HomeMy Public PortalAbout07-2008-7 ertrT9
,.-" RESOLUTION NO. 2008 - 7
A RESOLUTION REAF1'IRMING RESOLUTION 2006-30 AND DECLARING AN
ECONOMIC REVITALIZATION AREA AND RECOMMENDED TAX DEDUCTION
(CHIYODA USA CORPORATION)
WHEREAS,the laws of the State of Indiana,specifically I.C.6-1.1-12.1-1,et.Seq.,provide
for the creation of economic revitalization areas within the corporate limits of the City of
Greencastle,Putnam County,Indiana,for the general purpose of providing property tax deductions
to encourage private redevelopment of areas which have become undesirable for,or impossible of,
normal development and occupancy because of a lack of development, cessation of growth,
deterioration of improvements or character of occupancy,age,obsolescence,substandard buildings
or other factors which have impaired values or prevent normal development of property or use of
property; and,
WHEREAS,the term"economic revitalization area"also includes any area where a facility
or group of facilities that are technologically,economically or energy obsolete are located and where
the obsolescence may lead to the decline in employment and tax revenue; and,
WHEREAS, "redevelopment" means the construction of new structures in economic
revitalization areas either on unimproved real estate or on real estate upon which a prior#11-N structure is demolished to allow for new construction; and,
WHEREAS, "rehabilitation" means remodeling, repair or betterment of property in any
manner or any enlargement or extension of property; and,
WHEREAS,pursuant to applicable laws of the State of Indiana,the Common Council of the
City of Greencastle may create and/or continue said economic revitalization area through the
adoption of a resolution; and,
WHEREAS,the need exists to continue an economic revitalization area in order to encourage
private redevelopment in the City of Greencastle, Putnam County, Indiana; and,
WHEREAS, Chiyoda USA Corporation has planned the economic revitalization of their
operations by investing up to $660,000 plus ancillary costs in new manufacturing equipment to
support additional operations resulting in the retention of 134 jobs at their facility. Chiyoda USA
Corporation seeks a tax deduction pursuant to I.C. 6-1.1-12.1, et. seq.; and,
WHEREAS,Statement of Benefits Form(Form SB-1/PP 51764),said form approved by the
Department of Local Government Finance,has been submitted to the Common Council on June 26,
2008,prior to the installation of new manufacturing equipment on such real estate by Chiyoda USA
Corporation and that such Statement of Benefits are attached hereto and marked"Exhibit A"; and,
olf*,, WHEREAS,the Common Council of the City of Greencastle passed Resolution 2006-30 on
December 12,2006 and passed Resolution 2007-1 on January 9,2007 designating the Chiyoda USA
plant site an economic revitalization area through February 28, 2009; and,
WHEREAS,the Common Council of the City of Greencastle advertised a public hearing for
July 8, 2008; and,
WHEREAS, the Common Council of the City of Greencastle, pursuant to the laws of the
State of Indiana, does now hereby find that:
1. The estimate of the value of the new manufacturing equipment is reasonable for
projects of that nature;
2. The estimate of the number of individuals who will be employed or whose
employment will be retained can be reasonably expected to result from the proposed
described installation of new manufacturing equipment;
I
3. The estimate of the annual salaries of those individuals who will be employed or
whose employment will be retained can reasonably be expected to result from the
proposed described redevelopment or rehabilitation and 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 described redevelopment or rehabilitation
and installation of new manufacturing equipment.
5. The totality of the benefits is sufficient to justify a deduction.
THEREFORE, based upon these findings, BE IT RESOLVED THAT THE COMMON
COUNCIL OF THE CITY OF GREENCASTLE on this 8th day of July,2008,pursuant to I.C.6-1.1-
12.1-1, et. seq., deems there to be a need to establish an economic revitalization area and that said
economic revitalization area shall be defined as follows:
Part of the Northwest Quarter of Section 24,Township 14 North Range 4 West of the
Second Principal Meridian, Putnam County, Indiana, described as follows:
Commencing a 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 28,532.90 feet and subtended by a long chord bearing South 88 degrees
16 minutes 36 second 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 28,532.90 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 second 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.
AND ALSO:
Part of the Northwest Quarter of Section 24,Township 14 North Range 4 West of the
Second Principal Meridian, Putnam County, Indiana, described as follows:
4 Commencing a 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 28,532.90 feet and subtended by a long chord bearing South 88 degrees
16 minutes 36 second East a distance of 329.70 feet;thence leaving said South right-
of-way line South 01 degrees 16 minutes 25 seconds West 670.70 feet with an
established property line fence to an iron pin marking the Southwest corner of an
18.71 acre tract and the TRUE POINT OF BEGINNING of the real estate herein
e"'` described; thence South 89 degrees 42 minutes 00 seconds East 1,267.27 feet to an
iron pin marking the Southeast corner of said 18.71 acre tract; thence South 00
degrees 18 minutes 00 seconds West 616.17 feet to an iron pin; thence North 89
degrees 42 minutes 00 seconds West1,277.74 feet to an iron pin; thence North 01
degrees 16 minutes 25 seconds East 616.26 feet with an established property line
fence to the Point of Beginning.
EXCEPT:
Part of the Northwest Quarter of Section 24,Township 14 North Range 4 West of the
Second Principal Meridian, Putnam County, Indiana, described as follows:
Commencing a 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 28,532.90 feet and subtended by a long chord bearing South 88 degrees
16 minutes 36 second East a distance of 329.70 feet;thence leaving said South right-
of-way line South 01 degrees 16 minutes 25 seconds West 985.73 feet to the POINT
OF BEGINNING of the real estate herein described; thence South 89 degrees 42
minutes 00 seconds East 1,272.62 feet; thence South 00 degrees 18 minutes 00
seconds West 301.18 feet; thence North 89 degrees 42 minutes 00 seconds West
1,277.74 feet;thence North 01 degree 16 minutes 25 seconds East 301.23 feet to the
point of beginning, containing 8.82 acres of land more or less and subject to any
easements, rights-of-way, and restrictions of record.
/1"•,, Commonly known as 2200 East State Road 240
THEREFORE,the Common Council of the City of Greencastle does recommend a deduction
of assessed value for a period of seven(7)years as a result of the installation of new manufacturing
equipment, all as set forth in I.C. 6-1.1-12.1-4.5.
The Common Council of the City of Greencastle does NOT recommend a deduction or tax
abatement for special tooling nor does Chiyoda USA Corporation request such abatement.
The Common Council of the City of Greencastle further recommends and approves the
application for the deductions herein for equipment installed pursuant to the Statement of Benefits
from the approval of this resolution and during the twenty (20) ensuing months, July 1, 2008 to
February 28, 2010.
PASSED AND RESOLVED by the Common Council of the City of Greencastle at its
regular meeting this 8th day of July, 2008.
COMMON COUNCIL OF THE CITY OF GREEN ASTLE, IND NA
Jinsi S. Bingham .dim ohen
it
M N. Hammer ohn A. Lanie
Terry J rr4th
Approved and signed by me this 8th day of July, 2008 at 'L p.m. o'clock.
Susan V. Murray, Mayor
ATST: 7*Z_. s's)
Teresa P. Glenn, Clerk-Treasurer
ii, ''' 'a� STATEMENT OF BENEFITS FORM SB-1 /PP
i'• PERSONAL PROPERTY
State Form 51764(R/1-06)
,dIk s 44 Prescribed by the Department of Local Government Finance PRIVACY NOTICE
The cost and any specific individual's
salary information is confidential;the
balance of the filing is public record
per IC 6-1.1-12.1-5.1(c)and(d).
INSTRUCTIONS:
1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body requires
information from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise this statement must be submitted
to the designating body BEFORE a person installs the new manufacturing equipment and/or research and development equipment,and/or logistical distribution
equipment and/or information technology equipment for which the person wishes to claim a deduction. "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 installation of the new manufacturing equipment
and/or research and development equipment and/or logistical distribution equipment and/or information technology equipment,BEFORE a deduction may
be approved
3. To obtain a deduction,a person must file a certified deduction schedule with the person's personal property return on a certified deduction schedule(Form
103-ERA) with the township assessor of the township where the property is situated. The 103-ERA must be filed between March 1 and May 15 of the
assessment year in which new manufacturing equipment and/or research and development equipment and/or logistical distribution equipment and/or
information technology equipment is installed and fully functional,unless a filing extension has been obtained. A person who obtains a filing extension must
file the form between March 1 and the extended due date of that year.
4. Property owners whose Statement of Benefits was approved after June 30, 1991, must submit Form CF-1/PP annually to show compliance with the
Statement of Benefits. (IC 6-1.1-12.1-5.6)
5. The schedules established under IC 6-1.1-12.1-4.5(d)and(e)apply to equipment installed after March 1, 2001. For equipment installed prior to March 2,
2001, the schedules and statutes in effect at the time shall continue to apply. (IC 6-1.1-12.1-4.5(f)and(g))
SECTION 1 TAXPAYER INFORMATION
Name of taxpayer
Chiyoda USA Corporation
Address of taxpayer(number and street,city,state,and ZIP code)
2200 State Road 240 East Greencastle, IN 46135
Name of contact person Telephone number
Pam Dean,Assistant Accounting Manager(ext 232) (765)653-9098
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT
Name of designating body Resolution number(s)
Greencastle Common Council 2006-30 and 2008-7
Location of property County DLGF taxing district number
2200 State Road 240 East Greencastle Putnam 67008
Description of manufacturing equipment and/or research and development equipment ESTIMATED
and/or logistical distribution equipment and/or information technology equipment.
(use additional sheets if necessary) START DATE COMPLETION DATE
Manufacturing Equipment 07/01/2008 06/01/2009
The addition of two (2) injection molding machines and
one (1) blow molding machine. R&D Equipment
Logist Dist Equipment
IT Equipment
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT
Current number Salaries Number retained Salaries Number additional Salaries
134 4,300,000.00 134 4,300,000.00 0 0.00
SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT
d 2 the MANUFACTURING R&D EQUIPMENT LOGIST DIST IT EQUIPMENT
NOTE:Pursuant to IC 6-1.1-12.1-5.1
( )( ) EQUIPMENT EQUIPMENT
COST of the property is confidential. COST ASSESSED COST ASSESSED COST ASSESSED COST ASSESSED
VALUE VALUE VALUE VALUE
Current values
Plus estimated values of proposed project 660,000.00
Less values of any property being replaced 7,151.00
Net estimated values upon completion of project 652,849.00
SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER
Estimated solid waste converted(pounds) Estimated hazardous waste converted(pounds)
Other benefits.
SECTION 6 TAXPAYER CERTIFICATION
I hereby certify that the representations in this statement are true.
Signature of authorized representative ' ,, Title Date signed(month,day,year)
(4, ., - .—,.—A.) Executive Vice President, 06/25/2008
1 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
iAllkiki adopted in the resolution previously approved by this body. Said resolution, passed under IC 6-1.1-12.1-2.5,provides 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 20 months calendar years*(see below). The date this designation expires
is February 28,2010
B .The type of deduction that is allowed in the designated area is limited to:
1. Installation of new manufacturing equipment; ❑✓ Yes EN o
2. Installation of new research and development equipment; ❑Yes EN o
1 3. Installation of new logistical distribution equipment. ❑Yes EN o
4. Installation of new information technology equipment; ❑Yes Q N o
C. The amount of deduction applicable to new manufacturing equipment is limited to $$ TrS0 750,000.00 cost with an assessed value of
D. The amount of deduction applicable to new research and development equipment is limited to $ cost
with an assessed value of $ .
E .The amount of deduction applicable to new logistical distribution equipment is limited to$ cost with an assessed value of
$
F. The amount of deduction applicable to new information technology equipment is limited to$ cost with an assessed value of
$
G. Other limitations or conditions(specify)
H. The deduction for new manufacturing equipment and/or new research and development equipment and/or new logistical distribution equipment and/or
new information technology equipment installed and first claimed eligible for deduction on or after July 1,2000,is allowed for:
Ell year El years **For ERA's established prior to July 1,2000,only a
❑2 years ❑r 7 years 5 or 10 year schedule may be deducted.
El years 1E18 years
❑4 years El years
❑5 years** ❑10 years**
Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable 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)
Susan V. Murray, Mayorv\�/, {, ,v (765)653 3100 07/08/2008
Attested by: � j \Qesignated body
Teresa Glenn, Clerk-Treasurer_ j„,./ Z5reencastle Common Council
*If the designating body limits the time period during which an area is an economic revitalization 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 6-1.1-12.1-4.5
•
EQUIPMENT LIST FOR NEW ADDITIONS TO ERA DEDUCTION MARCH 1,20
4iirkili.,, '
PERSONAL PROPERTY IN ECONOMIC REVITALIZATION AREA
' State Form 52515(1-06) FORM 103-EL
a ..• Prescribed by the Department of Local Government Finance
PRIVACY NOTICE
The records in this series are
confidential according to IC
6-1.1-35-9.
INSTRUCTIONS:
I. This schedule must be filed when any new manufacturing,research and development,logistical distribution and/or information technology equipment
that is claimed on the schedule of deduction from assessed valuation(Form 103-ERA)has been installed after the prior year assessment date.
2. A separate list must be completed for EACH APPROVED abatement(Form SB-1/PP). The equipment list is attached to the corresponding Form 103-
ERA and made part of the Business Personal Property Return(103 Long)filed with Township Assessor not later than May 15 of each year unless an
extension of up to thirty(30)days is granted in writing.
3. A taxpayer's internal list may be attached to this form. Any data omitted from that taxpayer format must be added here,using the Reference Number
Column to cross reference to the taxpayer formatted list.
4. The purpose column is to describe the item in sufficient detail to assist the Assessing Official to determine that the item is eligible for abatement as
equipment as defined in IC 6-1.1-12.1-1. An entry may be left blank if the item name is self-describing.
SECTION 1 TAXPAYER INFORMATION
Name of taxpayer Name of contact person
Chiyoda USA Corporation Pam Dean, Assistant Accounting Manager (ext 232)
Address of taxpayer(number and street,city,state and ZIP code) Telephone number
2200 State Road 240 East Greencastle, IN 46135 I(765)653-9098
County Township DLGF taxing district number
Putnam Greencastle 67008
SECTION 2 ECONOMIC REVITALIZATION AREA INFORMATION
Name of body designating the Economic Revitalization Area Resolution number Length of abatement(years)
Greencastle Common Council 2006-30&2008-7 Seven Years
SECTION 3 ABATED EQUIPMENT LIST
REFRENCE INSTALLATION ITEM PURPOSE4 COST PER POOL LINE ASSESSOR USE ONLY
NUMBERS DATE 50 IAC 4.2- NUMBER
Blow Molding Machine
Injection Molding Machine
Injection Molding Machine
A
❑ Check if additional Form 103-EL are attached for this abatement(103-ERA). This is Equipment List_of
U Check if taxpayer's internal list is attached.