The URL can be used to link to this page

Home My Public Portal About059-1997 - Tax Abatement - Purina MillsORDINANCE NO.59-1997 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 Purina Mills, Inc. New Jobs: 0 Jobs Retained: 6 Estimated New Value: $30,000.00 Dated: May 12, 1997 3r Passed and adopted thi� day o 1997, by the Common Council of the City of Richmond, Indiana. resident (Robert Dickman) ATTES -, ity Clerk (Norma S roeder) PRESENTED to the Mayor of the City of Richmond, Indiana, thisday o� 1997, at 9:00 a.m. C, City Clerk (Norma Schroeder) A P VED by me, Dennis Andrews, Mayor of the City of Richmond,- a this day of 1997, at 9:05 a.m. , i Mayor (Dennis And ews) ATTES • k v- , City Clerk (Norma chroeder) STATEMENT OF BENEFITS 1;ry ' State Form 27167 (R4110-93) Form SS - 1 is prescribed by the State Board of Tax Commissioners. 1989 psi• FORM S8-1 iNSTRUC71ONS: 1. This statement must be submitted to the body designating the economic revitilization 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, 1967 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 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 ,,s 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 Name of taxpayer _ �ki May 997 Address of taxpayer (street and number, city, state and ZIP code) rr�TY CONTRaL-.t�' NMott,- Name of contact person elephone number SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of designating body Resolution number Location of rcperty �� "1 - Coun Tax district it Description of real property improvements and /of new manufacturing equipment to be acqui ed (use additional Estimated starting date sneets if necessary) % 7 r �6,_ e<-,Ic P � r' Estimated completion date N SECTION 4 ESTIMATED TOT4L COST AND VALUE NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the 'Real Estate Improvements COST of the property is confidential. Cast - OF PROPOSED PROJECT Assessed Value Machinery Cost Assessed Value Current values Plus estimated values of proposed project Less values of any property being replaced ( Net estimated values upon completion of project _ , t,Ty CONTROLLEF. I herelov cprlify that the representations in this statement are true. Signature of authorized repressenn tive Tale Date signed (month, day, year) 00N Purina Mills, Inc. ■ May 13, 1997 Mr. Clay Miller Finance Officer City of Richmond 50 North Fifth Street Richmond, Indiana 47374 Dear Mr. Miller: Please find attached completed Statements of Benefits for the Purina Mills, Inc. Test Diet facility located at 1050 Progress Drive. They cover the project periods 1/1/96-11/30/96 and 1/1/97- 11/30/97. The listed projects were previously submitted for approval as part of the Purina Mills SB-1 submissions for the facility located at 505 North 5th Street. They appeared as Test Diet Equipment on the detail listings included with those submissions (also attached) and were approved as part of Resolution Numbers 100-1995 and 131-1996 respectively. Per my discussion with Mr. Robert Bever, the Richmond City Attorney, we are submitting these projects separately for reapproval because the two locations are in different Economic Revitalization Areas. Although he indicated reapproval would be automatic, he though it necessary to refile for the new Area. He also recommended that we submit the CF-I and the Form 322 ERA/PP for the projects started in 1996 and completed in January, 1997 based on the original approval. We respectfully request that you prcess these Statements of Benefit for reapproval at your earliest convenience. Enclosed is a check for $200 to cover the filing fees for both years. Thank you for your assistance. If you have any questions, please call me at (314) 768-4588. MAY 191997 utTY CONTROLLIE " ^� ' V OF RICH. filr Sincerely, ,8/everly D. Riola Tax Manager P.O. Box 66812 1401 S. Hanley Road St. Louis, Missouri 63166-6812 St. Louis, Missouri 63144 ZM 4432C-9112