HomeMy Public PortalAbout076-2000- TAX ABATEMENT - AHAUS TOOL & ENGINEERING INC LEASINGORDINANCE NO.76-2000
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 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 & Engineering, Inc.
New Jobs: 01 Jobs Retained: 135
Estimated New Value: $225,000.00
Dated: September 22, 2000
Passed and adopted this da o 2000, by the Common Council of the City
of Richmond, Indiana.
resident
La Parker)
A ST City Clerk
(No a Schroeder)
PRESENTED to the Mayor of the City of Richmond, Indiana, this day
2000, at 9:00 a.m.
City Clerk
(Norm4 Schroeder)
c,
*PROVEby me, Shelley D. Miller, Mayor of the City of Richmond, Indiana, this day
2000, at 9:05 a.m.
��Iayor
elley D. Miller)
A S City Clerk
(No a Schroeder)
STATEMENT OF BENEFITS
d
{� State Form 27167 (R614-00)
+� Form SB - 1 is prescribed by the State Board of Tax Commissioners, 1989
—�TRUCTIONS:
RECEIVED
SEP 2 2000
-FORM
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 Revitalization Area. Otherwise this statement must be submitted
to the designating body BEFORE a person installs the new manufacturing'equipment and / or research and development 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_ (lC 6-1.1-12.1)
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 and / or research and development equipment, BEFORE a deduction may be approved
To obtain a deduction, Form 322 ERA, Real Estate Improvements and / or Form 322 ERA/ PPME and/or 322 ERA / PPR & DE, must be filed with the county
auditor. With respect to real property, Farm 322 ERA must be filed by the later of (1) May I G; or (2) thirty (30) days after a notice of increase in real property
assessment is received from the township assessor. Form 322 ERA / PPME and/or 322 ERA PPR & DE must be filed between March 1 and May 15 of the
assessment year in which new manufacturing equipment and / or research and development 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.
Property owners whose Statement of Benefits was approved after June 30, 1991 must submit For CF - 1 annually to show compliance with the Statement
of Benefits. (IC S 1..i-i2.1-5.6J
The schedules established under IC 6-1.1-12.1-4(d) and IC 6-1.1-12.1-4.5 (e) effective July 1, 2000 apply to any statement of benefits filed on or after
July 1, 2000_ :-,
The schedules effective prior to July 1, 2000 shall continue to apply to those statement of benefits filed before July 1, 2000.
SECTION I TAXPAYER INFORMATION,
e of taxpayer
�1
1 t7VL� Q 1 j
j
Address of taxpayer (street and numb64 city, state an P code)
aoo S fl q
N e of contact person
�, �SLOCATION
Telephone number
SECTION 2 AND DESCRIPTION OF PROPOSED PROJECT -
Na of designating body
�n o ; L
Resolution number
ID-19914 lqql
Location of property
aoc� k- Pa
County
Taxing district
i
.cription of real property improvements and 1 or new manufa ing equipment and I or
research and development equipment (use additional sheets if necessary)
C.�AQMt Lies 1 CC��OL1eS �� �e l= U
ESTIMATED
Start Date
Completion Date
Real Estate
iaC�tt��
New Mfg Equipment
l D DD0
l O r100 1
of
R & DE
Current number Salaries Number retained Salaries
oD OCo 5 o D Oo
Number additional Salaries
5 000
SECTION 4 ESTIMATED
TOTAL COST AND VALUE OF PROPOSED
PR.
NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the
COST of the property is confidential.
Real Estate Improvements
Machinery Research and Development
Equipment
Cost
Assessed Value
Cost
Assessed Value Cost
Assessed Value
Current values
Plus estimated values of proposed project
Less values of any property being replaced
Net estimated values upon completion of project
SECTION• s AND OTHER BENEFITS PROMISED
Estimated solid waste converted (pounds) Estimated hazardous waste converted (pounds)
Other benefits:
'OFECTION 6 TAXPAYER CERTIFICATION
I he eb certi that the re resentations in this statement are true.
Signature at ed re se tative
Ti
Date signed (month, day, year)
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.
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;
2. Installation of new manufacturing equipment;
3. Installation of new research and development equipment;
4. Residentially distressed areas
calendar years * (see below). The date this
❑ Yes
❑ No
❑ Yes
❑ No
❑ Yes
❑ No
❑ Yes
❑ No
C .The amount of deduction applicable for redevelopment or rehabilitation is limited to
value of $ "
D .The amount of f deduction applicable to new manufacturing equipment is limited to $
value of $-e
E. The amount of deduction applicable to. new research and development equipment is limited to $
an assessed value of $
F. ' Other limitations or conditions (specifv)
cost with an assessed
cost with an assessed
cost with
Also we have reviewed -the information contained in the statement of benefits and find that the estimates and expectations are reason-
able and have determj6ael4hat the totality of benefits is sufficient to justify the deduction described above.
of authorized member) Telephone number Date signed (month, day, year)
o
Designated body
" lf♦the designating b�dy limits the time period during which an area is an economic revitiization 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
Form SB-1A
City of Richmond, Indiana
Taxpayer Wage & Benefit Information
RECEIVED
Company Name and Address: S R
r�EP ��} v L�w ll0
Ahaus Tool & Engineering, Inc.
Leasing Equipment from National City Bank of Indiana
200 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 $ 13.00
2. Average hourly wage for projected new positions $ 15.00
3. Average hourly health insurance benefit $ 3.00
The length of the abatement you are requesting 10 years
(A 1-10 year abatement may be requested for real estate improvements and manufacturing equipment.)
If purchasing equipment, please state the projected useful life. 20 years
If purchasing equipment, please state whether the equipment is new or used. New
If purchasing equipment, list the state in which it is being
brought into Indiana from. Wheelin IL
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 Sign
?-Z2 -aO
(Date)
Date Passed t' �O ' d d
COMMITTEE ASSIGNMENTS
Committee Date