HomeMy Public PortalAbout006-2014 - Sponserd by Ron Oler - Personal property tax abatements for personal propertyCOMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA
AMENDED ORDINANCE NO.6-2014
A SPECIAL ORDINANCE ALLOWING PERSONAL PROPERTY
TAX ABATEMENTS FOR CERTAIN OFFICES FOR
DEDUCTIONS FROM ASSESSED VALUE WITHIN AN
ECONOMIC REVITALIZATION AREA
WHEREAS, Pursuant to Indiana Law, I.C. 6-1.1-12.1 et. seq., the Common Council of the City
of Richmond, Indiana may find that a particular area within the City is an
Economic Revitalization Area which provides as an economic development
incentive certain property tax deductions for the redevelopment or rehabilitation
of real property or the installation of new manufacturing equipment; and
WHEREAS, The Common Council has previously adopted Resolution No. 10-1984 which
designates certain areas in the City as Economic Revitalization Areas and sets
forth certain procedures for an owner to obtain certain deductions therein; and
WHEREAS, Resolution No. 10-1984 has previously been amended to add other areas as an
ERA; making definition changes to the original ordinance, setting forth the time
periods in which a deduction is allowed, and establishing other procedures for
obtaining deductions (see Resolutions 2-1987, 11-1989, 11-1991, 3-1996,
Ordinances 72-1996, 90-1996, 113-1997, 19-2000, 29-2006, 31-2007, and 65-
2013); and
WHEREAS, Indiana Law 6-1.1-12.1-3(e) establishes uses in which deductions may not be
approved by the designating body; and
WHERAS, The Common Council desires to clarify that certain offices being redeveloped or
rehabilitated within an Economic Revitalization Area may be considered for
personal property tax deductions if they meet the criteria provided herein.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of
Richmond, Indiana, that:
1. Consistent with Ordinance 66-2013 passed on December 16, 2013, office shall be
defined as a place in which business, professional, and/or clerical activities are
performed for clientele on a national or international level.
2. The Common Council will consider personal property tax deductions for certain
offices if they meet the definition of an office established herein and comply with
all other provisions of Indiana Law and ordinances established by the Common
Council for deductions from assessed value and if the following criteria are met:
a. The applicant commits to a minimum investment in new information
technology equipment (as defined in IC 6-1.1-12.1-1) that is valued at
$150,000.00; and
b. The applicant commits to create a minimum of ten (10) new, full-time
jobs within one (1) year; and
C. The applicant commits to pay an average hourly wage of one and one-half
times the state minimum wage; and
d. The applicant commits to provide health insurance for its employees
hired after Common Council approves the application for abatement.
3. If the above criteria are met, the Common Council may approve an application to
allow the personal property deduction to follow the two (2) year schedule [Year 1:
100%; Year 2: 50%], as adopted in Richmond City Ordinance Number 65-2013
for Personal Property, and there shall be no deductions on said equipment
following the second year.
PASSED AND ADOPTED this 3`d day of February 2014, by the Common Council of the City of
Richmond, Indiana.
I:1
(J. Clakon Miller)
(Karen Chasteen, IAMC, MMC)
1
President
PRESENTED to the Mayor of the City of Richmond, Indiana, this 4th day of February, 2014, at
9:00 a.m.
,� s �C' k
(Karen Chasteen, IAMC, MMC)
AP ROVED by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this :!�_/ day of
14, at 9:05 a.m.
Mayor
(Sarah L. Hutton)
ATT , Jerk
(Karen Chasteen, IAMC, MMC)