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Home My Public Portal About015-2000- TAX ABATEMENT - BENCHMARK GRAPHICS INC - REAL ESTATE.ORDINANCE NO. 15-2000 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: REAL ESTATE - 10 YEARS Benchmark Graphics, Inc. New Jobs: 2 Jobs Retained: 34 Estimated New Value: $150,000.00 Dated: March 13, 2000 Passed and adopted this ]�-- day of 2000, by t ommon Council of the City of Richmond, Indiana. President A , City Clerk ST•4{N4SAroeder) PRESENTED to the Mayor of the City of Richmond, Indiana, this day of A, 2000, at 9:00 a.m. AU City Clerk (Norm Schroeder) A of n Is ?eday Mayor STATEMENT OF BENEFITS State Form 27167 (R5 / 11-95) y� Form SB - 1 is prescribed by the State Board of Tax Commissioners, 1989 FORM SB-1 INSTRUCTIONS. 1. This statement must be submitted to the body designating the economic revitalization area prior to the public hearing if the designating body requires infomation 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 person installs the new manufacturing 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, 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 Sled with the county auditor. With respect to real property, Fomt 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 manufacturing 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 - 1 annually to show compliance with the Statement of Benefits. (lC 6-1.1-12.1-5.6) Name or taxpayer BENCHMARK GRAPHICS, INC. Address of taxpayer (street and number, city, state and ZIP code) 165 INDUSTRIAL PARIMY CIIvIOND IN 47374 Name of contact person Telephone number Y COBB 1(765)935-3999 Name or aeslgnating nosy Resolution number CCMvlON COUNCIL OF THE CITY OF RICHMOND INNDIANA 10-1984;11-1991 Location of property �:YNE ounty Taxing district 165 INDUSTRIAL PARI0aY RIC�MND IN 47374 RICHMOND CORP. Description of real property improvements and 1 or new manufacturing equipment ESTIMATED (use additional sheets if necessary) Start Date Completion Date See attached Real Estate 01/2000 9 01 200 New MfgEquipment / s� `r Q................................. 11 .:4k .. i i(. :A 1 ; `s i�: !i1 1 ��:Itl:�i . , ...�PCI,S i : f l+.#r' ......... :.;;::;:;::::;;::;;:::.;::. Current number 3 Salaries 1,376,60 Number retained Salaries 3 1,376,60 Number additional Salaries 31,20 NOTE: Pursuant to IC 6-1.3-12.1-5.9 d 2 the ::::s:E31:::Eisat.rclyerxelt#::::::::::::::::.::s::s::>::::>::::::>:s:::::::::::::<:=:>:::>:: ::;.: COST of the ro er is co nfidential. ��-�?�0'<��z':�'� Assessed Value Assessed Value Current values 518, 84 Plus estimated values of ro osed project 150, 00 Less values of any propertybeing replaced Net estimated values upon completion of project 668,844 Estimated solid waste converted (pounds) Other benefits: Estimated hazardous waste converted (pounds) > s ? s => z _ ; _'; ='>: <::.>.,:.>;..,.,;.,..: ,._:..;::. .' ' `> ciii s' i': i=' < z #==s=`=s-ss -'. = > =>- ? '.='.=>'. => s s<'.a as AXPA Ta".#�2 1iJQ i11.................................... ... ..........................................:::.:.::::::.::.::.::.:::.: I hereby certify that the representations in this statement are true. Signature of authorized representative Title Date signed (month, day, year I f rorm5z-i, page 'I-Lopyrigmv3aanuecisioninrormationSystems,Inc. 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, provides 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 is limited to $ cost with an assessed value of $ D. The amount of deduction applicable to redevelopment or rehabilitation 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 El10 years The deduction w II be five (5) unless the designating body has by the ten period years resolution specified (1t1) year period. Also we have reviewed orm " . ed in the statement of benefits and find that the estimates and expectations are reasonable and have determined that the ality enefits is sufficient ' stify the deduction described above. Ap ved: (sign # re and of authorized member) Telephone number Date signed (month, day, year) `'-`[ -D'o00 Yle,,b Desi ated body —Ty * If th designating body limits the time period during which an area is an economic revitalization 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) €=i111V iIfli�fFl i #>� ELF' #Jf € :?:.......rye Year of Five (5) Year Ten (10) Year Deduction Percentage Percentage 1 st 100°% 100°% 2nd 95% 95°% 3rd 80°% 90°% 4th 65°% 85% 5th 50°% 80% 6th 70% 7th 55% 8th 40% 9th 30°% 10th 25% I 1I�QFS14~E.....F.Ifl.l. ILIA1 .:.:::.........::.:.:.:...::. MIT ..........:i.. Year of Three (3) Year Six (6) Year Ten (10) Year Deduction Deduction Deduction Deduction 1 St 100°% 100% 100% 2nd 66°% 85°% 95°% 3rd 33°% 66% 80°% 4th 50% 55% 5th 34% 50% 6th 17% 40% 7th 30% 8th 20% 9th 10°% 10th 5°% Form SB-1, page 2 - CopyrightQ 1999 Decision Information Systems, Inc. Attachment to Form SIB-1, page 1, Section 2 Page: 1 Description of Real Property Improvements and/or New Manufacturing Equipment BENCHIV R GRAPHICS, INC. 3000 SQUARE F7CT STEEL VdA=OUSE ADDITION WITH TRUCK DOCK (APPROX. 40 FT X 75 FT.) ; DRIVEWAY IMPROVEMENTS; FENCING. Form SB-1A City of Richmond, Indiana Taxpayer Wage & Benefit Information Company Name and Address: Benchmark Graphics, Inc. 165 Industrial Parkway Richmond, IN 47374 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 $ 11.38 2. Average hourly wage for projected new positions $ 7.50 3. Average hourly health insurance benefit $ 1.14 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. , re and Title) 6-0 (Date) DISPOSTION OF ORDINANCE NO. - 2000 RESOLUTION NO. - 2000 ,, BY Commo n on Council I I I I Ordinance No. /> lElstro lLundv lWissel ISharp lWelch Parker lCombs lDickmanlHutton Resolution No. Date Suspend rules 1st reading -Title only Second Move to 2nd Reac Second Engrossment Second Suspend rule 3rd Reading Second ection DatePassed 5 - L D o COMMITTEE ASSIGNMENTS: Committee Date K: