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Home My Public Portal About110-1997 - Tax Abatement - Johns ManvilleORDINANCE NO. 110-1997 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 Johns Manville International, Inc. New Jobs: 0 Jobs Retained: 114 Estimated New Value: $3,200,000.00 Dated: August 28, 1997 r Q ` Passed and adopted this day 13� the City of Richmond, Indiana. 1997, by the Common Council of President (Robert Dickman) ATTES, City Clerk (Norma (chroeder) t 1-- PRESENTED to the Mayor of the City of Richmond, Indiana, this day 04�-=�� 1997, at 9:00 a.m. City Clerk (Norma chroeder) 7ROVED by me, Dennis Andrews, Mayor of the City of Richmond, a�f 1997, at 9:05 a.m. (Dennis ATTES, 2\-91, City Clerk (Norm chroeder) this day Mayor rs) STATEMENT OF BENEFITS FORM _ State Form 27167 (R4 / 10-93) APef?4W Form SB - 1 is prescribed by the State Board of Tax Commissioners, 1989 ' low u1,.P O 10 07 INSTRUCTIONS: 1. This statement must be submitted to the body designating the economic revitilization ar qr r ing if the designating body requires infor mation from the applicant in making its decision about whether to designate an Economol i r erwise this statement must be submitted to the designating body BEFORE a person installs the new manufacturing equipment, 6� ment 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 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. nth 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 - I annually to show compliance with the Statement of Benefits. (IC 6-1.1-12.1-5.6) Name o�f taxpayer Address of t a.-pa-y er (stroe! and number stato and ZIP cVds) 7�, ci,m --AA01 . * Eaw iE`iZL(:!O Name of contact person dd"� 1KI '962t-1- Telephone number r 3�3)9�4-25�(e Na of designating bad n Resolution number \ G4�fM �e ,� �-Ok JCa ` Court Taxing district Location of p erty 1. ��a� .J � � %%� Zc.�� E. " % LJs `Description of real property improvements and / or new manufacturing equipment to be acquired (use additional Estimated starting date sheets if necessary) to..iJe2T sx r,8t2oitt.)is► p- �F�g£4f� M•�G, %Aeo * Q 4PVXA � r •�.�'�es�.! �rr►� �J+hc�► wt�.�„ �e�� s eowA4e<1k2Z%JE W ('TU l c5 4`i•A, mated completion date ,-A` SECTION 4 ESTIMATED NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the COST of the property is confidential. TOTA� COST AND VALUE OF PROPOSED PROIJECT 'Real Estate Improvements =° <Cost •: Assessed Value Assessed Value Current values to �j9� NoY� Pius estimated values of proposed project Less values of any property being replaced .4 4p3 2-11—> Net estimated values upon completion of project � I ,t 12 ISignature of authorized representative that the representations in this statement are true. %R-L Date signed (month, day, year) Johns Manville September 2, 1997 City of Richmond Dept. of Law Attn: Ms. L. Casterton 50 North 5th Street Richmond, IN 47374 Dear Ms. Casterton, VWreqvrA) SE P S 1997 CITY CONTRULLEH CITY OF RICHMOND Johns Manville Corporation 717 17th Street(80202) P.O. Box 17368 Denver, CO 80217-5108 303 978 2000 Attached please find our application for abatement of personal property taxes on the upgrade of our two blowing wool lines at our Richmond fiberglass plant. The blowing wool is currently being produced on the SX process. In this process air and gas are mixed at the burners. Combustion is incomplete and inefficient. Our main competitor in the blowing wool industry has many advantages over our current product. 1 - 48 SF of coverage per bag vs our 42 SF. 2 - Installation time ( 20o faster than ours). 3 - Higher R-values after application. 4 - Better product consistency. 5 - Tolerance of varied installation practices. In order to meet or exceed the competitions standards we are proposing the conversion of both our blowing wool lines to the PX fiberizing process. In this process a pre -mix of air and gas is delivered to the point of combustion, which allows a more complete and efficient combustion. If you have any questions concerning this application please do not hesitate to contact me at (303) 978-2576. Yours truly, 1 dhn Kennedy Property Tax Administrator File:1301ABT