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Home My Public Portal About048-1995 - TAX ABATEMENT - COATINGS RESOURCE CORP;DJD PARTNERSHORDINANCE NO. 48-1995 A SPECIAL ORDINANCE AUTHORIZING THE APPROVAL OF STATEMENTS OF BENEFITS FOR PROPERTY OWNERS APPLYING FOR DEDUCTIONS UNDER I.C. 6-1.1- 12.1 WHEREAS Common Council has 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 per Statute for a ten year period from the assessed value, and WHEREAS an owner of new manufacturing equipment is entitled to deductions per Statute for a 5 year or 10 year period from the assessed value of new manufacturing equipment, and WHEREAS the Indiana General Assembly adopted Section 11.3 under the above referenced Indiana Code provision, which legalizes and validates all designating body actions after February 1, 1991, and before July 1, 1995, and enables a designating body to waive noncompliance when a person desires to claim a deduction from the assessed value but has failed to submit the completed statement of benefits form before the initiation of the redevelopment or rehabilitation or the installation of new manufacturing equipment, NOW, THEREFORE, be it ordained by the Common Council of the City of Richmond, Indiana, that the following property owners meet the requirements for property tax assessed valuation deductions as follows: REAL ESTATE -10 YEARS Coatings Resource Corporation New Jobs: 10-15 Jobs Retained: N/A Dated: July 10. 1995 DJD Partnership Nixon Tool Co., Inc. - Lessee New Jobs: 1-5 Jobs Retained: 28 Dated: June 21, 1995 NEW MANUFACTURING EQUIPMENT - 10 YEARS Bev's Threads, Etc., Inc. New Jobs: 2 Jobs Retained: 27 Dated: June 22, 1995 Coatings Resource Corporation New Jobs: 10-15 Jobs Retained: N/A Dated: July 10, 1995 Sanko Peterson Corp. New Jobs: 2-5 Jobs Retained: 7 Dated: June 28, 1995 Spartech Plastics New Jobs: 0 Jobs Retained: 130 Dated: June 16, 1995 Be it further ordained that the following property owners' noncompliance with the requirement to submit the completed statement of benefits form before the initiation of the redevelopment or rehabilitation of real estate improvements or the installation of new manufacturing equipment is hereby waived pursuant to Indiana Code 6-1.1-12.1-11.3 (a) (2) and (c) after conducting a public hearing upon said requests for waiver this same date, which public hearing was duly advertised in the Palladium -Item newspaper on July 6, 1995, and that the following property owners meet the requirements for property tax assessed valuation deductions as follows: NEW MANUFACTURING REAL ESTATE - 10 YEARS EQUIPMENT - 10 YEARS 1100 Property, LLC New Jobs: 1 Jobs Retained: 8 Dated: June 13, 1995 Aluminum Company of America New Jobs: 0 Jobs Retained: 340 Dated: June 19, 1995 Alucobond Technologies, Inc. New Jobs: 29 Jabs Retained: 0 Dated: June 13, 1995 Quality Tool & Gage, Inc. New Jobs: 0 Jobs Retained: I Dated: June 14, 1995 Richmond Center, LLC New Jobs: 200 Jobs Retained: 25 Dated: June 13, 1995 NEW MANUFACTURING EQUIPMENT 5 YEARS Asahi Tee America Corp. New Jobs: 2 Jabs Retained: 2 Dated: November 8, 1994 Purina Mills, Inc. New Jobs: 0 Jobs Retained: 47 Dated: March 15, 1994 And be it further ordained by said Common Council that its President be authorized to sign the above listed Statements of Benefits for the purpose of evidencing said Common Council's approval thereof. Passed and adopted this 17th day of July, 1995, by the Common Cau ' f th ity of Richmond, Indiana. ident (Sarah L. utton) ATTES ,City Clerk (Norma Carnes) PRESENTED to the Mayor of the City of Richmond, Indiana, this 18th day of July, 1995, at 9:00 a.m. G- D A L'�,City Clerk (Norma Carnes) APPROVED by me, Roger Cornett, Mayor of the Ci o is n , Indiana, this 18th day of July, 1995, at 9:05 a.m. Mayan oger ornett ATTEST. ,City Clerk (Norma Carnes) STATEMENT OF BENEFITS yk4e, ,44 k me,,1 7114095 FORM state Form 27167 (R4110.93) S B - . Form sB -1 is prescribed by the State Board of Tax Commissioners,1989 *y RECEIVE® JUN 2 1 93 INSTRUCTIONS: 1. This statement must be submitted to the body designating the economic revitifization 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 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, 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 5-1.1-12,1) 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 March 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 / _ / 'e V 'S reA A � r` G , -1-r1 G Address of taxpayer (street an(Y number, city, state and ZIP code) Name of contact person Telephone number e✓ Qe 2 ( T / ? ) 94)79S Na a of designating body a / Resolution number ► !� uriCr� i` F� �i� a ItrG"fibr:ria�q Itt-!4'�//�meh/r /i-/9g/ Location of //property County Taxing district / Z/ yoN rh 'T SIYL'e pn /V F/ 7 3 7 tt% m E Description of real property improvements and 1 or new manufacturing equipment to be acquired (use additional Estimated starting date sheets if necessary) o J�, I Z �� ► �r/o Iler�[Y liner one — e-id' %kit e 1 �� pad Estimated completion date /D yCatn- Il,faaTN{i+�n! firPS/T�i r /�pV��r ��r 9a� -SECTION.4 ESTIMATED NOTE: Pursuant to lC 6 t .1 12.1-5.1 (d) (2} theRea[ COST of the property is confidential. TOTAL COST AND VALUE OF PROPOSED PROJECT Estate Improvements Assessed value Cost Machinery Assessed Value Current values F// 0 410 Z_ y p LO Plus estimated values of proposed project / i5 0 !gig 0 Zy Less values of any property being replaced -" Net estimated values upon completion.of project Syd A/C, Z 7l097.0 herebyw*rfify that the representations in t statement are true. Signature o on d represen iv Title Date sign (month, day, year) DISPOSITION OF ORDINANCE NO. -�Z -iS fs RESOLUTION NO. -19 by Common Council Ordinance No.—�f Resolution No. _ Efstro Lundy Brookban Donat MCBri a Parke Allen Dickma Hutton Date F/' - d Sus}. rules Ist read Title only / r/ ------------------------- ,9econded ------ -------- ---------- ----- ------ ------ ------ ---------- Proof of Publicaton Seconded - --------- Move to 2nd read Seconded - Engrossment ----------------- Seconded ------ - - ---- -------- ---- - ----- ------ ------ ------ ✓ ------ ------- --- Susp rules 3rd read ------------------ ------ ------ -------- ---------- ------ ------ ------ ------ Seconded ---------- Passage 1/ ✓ �_ ------- --O R - ----- -------- --------- ------ ----- ----- ------ --------- Rejection Date Passed �, / 7l �s- COMMITTEE ASSIGNMENTS: committee Date Commitee Hearing Date Reassigned to Council Agenda PUBLICATION DATES: AMENDMENTS: COMMENTS: