HomeMy Public PortalAbout05-2017 - CROWN EQUIPMENT TAX DEDUCTION r
RESOLUTION NO. 2017 - 5
A RESOLUTION REAFFIRMING RESOLUTION 2017 - 4 AND DECLARING AN
ECONOMIC REVITALIZATION AREA AND RECOMMENDED TAX DEDUCTION
(CROWN EQUIPMENT CORPORATION & FORCE HOLDINGS LLC)
\VHEREAS the laws of the State of Indiana specifically I.C. 6 -1.1- 12.1 -1, et. seq.,
provide for the creation of economic revitalization areas within the corporate limits of the City of
Greencastle. Putnam County, Indiana, for the general purpose of providing property tax
deductions to encourage private redevelopment of areas which have become undesirable for, or
impossible of, normal development and occupancy because of a lack of development cessation of
growth, deterioration of improvements or character of occupancy age obsolescence substandard
buildings or other factors which have impaired values or prevent normal development of property
or use of property; and.
\VHEREAS, the terns "economic revitalization area" also includes any area where a
facility or group of facilities that are technologically, economically or energy obsolete are located
and where the obsolescence may lead to the decline in employment and tax revenue; and.
\VHEREAS. "redevelopment" means the construction of new structures in economic
revitalization areas either on unimproved real estate or on real estate upon which a prior existing
structure is demolished to allow for new construction; and.
\VHEREAS. "rehabilitation" means remodeling repair or betterment of property in any
manner or any enlargement or extension of property; and.
\VHEREAS, pursuant to applicable laws of the State of Indiana the Common Council of
the City of Greencastle may create said economic revitalization area through the adoption of a
resolution; and.
\VHEREAS, the need exists to establish an economic revitalization area in order to
encourage private redevelopment in the City of Greencastle. Putnam County. Indiana; and.
\VHEREAS. Crown Equipment Corporation has planned the economic revitalization of
their operations by expanding their operations into a 100,000 square feet existing facility at an
estimated investment of 51.0 million and investing up to 510.0 million in new manufacturing
equipment to support additional operations resulting in the retention of 667jobs and the creation of
100 new jobs at their facility. Crown Equipment Corporation seeks a tax deduction pursuant to
I.C. 6 -1.1 -12.1, et. seq.; and.
\VHEREAS. Statement of Benefits forms (Form SB -1/RE and Form SB- 1 /PP), said forms
approved by the Department of Local Government Finance, have been submitted to the Common
Council on April 10, 2017 prior to the start of property renovation and the installation of new
manufacturing equipment on such real estate by Crown Equipment Corporation and that such
Statement of Benefits forms are attached hereto and marked "Exhibit A and Exhibit B "; and.
WHEREAS. the Common Council of the City of Greencastle passed Resolution 2017 - 4
on March 9. 2017 and advertised a public hearing for April 13, 2017; and,
WHEREAS. the Common Council of the City of Greencastle pursuant to the laws of the
State of Indiana, does now hereby find that:
1. The estimate of the value of the new manufacturing equipment is reasonable for
projects of that nature;
2. The estimate of the number of individuals who will be employed or whose
employment will be retained can be reasonably expected to result from the proposed
described installation of new manufacturing equipment;
3. The estimate of the annual salaries of those individuals who will be employed or
whose employment will be retained can reasonably be expected to result from the
proposed described redevelopment or rehabilitation and installation of new manufacturing
equipment;
4. That any other benefits about which information was requested are benefits that
can be reasonably expected to result from the described redevelopment or rehabilitation
and installation of new manufacturing equipment.
5. The totality of the benefits is sufficient to justify a deduction.
THEREFORE, based upon these findings. BE IT RESOLVED THAT THE COMMON
COUNCIL OF THE CITY OF GREENCASTLE on this 13th day of April, 2017, pursuant to I.C.
