HomeMy Public PortalAbout06-1992-6 RESOLUTION NO. 1992-6
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 MARCH, 1992.
LOBDELL-EMERY MANUFACTURING COMPANY
WHEREAS, the Common Council of the City of Greencastle, Indiana,
did on the 10th day of March, 1992, pass a Resolution declaring an
economic revitalization area; and
WHEREAS, the Common Council did, pursuant to I.C. 6-1. 1-12 . 1-
2 . 5 (c) publish notice of the adoption and passage of such Resolution
and notice of the fact that the same would come on for public hearing
at a regular meeting of the Common Council on April 14, 1992, at 7: 30
o'clock, p.m. , at the Greencastle Middle School, Greencastle, Indiana;
and
WHEREAS, the Common Council of the City of Greencastle, Indiana,
has determined that it would be in the best interests of the citizens
of Greencastle, Indiana, if such Common Council defined and declared a
certain area within such City as an economic revitalization area; and
WHEREAS, I.C. 6-1. 1-12 . 1-1 to I.C. 6-1. 1-12 . 1-6 defines the
procedure for establishing such an economic revitalization area; and
WHEREAS, the Common Council desires to make available to persons
owning property in such economic revitalization area the right to a
deduction from the assessed value of property as defined in I.C. 6-
1. 1-12 . 1-3 and a deduction for new manufacturing equipment as defined
in I.C. 6-1. 1-12 . 1-4 . 5,
NOW THEREFORE, be it RESOLVED by the Common Council of the City
of Greencastle, Indiana, as follows:
1. That this Common Council hereby declares by description the
boundaries of the area to be declared herein to be an economic
revitalization area as follows:
Situated in the State of Indiana, County of Putnam and being
a part of the West half of the Northeast quarter of Section
29, Township 14 North, Range 4 West of the Second Principal
Meridian more particularly described to-wit:
Beginning at the Southwest corner of the West half of the
Northeast quarter of Section 29 , Township 14 North, Range 4
West; thence North 1752 feet with the West line of said
Northeast quarter to the centerline of a paved county road;
thence Northeasterly 1494 feet with said centerline to the
East line of the West half of said Northeast quarter; thence
leaving said centerline South 1327 feet with said East line
to the centerline of the Greencastle-Manhattan Road; thence
Southwesterly 1236. 4 feet with said centerline of the South
line of said West half quarter; thence West 815. 2 feet to
the point of beginning containing 57 acres more or less.
ALSO:
Situated in the State of Indiana, County of Putnam and being
a part of the East half of the Northeast quarter of Section
29, Township 14 North, Range 4 West of the Second Principal
Meridian more particularly described to-wit:
Beginning at the point of intersection of the West line of
the East half of the Northeast quarter of Section 29,
Township 14 North, Range 4 West and the centerline of the
Greencastle-Manhattan Road the said point of intersection
being 1124 feet North of the Southwest corner of said East
half; thence North 332 feet with said West line of the South
line of a 100 feet wide easement granted to the Public
Service Company of Indiana; thence South 72 degrees 28
minutes East 117 feet to the said West right-of-way line of
the Monon Railroad; thence Southwesterly 281 feet with the
West right-of-way to the centerline of the aforesaid
Manhattan Road; thence Southwesterly 30 feet with said
centerline to the point of beginning containing 0.45 of an
acre more or less.
2 . That the above described real estate is deemed by the Common
Council of the City of Greencastle to be an economic revitalization
area within the corporate limits of the City of Greencastle, Indiana,
which has become obsolete and not lending itself to normal development
because of the availability of other development ground within the
City which is qualified for tax abatement and because of a cessation
or lack of growth in the general area which is anticipated to lead to
the deterioration of the area and continued stagnation of employment
. w
in the area if not utilized as an area to promote industrial expansion
n
for the City of Greencastle.
3 . That in order to be competitive in retaining existing
industries within the City of Greencastle, Indiana, it is imperative
that such City offer to existing industries expanding in the above-
described area tax abatement as allowed by law.
4 . That the Common Council now RESOLVES that the above-
designated area shall be declared an economic revitalization area
under the terms and provisions of I.C. 6-1. 1-12 . 1-2 . 5
PASSED and RESOLVED this 14th day of April, 1992 .
COMMON COUNCIL OF THE CITY
OF GREENCASTLE, INDIANA
C f _,) -'
Thomas W. Roach Susan V. Murray
0114
V;"* .,(1,6,AL.2..),,k/ Q :\\-\_
Je a d D. Calbert Charles T. Miles
,1.644a \..
ichael W. Rokic i
/DApproved and signed by me this 14th day of April, 1992, at
•';Nd o 'clock, 6.m.
/ /
Michael M. Harmless,
Mayor
ATTEST:
(6)2}-z1L-1-(-T-
ith Be ry,
erk-Treasurer
rE sz�r�
di, 4s\ STATEMENT OF BENEFITS g, ;/ 9/9 FORM State Form 27167(R3/11-91) Received for filing:
'� SB - 1
• � Form SB•1 is prescribed by the State Board of Tax Commissioners,1989 ,
��` %�"/' The records In this series are CONFIDENTIAL according to IC 6 1.1.35-9 / jr
,s,s obe.0.7.21.-
Judi h Berry, Clerk- asurer
INSTRUCTIONS:
/1 This statement must be submitted to the body designating the economic revitilization area prior to the public hearing if the designating body requires inl
mation from the applicant in making its decision about whether to designate an Economic Revitilization Area. Otherwise this statement must be submits
to the designating body BEFORE a person installs the new manufacturing equipment, or BEFORE the redevelopment or rehabilitation of real property
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 committed to of
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 rehabilitatic
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. IN
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 assessmc
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 manuk
turing equipment is installed,unless a filing extension has been obtained. A person who obtains a filing extension must file the form between March 1 a
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)
SECTION 1 TAXPAYER INFORMATION
Name f taxp er
0 lJ/�LL -L=ir4- r ,,��i/i1Fle / .e/iz 60'mmt y
Address of taxparys (street and number,city,state and ZIP c9de)
J
/03-K L'_. SNc.-=/I/,M' d. d`'x /.2!�
AL/1'1/t, ol, , r,1A rot /
Name of ntact person Telephone number
err 7� (� ) 3-3/ ,/
y 7 )
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT .
Name of designating body / Resolution number
L4041,1+0," (�arn/ .(6_ Ole T1lz_= cf T�- Ot 4.---- 1Si , /A , /G��,,Z —6 O - c2
Location of property / Ta 7
County Taxi district j
31a e4,4-n/N4inl / . �}_/er;�/er.Sr , IA/ /rr/v4ti1 ur/✓ '
Tcription of real property improvements and/or new manufacturing equipment to be acquired(use additional Estimated starting dale ist//
ets if necessary)
Tr>9cl,/a0 "RIL% 4v' /1t�l .
Ers�tim ed co pletion date
(�/C7UUeL-g, / , -
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT /
Current number Salaries Number retained Salaries Number additional Salaries
v2-(v.O ,rvo, D Oo
--� � .�
7.► /700r o v�
SECTION 4 ESTIMATE' TOTAL COST AND VALUE OF PROPOSED PROJECT
Real Estate Improvements I _.Machinery
Cost Assessed Value Cost Assessed Value
Current values r/r of- 3/ - (/J y 111 P S( l� /9 /� iY any `�1 3 �OD oDs
Plus estimated v Iues proposed project �0 D_ f
Less values of any property being replaced �, _. O ODD -i7,vOv
Net estimated values upon completion of project ' y,,1 7,? 6 F ki. // /y3 ON) /T 4 J (� ?
1 V S/� /G1(J(o0D
' SECTION 5 OTHER BENEFITS PROMISED BY THE TAXPAYER
I
CTION 6 TAXPAYER CERTIFICATION
I hereby certify that the representations in this statement are true.
Signature of authorized represe tative Title
• Date signed(month,day,year)
Hwy -47- y,.
FOR USE OF THE DESIGNATING BODY ••
We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the
general standards adopted in the resolution previously approved by this body. Said resolution, passed under IC 6-1.1-12.1-2.5, pro-
vides for the following limitations as authorized under IC 6-1.1-12.1-2.
A. The designated area has been limited to a period of time not to exceed calendar years * (see below). The date this
designation expires is •
B. The type of deduction that is allowed in the designated area is limited to:
1. Redevelopment or rehabilitation of real estate improvements; ❑ Yes ❑ No
2. Installation of new manufacturing equipment; ❑ Yes ❑ No
3. Residentially distressed areas ❑ Yes ❑ No
C. The amount of deduction applicable for new manufacturing equipment installed and first claimed eligible for deduction after July 1,
1987, is limited to $ cost with an assessed value of$ ,
D. The amount of deduction applicable to redevelopment or rehabilitation in an area designated after September 1, 1988 is limited to
$ cost with an assessed value of$
E. Other limitations or conditions (specify)
F. The deduction for new manufacturing equipment installed and first claimed eligible for deduction after July 1, 1991is allowed for: I
❑ 5 years ❑ 10 years
Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reason-
able and have determined that the totality of benefits is sufficient to justify the deduction described above.
Approved:(signature and title of authorized member) Telephone number Date signed (month,day,year)
( )
Attested by: Designated body
* If the designating body limits the time period during which an area is an economic revitilization area, it does not limit the length of time
a taxpayer is entitled to receive a deduction to a number of years designated under IC 6-1.1-12.1-4 or 4.5 Namely: (see tables below)
NEW MANUFACTURING EQUIPMENT REDEVELOPMENT OR REHABILITATION •
OF REAL.PROPERTY IMPROVEMENT i
For Deductions Allowed Over A Period Oh c t ,..
For Deductions Allowed Over A Period Of:
Year of Five(5)Year Ten(10)Year Year of Three(3)Year Six(6)Year Ten(10)Year
• Deduction Percentage Percentage Deduction Deduction Deduction Deduction
1 St 100% 100% 1st 100% 100% 100%h
2nd 95% 95% 2nd 66% 85% 95%
3rd 80% 90% 3rd 33% 66% 80%
4th 65% 85% 4th 50% 65%
5th 50% 80% 5th 34% 50%
6th 70% 6th 17% 40%
7th 55% 7th 30%
8th 40% 8th 20%
9th 30% 9th 10%
10th 25% 10th 5%
FOR USE OF THE DESIGNATING BODY
We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets tl
videsral for the follow following limards itations ations as authorized resolution
underunder IC approved
1.1 12 by this body. Said resolution, passed under IC 6-1.1-12.1-2.5, pr
A. The designated area has been limited to a period of time not to exceed N/A/ calendar years ' (see below). The date th
designation expires is N/A
B. The type of deduction that is allowed in the designated area is limited to:
1. Redevelopment or rehabilitation of real estate improvements; ❑ Yes ►J No
2. Installation of new manufacturing equipment; 0 Yes ® No
3. Residentially distressed areas 0 Yes ® No
C. The amount of deduction applicable for new manufacturing equipment installed and first claimed eligible for deduction after July
1987, is limited to $ N/A cost with an assessed value of$ N/A
D. The amount of deduction applicable to redevelopment or rehabilitation in an area designated after September 1, 1988 is limited
$ N/A cost with an assessed value of$ N/A
E. Other limitations or conditions (specify) none
F. The deduction for new manufacturing equipment installed and first claimed eligible for deduction after July 1, 1991is allowed for
® 5 years 0 10 years
Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reason
able and have determined that the totality of benefits is sufficient to justify the deduction described above.
Approved:(signature and title of authorized member) Telephone number
\ '� Date signed(month,day,year)
t\� ^`/ , 5q8 n V. Murray, President (317 ) 653-3100 —
Attested by:
3 00 4-14 92
Designated body
uFi' th Berr , Clerk—Treasurer Common Council, City of Greencastle
�f the designating body limits the time period during which an area is an economic revitilization area, it does not limit the length of time
a taxpayer is entitled to receive a deduction to a number of years designated under IC 6-1.1-12.1-4 or 4.5 Namely: (see tables below)
NEWMANUFACTURINGEpU1P RENT REDEVELOPMENTORREHABILITATION
•
e. dCIEA OF REAL PROPERTY IMPROVEMENT
•. • ForDe dudio� ow �1W4/11PetioV 1- -'1:. , _
_. .•c• � ; � For Deduuitionn s�Illowed OveiA P.ieni�OP. . '—Year of Five(5)Year Ten(10)Year Year of• Deduction Percentage Percentage Three(3)onar Deductione(u)YearTen (10)Year
9 Deduction Deduction • Deduction
1st 100% 100%
1st 100% 100% 100%
2nd 95% 95%
3rd 80% 90% 2nd 66% 85% 95%
4th 80% 3rd 33% 66% 80%
654th 50% 85,° 4th 50% °
80% 50/°
6th 70% 6th 34% 50%
7th 55% 71h th
1 17% 40%
9th8th
40% 8th 30%
30%
I 20%
10th 25% 10th 10%
5%
•
•
0
IN