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HomeMy Public PortalAbout01-2011-4 SCANNED ,..� RESOLUTION NO. 2011 - 4 A RESOLUTION REAFFIRMING RESOLUTION 2011 - 2 AND DECLARING AN ECONOMIC REVITALIZATION AREA AND RECOMMENDED TAX DEDUCTION (CROWN EQUIPMENT 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 existing 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 said economic revitalization area through the adoption of a resolution; and, WHEREAS,the need exists to establish an economic revitalization area in order to encourage private redevelopment in the City of Greencastle, Putnam County, Indiana; and, WHEREAS,Crown Equipment Corporation has planned the economic revitalization of their operations by expanding their facility by 145,700 square feet at an estimated investment of$6.5 million and investing up to $10.95 million in new manufacturing equipment to support additional operations resulting in the retention of 302 jobs and the creation of 143 new jobs at their facility. Crown Equipment Corporation seeks a tax deduction pursuant to I.C. 6-1.1-12.1, et. seq.; and, WHEREAS, Statement of Benefits forms (Form SB-1/RE and Form SB-1/PP), said forms approved by the Department of Local Government Finance, have been submitted to the Common Council on February 17, 2011, prior to the start of construction and the installation of new manufacturing equipment on such real estate by Crown Equipment Corporation and that such ems Statement of Benefits forms are attached hereto and marked"Exhibit A and Exhibit B"; and, WHEREAS,the Common Council of the City of Greencastle passed Resolution 2011 -2 on February 8,2011 and advertised a public hearing for March 8, 2011; nd, S the Common Council of the City of Greencastle, pursuant to the laws of the WHEREA , 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; The estimate of the number of individuals who will be employed or whose 2 proposed employment will be retained can be reasonably expected to result from the p p described installation of new manufacturing equipment; 3. The estimate of the annual salaries of those individuals who will be employed or be d to whose employment will be retained can reasonably installation of new manufacturing result from the proposed described redevelopment or rehabilitation and equipment; 4. hat an other benefits about which information wasu steel are or rebenefitsathat c T can be reasonably expected to result from the described redevelopment 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 pursuant to I.C. COUNCIL OF THE CITY OF GREENCASTLE on this to lish an economic revitalization area and that said economic .1-1,et• eq., area shall be deeems there to be a fined as follows: said economic revitalization TRACT I ORIGINAL CROWN SITE Situate in the State of Indiana, County of Putnam an being a part of the Sec eon st hlaf of the Northeast quarter and the East half of the Northwestquarter 24, Township 14 North, Range 4 West of the Second Principal Meridian, more particularly described, to-wit: Commencing at the Northwest corner of Section840 10 feet with the North line of 4 West;thence South 88 degrees 10 minutes East 3 said Section 24 to the Northeast corner of the West half of the Northeast ldest 469.67 fe t with the East line of said West quarter; thence South 00 degrees 19 minutes half quarter to an iron pin on the South right-of-way sc rbed; thenceiana State RSouth 00 #240 and the true point of beginning of the real estate herein de degree 19 minutes West 694.04 feet with degreesd Eastline; utes Wesence h503 48 feet to a a fence line and the easterly extension thereof, North 83 wood post; thence North 77 degrees 56 minutes West 467.33 feet to a steel post; thence North 77 degrees 30 minutes West 9 m�n feet East 755.97 7in;fee�tonan iron pm the aforesaid fence line,North 00 degrees on the South right-of-way line of Indiana State Route#240; thence with said South right-of-way line,South 76 degrees 42 minutes 00 seconds East 203.37 feet to an iron pin; thence Southeasterly 502.96 feet on a curve to the left having a radius of 43,086.85 feet and subtended by a long chord bearing South 77 degrees 02 minutes 04 seconds East a distance of 502.96 feet to an iron pin; thence South 71 degrees 42 minutes 25 seconds Est 50.39 feet to an iron pin;thence Southeasterly 150.42 feet on a curve to the left having a radius of 43,091.85 feet and subtended by a long chord bearing South 77 degrees 32 minutes 08 seconds East a distance of 150.42 feet to an iron pin; thence South 83 degrees 21 minutes 50 seconds East 50.39 feet to an iron pin; thence South 77 degrees 54 minutes 55 seconds East 394.34 feet to an iron pin and the point of beginning containing 22.36 acres, more or less. Commonly known as 2600 East State Road 240. (DR 216 page 387) TRACT II- LAND BETWEEN ORIGINAL TRACT AND CAPITAL DRIVE Situate in the State of Indiana, County of Putnam and being a part of the