HomeMy Public PortalAbout144-1997 - Tax Abatement Dana CorpORDINANCE NO. 144-1997
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
Dana Corporation — Machining Plant
New Jobs: 15 Jobs Retained: 156
Estimated New Value: $590,000.00
Dated: November 19, 1997//
l�
Passed and adopted this day of,
of Richmond, Indiana.
8
199/I, by the Common Council of the City
,President
ATTES X ) , City Clerk
(Norma Schroeder)
PRESENTED to the Mayor of the City of Richmond, Indiana, this lit day o
1991, at 9:00 a.m.
City Clerk
(Norma Schroeder) i
ROVED by me, Dennis Andrews, Mayor of the City of Richmond, India a is day
of 199X, at 9:05 a.m.
Mayor
� 1
ATTEST: City Clerk
(Norma chroeder)
NOU-12-1997 15:56 P.02
451
V.-
5IAltM=41 Vt" 0=14 .rl1 I�Solte Form 27197 (fi5 1 11-95) II I it 1�(!/ SB - AForm SS - 1 is prtrsa+bW by the State 9aard of Tax CcRlnm Woners. 1982
�1' NOV 2 61997
1
INSTRUCTIONS:
1. This statement must be submitted to the body designating rlte economic revitilization ar 1i ng if the designating body requires infor
madon from the applicant in making its decision about wnethier to designate an l: 0m, mW eg if th rnis statement must be submtteec
to the designating body BEFORE a person installs the new0ranuiacwrtng equipment ment or rehabilitation of real property to
which the person wishes to claim a deduCtron. Proje=' planned or Committed to after July 1, 1987 and areas designated after July 1. 1967 require j
STATEMENT OFSENEFrrS. (iC 6-1.1-12-1)
Z Approval of rho designating body (City Council. Town Board, County Council, etc.) must be obtained prior to initiation of the redevelopment or rehabdicadon,
or prior to installation of rho new manufacrunng equipment, WFORE a deduction may be approved
3 To obtain a oeduction, Form 322 ERA. Real Estate Improvements and / or Form 322 ERA / PP, New Madzkxwl, must be filed wrttt cite aaunry auditor. Wrd
respect to real property, Form 322 ERA must be tiled by the liter of: (1) May 10: or (2) thirty (30) days after a noose of 0wrease in real property asseasnterr
is remved from Me township assessor. Form 322 ERA / PP must be filed between March 1 and May 15 of Ow assessment year in wf h new manufac
Luting equipment becomes assessable, unless a Bing extension Etas been obtained A person who obtains a NkV awrension must Ale Ote form betweer
Math 1 and rune 74 of that year.
4 Properry owners whose Statement of Benefits was approved. after June 30. 1991 must submit Form CF - 1 annually to show Wmplianes wftlt the Sta OMM
of9enefrls. (iC6-1.1-12.1-5.6)
Not taxpayer
cLO
Address atUxpayer (s<r' and humber, City, Stator and i)P c9idq)
`
Name of cant= person 1 t-letepnone number
Location
=.w
Description of real property improvements and &Q9 new manutactunng equipme
(use admtionel sheets it necessary)
o'do-\ C.' N C �i�-r �c�e. �aC�' r v,
`�► S A o, Oc'c-
county
Real State
New Mfg Equipment
number
1ct
mpA
ESTIMATED
%te Completion Date
:?/. / a Ao,"�-
NQTE Pursuam to IC t31.1-121-5.1 (d) (2) Vie
COST of site properly is corfiderttial. Assessrd vsltle Assessed Vakw
Current values 6 I
PUS esdmaled values of proposed 0 lam 0 O
Lass vaLm of arty property beirig replaced o
Net emim med values u00e completion of 0MOM _ d
Es n=w solid waste amm sited (pounds)
Outer donef ts:
I heredy Certify Thkt the recresentations in this statement are trite.
Signature of aumarrzeo represenome Title
DI ik (;4/�- �rrzr'04c�
— o ---
day, year)
TOTAL P.02