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Home My Public Portal About008-2000-TAX ABATEMENT - SPARTECH PLASTICS - NEW MANUFACTORINGORDINANCE NO.5-2000 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 Spartech Plastics New Jobs: 0 Jobs Retained: 123 Estimated New Value: $395,000.00 Dated: January 24, 2000 Passed and adopted this day of 2000, by the Common Council of the City of Richmond, Indiana. V ATT City Clerk (No Schroeder) PRESENTED to the Mayor of the City of Richmond, Indiana, this I &day o WI-1 2000, at 9:00 a.m. C�C �' sc, City Clerk (Nor a Schroeder) PR VED by me, Dennis Andrews, Mayor of the City of Richmond, o , 2000, at 9:05 a.m. v ATT bA�City Clerk Schroeder) r this LL ay Mayor 05rCOMPLIANCE WITH STATEMENT OF BENEFITS �}nn�qstate Form 44973 (11-91)BAN 2 6 Gl1UOPrescribed by the State Board of Tax Commissioners, 1991 The recw ds in ".:s series are CdNFIDEN-nAL according to IC 6.1.1 35-9. INSTRUCTIONS: i. Property owners whose Statement of Benefits was approved after July 1, i997 must file this form with the County Auditor and tt Local Designating Body to show the extent to which there has been compliance with the Statement of Benefits. (this does not apply . orm property located -n a res�denfially distressed areaj. (IC 6-i.1-i2 7-5.6) 2. If the deduction applies to Aeal lcsiate and Improvements, then this form must be filed with the initial deduction application and thf annually within sixty (6D) days after the end of each year in wwithich the deduction is applicable. 3. a fling ex earrsioraiunrin C 6r0f 1 , 7! as men �rarited. Ape hn who obbttWns 322 � filing between extension stifle bet May Mfarech 1 ach year : of each year. SECTIONINFORMATION Name of taxpayer Spartech Plastics Address of taxpayer (street and number, city, state and ZIPcode) 4815 Woodside Drive Richmond, IN 47374 Name of contact person Telephone number Vickie Capps (765 ) 935-7541 ne of designating body Common Council City o ation of property 4815 Woodside Drive Richmo Description of real property improvements and/or new Maintenance of existing equipment Current number of employees Salaries Number of employees retained Salaries Number of additional emptayee Salaries values before project Plus: Values of proposed p Less: Values of any proper Net values upon completion Values before project Pius: Values of propos Less: Values of any pr, Net values upon compt to be Resolution number 10--1984-11-1991 Taxing district R i c bm and _ Car}Z` Estimated starting date Estimated completion date n„t- — nn 123 3,739221"_ ., 123 `:3' 739 , 221 3,832,702 123 3.832,702 Cost Assessed Value i Cost Assessed Value roject Ey being replaced i of project Cost Assessed Value Cost Assessed Value roject 395,000 ty being replaced i of oroiect 395.000 I herebv certifv that the :ure ofLauthonZ9 representative in this statement are true. signed (mo., STATEMENT.OF BENEFITS 10 year abatement request FORM State Form 27167 (R31 11-91) SB Form SB -1 is prescribed by the State Board of Tax Commissioners, 19B9 *'+ MIS The records in this series are CONFIDENTIAL according to IC 6-1.1-35-9 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 Revitilization 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. A statement of benefits is not required if the area was designated an ERA prior to July 1, 1987 and the project" was planned and committed to by the applicant, and approved by the designating body, prior to that date. 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, 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 is installed, unless a filing extension has been obtained. A person who obtains a filing extension must file the form between March f ano June 14 of that year. 4. Property owners whose Statement of Benefits was approved after July 1, 1991 must submit Form CF - 1 annually to show compliance with the Statement of Benefits. (IC 6-1.1-12.1-5.6) Name of taxpayer Spartech Plastics Address of taxpayer {street and number, city, state and ZIP code) 4815 Woodside Drive Richmond, IN 47374 Name of contact person Telephone number Vickie Capps 1 1 (%5 ) g35-754 Name of designating body Resolution number Common Council City of Richmond 10-1984-11--1991 Location of property County Taxing district 4815 Woodside Drive Wayne Richmond Corp. Description of real property improvements and / or new manufacturing equipment to be acquired (use additional Estimated starting date sheets if necessary) .tan - 00 Maintenance. of existing equipment Estimated completion date E E Oct - 00 SECTION 4 ESTIMATED TOTAL COST AND VALUE Real Estate Improvements Cost OF PROPOSED PROJECT Machinery Assessed Value Cost Assessed Value Current values Plus estimated values of proposed project 395,000 Less values of any property being replaced Net estimated values upon completion of project 395,000 I hereby certify that the representations in this statement are true. Signature of authorized repre�se�nntt�ative Title Hate signed (month, day, year) � `�` n.� COMPLIANCE WITH STATEMENT OF BENEFITS ECO2M State Form 44973 (11-91) F r. Prescribed by the State Board ofTax Commissioners,199i :ass 'F The records in Lh's series are CONFIDOMALa=rding to IC 6-1.1-35-9. INSTRUCTIONS: 1. property owners whose Statement of Benefits was approved after July 1, 1991 must file this form with the County Auditor and tl local Designating Body to show the extent to which there has beencompliance with the Statement of Benefits. (This does not apply property located in a residentially distressed area). (!C e-1.1-121-5.6) 2. If the deduction applies to Real Estate and Improvements, then this form must be riled with the initial deduction application and the annually within sixty (60) days after the end of each year in which the deduction is applicable. 