6- 1.1- 12.1 -1, et. seq., deems there to be a need to establish an economic revitalization area and that
said economic revitalization area shall be defined as follows:
TRACT I - ORIGINAL CROWN SITE
Situate in the State of Indiana. County of Putnam and being a part of the \Vest hlaf
of the Northeast quarter and the East half of the Northwest quarter of Section 24,
Township 14 North, Range 4 West of the Second Principal Meridian, more
particularly described. to -wit:
Commencing at the Northwest corner of Section 24, Township 14 North, Range 4
West; thence South 88 degrees 10 minutes East 3.840.10 feet with the North line of
said Section 24 to the Northeast corner of the West half of the Northeast quarter;
thence South 00 degrees 19 minutes \Vest 469.67 feet with the East line of said
West half quarter to an iron pin on the South right -of -way line of Indiana State
Road #240 and the true point of beginning of the real estate herein described;
thence South 00 degree 19 minutes \Vest 694.04 feet with said East line; thence
with a fence line and the easterly extension thereof. North 83 degrees 33 minutes
West 503.48 feet to a wood post; thence North 77 degrees 56 minutes West 467.33
feet to a steel post; thence North 77 degrees 30 minutes \Vest 370.24 feet to an iron
pin; thence leaving the aforesaid fence line. North 00 degrees 19 minutes East
755.97 feet to an iron pin on the South right -of -way line of Indiana State Route
#240; thence with said South right -of -way line. South 76 degrees 42 minutes 00
seconds East 203.37 feet to an iron pin; thence Southeasterly 502.96 feet on a curve
to the left having a radius of 43,086.85 feet and subtended by a long chord bearing
South 77 degrees 02 minutes 04 seconds East a distance of 502.96 feet to an iron
pin; thence South 71 degrees 42 minutes 25 seconds Est 50.39 feet to an iron pin;
thence Southeasterly 150.42 feet on a curve to the left having a radius of 43.091.85
feet and subtended by a long chord bearing South 77 degrees 32 minutes 08
seconds East a distance of 150.42 feet to an iron pin; thence South 83 degrees 21
minutes 50 seconds East 50.39 feet to an iron pin; thence South 77 degrees 54
minutes 55 seconds East 394.34 feet to an iron pin and the point of beginning
containing 22.36 acres, more or less.
Commonly known as 2600 East State Road 240. (DR 216 page 387)
TRACT II - LAND BETWEEN ORIGINAL TRACT AND CAPITAL DRIVE
Situate in the State of Indiana. County of Putnam and being a part of the Northwest
quarter of Section 24, Township 14 North, Range 4 \Vest of the Second Principal
Meridian, more particularly described to -wit:
Commencing at an iron pin marking the Northwest Corner of Section 24 Township
14 North, Range 4 West; thence South 00 degrees 52 minutes West 90.11 feet with
the West line of said Section 24 to the South right -of -way line of Indiana State
Road #240; thence with said South right -of -way line Southeasterly 608.81 feet on a
curve to the right having a radius of 28,532.90 feet and subtended by a long chord
bearing South 87 degrees 59 minutes 44 seconds East a distance of 608.80 feet;
thence South 87 degrees 23 minutes 00 seconds East 799.76 feet to a concrete
right -of -way monument; thence South 81 degrees 40 minutes 22 seconds East
50.25 feet to an iron pin; thence South 87 degrees 23 minutes 00 seconds East
100.00 feet to an iron pin; thence North 86 degrees 53 minutes 53 seconds East
49.74 feet to an iron pin; thence Southeasterly 73.61 feet on a curve to the right
having a radius of 4,468.66 feet and subtended by a long chord bearing South 86
degrees 39 minutes 01 second East a distance of 73.61 feet to a 5/8 inch rebar and
the true point of beginning of the real estate herein described; thence continuing
with the aforesaid South right -of -way line Southeasterly 739.81 feet on a curve to
the right having a radius of 4,468.66 feet and subtended by a long chord bearing
South 81 degrees 26 minutes 35 seconds East a distance of 738.96 feet; thence
South 76 degrees 42 minutes 00 seconds East 110.63 feet to the Northwest corner
of a 22.36 acre tract as described in Deed Record 216. page 387 in the office of the
Recorder of Putnam County. Indiana; thence leaving the South right -of -way line of
the aforesaid Indiana State Road #240 South 00 degrees 19 minutes West 755.97
feet with the \Vest line of the aforesaid 22.36 acre tract to the Southwest corner
thereof; thence West 839 feet to the East line of a 0.31 acre tract; thence with said
East line North 00 degrees 18 minutes 00 seconds East 891 feet to the point of
beginning containing 16.12 acres, more or less.
Commonly known as 2400 East State Road 240. (DR 225 page 542)
TRACT III — Force Holdings Property
Situate in the State of Indiana. County of Putnam and being a part of the South half
of Section 13 and part of the North half of Section 24 all in Township 14 North,
Range 4 West of the Second Principal Meridian more particularly described
to -wit:
Commencing at a point where the North right -of -way of Indiana State Road No.
240 as described in Right-of-Way Grant Book 1, Page 118 in the Office of the
Recorder of Putnam County, Indiana intersects the centerline of County Road 275
East (having a right -of -way width of 33.0 feet) which point is 259.98 feet South
and 3,344.33 feet East of the Northwest corner of Section 24, Township 14 North,
Range 4 West; thence north 74 degrees 00 minutes 38 seconds West 16.69 feet with
said North right -of -way: thence South 53 degrees 50 minutes 03 seconds \Vest
33.86 feet to the true point of beginning of real estate herein described; thence with
the north right -of -way of said State Road No. 240 South 53 degrees 50 minutes 03
seconds \Vest 43.31 feet: thence Northwesterly 526.35 feet on a curve to the right
having a radius of 42.921.85 feet and subtended by a long chord bearing North 77
degrees 03 minutes 05 seconds West a distance of 526.34 feet; thence north 76
degrees 42 minutes 00 seconds West 314.00 feet; thence Northwesterly 135.66 feet
on a curve to the left haying a radius of 4633.66 feet and subtended by a long chord
bearing North 77 degrees 32 degrees 19 minutes West a distance of 135.66 feet;
thence North 73 degrees 21 minutes 34 seconds Nest 101.69 feet; thence North 81
degrees 30 minutes 09 seconds West 242.60 feet; thence leaving the North
right -of -way of said State Road 4240 North 481.21 feet to the Southwest corner of a
43.57 acre tract of land as described in Deed Record 183. page 522 in the Office of
the recorder of Putnam County. Indiana; thence East 1317.51 feet with the South
line of said 43.57 acre tract to the West line of a 0.726 of an acre tract of land;
thence South 00 degrees 27 minutes 02 seconds East 740.09 feet with the \Vest line
of said 0.726 of an acre tract to the point of beginning. containing 18.82 acres, more
or less.
Commonly known as 2601 East State Road 240 (Deed Record 2014003905)
THEREFORE, the Common Council of the City of Greencastle does recommend a
deduction of assessed value for a period of ten (10) years as a result of the renovation of the facility
owned by Force Holdings. LLC and located at 2601 East State Road 240 as set forth in I.C.
6-1.1-12.1-3. The following abatement schedule applies to the eligible real property
improvements that are a part of the expansion project outlined in this resolution:
YEAR ONE 100%
YEAR TWO 95%
YEAR THREE 80%
YEAR FOUR 651%
YEAR FIVE 50%
YEAR SIX 40%
YEAR SEVEN 30%
YEAR EIGHT 20%
YEAR NINE 10%
YEAR TEN 5%
YEAR ELEVEN AND BEYOND 0%
THEREFORE. the Greencastle Common Council does recommend a deduction of
assessed value for a period of ten (10) years as a result of the installation of new manufacturing
equipment as set forth in I.C. 6- 1.1- 12.1 -4.5. The following abatement schedule applies to the
eligible personal property that are a part of the expansion project outlined in this resolution:
YEAR ONE 100%
YEAR TWO 90%
YEAR THREE 80%
YEAR FOUR 70%
YEAR FIVE 60%
YEAR SIX 50%
YEAR SEVEN 40%
YEAR EIGHT 30%
YEAR NINE 20%
YEAR TEN 10%
YEAR ELEVEN AND BEYOND 0%
The Common Council of the City of Greencastle does NOT recommend a deduction or tax
abatement for special tooling nor does Crown equipment Corporation request such abatement.
The Common Council of the City of Greencastle further recommends and approves the
application of the deductions herein for improvements and equipment installed pursuant to the
Statement of Benefits from the approval of this resolution and during the eighty -one (81) ensuing
months. April 13. 2017 to December 31, 2023.
PASSED AND RESOLVED by the Common Council of the City of Greencastle at its
regular meeting this 13 day of April. 2017.
COMMON COUNCIL OF THE CITY OF GREENCASTLE. INDIANA
�� / i / .
Adam Cohen Stacie Lanedon
Mark N. Hammer / Tv; ` W. 4
Gary Lemon .teve Fields
0 .
ASSIVA
Dive Murry f
Approved and signed by me this 13th day of April 2017 at %'• ID p.m. o'clock.
j,
G2/
• i 2 - ArrApratir �f
William A. Don', Jr.. May ,,
ATTEST:
L v a Dunbar. Cler --Treasur
STATEMENT OF BENEFITS 20 PAY 20
o!� :t REAL ESTATE IMPROVEMENTS
Stec Form 51767 (Re 110-141 FORM SS-1 I Real Property
• ' i. Prescribed by the Department of Local Government Finance PRIVACY NOTICE
Tins statement is being completed for real property that qualifies under the following Indiana Code (check one box): Any Llonnation concerning the cost
CI Redevelopment or rebabiTitation of real estate improvements (IC 6-1.1- 12.1 -4)
of the loanla� e. by ad me
P meal -
❑ Resldenliagy distressed area (IC 6 g 6.1.1 owner '¢ mntpen`val per
IC 6 12.1 - 5.1.
INSTRUCTIONS: -
1. This statement must be submitted to the Cody designating the Economic Revitalization Area prior to the public hearing if the designating body requires
information from the applicant in making its decision about whether to designate an Eo nomc Revitalization Area. Otherwise, this statement must be
submitted to tne designating body BEFORE the redevelopment or rehabilitation of real properly for whkcn me person wishes to claim a deductlon.
2. The statement of benefits form must be submitted to the designating body and the area designated an economic revitalization area before the Initiation of
the redevelopment or rehablitation for which the person desires to claim a deduction.
3. To obtain a deduction, a Form 322/RE must be fled with the County Auditor before May 10 in the year in which the addition to assessed valuation Is
made or not dater than thity(30)days after the assessment notice is marled to the property owner dt was mated afterApri,10. A property owner who
failed go Fla a deduction application within the prescribed deadline may file an application between Merril 1 and May 10 of a subsequent year.
4. A property owner who files for the deduction must provide the CountyAudtmr and designating body 11'ith a Form CF- 1/Real Property. The Fom CF- VReal
Property should be attached to the Foot 322/RE when the deduction is first claimed and then updated annually for each year the deduction is applicable.
IC 6-1.1- 121- 5.1(b)
5. For a Form SB- 1/Real Property that is approved alter Jura 30, 2013, the designating body is required to establish en abatement schedule for each
deduction allowed. For Pcml SB- 1/Real Property that Is approved prior to July 1, 2013, the abatement schedule approved by the designating body
remains In effect IC 6-1.1- 12.1 -17
,SECTION ty „z -
.:' �
Name of taxpayer
Crown Equipment Corporation
Address of taxpayer (somber and street city stab', and LP cal)
44 South Washington Street, New Bremen, OH 45869
Name 01 contact peracn Telephone number E - maa address
Cheryl E. Christensen I ( 419 ) 629 -2311 cheryl.christensen@crovm.com
se - >.,.
Name of desIgnaing body Resolution number
Greencastle City Council
Location a pvpeny Cownty OLGF taxing dlsut& number
2600 - 2601 State Road 240, Greencastle, IN 46135 Putnam 008
owmption d real prepeM Improvements, redevelopment, or rehabilitation (use aational sheets it necessary) Es'itatod start date (month, thy. year)
See Attached 03/01/2017
Esuratad completion data (moth day. Yalu)
03/01/2022
7SECT10N,3r,=.,. r - qliSTIM17ATE,OF EMPLOYEES AND,SALARIES'AS RESULT -0F;PROPOSED PROJECT. ” .
Current number Salaries Number retained Salaries Number additional Salaries
667.00 528,483,620.00 667.00- $28,483,620.00 100.00 $4,409,600.00
;SECTION A - � _ • , >, :- - .,,,1t ._,_, ESTIMATED.TOTALICOST'Af•D,VALUE OF_PROP.OSED PROJECT -
REALESTATEIMPROVEMENTS
COST ASSESSED VALUE.
Current values 17.934.425.7
Plus estimated values of proposed protect 1,ow,oao.ao
less values of any property being replaced
Net estimated values upon completion of pro ect 19 34426,76
c ;;W45TEFCONVERTED'AND OTMEP.TBENEFITS } PROMISED'BY THE 7AXP•
Estimated solid waste converted (pounds) Estimated hazardous waste converted (pounds)
Other benetts ..
•
t _u• - TAXPAYER CERTIFICATION - T _r - -'
1 hereby certify that the representations in this statement are true.
syostu:eoj L :q Date St
Pdnmf ea r'/ rn of
,'f, vvfh e repproseena9 Title r /
Bradley L. Smith Assistant Treasurer
Page 1 of 2
3 =
�+ • l, _ �,� '". . )FOR USE OF.,TNE DESIGNATING BODY;'L '. _ . t t L
We find that the applicant meets the general standards in the re solution adapted or to be adopted by this body. Said resolution, passed or to he passed
under IC 6-1.1 -12.1, provides for the fo0owing limitations:
A. The designated area has been Omited to a period of time not to exceed -81 Months. Wender years' (see belotv). The dale thls designation
expires s Deccoter31, .
B. The type of deduction that Is allowed in the designated area i3 limited lo:
1. Redevelopment or rehabthtation of real estate Improvements l$ Yes 0 No
2. Residentially distressed areas 0 Yes t$ No
C. The amount of the deduction applicable is limited to s 1,200,000
D. other limitations or conditions (specify) None
E. Number of years allowed: ❑ Year Q Year 2 ❑ Year 3 D Year 4 ❑ Year 5 (- see below)
❑ Year 6 QYear7 ❑ Year 8 ❑ Year 9 ci0 Year10
F. Fora statement of benefits approved after June 30, 2013, ad this designating body adopt an abatement schedule per IC 6-1.1- 12.1 -17?
Yes ❑ No
If yes, attach a copy of the abatement schedule to this form.
If no, the designating body Is required to establish an abatement schedule before the deduction can be determined.
We have also reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have
determined that the totality of benefits is suffidenI to justi the deduction described above.
Appro . • - .2tum • • Ede of a • •• • d.- idesigna:ing Telephone number Date signed (mont day, year)
/ ( 765) 653 -3100 April 13, 2017
• na :e % authorized 1. • • a g body Name of design:Jng body
William A. Dory, Jr., Mayor Greencastle Common Council (SB -1 /RE)
Attested .ty • arum err Ida of attester) Printed name of attester
Lynda Dunbar, Clerk- Treasurer
• IL4 designating body limits the time patio which an area is an economic revitalization area, that Imitation does not IMit the length of time a
taxpayer Is entitled to recetve a deduction to a number of years that Is less than the number of years designated under IC 5 -1.1- 12.1 -17.
A. For residentially distressed areas where the Form SB- 1lReal Property was approved prior to July 1, 2013, the deductions established In IC
6-1.1- 12.1-4.1 remain In effect. The deduction period may not exceed five (5) years. For a Fonn SB- 1/Real Property that is approved after June 30,
2013, the designating body is required to establish an abatement schedule for each deduction allowed. The deduction period may not exceed ten
•
(10) years. (See IC 6-1.1- 12.1 -17 below.) -
B. For the redevelopment or rehabilitation of real property where the Forn SB- 1/Real Property was approved prior to July 1, 2013, the abatement
schedule approved by the designating body remains in effect. For a Form SB- 1lReal Property that is approved after June 30, 2013, the designating
body Is required to establish an abatement schedule for each deduction allowed. (See IC 6-L1- 12.1 -17 below.)
IC 6.1.1- 121 -17
Abatement schedules
Sec. 17. (a) A designating body may provide to a business that is established in or relocated to a revitalization area and that receives a deduction under
section 4 or 4.5 of is chapter an abatement schedule based on the following factors:
(1) The total amount of the taxpayers Investment In real and personal property.
(2) The number of new full -time equivalent lobs created.
(3) The average wage of the new employees compared to the state minimum wage.
(4) The infrastructure requirements for the taxpayers investment.
(b) This subsection applies to a statement of benefits approved after June 30, 2013. A designating body shall establish an abatement schedule
for each deduction allowed under this chapter. M abatement schedule must specify the percentage amount of the deduction for each year of .
the deduction. An abatement schedule may not exceed ten (10) years.
(c) An abatement schedule approved for a particular taxpayer before July 1, 2013, remains In effect until the abatement schedule expires under
the terms of the resolution approving the taxpayers statement of benefits.
•
•
Page 2 of 2
a ." STATEMENT OF BENEFITS
PERSONAL PROPERTY FORM SB -1 / PP
• Sate Form 51764 (R4 -15)
Prescribed by the Depanment of Local Government Finance PRIVACY NOTICE
Any Information concern Ina the cost
cube property and spen7c salaries paid
to individual employees by the property
are is confidential per IC 6 1.1- 12.1 - 5.1.
INSTRUCTIONS
i- This statement must he submitted to the body designating the Economic Revitalization Area prior to the public hearing d the designating body requires
information 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, and/or
logistical distribution equipment end /or information technology equipment for which the person wishes to claim a deduction.
2. The statement of benefits form must be submitted to the designating body and the area designated an economic revitalization area before the installation
orqualifyi g abatable equipment for which the person desires to claim a deduction.
3. To obtain a deduction, a person must file a certified deduction schedule with the person's personal property return on a certified deduction schedule
(Form 103 -ERA) with !tie township assessor of the township where the property is situated or with the county assessor inhere is no township assessor
for the township. The 103 -ERA must be filed between January 1 and May 15 of the assessment year in which new manufacturing equipment
end/or research and development equipment and/or logistical disfrrbufion equipment and/or information technology equipment is installed and fully
functional, unless a Sing extension has been obtained. A person who obtains a filing extension must tile he farm betv/een January 1 and he extended
due date of that year.
4. Property comers whose Statement of Benefits was approved, must ubnut Fom, CF -1/PP annually to show compliance with he Statement of Benefits.
(IC 6-1.1- 12.1 -5.6)
5. For a Form S8 -1FPP that is approved alter June 30, 2013, the designating body is required to establish an eaatement schedule for each deduction allowed.
For a Form Se -7VPP that is approved prior to July 1, 2013, the abatement schedule approved by the designating body remains in effect. (1C 6 -1.1- 121 -17)
,SECTIDHI -� ? y_;1 -..- TAXPAYER INFORr1ATIONi f 1` , -
Name of taxpayer Name of contact person
Crown Equipment Corporation Cheryl E. Christensen
Address of taxpayer (numbs and street, city slab, and ZIP code) Telephone number -
44 South Washington Street, New Bremen, OH 45869 ( 419 ) 629 -2311
;s WLOCATiON ANO OFiPROPOSED .PROJECT _
` . _°_. _.., ..._. -_ ._Tam.. -
Name of desI ;natinp body Resolution number (s)
Greencastle City Council
Location of property County DLGF adrlp diseict names.
2600 - 2601 Stale Road 240, Greencastle, IN 46135 Putnam 008
Desorption ofmalufactunng equipment and /or research and development equipment ESTIMATED
and/or logistical distribution equipment and/or inforlrlalion technology equipment. START DATE COMPLETION DATE
(Use additional sheets if necessary.)
Manufacturing Equipment 03/01/2017 03)012022
See Attached
R 8 D Equipment
Logist Dist Equipment
IT Equipment
-- -- 5ECTION'.:3i _, _7ESTIMATE,OF,IEIAPCOYEES AND SALARIES ''AS.RESULLOF.PRO OSED PROJECT-
Curmdamber Salaries Number retailed Selmer Number addidavJ Salaries
667 $28,483,620 667 $28,483,6 100 64,409,600
ESTIMATEDjTOTALtCOSLANo vAL'UEIOF PROPOSED. PROJECT : , - .._
NOTE: Pursuant to IC 6-1.1. 12.1 -5.1 (d) (2) the MANUFACTURING R 8 D EQUIPMENT LOGIST DIST IT EQUIPMENT
1
J E. •
COST of the property Is confidential. . COST uE D COST ASSESSED COST �VALSUE O CAST /'AL UE D
•
Current values 30,704,307
Plus estimated values of proposed project 10,000,000
Less values of any properly being. replaced •
Net estimated values upon completion of project 40,704,307
,_CSC -CTION 57 • * � !�'_+ WASTE CONVERTED AND OTHER BENEFITS PROMISED BY 111E TAXPAYER ^s ° •
Estimated solid waste converted (pounds) N/A I Estimated hazardous waste converted (pounds) N/A
Other benefits
^ - r -;YER'C iTtiriCATION • • - - • -
1 hereby comity that the representations In this statement are true.
