HomeMy Public PortalAbout033-1996 - Tax Abatement Richmond Baking CoORDINANCE NO. 33-1996
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
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:
REAL ESTATE - 10 YEAR
Richmond Baking Company
New Jobs: 1 Jobs Retained: 79
Estimated New Value: $30,000
Dated: April 19, 1996
Passed and adopted this day of 1996, by the Common
Council of the City of Richmond, Indiana.
esi ent
(Geneva Allen)
� LL
ATTEST: City Clerk
(Norma Schroeder)
ENTED to the Mayor of the City of Richmond, Indiana, this day of
1996, at 9:00 a.m.
�� e, ,City Clerk
(Norma Schroeder)
APVjROVED bT+ , Dennis Andrews, Ma
1 day of , 1996, at 9:C
i r
ATTEST:_ �
(Norma "Sc roeder)
this
Mayor
R.,, FUhr�1
STATEMENT OF BENEFITS FILINr, UNDE10 YEAR ABA � � � v � � $B - 1
Y+ 7• State Form 27167 (R3 / 11.91)
Form SB - 1 is prescribed by the State Board of Tax Comm,ssaners. 1989 i rD ,
The records in this series are CONFIDENTIAL according to IC 6-1.1-35-9 Hi i1 L 0 t�IG6
INSTRUCTIONS:
1. This statement must be submitted to the body designating the economic revitalization area prior to th public hearing if the designa in requires info
mation from the applicant in making its decision about whether to designate an Economic Revitilizati ment mu t be submittc
to the designating body BEFORE a person installs the new manufacturing equipment, or BEFORE the redevelopment or rehabilitation c al property f
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 t'
project' was planned and committed to by the applicant, and approved by the designating body prior to that date. 'Projects"planned or commuted to aft
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 rehabilitat;a
of 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 i PP, New Machinery, must be filed with the county auditor. Wi
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 assessme
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 manufa,
taring equipment is installed, unless a filing extension has been obtained. A person who obtains a filing extension must file the form between March 1 ar
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
Benefits. (IC 6-1.1-12.1-5.6)
•
• •
Name ottax l�ichmond Baking Comnany
Address of taxpayer (street and number, city, state and ZIP code)
529 North 6th Street Richmond, Indiana 47374
Name of cot ct person Te!ephene number
Dean Fleenor 1 ) 962-8535
Name of designating body Resolution number
Richmond Common Council
Location of property County Taxing district
Same Wa e Richmond
Description of real property improvements and I or new manufacturing equipment to be acquired (use additional Estimated slarting date
sheets if necessary) 2 -1- 9 6
Estimated completion date
Research and Development Lab 6-30-96
35,000
Cost ,Assessed Value Cost Assessed Value
3 215 20
570290
Current values
Plus estimated values of proposed project
30000
3000
Less values of any property being replaced
324529
570290.
Net estimated values upon completion of project
Companv needs research and development lab to develop new breading,
graham meal and cookie formulas for both existing and potential
customers. Lab staffed by product development personnel. Benefits
include the potential of more hours of work for existing employees.
I hereby certify that the
nature of authorized representative
tions in this statement are true.
�T-,fle
Vice President
Date signed (month, day, year)
4-19-96
I`�tc4mond Raking Company
4
i
&4"r W
C"ki.i . Crack—i
�?.�,a..d CJna�in9 poaw<t,
April 19, 1996
Janet Hibner, Administrator
Department of Law
City of Richmond
50 North 5th Street
Richmond, Indiana 47374
Dear Janet:
Please find enclosed a Statement of Benefits for our new
Research and Development Lab for which we are requesting a 10
year abatement. I trust you will take the necessary action
in order this Statement of Benefits may be approved by Common
Council.
If you should have any questions pertaining to the above, do
not hesitate to contact me..
Sincerely,
Dean A. Fleenor, CPA
Vice President/Controller
520 - 540 N. 61h Street • P.O. Box 698 • Rich"wnd, Indiana 47375 • Tel: 3171962-8535 • FAX: 3171962-2253