HomeMy Public PortalAbout02-1990-2 RESOLUTION NO. 1990-2
�.� A RESOLUTION APPROVING STATEMENT OF BENEFITS
FOR BANC ONE EQUIPMENT FINANCE, INC.
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-
1.1-12.1-1.5:
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
#240; thence with said South right-of-way line
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 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, BANC ONE
EQUIPMENT FINANCE, INC. on January 5, 1990, 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 equipment is reasonable for equipment
of that type.
2. That the estimate of the number of individuals who
will be employed can be reasonable 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 BANC ONE EQUIPMENT FINANCE, INC. are hereby
approved.
PASSED and RESOLVED this 13th day of February, 1990.
COMMON COUNCIL OF THE CITY
OF GREENCASTLE, INDIANA
Sheri Z. Roach
Tim Conway
Susan V. Murray
Robert P. 8 dlack
i hael W. okicki
Approved and signed by me this 13th day of February,
1990, at o'clock, .m.
Michael M. Harmless
Mayor
ATTEST:
Judith Berry,
Clerk-Treasurer
f'a°• A.F STATEMENT OF BENEFITS STATE BOARD OF TAX COMMISSIONERS
I State Form 27187(7-87)
Form S13-1 is prescnbed by the State Board of Tax Commissioners(1987)
as
Confidential Statement:The records in this series are CONFIDENTIAL according to Indiana Code 8-1.1-35.9.
INSTRUCTIONS:(I.C.8.1.1.12.1)THIS PAGE TO BE COMPLETED BY APPLICANT
1. This statement must be submitted to the body designating the economic revitlllzatlon area BEFORE a person acquires new
manufacturing equipment or begins the redevelopment or rehabilitation of real property tor which the person wishes to claim a
deduction.Effective July 1, 1987.
2. II a person is requesting the designation of an economic revitalization area.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 s deduction may be
approved.
4. To obtain a deduction Form 322 ERA,Real Estate Improvements and/or Form 322 ERA/PP,New Machinery,must be flied with
the county auditor.With respect to real property,Form 322 ERA must be tiled by the later of(1)May 10 or(2)thirty(30)days atter a
notice of Increase In real property assessment 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 manufacturing equipment is installed. unless a filing extention hes
been obtained.A person who obtains a filing extention 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
Banc One Equipment Finance, Inc.
Address of Taxpayer(Street.city,county) ZIP Code
1099 North Meridian Street, Indianapolis, Indiana 46204
SECTION:i LOCATION;COST AND DESCRIPTION OF PROPOSED PROJECT •
Location of property if different from above Taxing District
H.A. Parts Products of Indiana Co. , 2200 S.R. 240 East, Greencastle Greencastle
Cost and description of real property improvements and i or new manufacturing equipment to be acquired:
few equipment consisting of press machines, injection molding machines, extrusion lines,
ending and nainting equipment, and other machinery and equipment for manufacturing
automotive trim. Equipment is to be leased to and used by H.A. Parts Products of Indiana
Co. Cost is estimated to be $6 million.
Estimated Starting Date Estimate Completion Date
(Attach additional sheets if needed) 02/01/90 07/01/90
SECTION 11 ESTIMATE OF EMPLOYEES AND SALARIES'.AS RESULT OF PROPOSED PROJECT
Current Number Salaries Number Retained Salaries Number Additional Salaries
0 0 0 0 209* S3,649,200*
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SECTION III ESTIMATE TOTAL COST AND VALUE OF PROPOSED PROJECT
REAL ESTATE IMPROVEMENTS I MACHINERY
COST ASSESSED VALUE I COST I ASSESSED VALUE!
Current Values I 0 0 I
Plus estimated values of proposed protect I 16,000,000 1 ,300,000
Less: Values of any property being replaced I I 0 I 0
Net estimated values upon completion of project I 16,000,000 I 1,300,000
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. Estimated employment levels while plant is phasing in full production are:
7/90 -- 179; 7/91 -- 209.
**Equipment shown on this Statement of Benefits is to be used in conjunction with and in
addition to that shown on prior Statements filed in March and April, 1989.
Signatures�Tv Authori Retires tame
I hereby certify that the representations on this statement are true. L / 7
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Title \ I 10oi Signature Telephone Number
V / t - 2-I 6-`1 317 - 6 I`i� ')1 C6