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Home My Public Portal About128-1997 - Tax Abatement - Purina MillsORDINANCE NO. 128-1997 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 New Jobs: 0 Jobs Retained: 57 Estimated New Value: $1,580,000.00 Dated: November 5, 1997 Passed and adopted this day 1997, by the Common Council of the City of Richmond, Indiana. President` (RTftTrr1Mr1ntan) ATTEST: c,J , City Clerk (Norma Schroeder) PRESENTED to the Mayor of the City of Richmond, Indiana, this_ day Z C 1997, at 9:00 a.m. APPOV by me, Dennis Andrews, Mayor of 1997, at 9:05 a.m. ATTEk�: l9 �v.�ti , City Clerk (Norma chroeder) City Ci Clerk iNnrm Qn}irna�arl Z-- day Mayor �-)WVW � R. STATEMENT OF BENE �5 I FORD NOV 71997l� Stm Fcrtn z'7, e1 ( � � , p-�1 at Tie Comm>st+oners. 1 98s Forth 58. 1 a pr+ra+�i0 SB- ICY e* StM Board ... CITY 0F RICHI�OIVD NSThis SW* ffw die body g the s==W r> ftffsat/on arse prior W Me !V� tteanyv If We desigrrmv body require u matron iZr;1 �'d dyg - . i &bout `��i11 r to designate an ECWWNC Revrtirr1W AMt. OMerwz*e Wit smttment must be $UtXn m the des 6Eti7RE a utssJb We new squp?wnt or BEFORE YW a rehabktynon of real propertl which theto � vadY ►a daunt a dedrtCbor►. A sWwmant of bwmfitt is not required i1 the area was desgpion to an ERA pto July i, 1987 and 10 We applicant end approved dw detgneUrg body, pier t0 War date. 'Pro/eas' plamed or aorumrttad ro u1Y 1. • was Wytnea and 1, 1987 require a STATEMENT OF BENEFITS (IC 8.1.1.121) July 1, 1987 and area: designated alter 2. AGOroval of the dasVnWM body (City Caunclt Town Boarex Counn�ryr Cotaidl e1G) must be obtained poor to inilYaaiotl of the or rNtabilita Orono, to ,,,$Wjsaon of the new manufacwnn9 equipment 8M.49 a d ookicbOn may be 4WVved 3. To obta/n a deduction. Form 322 ERA. Real Estate InWowments and / or Fofm = ERA/ PP. New Mwftwy, mist be Mad with the coww auditor. respect to real prooern: Fain 3= ERA must be filed by the toter ol: (1) May 10. or (2) dirty (301 days alter a nabcs of increase in real prowly assessr is received from We township ass*5W. Form J22 FERA / PP must be riled be[ween Mann i and May is of We assessment year in which new mane tunng equipment becomes assassable. unless a filing extension has been obtained A pe►aon who obtain a " extension must NO the torm be1101 March 1 and June 14 of that yea►. 4• Property owners whose Statsrmettt of 9enefrts was approved atW July 1. 1991 must submit Forth CF- 1 ZVXM#y to ShOw a0mpliar7Ce With We Stafemei Benefits. (IC6-t.t-12t•5.6) Name of taxpayer Purina Mills, Inc. Address of taxpayer (stree( and number. WK etas and DP code) 1401 S. Hanley Rd., St. Louis, MO 63144 Teiepflons nui.90 Name of contact person Beverly D. Riola ( 314 ) 768-4758 SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of designating Dody ftickikm number Locai[on of property City of Richmond County TMV '"i - 505 North 5th, Richmond, IN Gipa 89030 Richmond i Descnonon of real property improvements and / or new manufacauing equipment to be aoquirsd (um addlor I E.stlrrtased Me sneers d necessary) See Attached List Esctltstvsd �o% SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSE 1] PROJECT I MINNOW —1 .. i.•.................ram Nachinery NOTE. Pursuant to IC 5.1.1.1 Z1-5.1 (0) (4 um COST of the pmwW is confldetdel- AssssNd VaitM Aaesssed Wlw Cunent values Plus estimated vaiues of proposed omieu OD OD .O Less values of any property tieing reoiaced Net estimated values noon Completion of protect / •To • hereo c that the reoresentatws in this statement are true. - Titfe Date signed (R+ nrn. - -3r� cr.t,re or autnonzea reoresentauve ; r:, -7, 1 �y ` "02, /�Qt �. /� C!/f We have reviewed our pnor aeons relating to the designation of this economic revitalization area and find that the applicant meet general standards adopted in the resolution previously, approved by this body. Said resoWtion, passed under IC 6-1.1.12.1.2.5, v,des for the following limit2lil sat. authorized under IC a-i.1.12.1.2. A. The designated area has 15W limited to a period of time not to exceed calendar years ' (see below). T'no data designation expires is S. The type of deduction that is allowed in the designated area is limited to: 1. Redevelopment or rehabilitation of real estate improvements: ❑ Yes ❑ No 2. Installation of new martufaceuring equipment ❑ Ye: ❑ No 3. Residentially distressed areas ❑ Yes ❑ No C. The amount of deduction applicable for new manufacturing equipment installed and first claimed eligible for deduction after Ju 1987, is limited to S cost with an assessed value of S 0. TMe of deduction a:plicabio to redeva:ap:rant or reliabiliiaiiun iii an area designated alter September 1, 1yda is limit, $ cost with an assessed value of S S. Other limitations or conditions (specify) F. The deduction for new manufacturing equipment installed and first claimed eligible for deduction after July 1, 1991is allowed ❑ 5 years ❑ 10 years Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are rea able and have determined that the totality of beneffts is sufficient to justify the deduction described above. (sgnaaue ano ,tile a/ surnaaad memo«) I T"Oorw nurnow `One signed (maw% dry. reery J Attested bwv ►�4-/( I91 If the designating body limits the time period during which an area is an economic revftWon area. it does not Ilmft the length of 1 a taxpayer is entitled to receive a deduction to a number of yeas designated under IC &1.1.12.1-4 or 4.5 Namely: (see tables be, NEW MANUFACTURING For Deductloffs Year of Deduction EQUIPMENT Allowed Over A hive (b) Year Pereeatage Period. Ten (10) Yew Pn�Oe 1 st 1009'• 100% 2nd 95% 95% 3rd 80% 90% 4th 65% 85% 5th 50% 809E 6th 70% 71h I 55% ath 40% 9th 30% 10th ! 