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Home My Public Portal About079-1995 - TAX ABATEMENT - DFR LIMITED LIABILITY COMPANY - REALORDINANCE NO. 79-1995 (Second reading amendment) A SPECIAL ORDINANCE AUTHORIZING THE APPROVAL OF A STATEMENT OF BENEFITS FOR A PROPERTY OWNER APPLYING FOR DEDUCTION UNDER I.C. 6-1.1-12.1 WI IEREAS Common Council has designated eight economic revitalization areas within the City of Richmond, and WHEREAS Indiana Code 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 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 the Indiana General Assembly adopted Section 11.3 under the above referenced Indiana Code provision, which enables a designating body to waive noncompliance when a property owner desires to claim a deduction from assessed value but has failed to submit the completed statement of benefits form before the initiation of the redevelopment or rehabilitation, NOW, THEREFORE, be it ordained by the Common Council of the City of Richmond, Indiana, that DFR Limited Liability Company's noncompliance with the requirement to submit the completed statement of benefits form before the initiation of the rehabilitation of real estate improvements 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 request for waiver on November 6, 1995, which public hearing was duly advertised in the Palladium -Item newspaper on October 20, 1995. BE IT FURTHER ORDAINED that the real property improvements consisting of constructing a swimming pool and recreation center at an estimated cost of $510,000; the 4th floor renovation adding 30 rooms for overnight guests at an estimated cost of $375,000, and the renovation of the building exterior parking lots, signage and landscaping at an estimated cost of $200,000 by DFR Limited Liability Company meets the requirement for deductions in the assessed valuation of real estate improvements pursuant to a statement of benefits dated July 26, 1995, showing the retention of 70 jobs and the creation of 75 additional jobs with total salaries of $1,300,000.00 per year as a result of the rehabilitation of real estate. Said statement of benefits is attached Exhibit A. Be it further ordained that the new equipment estimated to cost $200,000 and the renovation of the kitchen and restaurant estimated to cost $800,000 also provided by DFR Limited Liability Company does not meet the requirement for deductions in the assessed valuation for tax purposes. Be it further ordained by said Common Council that its President be authorized to sign the above described Statement of Benefits for the purpose of evidencing said Common Council's approval of the first three categories shown on the "Description of real property improvements" only. Passed and adopted this � nth day of 1*-cember, 1995, by the Common Council of the City of Richmond, Indiana. President (Sarah L. Hutton) ATTES 6City Clerk (Norma S ceder) PRESENTED to the Mayor of the City of Richmond, Indiana, tl is :.5�`day of ember, 1995, at 9.00 a.m. City Clerk (Norma APPROVED by me, Roger Cornett, Mayor of the City of Richmond, Indiana, this -5 *day of 'Dzc::ember, 1995, at 9:05 a.m. ,Mayor (Roger Cornett U ATTES , City Clerk {Norma hroeder) 79-1995 (2nd) CITY OF RICHMOND DEPARTMENT OF LAW 50 North 5th Street Richmond, Indiana 47374 Phone (317) 953-7220 Fax (317)966-2255 November 17, 1995 Common Council Richmond, IN 47374 RE: Ordinance No. 79-1995 ROGER CORNETT Mayor THOMAS S. MILLIGAN City Attorney Dear Council Member: This ordinance has been revised and is presented to you on second reading as a proposed amended ordinance. Attached hereto is a letter dated November 14, 1995, to Council member Parker in response to his request for an opinion on this ordinance's request for tax abatement. Please note that the ordinance in its proposed amended form approves only three of the five categories of improvements listed by the applicant on the SB-1 form. Sincerely yours, Thomas S. Milligan City Attorney Enclosure TSM/mad DISPOSITION OF ORDINANCE NO. -19- RESOLUTION NO. -19 by Common Council Drdinance No.q � Resolution No. Elstro Lundy Brookban Donat McBric a Parke Allen Dickmar Hutton Date Susp. rules Ist read Title only -------- Seconded ----- ---- ------ --- - ----- ---- ---- ---- -------- Proof of Publicaton ------------------ Seconded ------ ------ -------- ---------- ------ ------ ------ ------ ---------- Move to 2nd read Seconded --- ---- --------- Engrossment ----------------- ------ ------ -------- ---------- ------ ------ ------------------------ Seconded Susp rules 3rd read ------------------ ------ ------ -------- ---------- ------ ------ ------ ------ Seconded ---------- t� Passage Rejection / Date Passed 4 `" q COMMITTEE ASSIGNMENTS: Committee Date Commitee Hearing Date Reassigned to Council Agenda PUBLICATION DATES: AMENDMENTS: COMMENTS: