HomeMy Public PortalAbout118-1996- TAX ABATEMENT - RICHMOND BAKING COMPANY - NEW MANUFACORDINANCE NO. 118-1996
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
Richmond Baling Company
New Jobs: 0 Jobs Retained: 85
Estimated New Value: $50,000
Dated: November 1, 1996
Passed and adopted this ;;�? day 996, by the Common
Council of the City of Richmond, Indiana.
L16-# dLL2� President
(Geneva Allen)
ATTES 9 City Clerk
(Norma Sc oeder)
RESEN ED to the Mayor of the City of Richmond Indiana this day of
Y Y Y
1996, at 9:00 a.m.
City Clerk
(Norma Schroeder)
O me, D nis Andrews, Mayor of the City of Richmon liana, this
day , 1996, at 9:05 a.m.j�
Mayor
(Dennis Andre )
A - Lw" ;City Clerk
(Norma chroeder)
STATEMENT OF BENEFITS Filing Under SEA 313
State Form 27167(R3111-91) Ten Year Aatement
Form SB • 1 is prescribed by the State Board of Tax Commrs. issione1
The records in this series are CONFIDEtMAL according to iC 15-1.1.35.9
'96 NOU 6 PM Z 12
FUHM
S8-1
INSTRUCTIONS:
1. This statement must be submitted to the body designating the economic revitilization area prior to the public hearing if the designating body requires info,
mation from the applicant in making its decision about whether to designate an Economic Revitilization Area. Otherwise this statement must be submltte
to the designating body BEFORE a person installs the new manufacturing equipment, or BEFORE the redevelopment or rehabilitation of real property tc
which the person wishes to claim a deduction. A statement of benefits is not required it the area was designated an ERA prior to July f, 1987 and th
project' was planned and committed to by the applicant and approved by the designating bodyy. prior to that date. Projects' planned or committed to aftE '-
July 1, 1987 and areas designated after July 1, Y987require 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 rehabilitatia,
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. Wh
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 assessme:
is received from the township assessor. Form 322 EFTA / PP must be filed between March I and May 15 of the assessment year in which new manula,
turfing equipment is installed, unless a filing extension has been obtained. A person who obtains a riling extension must fife the form between March 1 ar.
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
Benefits. (IC6-1.1-12.1-5.6)
Name of payer
R,%mU-VI,CL -Ba�' V,
Address of taxpayer (street and number, city, state and
S aC i)o4, �� S` (-
of contact person
+tame of designating body
0v» (Y%
.oca� of property County
LU o� Y) er
)escripfion of real property improvements and / or new manufacturing equipment to be acquired (use
:beets if i�tf-oval
necessary) m ct. ` S` " •,� � jyV vy-%
CC7
number Salaries
,S, 1;2 - R0 3
D TOTAL COST AND VALUE DF PROPOSED PRDJECT- --
Real Estate Improvements
Current values
Plus estimated values of proposed projet
Less values of any property being replac
Net estimated values upon completion of
0
number
mated starting date
II - I -�(a
sated completion c
l-3)-9
rag
Salaries
Assessed Value
Ccrn. L v\
j p pew c.�vJi1ui�
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DISPOSITION OF ORDINANCE NO. - 19
RESOLUTION NO. - 19
by Common Council
Ordinance No.
Resolution No.
Date 4
Elstro
Lundy
Wissel
Stamper
Welch
Parker
Aller
Dickman
Hutton
Susp. rules 1st reading
Title Only
Second
Move to 2nd reading
Second
Engrossment
Second
I
v
Susp.rules 3rd reading
Second
Passage
Rejection
Date Passed/
COMMITTEE ASSIGNMENTS:
Committee Date