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Home My Public Portal About025-2000- TAX ABATEMENT - AHAUS TOOL & ENGINEERING INC - NEW MAAMENDED ORDINANCE NO.25-2000 A SPECIAL ORDINANCE AUTHORIZING THE APPROVAL OF A STATEMENT OF BENEFITS FOR A PROPERTY OWNER APPLYING FOR DEDUCTIONS UNDER I.C. 6-1.X-] 2.1 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 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, 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 Ahaus Tool and Engineering, Inc. New Jobs: 2 Jobs Retained: 135 Estimated New Value: $660,000.00 Dated: April 13, 2000 Passed and adopted this day of A P) 2( 2000, by the Common Council of the City OVED by me, Dennis Andrews, Mayor of the City of Richmond, In ' , this C day o , 2000, at 9:05 a.m. A City Clerk (Dennis STATEMENT OF BENEFITS State Form 27167 (R5 r 11-95) 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 requiresinfomation 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, 1967 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 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 most submit Form CF - 1 annually to show compliance with the Statement of Benefits. (lC 6-1.1-12.1-5.6) Name of taxpayer AHAUS TOOL & ENUINEERING, INC. Address of taxpayer (street and number, city, state and ZIP code) 200 INDUSTRIAL PARKWAY ICHMOND IN 47374 Name of contact person Telephone number ICK ARAUS OR BOB COVING" N 1(765) 962-3571 Name of designating body Resolution number N COUNCIL OF THE CITY OF RICHMOND, INDIANA 110-1984;11-1991 200 INDUSTRIAL PARKWAY Description of real property improver (use additional sheets if necessary) attached RICHMOND IN 47374 Its and I or new manufacturing equipme ICHMOND CORP. ESTIMATED Start Date Completion Da Real Estate / / / / New Mfg Equipment /21/2000 5/31/20 :. -Y—M ikNO]: s�kf�ARI 9A8 At:�tF50 � f�F#��?C�!?�S�I�:�F� ��'f........................::> ...:.... . Current number 13 Salaries 5,934,09 Number retained Salaries 13 5,934,09 Number additional Salaries 75,00 NOTE: Pursuant to IC 6-1.1 12.1 5.1 d 2 the s:' :'R'jiA Egta€ea suit e i �Aa ne, fs. - COST of the property is confidential.gT: Assessed Value#iS Assessed Value Current values 3,525,854 Plus estimated values of proposed pr2LELct 660,00 Less values of any property being replaced Net estimated values upon completion of project 4,185, 85 Estimated solid waste converted (pounds) Other benefits: Estimated hazardous waste converted (pounds) :. ! hereby certify that the representations in this statement are true. Signatur of authorized represents qve Title Date signed (month, day, year f Form SB-1, page 1 - Copyright ® 2000 Decision Informartion Systems, 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 N 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 $ 0. 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 F10 years The deduction period will be five (5) years unless the designating body has by resolution specified the ten (10) year period. Also we have reviewed the ' arm Ion contain the statement of benefits and find that the estimates and expectations are reasonable and have determined that the tot of ben fits is sufficient to ustify the deduction described above. Appro d: auorized member Telephone number Date signed (month, day, year) ;atur�andfitfe Des aced body Vted " If A 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) .............................................................................................................. ....................................................................... Yearof 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% ......,... ........................................................................ Sf...... C3£ ':#3 %lh# Il.l'f arl i lON. .... ..... ............................. .... .......:. ' , €3F;:RE PRDPE 7YlMFRi � M ..-.-.iS?1F..��!�1:.t►t�!C3S>t!4.M._.. awed t7v r cE t3 ....: .. .--� d �e�4� iF ....... .... ...: :..,:- Year of Three (3) Year Six (6) Year Ten (10) Year Deduction Deduction Deduction Deduction 1 st 1000% 100°% 100°% 2nd 66°% 85% 95% 3rd 33°% 66% 80% 4th 50% 65% 5th 34% 50% 6th 17% 40% 7th 30% 8th 20°% 9th 10°% 10th 5% Form SB-1, page 2 - Copyright 0 2000 Decision Information Systems, Inc. Attachment to Form SE-1, page 1, Section 2 Page: 1 Description of Real Property Improvements and/or New Manufacturing Equipment AHAUS TOOL & ENGINEERING, INC. DUUNO MACHINING CENTERS (FNC 2010 AND MCB 1210) AND OTHER, MILLING MACEINERY WITH ESTDIATED USEFUL LIVES OF APPROXIMATELY 20 YEARS. Form SB-1A City of Richmond, Indiana Taxpayer Wage & Benefit Information Company Name and Address: Ahaus Tool & Engineering, Inc. 200 Industrial Parkway Richmond, IN 47374 The information requested on this supplement to form S13-1 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 $ 13.00 2. Average hourly wage for projected new positions $ 15.00 3. Average hourly health insurance benefit $ 3.00 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 Signatu and itle) (Date) DISPOSITION OF ORDINANCE NO. - 2000 BY COMMON COUNCIL Ordinance No. - 2000 Elstra I Lundy Wissel Sharp I Welch Parker I Combs Dickman Hutton Al Date Suspend rules 1st readi. Second Moved to Second Readi Second Engrossment Second 3rd reading Second Re Date Passed S r [ COMMITTEE ASSIGNMENTS Committee Date