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Home My Public Portal About033-1997 - Tax Abatement - Elder Family PartnersORDINANCE NO. 33-1997 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 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 Elder Family Partners L.P. New Jobs: 30 Jobs Retained: 500 Estimated New Value: $1,500,000.00 Dated: March 24, 1997 Passed and adopted this 9V day of 1997, by the Common Council of the City of Richmond, Indiana. 4Ze,th,t� resident (Robert Dickman) A"I T1Sd (� ti�ci ._ City Clerk (Norma Schroeder) PRESENTED to the Mayor of the City of Richmond, Indiana, this day of 1997, at 9:00 a.m. 1��_ 1 . City Clerk ((No a Schroeder) APPROVED/�y me, Dennis Andrews, Mayor of of Qi 1997, at 9:05 a.m. vlayor C ATVfiT� a City Clerk (Norma Schroeder) day `"' Cr"'' STATEMENT OF BENEFITS FORM W - State Form 27167 (R4 / 10-93) Form SB -1 is prescribed by the State Board of Tax Commissioners,1989 laid ' Q��? 27 fl�1 11 2� /U yea+r O at �"&--r �9 �1 INSTRUCTIONS: 1. This statement must be submitted to the body designating the economic revifilization 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 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 maybe 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 Address of taxpayer (street and ifumber, city, state and ZiP code) /loZO Roar% Name of contact person (Telephone number Name of designating body Location of property /4ZO Rmk R County Description of real property improvements and / or new manufacturing equipment to be acquir6d (use additional sheets if necessary) poc E bri t , aie k `h 1 � I Ira•{yw �* e II tt'fY&Gjl Sy/i1��w -2679 lesolution number to -/9 fv axing district Rw�......d/ e stimated starting date N/1/9-7 hated completion date '//1/9 f SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT Current number Salaries Number retained Salaries Number additional Salaries pv '7,sOtJ v�� S"op 7 Svo ooa 30 `�8a coo SECTION4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT NOTE: Pursuant to IC 6 1.1-12.1-5.1 (d) (2) theReal Estate Improvements _-Ma6hinery COST of the property is confidential.'" Assessed Value " ''`�Ost "� Assessed Value Current values Plus estimated values of proposed project10 �O Less values of any property being replaced Net estimated values upon completion of project SECTION 6 TAXPAYER CERTIFICATION I hereby certify that the representations in this statement are true. Signature of authorized representative Title Date signed (month, day, year) •g1�19 7 DISPOSITION OF ORDINANCE NO. 50 - 19 ? r RESOLUTION NO. - 19 by Common Council Ordinance No. j 3 Resolution No. Date _ "7 Elstro Lundy Wissel Stamper Welch Parker Alle Dickman Hutton Susp. rules 1 st reading Title Only Second V' Move to 2nd reading Second Engrossment Seoond Susp.rules 3rd reading Second Passage Rejection Date Passed -f 2 ' COMMITTEE ASSIGNMENTS: Committee Date