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Home My Public Portal About111-1996- TAX ABATEMENT - GRAFCOR INC - NEW MANUFACTORING EQUIPORDINANCE NO. 111-1996 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, in order for Common Council to approve a Statement of Benefits to allow a deduction, it must make the following findings, to -wit: l . 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 Grafcor, Inc. New Jobs: 0 Jobs Retained: 44 Estimated New Value: $959,300 Dated: October 22, 1996 Passed and adopted this day o 1996, by the Common Council of the City of Richmond, Indiana. President (Geneva Allen) ATTEL"CitvClerk (Norma Sc oeder) 2=0 the Mayor of the City of Richmond, Indiana, this 1 day of, 1996, at 9:00 a.m. - City Clerk A��(N`orma/Schroeder) AOVE me, De is Andrews, Mayo —day 1996, at 9:05 ATTES City Clerk (Norma hroeder) s-s.i+��o�nc�►a�staaa��t�rc�assesc6 �C� Z REQUEST FOR TEN YEAR ABATEMENT'' This=Mmerrr Haut be stdmWadto &,1eb0qydeVw=W titre PubfcheWA;gffthe d=tn=tj9b0dyf=cfi=im rna�rur freer � aj�pdir�rt ire rr�tv'rrg � abaur � m a� �orr� � � � sx�rmastba sr�rrm VIM 9Hi7RE a parsers ura raw rr�actru evs ar BRAE the at rs�t �r Rtmr Cse perSM wistw ro ctatm a dedu=hm A t of t.+emfits is not reqamd if the rrasr cksx0aWd aP M14 Prkrto �49Y 1, 1987 and, prt 0xe"MPtarusedW1d -- ;firr as by the r 7Nq;eae pftmwd or 1ax AW 1. IM7 and areas desffjn=d afner.lrsfy 1, 1987 regrdre a 7ATF3EHVTaF� ( . i-72 xa A xvtrat of ttre desi ag body (OZy t Taw C e=* GMgx 7� musrt�e ab�imd{uiar to of the �ars� armor to �r of .tt new rnaxdacWakg eqmpment BEFORE a dears amybeq*=roa� L Ta cbtaur a fir, Ron J= FAA. Real t 9 �� arrdJc+r Fora S22 6�4 JF'�? Neee►# he i�'ed tgih4 #xe'�ragya � respect m rest prapernr, Farms CIA rnr t i filed ths� tatar ad. (rj �4fttay r0; am {i Y (M days aftr a aaW& afkx7mmw in rat { pesly ass sszs is received tlarrr tt�e toyrrrsirtF assess : Forrrr 8 t J PP rr crsr tee trZed t err ititarntr t t ter y8 afi the year in which now rrrart d Sertta,� egaa�sn-1rt laccm�a � rates a tang �aar�aa tas tra�rr adrairr�+�of. �t t•�arsa� �vhv a� a �+g iarr r�wst �e �e fours faetwe b!arrJr 7 aad,ftaae f4��y� � �oerry owrsers wtscse Stam�'�ersi of emits t+�s approved atter,ltrl jr r, I9l�t mwsrssab�r Fosrrr CF- r may to sh<svrcarrpr,�e svrdFr � SSa�tTrerr Berre�. (IG�x.7-t2T�.sj GRAFCOR, INC. Acf� aEraup�yer strera rsr er, tstg, sxavand�i'wcte) 601 Northwest'5th Street, Richmond, IN 47374 Name at cacttact person �Talq� nw=es Paul Molyneaux ( 317 ) 966--8655 Common Council of Richmond, Indiana L"cwmrt°tpmpedy 601 Northwest 5th Street, Richmon Dirt of rest p�erty prrproer�t�rts atxi t at t,ew Ong eqr � � lea (rs5e Thermal platemaking equipment,' to wit: CREO Trendsetter 5880F $440,000 256 MB RAM & fast Ian card 17,900Allegro 5000 RIP worksta. $110,.000 :Memory, drive and software $184,400CREO Platemaker 4520 $207,000 t [reutbar saasies � Iar tr�r� M •,,•••«�44 $300.00044 = 0 "Ors A a = mtttM is r,-I I-12-1- .t (d1 C4 to ccarcctr*Pwoenyisc=fdNw. C4XWM WkWS Phss Maned sralues fo= vakws of MW UK R=aurw number chmond Corporation December 1, 1996 December 1, 1997 1 s►ret eea va4sas raors ccarmtatigsa d acar�cs ! 1 � .. . � - mat the M r day. » DISPOSITION OF ORDINANCE NO. r r - 19 RESOLUTION NO. - 19 by Common Council Ordinance No. Resolution No. Date Elstro Lundy Wissel Stamper Welch Parker Aller Dickman Hutton Susp. rules t st reading Title Only Second Move to 2nd reading &Nxn i Engrossment Second I i Susp.rules 3rd reading lI Second Passage Rejection Date Passed COMMITTEE ASSIGNMENTS: Committee Date