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Home My Public Portal About131-1996 - TAX ABATEMENT - PURINA MILLS INC - NEW MANUFACTORINGORDINANCE NO. 131-1996 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: 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 the 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 EQLJI—PMENT- 10 YEAR Purina Mills, Inc. New Jobs: 0 Jobs Retained: 50 Estimated New Value: $1,540,000.00 Dated: November 19, 1995 Passed and adopted this day o14 997, by the Common Council of the City of Richmond, Indiana. sident ATTES �a City Clerk (Norma S oeder) l�* RESENTED to the Mayor of the City of Richmond, Indiana, this day of 199.1, at 9:00 a.m. 4 � ,City Clerk (Norma chroeder) JkROVE y me, Dennis Andrews, Mayor of the City of Richmond, Indiana, this day o , 199e , at 9:05 a.m. _L=f!!:9'_..` ' ,, , Mayor (Denni e ) ATTES �-khxkQ, City Clerk (Norma chroeder) x �STATEMENTOF BENEFITS = State Form 27767 (A4/ 10.93) r Q FDRM Form SB -1 is prescribed by the State Board of Tax Commissioners, 19a9 6 OEC S B - 01 INSTRUCTIONS: I. This statement must: be submitted to the body designating the economic revitilization ar8a 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 Revitilization 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, i987 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, 1987and areas designated after July 1, 1987require 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 l 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 ok (1) May 10; or (2) thirty (30) days after a notice of increase in real properly assessment is received from the township assessor. Form 322 ERA / PP must be riled between March i and May of the assessment year in which new manufac luring equipment becomes assessable, unless a filing extension has been obtained. A person who cb15 15 o 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 Benefits. (IC 6-1.1-12.1-5.6) - 1 annually to show compliance with the Statement of of tMpayer i . Address of taxpayer (sheet and number, city, state and Z1P cadet 1Z 5. Hgnley Rd,, :Loris, Md E�31q contact G'5. werRIn i Description of real property improvements and / or new sheets if necessary) See. A-4cc�l L5+ SECTION 3 ESTIMATE OF EMR Current number Salaries 781 number ) 76B-47,-c-;W-QW Resolution number County, . 1 Taxing manutacturing equipment to be acquired (u a additional Estimated starting date V1197 Estimated completion d 1 130 97 Number retained Salaries Number additional ISalaries NOTE: Pursuant to fC 6-1.1-12.1-5.1 (d) (2) the - - _ COST of the property is confidential. - Cast Assessed Value Current values CostAssessed Value Plus estimated values of proposed project Less values of any property being replaced Net estimated values upon completion of oroiect PURINA MILLS, INC. 505 NORTH 4TH STREET RICHMOND, IN 47375 ATTACHMENT TO FORM SB-1, STATEMENT OF BENEFITS ESTIMATED COST CAPITAL PROJECT OF PROPOSED DESCRIPTION ------------------------- 1997 PROJECTS ------------------------- Bag Hanger $ 350,000 Test Diet Equipment 10,000 Grinding Pellet 200,000 Extruder Upgrade 100,000 Dryer - North Extruder 450,000 Lab Equipment 60,000 Screen Replacement 70,000 Hysil System 50,000 Vibratory Conveyance 40,000 Computers 50,000 Office Revision 25,000 Granular Leg Head 25,000 Fat Apple 25,000 Transformers 30,000 Pick-up Truck 20,000 Forklifts (2) 35,000 TOTAL NEW MFG, EQUIPMENT ------------- $1,540,000 c: microwordMorilsb-1. doc ® Purina Mills, Inc. O E November 19. 1996 Mr. Clay N,111ler Finance Office City of Richmond 50 North Fifth Street Richmond. IN 47374 Dear Mr. Miller: Enclosed is a completed Statement of Benefits for our Richmond, Indiana plant. This is for machinery and equipment which will be added during I997. We would appreciate your prompt approval of the deduction for the equipment on Attachment A. A self-addressed, stamped envelope is enclosed for your convenience. If you have any questions, please contact me at (314) 768-4758. Sincerely, Beverly D. Riola Tax Manager enc. x: mi crowordllorilrhisb 1. doc P.4, Box 66812 1401 S. Hanley Road St. Louis, Missouri 63166-6812 St. Louis, Missouri 63144 ZM 4432C-9112 DISPOSITION OF ORDINANCE NO. _ 19 RESOLUTION NO. - 1 g by Common Council Ordinance No. Resolution No. Elstra Lundy Date Susp. rules 1st reading Title Only Second Move to 2nd reading Secor>d Engrossment Susp.rules 3rd reading Second Rejection Date Passed - ' ff COMMITTEE ASSIGNMENTS: Committee Date Welch Dickman[ Hutton