Northwest quarter of Section 24, Township 14 North, Range 4 West of the Second Principal Meridian, more particularly described to-wit: Commencing at an iron pin marking 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 608.81 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 59 minutes 44 seconds East a distance of 608.80 feet;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 49.74 feet to an iron pin;thence Southeasterly 73.61 feet on a curve to the right having a radius of 4,468.66 feet and subtended by a long chord bearing South 86 degrees 39 minutes 01 second East a distance of 73.61 feet to a 5/8 inch rebar and the true point of beginning of the real estate herein described;thence continuing with the aforesaid South right-of-way line Southeasterly 739.81 feet on a curve to the right having a radius of 4,468.66 feet and subtended by a long chord bearing South 81 degrees 26 minutes 35 seconds East a distance of 738.96 feet;thence South 76 degrees 42 minutes 00 seconds East 110.63 feet to the Northwest corner of a 22.36 acre tract as described in Deed Record 216, page 387 in the office of the Recorder of Putnam County,Indiana;thence leaving the South right-of-way line of the aforesaid Indiana State Road#240 South 00 degrees 19 minutes West 755.97 feet with the West line of the aforesaid 22.36 acre tract to the Southwest corner thereof; thence West 839 feet to the East line of a 0.31 acre tract; thence with said East line North 00 degrees 18 minutes 00 seconds East 891 feet to the point of beginning containing 16.12 acres, more or less. r Commonly known as 2400 East State Road 240. (DR 225 page 542) THEREFORE,the Common Council of the City of Greencastle does recommend a deduction of assessed value for a period of ten(10)years as a result of the expansion of the facility and for a period of ten(10)years as a result of the installation of new manufacturing equipment,all as set forth in I.C. 6-1.1-12.1-4 and 4.5. The Common Council of the City of Greencastle does NOT recommend a deduction or tax abatement for special tooling nor does Crown equipment Corporation request such abatement. The Common Council of the City of Greencastle ana equipmenther rlinstalled purends and puant to the proves the application of the deductions herein for improvements Statement of Benefits from the approval of this resolution and during the forty-eight (48) ensuing months, March 8, 2011 to March 1, 2015. PASSED AND RESOLVED by the Common Council of the City of Greencastle at its regular meeting this 8`' day of March, 2011. COMMON COUNCIL OF THE CITY OF GREEN CASTLE, INDIANA 0/7 Ji ie S. Bingham Adam Cohen • Mar N. Hammer Phy s Ross Rokicki Terry S i Approved and signed by me this 8th day of March, 2011 ate\'6.\ p.m. o'clock. Susan V. Murray, Mayor ATT T: Teresa P. Gle , rk- reasurer .yam\ STATEMENT OF BENEFITS EXHIBIT A , REAL ESTATE IMPROVEMENTS 20 PAY 20_ �1 State Form 51767(R21 1-07) Prescribed by the Department of Local Government Finance FORM SB-1 I Real Property This statement Is being completed for real property that qualifies under the following Indiana Code(check one box): 1 Redevelopment or rehabilitation of real estate improvements(IC 6-1.1-12.1-4) 0 Eligible vacant building(IC 6-1.1-12.1-4.8) 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 the redevelopment or rehabilitation of real property 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 initiation of the redevelopment or rehabilitation, BEFORE a deduction may be approved. 3. To obtain a deduction,application Form 322 ERA/RE or Form 322 ERANBO,Whichever is applicable,must be filed with the County Auditor by the later of:(1)May 10;or(2)thirty(30)days after the notice of addition to assessed valuation or new assessment is mailed to the property owner at the address shown on the records of the township assessor. 4. Property owners whose Statement of Benefits was approved after June 30,1991,must attach a Form CF-1/Real Property annually to the application to show compliance with the Statement of Benefits. (IC 6-1.1-12.1-5.1(b)and IC 6-1.1-12.1-5.30))5. The schedules established under IC 6-1.1-12.1-4(d)for rehabilitated property and under IC 6-1.1-12.1-4.8(1)for vacant buildings apply to any statement of benefits approved on or after July 1,2000. The schedules effective prior to July 1,2000,shall continue to apply to a statement of benefits filed before July 1,2000. SECTION 1 TAXPAYER INFORMATION Name of taxpayer Crown Equipment Corporation Address of taxpayer(number and street,city;state,and ZIP code) _ 44 South Washington Street, New Bremen, OH 45869-1247 Name of contact person Telephone number E-mail address Bradley L. Smith (419)629-2311 Brad.Smithcrown.corn SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of designating body Greencastle City Council Resolution number / , Location of property I County DLGF taxing district number 2600 State Road 240, Greencastle, IN 46135 Putnam 