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Home My Public Portal About01-2011-8 SCANNED RESOLUTION NO. 2011 - 8 /l A RESOLUTION REAFFIRMING RESOLUTION 2011-7 AND DECLARING AN ECONOMIC REVITALIZATION AREA AND RECOMMENDED TAX DEDUCTION (IAC GREENCASTLE,LLC) 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 s'\ 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,IAC Greencastle has planned the economic revitalization of their operations by investing up to $8,800,000 in new manufacturing equipment to support additional operations resulting in the retention of 466 jobs and the restoration of 255 additional jobs at their facility. IAC Greencastle 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), said form approved by the Department of Local Government Finance,has been submitted to the Common Council on April 11, 2011, prior to the installation of new manufacturing equipment on such real estate by IAC Greencastle and that such Statement of Benefits are attached hereto and marked"Exhibit A"; and, n WHEREAS,the Common Council of the City of Greencastle passed Resolution 2011-7 on April 12, 2011 and advertized for a public hearing on May 10, 2011; 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 and used 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 and used manufacturing equipment; 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. o5. 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 11th day of May, 2011,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: Situate in the State of Indiana, County of Putnam and being a part of the South half of Section 13, