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Home My Public Portal About123-1997 - Tax Abatement- H & P Tool CoORDINANCE NO. 123-1997 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 H & P Tool Company, Inc. New Jobs: 0 Jobs Retained: 31 Estimated New Value: $67,000.00 Dated: November 14, 1997 Passed and adopted this day o 1997, by the Common Council of the City of Richmond, Indiana. President ,` (Reb'®#Pieliman) ATTE C : City Clerk (Norma (chroeder) PRESENTED to the Mayor of the City of Richmond, Indiana, thi� day of� r,.) 1997, at 9:00 a.m. t-J, City Clerk (Norma Schroeder) ROV b me, Dennis Andrews, Mayor of the City of Richmond ndi ithis — day 1997, at 9:05 a.m. (Dennis C ATTE T: _.1e,_, City Clerk No Schroeder) Mayor STATEMENT OF BENEFITS AMENDED FORM State Form 27167 (R4 / 10-93) // SB - Form SB - 1 is prescribed by the State Board of Tax Commissioners, 1989 1 10) Year Abatement Requested leis INSTRUCTIONS: I. 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 submitt& to the designating body BEFORE a person installs the new manufacturing equipment, or BEFORE the redevelopment or rehabilitation of real property fo 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 afte, 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. INitt. 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 H & P Tool Company, Inc. Address of taxpayer (street and number, city, state and ZIP code) r10 South "G" Street Name of contact person Richmond, IN 4 73 74 Telephone number (765) 962-4504 Name of designating body Richmond Common Council Location of property County 610 South "G" Street Wayne Description of real property improvements and / or new manufacturing equipment to be acquired (use additional stets if necessary) Sharp LMV-50 Axis CNC Vertical Mill Machine. 2. Sharp TW-105-RH CNC Bed Mill With Anilam 1100 Control Resolution number 11-1 y y 1 10-1984 Amended By Taxing district Richmond Corp. Estimated starting date NOV- 1, 1997 Estimated completion date Dec- 5, 1997 SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PR. Current number Salaries Number retained Salaries Number additional Salaries 31 923,397 31 923,397 0 0 SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT NOTE: Pursuant to IC 6 1.1-12.1 5.1 (d) (2) theReal Estate Improvements COST of the property is confidential. �' east Assessed Value =.; r Assessed Value Current values 599,791 Plus estimated values of proposed project h , Less values of any property being replaced Net estimated values upon completion of project 666,791 Retention of Current Number Of Employees And Salaries. 10) Year Abatement Request2d Amended 2217 EAST 44th STREET PRECISION INDIANAPOLIS, IN 46205 x PRODUCTS, INC. 317-546-7379 317-542-1667 FAX LOUISVILLE OFFICE "Providing Profits Through Technology" 502-968-6456 502-267-9083 FAX OCr �� 199? Sold To: H & P TOOL 610 G Street Richmond, IN 47374 ------Customer ID Customer PO H&PT01 6551 Sales Re ID Shipping Meth 47 TRUCK Ship to: 610 G Street Richmond, IN 47374 tits Item uescnpnon 1.00 SHARP LMV-50 (SIN 50722854) WITH ANILAM 1100 CONTROL (SIN 9031807647) INCLUDING POWER DRAW BAR AND VISE 1.00 TOOLING PACKAGE FOR YOUR CONVENIENCE WE NOW ACCEPT MASTERCARD AND VISA Invoice Invoice Number: 710124 Invoice Date: Oct 23, 1997 Paqe: 1 Payment Terms Net 30 10/21/97 Unit Price 19,900.00 972.70 Subtotal Sales Tax Total Invoice Amount Payment Received TO Due Date 11/21/97 Extension 19,900.00 972.70 20,872.70 20,872.70 _ O.OQ_ 20,872.70 NOV 11 '97 10:44RM J.M. PRECISION P.1/6 PRECISION 2217 EAST 44th STREET J77PRODUCT S INC. INDIANAPOLIS, IN 46205 r PHONE: (317) 546-7379 "Providing Profits Through Technology" FAX: (317) 542-1667 To: H & P Tool Company, Inc. 610 South G Street Richmond, IN 47375 Attention: George Peters Quotation #: 1983 Date: November 11, 1997 Delivery: 2 - 3 Weeks ARPO F.O.B.: Ontario, Canada Terms: 10% Down - Net 30 TW 105-RE CNC Bed Mill with Anilann 1100 Conversational Control In accordance with your request, we are pleased to offer the following for your consideration: GENERAL DESCRIPTION: This high performance rigid head CNC bod mill, which is extremely rigid, is designed for Mold Makers, Tool and Die, and Production Shops. TW-105-RH CNC BED MILL SPECIFICATIONS: Table Working Surface 13" x 59" Table Load 2000 LBS Saddle Width 46" Way Surface Hardened & Groundrr=ite B Casting _ Meehanite Travels X Axis Controlled Y Axis Controlled Z Axis Controlled (HEAD) Ballscrew Diameter X, Y & Z Spindle Motor Spindle RPM (Variable) Spindle Taper 3999 22" 22" 1.57" 10 HP 100-4000 Programmable CAT40 with Power Drawbar I 7! IYJ• NHHIA J . I I. rRLI-iJivl I Quotation # 1983 Page 2 Performance Rapid Traverse Feed Rates Resolution (Closed Loop) Positioning Repeatability Rapid and feed rate override General Electrical Floor Space Net Weight 200 IPM 0.1-100IPM .0001" +/- .0002" 0 to 120% 230V/l0HP/60Hz/30Amp 84"H x 80"W x 57"D 6200 LB S STANDARD MACHINE FEATURES: • Precision Ground Ball Screws for X, Y and Z Axes • Automatic Lubrication System • Programmable Flood Coolant • Chip Pan and Reservoir • Counter -Balanced Head • Heavy Duty DC Servo Motors on All Axes • Programmable 10 HP Spindle • Rotary Encoder Feedback (.0001 Resolution on All Axes) • Cutting Feedrate: 0.1-200 IPK Rapid Feedrate: 2001PM • Halogen Worklight • Steel Telescoping Way Covers • Power Draw Bar • Custom Splash Guards ANILAM SERIES 1100 CONTROL: The Anilam Series 1100 control is a conversational CNC control with graphic menu program entry. There simply are no G-codes or other codes to memorize, The Series 1100 uses a very simple "machinists language" to prompt the user for its various types of movements and functions. Developed by machinists, for machinists, the Series 1100 control can fill virtually any 2- or 3-axis need. The Series 1100 is an extremely powerful, versatile, and simple to use CNC control. The Series 1100 has features and characteristics that separates it from any other CNC on the market today. • 32 Bit PC Hardware • Conversational "Machinists Language" • Built in calculators for math, trig, and geometry Friendly part graphics for program verification • Automatic corner rounding • Pockets, hole patterns (grid & bolt circle), rotate, mirror and scale The features of the Series 1100 are extensive and will improve the machining capabilities of any user. JV 11 , `J' ( IU- 91JM1'I J . 1 1. r ILL --.-a. Quotation #1983 Page 6 PRICING: TW-105-RH CNC Bed Mill with Anilam 1100 Control Includes: Splash Guards, Chip Pan, Steel Way Cover, Worklight, Power Draw Bar, Freight, Installation, and a 33,500.00 Tooling Allowance. 546,800.00 OPTIONS: Electronic Handwheel S1,200.00 1100 Off -Line Software $950.00 400 IPM Rapid Transverse Rate $2,025.00 Table Mounted Splash Guards - (Available in approx. 90 days) S1,350.00 Manual Handles for X & Y S1,350.00 Power Draw Bar Included 10 HP Programmable Spindle Included Splash Guards Included WARRANTY: J & M Precision Products warrants the products it sells to be free from defects in material and workmanship for a period of one (1) year from date of shipment. Upon notification to our Service Department of a problem, we will immediately send a replacement part; request defective part to be returned to H.H. Roberts for inspection and repair or replacement; or schedule a service technician to inspect and repair or replace defective part in your plant. We wish to thank you for your consideration and we invite your inquiry as to any other information you find necessary. We trust that our proposal is acceptable and that we may be favored with your order. Sincerely, J & M Precision Products, Inc. � M. Jon C . Maynard President e H&P H & P Tool Company, Inc. P.O. Box ass 610 South G Street, Richmond, IN 47374-0486 Date Check No. Discount Amount 10/31/97 16756 $100.00 P o I a Loa & Trust Bank e pe n Winchester, IN 47394 Pay To I City of Richmond The 50 North 5th Street Order Of Richmond. IN 47374 L e H&P Invoice Date 10/31/97 016756 71-378 749 �. _. President - y . Controller H & P Tool Company, Inc. Remittance Advice Number P.o. Box 486 610 South G Street, Richmond, IN 47374-0486 H & P Tool Co.. Inc. Reference I Invoice Amount Filing Fee for Tax Abatem of Sharp Vertical Milling 5HQkP C- v C- /,.3co /v"/tC. 3992 $100.00 Balance upon approval Lchina $20.000.MM '4�rL1)1 GCG. CC