008 Description of real property improvements,redevelopment,or rehabilitation(use additional sheets if necessary) Estimated start date(month,day,year) See attached 04/01/2011 Estimated completion date(month,day,year) 11/01/2011 SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT Current number Salaries Number retained Salaries Number additional Salaries 302 $12,546,000.00 302. $12,546,000.00 143 $5,934,000.00 SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT NOTE:Pursuant to IC 6-1.1-12.1-5.1(d)(2)the COST of the property REAL ESTATE IMPROVEMENTS is confidential. COST ASSESSED VALUE Current values 7,194,189.00 _ Plus estimated values of proposed project 6.500.000.00 Less values of any property being replaced Net estimated values upon completion of project 13.694.189.00 SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER Esorttated solid waste converted(pounds) Estimated hazardous waste converted(pounds) Other benefits SECT/ON 6 TAXPAYER CERTIFICATION ON . t hereby certify that the representations in this statement are true. I lure of author repr's nta rr / Title Date signed( nth,day `ear) s )�f�1 ,fyl Assistant Treasurer GI /a, /l V v ` Page 1 of 2 f FOR USE OF THE DESIGNATING BODY meets the general standards resolution,passed under I 12f,provides hefor the meets following the general W bons relating to the designation of this Economp Revitalization Area and find that the applicant ad have reviewed our prior actions this body. Said previously approved by (see below). The date this designation adopted in the resolution p 48 months calendar years* A. The designated area has been limited to a period of time not to exceed____—-- expires is March 1.2015 B. The type of deduction that is allowed in the designated area is area is limitedo: Yes 0 No ❑Yes ©No 1.Redevelopment or rehabilitation of real estate improvementsYes ©No 2.Residentially distressed areas 3.Occupancy of a vacant building 0 000.00 C. The amount of the deduction applicable is limited to$ 7+000' S eci None D. Other Limitations or conditions(specify) years*(see below). E. The deduction is allowed for ten(10) ' din the statement of benefits and find that the estimates and expectations are reasonable andhave d We havemi also that the d the information benefitsm is contained Date signed(month,day,year) determined the totality of sufficient to justify the deduction described above. Telephone number0310812011 Approved V.(signatuande - -- •.=m erofdes'� =In" ••dy) (765)653-3100 Murray,MuMayo v��- � �� �Designated body Susan V. y �`esigna body Common Council Teresaed (signature and tee of reasuttester) length of time a taxpayer is P. Glenn, Clerk-Treasurer �`,( it does not limit the the time period during which an area is an economic revitalization area, *If the designating body limits designated under IC 6-1.12-12.1-4. entitled to receive a deduction to a number of yearsnot exceed five(5)years. the deduction period may six 6 or ten(10)years. A. For residentially distressed areas, improvements: is limited to three(3).10 (ears. prior to July 1,2000,the deduction periodnot exceed ten(10)Y B. For redevelopment and rehabilitation or real estate imP 2000,the deduction period may 1. If the Economic Revitalization Area was designated afteryears. ..,,� 2. vacantIf the Economic ,the on period may not lization Area was exceedtwo(2) C.For buildings, Page 2 of 2 ATTACHMENT TO FORM SB-1/REAL PROPERTY Section 2 - Description of real property improvements, redevelopment or rehabilitation Crown Equipment Corporation is expanding its current manufacturing facility by 145,700 sq. ft. to accommodate increased levels of current lift truck production and to allow for new manufactured product and processes. The expansion is necessary to house additional production equipment, employees and support services. We estimate the cost of the plant expansion to be $6.5 million. or EXHIBIT B FORM SB-1 !PP '> STATEMENT OF BENEFITS 41"`. PERSONAL PROPERTY PRIVACY NOTICE State Form 51764(R I 1-06) The cost and any specific salary information confidential;public indindi record vidual's iiilimIlOt Prescribed by the Department of Local Government Finance balance of the filing is per IC 6-1.1-12.1-5.1(c)and d). INSTRUCTIONS: designating the Economic Revitalization Area prior to the public hearing if the designating body requires 1• This statementatofrom must bep cant f making the body 9planned or committedem to aftert beets b fitted in manufacturing equipment and/or research and development equipment,and/or logistical distribution then applicant in its decision about whether to designate an Economic Revitalization Area.o Otherwise this statement must submitted efopmeotfrompP to the designating body BEFORE a person installs the new ma 6-1.1-12.1) 987, equipment and/or information technology equipment for which the person wishes to claim a deduction. r and areas designated after July 1, 1987,require a STATEMENT OF