Loading...
HomeMy Public PortalAbout064-2013 - Abatement - Finance System - real estateORDINANCE NO. 64-2013 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 from the assessed value, pursuant to Indiana law, for a period of any number of years less than or equal to ten (10) years (i.e. one to ten years); and WHEREAS, an owner of new manufacturing equipment is also entitled to deductions from the assessed value, pursuant to Indiana law, for a period of any number of years less than or equal to ten (10) years (i.e. one to ten years); 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 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. 6. That the improvements to the real estate described in the SB-1 must be completed within 24 months of the date the ordinance is signed by the designating body. NOW, THEREFORE, the Common Council of the City of Richmond, Indiana, now makes the following Endings: E 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 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. 6. That the improvements to the real estate described in the SB-1 must be completed within 24 months of the date the ordinance is signed by the designating body. THEREFORE, be it ordained by the Common Council of the City of Richmond, that the following property owner meets the requirements for property tax assessed valuation deductions, as follows: REAL ESTATE - 10 YEARS Finance System of Richmond Inc. Jobs Retained: 17 Jobs Created: 32 Estimated New Value: $500,000.00 Dated: October 15, 2013 Passed and adopted this day of /-/013, by the Common Council of the City of Richmond, Indiana. President ( Par er) ATT ST- (Karen Chasteen, L4MC, MMC) PRESENTED to the Mayor of the City of Richmond, Indiana, thisd day of 2013, at 9:00 a.m. clerk {Karen Chasteen, IAMC, MMC) APPROVED by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this day of , 2013, at 9:05 a.m. .C��7 Mayor (Sarah L. Hutton) ATT T: wren hasteen, IAMC, MMC) DR USE OKTHE arz.mM 'A7itar; Rrir " 1fthe deWonating body limits the time pertpd".durlarea,: t hoes not irrr3lt-tFib length at"Nrite a t8ilp�yQt i5 entitled to "reCeive a deduckan ta,a number of years desig€�ated under 10 6. 1, IA2".1.41 A. For residentially distressed areas, the deduction period may not exceed five"(5) years; B. For mdevelopment and rehabilitation orTell 'estate impfovements: 1, ifthe;Ewnomic Revitalization Area was desigrtated purer to Ju€y 1, 2000 the deducinn:;O od is united to itiree (3) `s 2, ifYh� Ecommic Revitalization Area wss.Oasionated: after"dune!30i 20M. And rs,:not in a residentially distressed' area, III exw, ten (10) years, Form SB-IA QtyDtRlc6iiioud, dl4ua Taxpayer 'Wage . &Benefit Infonmation Finance System, Inc, Providing Reliable Collection Services Since 1955 Tel: 765-962-7500 PO Box 786 Tel: 877-962-7507 32 South 9th Street Fax: 755-962-5999 Richmond, IN 47375 www.financesysteminc.com chris@financesysteminc.wm October 11, 2013 TO: EDC of Wayne County RE: Proposed Improvements to 5703 National Rd. East After obtaining all of the necessary layouts, measurements and estimated costs, Finance System has come up with some very exciting improvements to the former Ryan's Steakhouse. Not often is a 10,400 square foot restaurant turned into a busy call center. We have enclosed the interior layout design that includes plenty of employee amenities including lounge areas and a full exercise facility to promote health in the work place. Finance System plans to remove all of the interior and exterior pine wood that was attached to the building by the former tenant. We will restore the beautiful masonry that surrounds the entire building. The 2.4 acres will be cleared of all unsightly brush and replaced with fresh landscaping. The 170+ space lot will be resurfaced and striped. We at Finance System hope to improve the quality of our neighborhood and city as well as create an attractive location on on, of Indiana's busiest roads. Truly yours, Chris Coleman Vice President Finance System of Richmond, Inc. a z O z � Z � Lu W 3 a 2K5 �g H GNP URZ C rsR= O z O N �CDIrI ❑ o Y Q e O�b u lli 116 Ilu` II A 1A .1 III 8 III � EI L% r 4 L� �` I 0 0 =un CIO WSJ I t41 I I L1L I �r z I I� ILID r--- JI I �d u� 5d (D i r, 3�^ LJ L(4I �'i"'r� L J r—�- U A ae az Oz a° z= cu U M K 0 °u, q � U a z"n�`� a ' ,0 a D�-,E zai r - <00 a Z Yvvvvv� W 0 ~ WH © W V Z Z L,i. --------_---7 Y„ii I s� VyYI j 1 may, I , u y ®S vl Cassidy/ TurleyRealCO E` ateSmv;Ges Life Overhead r£ Profit PRELIMINARY BUDGET ANALYSIS PROJECT NAME: Finance Systems BUILDING: SUITE: S.F. 10,422 Date: 9/2212013 27 1 417 ESTIMATED DESIGN FEES 16,422.00 CONTINGENCY 25,000.00 TOTAL PROJECT COST 458,857.00 CT CONSTRUCTION MANAGEMENT 16.697.40 Total Cost Per Square Foot will be removed Altemate Cost Yted Altemates iead and Profit COORDINATION FEE 1 1,415.081 Total Cost Per Square Foot wl Alternates 1 $49.161