HomeMy Public PortalAbout106-1996- TAX ABATEMENT - FICKENSCHER AMERICA LLC - NEW MANUFACORDINANCE NO. 106-1996
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 and prior Council
resolution for a ten 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,
' _ '`- r `"� .n orc;,� :�� �,.,n~.;.ion Council to approve a Statement of Benefits to
allow a deduction, it must male 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
Fickenscher Amercia, L.L.C.
New Jobs: 32 Jobs Retained: 2
Estimated New Value: $7,500,000
Dated: September 27, 1996
REAL ESTATE - 10 YEARS
Fickenscher America, L.L.C.
New Jobs: 32 Jobs Retained: 2
Estimated New Value: $95,000
Dated: September 27, 1996
Passed and adopted this A� day 1996, by the Common
Council of the City of Richmond, Indiana.
��[�C��r�esident
(Geneva Allen)
ATTE ity Clerk
4(Normi-K h-roed-er)
RESEITMD to the Mayor of the City of Richrr.&nd,:l«dtasta, ibis 5�� day of
1996, at 9:00 a.m.
)6kA AAIA' V"\x -tb"-p City Clerk
(Norma Schroeder)
A
A
n
STATEMENT OF BENEFITS
a
State Form 27167 (R4 t 10-93)
Form 613 - 1 is presedbed by the State Board of Tax Commissioners, 1989
FORM
SB-1
This 10 0
INSTRUCTIONS: C.o O�l i d`' r �� g 40
1. This statement must be s'4nitted 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 Revibfization 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 Mach 1 and May 15 of the assessment year in which new manufac-
turing 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 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)
Name of taxpayer
FICKENSCHER AMERICA, L.L.C.
Address of taxpayer (street and number, city, state and ZIP code)
1650 RICH ROAD RICHMOND, INDIANA 47375-0451
Name of contact person Telephone number
JOHN WAYNE (317 ) 939.-0105
of designating body
Luc:ation of property County
i650 RI -CH ROAD, RICHMOND, IN 47375 WAYNE
Description of real property improvements and f or new manufacturing equipment to be acquired (use additional
sheets if necessary)
Resolution number AMMENDED
10-1984 11_01
Taxing disirict
RICHMOND CORP.
Estimated starting date
INJECTION MOLDING PRESSES AND AUXILARY EQUIPMENT 10-01-96
MATERIAL HANDLING EQUIPMENT, FORKLIFTS, Estimated completion date
COMPUTER EQUIP., CAD EQUIP.,REAL ESTATE 9-30-99
IMPROVEMENTS.
SECTION 4 ESTIMATED
NO E: Pursuant io iC 6-t.1-12.1 5.1 (d� j2] theReai
COS of the property is confidential.
TOTAL COST AND VALUE
'Estate Irnpi6Verhdnts
2Ccst Na' ti
OF, PROPOSED PROJECT
Assessed Value
'Machinery
Cost Assessed Value
Current values
0
0
Plus estimated values of proposed project
95,000
7,500,000
Less values of any property being replaced
0
0
Net estimated values upon completion of project
95,000
7,500,000
of authorized
that the representations in this statement are true.
Date signed (month, day, year)
CONTROLLER 1 9-27-96
u�eaA.
DISPOSITION OF ORDINANCE NO. / (0 6 - 19
RESOLUTION NO. - 19
by Common Council
Ordinance No.
Resolution No.
Date "0
Eistro
Lundy
Wissel
Stamper
Welch
Parker
Allen
Dickman
Hutton
Susp. rules 1st reading
Title Only
Second
Move to 2nd reading
Second
Engrossment
Second
I i
Susp.rules 3rd reading
Second
Passage
v
v
Rejection
Date Passed — ' G
Z-� I
COMMITTEE ASSIGNMENTS:
Committee Date