3. a ling extension unde nng Equipment, 1 1-3 7hals form s been granted. be A person d with who obbttains a filing extensioERAJPP between n must Me betwI and een n Marc15 of h 1 ch and Junee of each year. ne of taxpayer . Spartech Plastics Tess of .taxpayer {street and number, city, state 4815 Woodside Drive Richmond, IN 47373 roe of contact person Vickie Capps Name of designating body Common Council City of Richmond Location of property 4815 Woodside Drive Richmond, IN 47374 Description of real property improvements and/or new manufacturing See attached listing Current number of employees Salaries Number of employees retained Salaries Number of additional employee Values before pi Plus. Values . of Less: Values of Net values upon Values before p Plus: Values of Less: Values of Net values upor Of Of fo be acquired Cost Assessed Value r„cr Assessed Value Telephone .number ( ir,5 )9 Resolution -number Taxing district Richmond Cgyp- Estimated starting date Ian. 2000 Estimated completion date Oct. 2000 121 121 +,098,000 4,098,000 121 121 V,098,.000 44098,000 Cost Assessed Value Cost Assessed Value STATEMENT OF BENEFITS = State Form 27167 (R4110.93) Form S8 - t is prescribed by the State Board of Tax Commissioners, 1989 +eta FORM 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 Revitilization 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. A statement of benefits is not required if the area was designated an ERA prior to July 1, 1987 and the project" was planned and committed to by the applicant, and approved by the designating body, prior to that date. "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 BEFORE a deduction may be approved. S. To obtain a deduction, Form 222 ERA, Real Estate Improvements and / or Form 322 ERA / PP, New Machinery, must be filed with the county auditor. With respell to real property, Farm 322 ERA must be fried by the later of: {1) May #0; or (2) thirty (3t)) days after a notice of increase in real property assessment is received from the township assessor. Form 322 ERA / PP must be fried between March i and May 15 of the assessment year in which new manufac taring equipment becomes assessable, unless a tiling 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 July f, 1991 must submit Form CF - i annually to show compliance with the Statement of Benefits. (IC 6-1.1-12.1-5.6) Name of taxpayer S artech Plastics Address of taxpayer (street and number, city, state and ,ZIP code) 4815 Woodside Drive Richmond, IN 47374 Name ot contact person Telephone number Vickie Capps I (765 )935-7541 SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of designating body Resolution number Common Council City of Richmond 10-1984-11-1991 Location of property County Taxing district 4815 Woodside Drive Richmond,IN 47374 1 Wayne Richmond Corp. Description of real property improvements and I or new manufacturing equipment to be acquired (use additional Estimated starting date sheets if necessary) Jan . 00 See attached listing Estimated completion date Oct. 00 SECTIONOF • OF -••• r PROJECT Current number Salaries Number retained Salaries Number additional Salaries 121 4,098,000 121 4,098,000 J SECTION• • AND VALUE OF ' • ' • PROJECT NOTE: Pursuant to iC fi-1.1-12.1-s.t (d} (2} theReal Estate Improvements COST of the property is confidential. Assessed Value CSt Assessed Value Current values Plus estimated values of proposed project 383,000 Less values of any property being replaced Net estimated values upon completion of project 383,000 SECTION • i hereby certify that the re resentations in this statement are true. Signature of authorized representative Titlesn [/ Date signed (month, day, year) 7 - ( 7 - p Spartech Plastics Capital Expenditure Plan Year 2000 Rebuild and Rehab. To Extruder Line #1 Co -ex Installation $ 3,000.00 Total line 1 3,000.00 Rebuild and Rehab. To Extruder Line #3 6" 32:1 HPM Feedscrew 14,000.00 Haircell Roll 15,000.00 Drive Motor 12,000.00 Co -ex Installation 15,000.00 Winder Shafts & Chucks 3,000.00 Total tine 3 59,000.00 Rebuild and Rehab. To Extruder Line #4 Roll Face 5,000.00 6" Extruder Installation 227,000.00 Blending System 17,000.00 Total line 4 249,000.00 Rebuild and Rehab. To Extruder Line #6 66" Film Die 12,000.00 Extruder Screw 7,000.00 Total line 6 19,000.00 Rebuild and Rehab. To Extruder Line #7 Drive Motor 8,000.00 Down stream 15,000.00 Roll 3,000.00 Chiller 27,000.00 Total line 7 53,000.00 Total Capital Expenditure Plan Year 2000 383,000.00 Years 5 5 5 5 5 5 5 10 10 5 5 5 5 5 10 Spartech Plastics Capital Expenditure Plan Year 2000 10 Year Abatement Requested for Machinery Rebuild (2) extruder drive motors $ 15,000.00 Resurface (2) dies 30,000.00 Resurface two chill rolls 25,000.00 Rebuild screws 15,000.00 Line #7 down stream improvements 35,000.00 New screw for line #2 20,000.00 Complete rebuild of 6" sterling extruder line #4 165,000.00 Installation of co -ex on line #3 40,000.00 Maguire blenders 50,000.00 $ 395,000.00 DISPOSTION OF ORDINANCE NO. - 2000 RESOLUTIO NO. - 2000 BY Common Council Ordinance No. 3 Elstro Lundy Wissel Sharp Welch Parker Combs Dickman Hutton Resolution No. Date - Suspend rules 1st reading -Title only Second Move to 2nd Readin Second ru Second ection DatePassed J' 1 7 ✓ d D COMMITTEE ASSIGNMENTS: Committee Date