AS RESULT OF PROPOSenPROJECT Curm Mt number Salarfe.S Number retained Salaries Num4er additional Salaries 62 1,738,080 1 62 1,738,080 1 8 141,440 i VALUE OF ^r• r PROJECT NOTE: Pursuant to IC 8-1,1-12.1-5.1 (d) (2) the Meal F5tste Improvements Mach-Inery Rgseairch and Dgvalepm4nt Equipment COST of the property is ❑onfidential. cost Assessed Value Cost Assossod Value Cast Assessed Value Current Valt,tes Plus estimaWd values pfprmpcsed prpjept 1,850,000 Less ualues!of any property beng replaced Netealmate values upon compretlon of project CONVERTED AND •PR6MISEDBY THE TAXPAYER Estimated solid waste converted (pounds) Es,imatedhazardous wasteconverted (pounds}. . Other Benefits: R - herby ceNry that the representati66s in hiss#a trots#are rue. ignaturm a auilwizad represan , a Titie Date signed (moat day, year) C U`��b9 Cal Fgrm SS-1, page 1 - Copyright S 2C01 Decision rnrormeGon 3ysteme. Inc. 06-26-01 93:25 TO:VANDOR CORP FROM: IWIK JUN- t;- 001 08 : 33 FROM BRADY WARE & SCHOENFELD I TO 8596E 7 , 6?7 P. C13 e- Me reviewed our pri0ractiOns re a Ing to Ine designation oftnis economic revs a Ixa Ion area and finda e appJica'n1 meets Me general standards adopted in the resolution previously approved by this body. Said resolution, passed under IC Cr1.1-12.1-2.5. prrr 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(aae below). The date this � designation expires is S. The type of deduction that is allowed in the designated area is limited to: 1. Redevelopment or rehabilitation of real estate improvements: 0 Yes 10 No 2. Installation of new manufacturing equipment: d Yes 13 No 110stallabon 0f new research and development equipment; 0 Yes lv No 4. Residentially distressed areas 0 Yes 0 No C. The amount of deduction appioal)le for redevelopment or rehabilitation is limited to $ cost with an assessed value of $ D_ -fhb amount of deduction appicable to new manActuring equipment is limited to $ cost with an assessed value of $ E. The amount of deduction appicable to new reaeearch and development equipment is limited to $ cost with an assessed value of $ F. other fthatinos or conditions (specify) Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reaSon- We and have determined that the totalily of benefits is sufficient to justify the deduction described above. Approved: VnaKe and title or authonzetr membor) Telphone number Date signed fmonth, dsy, yeer) Attested by- Designated body " If the designating: body limits the time period during which an area is an economic rovi ilization area, it does not limit the length of time a taxpayer is sntitled to receive a deduction to a number of years designated under IC e-1.1-12.1-4 or 4.5 Form SOA, page 2-Capyngnl02001 Deciaion Irffarmation Systems, Inc. 06-26-61 09:26 TO:VANDOR CORP FROM: P03 JLL-27-01 06=46 FROM=CIT'Y OF RICHMOND FINANCE ID=I 765 983 7212 PACE Form SE-1A City of Pjawaond, badiaraa. Taxpayer Wage & Benefit formation Company Name and Address: The idonuation requested on this supplement to form SB-1 must -be =npleted and submitted along with your SE-1 in order for your tam abatement request to be considered by Richmond Common Council. Please retain your records and calculations used to arrive. at the i Dforr ation requested on dais form. It is subject to review as a part of our monitoring process. 1. Average hourly war for existing employees S 0as 2, Average hourly wage for projected new positions �a 3. Average hourly health msurmcr_ benefit The length of the abatement you are requesting (A 1-1 D year abatement maybe requested far ree e =e equipme-t.) if pwchasiug equipment, please state the projected useful &e. /5 - if purchasiDZ equipment, please state whether the egllipuaeat is uew or used. &—t -If purchasing used eVipmeet, list the state in which it is being brought into ludina from. k ` /'�•` UFFMTION 1_ .A,vemp hourly wage for existing employees: for your most res t pay period please pxovid the a-,,e-age base wage per hour for all cunent full time, II011-superrvisory employees. Do not include the foIlowing groups: A. part time employes; B,management, supervisors, foremen, or any other supervisory personnel', C. owners, stockholders, or parme rs if they own 29c' or more Of the business, and their family members_ 2. A.vfrage hourly wagi!,,fiDr projected -new positions: Ilse the same definition of employees to be included as in number one above. 3. Average hourly health insurance bewfit: 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 a.nmal cost per tligible employee divided by 2090 homs. 7 4 7, L,1 sipaWre nd Title) (Date) 07-27-91 98:44 TO:VANDOR CORP FROM:17659837212 PS Attachment to Form SB-1, page 1, Section 2 Page: 1 Description of Real Property Improvements and/or New Manufacturing Equipment VANDOR CORPORATION MANUFACTURING EQUIPMENT, COOLING TOWER UPGRADE, VC PRESS RELOCATION COSTS, PLANT EQUIPMENT PIPING, INJECTION MOLDING MACHINES AND EQUIPMENT TOOLING. TOTAL ANTICIPATED COSTS = $1,850,000. 10 YEAR ABATEMENT REQUESTED.