HomeMy Public PortalAbout031-1996 Tax Abatement The WoodshopORDINANCE NO. 31-1996
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 AND WAIVING
NONCOMPLIANCE WITH THE TIME OF FILING
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; and
WHEREAS, Indiana law enables a designating body to waive noncompliance by
having a public hearing when a person desires to claim a deduction
from the assessed value but has failed to submit the completed
statement of benefits form before the initiation of the redevelopment
or rehabilitation, or the installation of new manufacturing
equipment.
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
The Woodshop
New Jobs: 0 Jobs Retained: 4
Estimated New Value: $1,999
Dated: December 12, 1995
Be it further ordained that the above property owner's noncompliance with the requirement
to submit the completed statement of benefits form before the initiation of the
redevelopment or rehabilitation of real estate improvements or the installation of new
manufacturing equipment is hereby waived pursuant to Indiana Code 6-1.1-12.1-11.3 (a)
(2) and (c) after conducting a public hearing upon said requests for waiver this same date,
which public hearing was duly advertised in the Palladium -Item newspaper on
(Y\A-A o , 1996.
Passed and adopted this E' day of 1996, by the Common
Council of the City of Richmond, Indiana.
Diu � , President
(Geneva Allen)
ATTES � L_ City Clerk
(Norma ceder)
P SENTED to the Mayor of the City of Richmond, Indiana, this day of
1996, at 9:00 a.m.
tee_ City Clerk
(Noryfia Schroeder)
APPROVED b e Dennis ndrews, Mayor of the City of Richmond, Indiana, this
L day of a , 1996, at 9:05 a.m. %!
' ,Mayor
(Dennis Andrews)
ATTEST:l�e�� c C1;Q Cit
y
(Norma Schroeder)
STATEMENT OF BENEFITS
State Form 27167 (R4 / 10.93)
Form SB - 1 is prescribed by the State Board of Tax Commissioners, 1989
l RECEI VED DEC 2
Year Abatemert Requeste
r-,� FORM
t 1995
INSTRUCTIONS:
1. This statement must be submitted to the body designating the economic revitilization area prior to t ubILc Fq?carirlg)f tha designating body requires infor-
mation from the applicant in making its decision about whether to designate an Economic Revitiliza Are,,7_ Othe rtiyisg;ijl�s.statement must be submitted
to the designating body BEFORE a person installs the new manufacturing equipment, or BEFOREUhii edEvel&�M5e t 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 o1 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. With
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 I 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)
i Name of taxpayer
The Woodshop
Address of taxpayer (street and number, city, state and ZIP code)
434 N.W.L Street Richmond, In 47374
Name of contact person Telephone number
Royce Bowers, Owner (317)935-4066
Name of designating body Resolution number
Common Council of the City of Richmond, Indiana 0-1984 as Amended 11-19
Location of property County Taxing district
434 N.W.L Street Richmond, In 47374 Wayne Richmond Corp.
Description of real property improvements and / or new manufacturing equipment to be acquired (use additional Estimated starting date
sheets if necessary)
10" Table Saw (See .Attached Invoice)
Purchased 9-27-95
Estimated completion date
current number Salaries Number retained Salaries Number additional Salaries
4 $65,832.00 4 65,832.00
NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the
COST of the property is confidential. Cost •Assessed Value
Cost Assessed Value
Current values
6,091
Plus estimated values of proposed project
1 999
Less values of any property being replaced
Net estimated values upon completion of project
SECTION 5 -OTHER BENEFITS PROMISED BY THE TAXPAYER
i
CERTIFICATIONSECTION 6 TAXPAYER
I hereby certify that the representations in this statement are true.
Sign au onze ` esentative
Title
Date signed (month, day, year)
OWNER
12-12-95
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