Signature aauCw zoo rep; enge Data slated/Mona day year)
Printed nm: of au4wra reprosenatve The
Bradley L. Smith Assistant Treasurer
Page 1 of 2
- '- -
• • • ' • -- FOR USE OFTHE DESIGNATING BODY • •
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 mis body. Said resolution, passed under IC 8-1.1- 12.1 -2.5, provides for the following Ilrritaticns as
authorized under IC 6-1,1- 12.1 -2.
A. The designated area has been Girdled to a period of time not to exceed 81- Months caterdar years (see below). The date this designation expires
u December 31, 2023 . NOTE: This question addresses whether the resolution contains an expiration date for the designated area.
B. The type of deduction that is allowed In the designated area is limited to:
1 . Installation of new manufacturing equipment: Ig Yes 0 No 0 Enhanced Abatement per IC 6 -1.1- 12.1.18
2 . Installation of new research and development equipment 0 Yes D N o Check box if enhanced abatement was
3. Installation of new logistical distribution equipment. D Yes 0 N approved for one amore of these types.
4. Installation of new information technology equipment; D Yes 0 No
C. The amount of deduction appllcabe to new manufacturing equipment is limited to $ 11,000,000 cost with an assessed value of
$ To be determined (One or both lines may be filled out to establish a limit, if desired.)
D. The amount of deduction applicable to new research and development equipment is limited to $ cost wvith an assessed value of
S - . (One or both lines may be filed out to establish a limn, if desired.)
E. The amount of deduction applicable to new logistical distribution equipment Is limited to $ c ost with an assessed value of
4 . (One or both lines may be filled out to establish a Emit, if desired.)
F. The amount of deduction applicable to new information technology equipment is limned to 5 cost with an assessed value of
8 . (One or both lines may be filled out to establish a limit, if desired.)
G Other limitations or conditions (specify)
H. The deduction for new manufacturing equipment and/or new research and development equipment and /or new logistical distribution equipment and/or
new bnformation technology equipment Installed and first claimed eligible for deduction is allowed for.
❑ Year 1 0 Year 2 0 Year 3 0 Year 4 ❑ Year 5 D Enhanced Abatement per IC.6 -1.1- 121 -16
Year
Number
D Year 6 0 Year 0 Year8 0 Year9
LX ( En,'eroreronsenly(F- 20)yearr' may not
exceed twenty (20) years.)
I. For a Statement of Benefits approved after June 30, 2013, did this designating body adopt an abatement schedule per IC 6-1.1- 12.1 -17? ® Yes D No
If yes, attach a copy of the abatement schedule to this fort
line the designating bcdy is required to establish an abatement schedule before the deduction �n be determined. -
Also we have reviewed the Information contained in the statement cf benefits and find that the estimates and expectations are reasonable and have
determined that the totality of benefits is sufficient to justify the deduction described above.
Apir r o f fliir '- , Tetepione number ' Date stoned (month, day, year)
- ( 7 6 ) 653 -3100 April 13, 2017
Pnnkd rime d • - .out • • zlg.77 .body / Name A desigMGn body
William A. Dory, Jr., Mayor Greencastle Common Council (SB -1 /PP)
Attss•ed y. (signature and age or a• 4 Printed name of attester
�� Lynda Dunbar, Clerk- Treasurer
• the designating body limits the time period during which an area is an economic revitalization area, that 8mlthtlon does not Omit the length of time a
taxpayer Is entitled to receive a deduction to a number of years that Is less than the number of years designated under IC 6-1.1- 12.1 -17.
IC 6-1.1- 12.1 -17
Abatement schedules
Sec 17. (a)Adesignating bcdy may provide to a business that is e-tabrsh ed in or relocated to a revialzation area and that receives a deduction under section 4 or 4.5 •
of this chaplor an abatement schedule based on the fo6owng factors
(1) The total amount of the taxpayer's investment In real and personal property.
(2) The number of new furl-time equivalent jobs created.
(3)11e average wage of the new employees compared to the state minimum wage.
(4) The Infrastructure requirements for the taxpayer's Investment
(b) This subsecCon applies to a statement of benefits approved after June 30, 2013. Adesgna!ing body shall establish an abatement schedule for each deduction
stowed under this dnapter. M abatement schedule must specify the percentage amount of the dedution for each year of the deduction M abatement schedule may
not exceed ten (10) years
(c) An abatement schedule approved for a particular taxpayer before July 1, 2013, remelns in effect and the abatement schedule expbes under the terns of the
resot Aron approving the taxpayers statement of benefits.
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