BENEFITS. (IC prior equipment,BEFORE a deduction may designating body(City Council,Town Board,County ou t y Councqui t c.) u must be btaied information technology toinstallation f the new manufacturing equipment 2• and/or al f the 9 and/or research and development equipment and/or logistical return on a certified deduction schedule(Form be approved art is r The 103-ERA must t filed a ween March 1 and May schedule 15 of the 3. To1O -ERA a deduction, township assessor tof the towenship where the properd deduction schedule ty the situated.pae personal property assessmentss with ' pal unless a filing extension has been obtained. A person who obtains a filing extension must year in which new manufacturing equipment hand/or research and development equipment and/or logistical distribution equipment and/or s installed and fully functional,information technology equipment filePr the form between Marcht 1 an andtthe Benefits due date of that year. 4. Property owne rs whose Statement of Benefits was approved after June 30, 1991, must submit Form CF-i/PP annually to show compliance with the heStatementschedules of Benefits.established(IC 6 - IC 6-6) e apply to equipment installed after March 1,2001. For equipment installed prior to March 2, 5. 2001,00 he heschedulesandstatutes under in effect t at th time had( PP Y apply.tinue to (IC 6-1.1-12.1-4.5(f)and(g)) the and effect at the shall conTAXPAYER INFORMATION SECTION 1 Name of taxpayer Crown Equipment Corporation Address of taxpayer(number and street,city state,and ZIP code)44 South Washington Street,New Bremen,OH 45869-1247 Telephone number (419)629-2311 Name contact person Bradley L.Smith SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJEC T Name of designating body DLGF taxing district number Greencastle City Council iiiiiil 008 ftes Location of property ESTIMATED 2600 State Road 240,Greencastle,IN 46135 START DATE DATE ( radditional distribution manufacturing and/or ment / nformaton technologr research and y equipment. O COMPLETIONO3 (use additional sheets if necessary) Manufacturing Equipment 11/01/2011 See attached R&D Equipment 111111111111111110111 Logist Dist Equipment _. IT Equipment ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSEDr PROber JECC additional Salaries SECTIONnu 3 Number retained Salaries Salaries 5,934,000.00 Curren[number Salaries 12,546,000.00 143 302 .12,546,000.00 302 SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT OGIST DIST IT EQUIPMENT MANUFACTURING R Sr D EQUIPMENT EQUIPMENT ASSESSED NOTE:Pursuant to IC 6-1.1-12.1-5.1(d)(2)the EQUIPMENT ASSESSED COST ASSESSED COST ASSESSED C- VALUE VALUE COST,of the property is confidential. COST VALUE -- 10,339.252.00 --- 10.950.000.00 --- Plus estimated values of proposed project - Less values of any property being replaced --- Net estimated values upon completion of project 21,289,252.00 SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER Estimated hazardous waste converted(pounds) Estimated solid waste converted(pounds) Other benefits: . TAXPAYER CERTIFICATION • SECTION 6 I hereby certify that the representations in this statement are true. Date signed(' •• ' has -ar)G l iiii Title / Signature of authorized rep sentalive Assistant Treasurer l 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,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 48 months calendar years*(see below). The date this designation expires is March 1,2015 B.The type of deduction that is allowed in the designated area is limited to: 1. Installation of new manufacturing equipment; ❑✓ Yes ❑N o 2. Installation of new research and development equipment; ❑Yes ON o 3. Installation of new logistical distribution equipment. DYes ON 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 $ 12,000,000.00 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) None 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: ❑1 year 06 years **For ERA's established prior to July 1,2000,only a O 2 years 07 years 5 or 10 year schedule may be deducted. ❑3 years ❑8 years t',,"•,, 04 years ❑9 years ❑5 years** ID 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 aut ,_d fiber Telephone number Date signed(month,day,year) Susan V. Murray, Mayor o (765)653-3100 03/08/2011 Attested by: esignated body Teresa P. Glenn, Clerk-Treasu — encastle 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 ATTACHMENT TO FORM SB-1/PERSONAL PROPERTY Section 2 - Description of manufacturing equipment and/or research and development equipment and/or logistical distribution equipment and/or information technology equipment. Crown Equipment Corporation is expanding its current manufacturing facility by 145,700 sq. ft. to accommodate increased levels of current lift truck production and to allow for new manufactured product and processes. As part of this expansion Crown will invest, through purchase or lease, approximately $10.95 million in additional manufacturing equipment.