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Home My Public Portal About19-1989-20 RESOLUTION NO. 1989-20 AMENDED RESOLUTION APPROVING STATEMENT OF BENEFITS FOR INB NATIONAL BANK WHEREAS, the Common Council of the City of Greencastle on May 10, 1988, by Resolution No. 1988-23 declared the following described real estate within the City as an economic revitalization area under the terms and provisions of I.C. 6-1.1- 012.1-1.5: Tract II: H.A. Parts Products of Indiana Co. Situate in the State of Indiana, County of Putnam and being a part of the Northwest quarter, Section 24, Township 14 North, Range 4 West of the Second Principal Meridian, more particularly described to-wit: Commencing at the Northwest corner of Section 24, Township 14 North, Range 4 West; thence South 00 degrees 52 minutes West 90.11 feet with the West line of said Section 24 to the South right-of-way line of Indiana State Road W240; thence with said South right-of-way Southeasterly 329.70 feet on a curve to the right having a radius of 28532.90 feet and subtended by a long chord bearing South 88 degrees 16 minutes 36 seconds East a distance of 329.70 feet to an iron pin and the true point of beginning of the real estate herein described; thence continuing with said South right-of-way Southeasterly 279.11 feet on a curve to the right having a radius of 28532.90 feet and subtended by a long chord bearing South 87 degrees 39 minutes 49 seconds East a distance of 279.11 feet to an iron pin; thence South 87 degrees 23 minutes 00 110 seconds East 799.76 feet to a concrete right-of- way monument; thence South 81 degrees 40 minutes 22 seconds East 50.25 feet to an iron pin; thence South 87 degrees 23 minutes 00 seconds East 100.00 feet to an iron pin; thence North 86 degrees 53 minutes 53 seconds East 28.21 feet to an iron pin; thence leaving the South right-of-way line of the aforesaid Indiana State Road 240 South 00 degrees 18 minutes 00 seconds West 618.97 feet to an iron pin; thence North 89 degrees 42 minutes 00 seconds West 1267.27 feet to an iron pin; thence North 01 degree 16 minutes 25 seconds East 670.70 feet with an established property fence line to the point of beginning, containing 18.71 acres, more or less. Subject to all rights-of-way and pertinent easements of record. and WHEREAS, a copy of said Resolution was published to I.C. 5- 3-1, and after due publication, a public hearing was held on June 14, 1989; and WHEREAS, the Common Council of the City of Greencastle on June 14, 1988, passed Resolution No. 1988-27, "A Resolution Confirming A Resolution Declaring an Economic Revitalization Area passed by the Common Council of the City of Greencastle, Indiana, on the 10th day of May, 1988". WHEREAS, pursuant to I.C. 6-1.1-12.1-4.5, INB NATIONAL BANK on April 24, 1989, filed its Statement of Benefits (Form SB-1) , a copy of which is attached hereto as Exhibit "A"; and WHEREAS, the Common Council of the City of Greencastle, pursuant to I.C. 6-1.1-12.1-4.5, has reviewed the Statement of Benefits; NOW, THEREFORE BE IT RESOLVED by the Common Council of the City of Greencastle, Indiana, as follows: 1. That the estimate of the cost of the new manufacturing 010 equipment is reasonable for equipment of that type. 2. That the estimate of the number of individuals who will be employed can be reasonably expected to result from the installation of the new manufacturing equipment. 3. That the estimate of the annual salaries of those individuals who will be employed can be reasonably expected to result from the proposed installation of 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 installation of new manufacturing equipment. 5. That the totality of benefits is sufficient to justify the deduction. That the Common Council of the City of Greencastle, Indiana, further RESOLVES that the deductions pursuant to I.C. 6-1.1-12.1- 4.5 for INB NATIONAL BANK are hereby approved. 1 / PASSED and RESOLVED this /c 0day of(,1�ypfci t,(�Q 1989. COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA Sheri Rosgh ll,, �rl j2 Sim Conway 110 Susan V. Murray Robert P. Sedlack Michael W. Rokicki Approved and signed by me this 12th day o April, 1989, at 9J .)) o'clock, ( ..m. Michael M. Harmless Mayor ATTEST: C)-1f.,(t./L,Lx Jtdi h Berry, ((!(_) Cie -Treasurer SYNOPISIS This resolution approves the Statement of Benefits for INB National Bank which owns molds and equipment which will be leased to H. A. Parts Product of Indiana Co. • �� STATEMENT OF BENEFITS STATE BOARD OF TAX COMMISSIONERS • State Form 27167(7-e7) ti p' / Form SBA Is prescribed by the State Board of Tax Commlasibners(1967) �'� Confidential Statement: The records in this series are CONFIDENTIAL according to Indiana Code 6-1.1.33-9. s INSTRUCTIONS:(I.C.6-1.1-12.1) THIS PAGE TO BE COMPLETED AT APPUCANr • 1. This statement must be submitted to the body designating the economic revitlllzat/on area BEFORE a person acquires new menulecturing equipment or begins the redevelopment or rehabilitation o/real property/or which the person wishes to claim a deduction. Effective July 1, 1987. 2. if a person is requesting the designation of an economic revitalization are.,this form must be submitted at the same time the re- quest is submitted. 3. Approval of the designating body(City Council, Town Board,County Council.etc.)must be obtained before a deduction may be approved. 4. To obtain a deduction Form 322 ERA,Real Estate Improvements end/or Form 322 ERA/PP,New Machinery,must be flied with the county auditor. With respect to reel property,Form 322 ERA must be filed by the later of(1)May 10 or(2)thlrty(30)days alter a notice of Increase In real properly assessment Is received from the township assessor. form 322 ERA/PP must be flied between March 1 and May 15 of the essessm.nt year In which new manufacturing equipment is Installed, unless a filing extentlon has been obtained.A person who obtains a filing extentlon must file the form between March 1 and June 14 of that year. Name of Designating Body County Common Council of the City of Greencastle Putnam Name of Taxpayer INB National Bank Address of Taxpayer(Street, city, county) ZIP Code One Indiana Square, Indianapolis , Indiana 46266 SECTION I LOCATION,COST AND DESCRIPTION OF PROPOSED PROJECT Location of property if different from above Greencastle Taxing District B .A . Parts Products of Indiana Co . , 2200 S . R . 240 East , Greencastle Cost and description of real property Improvements and I or new manufacturing equipment to be acquired: New equipment consisting of molds and related equipment for injection flding machines , extrusion lines , and other machinery and equipment for 1,.-nufacturing automotive trim. Equipment is to be leased to and used by B .A . Parts Products of Indiana Co . Cost is estimated to be $6 million . Estimated Starting Date Estimate Completion Date (Attach additional sheets If needed) 4/20/89 5/89 SECTION II ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT Current Number Salaries Number Retained Salutes Number Additional Salaries 0 0 0 0 209* $3 , 649 , 200* • SECTION III ESTIMATE TOTAL COST AND VALUE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS MACHINERY COST ASSESSED VALUE COST ASSESSED VALUE Current Values 0 • Plus estimated values of proposed project ** 6 , 000 , 000 1 , 3 U U , U U U Less: Values of any property being replaced 0 U Net estimated values upon completion of project 6 , 0 0 0, U 0 0-1 , 3 0 0 , 0 0 0 SECTION IV OTHER INFORMATION REQUIRED BY THE DESIGNATING BODY : *Figures shown are for H .A. Parts Products of Indiana Co . which will use the - equipment in its plant . See, Resolutions 1988-23 , 1988-27 , 1988-38 . Estimated employment levels while plant is phasing in full production are : 7/89 -- 81 ; 7/90 -- 179 ; 7/91 -- 209 . * *Equipment shown on this Statement of Benefits is to be used in conjunction rth , and is in addition to, the equipment owned by Wilmington Trust which is to he leased to H .A. Parts Products of Indiana Co. • SI stun f Au 4 R t orizpepresentative I hereby certify that the representations on this statement are true. �ltle �-s- CF� Da a of Stgnsture Telephone Number Vice President Apr i 1 21 , 1989 31 7-7Afi-5I ?A