25% Yew of DeduWon REDEVELOPP.701T OR REFfAHILtrATiGN (IF REAL PROPERTY IMPROVLMEr4r For Oeductions Allowed Over .. Of - Three (3) Yew SIX (e) Yew Deduction 04dUction Ten (10) V Deduotk 1 st 100% 100% 100% 2nd 66% 85% 959E 3rd 33% 66% 800/0 4th 50% 65% 5th 34% 50% 6th 17% 40% 7th 30% ath 20% 9th 10% 1 Oth 5 % PURINA MILLS, INC. 505 NORTH 4TH STREET RICHMOND, IN 47375 ATTACHMENT TO FORM SB-1, STATEMENT OF BENEFITS CAPITAL PROJECT DESCRIPTION ------------------------- Dry Coating Longhorns Cyclones Liquid Coating Liquid Tanks Grinding Extruders Rehopper Bins 21-24 Mill Roofing Lot Paving Air Conditioning -Lab Various Office Items TOTAL NEW MFG. EQUIPMENT d: microword\data\sb-1. doc ESTIMATED COST OF PROPOSED 1998 PROJECTS $ 75,000 350,000 150,000 200,000 200,000 90,000 300,000 150,000 3 5, 000 30,000 ------------- $1,580,000 Nov 0? 19? 14:36 FR PURINA MILLS ?68-4889314_?68 4909 TO 9-1-?65983?212 P.02iO3 zi 2 1C'olria SR -IA City of Rkhnw nd, Indimxa Tali IAyttr W2ge & Renef t h*nation Company Nax ie and Addres :: Purina Mills, Inc. 505 North 5th Street Richmond, IN 47375 L — — (Richmond Plant) .��. The informatic n requested o. , this supplement to form SB-1 must be completed and submitted alor ; with your Sl ;-I in order for your tax abatement request to be considered by Richmond + :ommon Cout cil_ Please retain y -ur records = l calculations used to arrive at the information requested on this foraL It is subject to rev -,w as a part of our monitory process,. 1. Average ho rly wage for t xisting employees ZQ 2. Average hot rly wage for 1 rojected new positions S ti.40.1 3. Average hot rly heahh inst ranee benefit DEFIMION, t. Average ho trly wage for a xisting employees: for your most recur pay period please provide the Lverage base -- 'Age per hour for all current full time, non -supervisory employees. Do not includ s the following groups: f . part tilm et tployees; F . manageiu= t, supervisors, foremen, or any other supervisory personnel; C . owners, sta kholders, or partners if they own 2% or more of the business, ar i their family metmber5. 2. Average hot .1y wage for p ojected new positions; Use the same definition of employees it be included a; in number one above. 3. Average hov -ly health insu �anoe benefit: Please provide the current company paid h�alth insura me benefits pi avided to hourly employees (as defined above) and family members. P) use present it the form of an hourly rate computed using the anxzual cost per eligi ale employee t .ivided by 2080 hours. tiutho Si . xtt re and Tit—k ) Nor 07 '97 10:13 1+31?+963?212 PAGE.02 NOV 07 197 14:37 FR PURINA MILLS 768-4889314 768 4809 TO 9-1-7659837212 P.03/03 Form S114A City of Richmond, Indiana Tax )ayer Wne & Renef t %formation Company Nar ie and Add= Purina Mills, Inc. 1050 Progress Drive Richmond. IN (Test Diet)-)' The informatic n requested o. , this supplement to form SB-1 must be completed and Submitted alor ; with your S31-t in order for your tax abaremat request to be considered by Richmond , 'ommon Coto cil. Please retain y -ur records an i calculations used to arrive at the information requested on this form. It is subject to rmv --w as a part of our monitoring process. 1. Average horly wage for t xisti * employees $ 2 2. Average hot rly wage for I rojected new positions &• �'4 3. Average hoi rly health inst ranee benefit $ 2.O D]E`1FINMON, l . Average ho arly wage for i xisting employees: for your most recant pay period please provide ft waape base -. -age per boor for all cutrexxt full time, non -supervisory employees. Do not includ : the following groups: . part time er tployees; I _ managemet t, supervisors, foreman, or any other supervisory personnel; owners, sta kholders, or partners if they own 2% or snore of the i busyness, ,ar. I their family members. <. 'Average hot~ :1y wage for p ojected new positions: Use the same definition of employees to be included a; in number one above. 3. Average boa ly health insu once benefit: Please provide the current company paid health insure Ice benefits pi 3vided to hourly employees (as defined above) and family members. P) ease present it the form of an hourly rate computed using the: ann021 cost per eligi sle employee t ivided by 2080 hours. (tiu W. dure and Titk) (D NW 07 '9? 10'13 1+317+983?212 PAGE.02 ** TOTAL PAGE.03 **