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HomeMy Public PortalAbout012-2000- TAX ABATEMENT - PURINA MILLS INC - NEW MANUFACTORINGORDINANCE NO. 12-2000 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, T.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 Purina Mills, Inc. New Jobs: 0 Jobs Retained: 4 Estimated New Value: $300,000.00 Dated: February 10, 2000 Passed and adopted this day of of Richmond, Indiana. ATTEST: , City Clerk (Norma Schroeder) REAL ESTATE - 10 YEARS Purina Mills, Inc. New Jobs: 0 Jobs Retained: 4 Estimated New Value: $50,000.00 Dated: February 10, 2000 2000, by the Common Council of the City , President (Larry Parker) PRESENTED to the Mayor of the City of Richmond, Indiana, this day of , 2000, at 9:00 a.m. , City Clerk (Norma Schroeder) APPROVED by me, Dennis Andrews, Mayor of the City of Richmond, Indiana, this day of , 2000, at 9:05 a.m. , Mayor (Dennis Andrews) ATTEST: , City Clerk (Norma Schroeder) STATEMENT OF BENEFITS RECE ED FORM - State Form 27167 (R3 f 11-91) +� Form SB - 1 is prescribed by the State Board of Tax Commissioners, 1989 , , - The records in this series are CONFIDENTIAL according to IC 6-1.1-35-9- �aa 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 1 and 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) SECTION•- • Name of taxpayer _ C1 Address of taxpayer (street and number, city, state and ZIP code) t (© VAo n I,v-2cL, S+• LoQls, rmeof contact person Telephone number �e r� J (31 ) -7&Y- SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of designating body Resolution number Location of prop � ` County Taxinsc C hwni Description of real property4mprovements and / or new manufacturing equipment to be acquired if (use Additional Estimated starting date sheets necessary) N eW ll 00 m ei1t 1`-'06lo0p 31"0 Q pgfaciy��S I1�oc� ti "�i ar► $ tL MD) DO p Estimated completi n date lC C4� Vl PC ),Co LQS !� 1 > >�drl c� - li l S J��i �� b / 2 .�� v SECTION• I hereby certi that the representations in this statement are true. Sign r of author d repr sentative Title Date signed (month, day, year) I— I � We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the 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 years (see 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; ❑ Yes ❑ No 2. Installation of new manufacturing equipment; ❑ Yes ❑ No 3. Residentially distressed areas ❑ Yes []No C. The amount of deduction applicable for new manufacturing equipment installed and first claimed eligible for deduction after ,July 1, 1987, is limited to $ cost with an assessed value of $ D. The amount of deduction applicable to redevelopment or rehabilitation in an area designated after September 1, 1988 is limited to $ cost with an assessed value of $ E. Other limitations or conditions (specify) F. The deduction for new manufacturing equipment installed and first claimed eligible for deduction after July 1, 1991 is allowed for: ❑ 5 years ❑ 10 years 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 and title of authorized member) Telephone number Date signed (month, day, year) Attested by: Designated body * If the designating body 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 Namely: (see tables below) REDEVELOPMENTOR REHABILITATION OF REAL PROPERTY IMPROVEMENT •^• a • -• • os • Year of Three (3) Year Six (6) Year Deduction Deduction Deduction Ten (10) Year Deduction 1st 100% 100% 100% 2nd 66% 85% 95% 3rd 33% 66% 80% 4th 50% 65% 5th 340% 50% 6th 17% 40% 7th 30% Sth 20% 9th 10% 10th 5% BOMEFOAMS• SYSTEMS i-w-s8um iW C-Mta= 4/4 Form SB-IA City of Richmond, Indiana Taxpayer Wage & Benefit Information Compmy Name and Address: 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 $ 2. Average hourly wage for projected new positions $ 3. Average hourly health insurance benefit The length of the abatement you are requesting (A 3, 6 or 10 year abatement can be requested for real estate and a 5 or 10 year abatement can b-, requested for manufacturing.) DMNITIONS 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 cornputed using the annual c" per eAgilNe employee divided by 2080 hours. (Authorized Signature and Title) (Date) FEB 04 '00 14=28 17659837212 PAGE.04 -' • • , __--�---_ sit ---- _--- RTURMFU DatePassed COMMITTEE ASSIGNMENTS: Committee Date