HomeMy Public PortalAbout060-1997 - Tax abatement - Purina MillsORDINANCE NO. 60-1997
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:
l . 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: 5
Estimated New Value: $10,000.00
Dated: May 12, 1997
Passed and adopted this day o 1997, by the Common Council of
the City of Richmond, Indiana.
President
(Robert Dickman)
ATT T:
o� , City Clerk
((Norma Schroeder)
PRESENTED to the Mayor of the City of Richmond, Indiana, this day of"
1997, at 9:00 a.m.
Clerk
10
AP OVED by me, Dennis Andrews, Mayor of the City of Richm
of _ 1997, at 9:05 a.m.
A
day
STATEMENT OF BENEFITS
State Form 27167 (R4 / 10-93)
Form SB - 1 is prescribed by the State Board of Tax Commissioners. 1989
rsr�
FORM
SB-1
iNSTRUCTIONS:
1. This statement must be submitted to the body designating the economic revitalization area prior to 'he public hearing if the designating body requires infor-
mation from the applicant in making its decision about whether to designate an Economic Pevitilizatien 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- la 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 I;i 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.
3. 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)
VNam, ,of taxpayer —0111111
,K) 1-f
1 Address of taxpayer (street and number, city, state and ZIP code)
,� ( r
Nameie of contact person ,� dd�, / I {Telephone number
/k _ I (3oti1 ) 7(c�-- ysf,
5ECTION 2 LOCATION
Name of designating y
AND DESCRIPTION
OF PROPOSED PROJECT
I Resolution number
Locationiof property
Cotunllty
Taxing district
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r':\iL'..-1—
('J�� rt:l�.
i,`J 7✓t AIL i7j� J ."��;
j Description of real property improvements and / or new manufacturing equipment to be acqu ed (use additional
Estimated starting date
sheets if necessary) r\
•� C,�+ ae S r'.��
3 c3 r, j
Estimated completion date
fief S; 74�iAjr 2=r,"'wP,
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SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT
NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the
COST of the property is confidential.
'Real Estate
Cost .us;.r. Improvements
Value Cost Assessed Value
Current values
3 6,/ (Y
�: s
Plus estimated values of proposed project
�> c;;�,
Less values of any property being replaced
Net estimated values upon completion of project
/4 r .6 r<, / 'LE
I q3,., .� f
STY COT r�r
I hereby certify that the representations in this statement are true.
Signature of authorized represent ve Title Date signed (month, day, year)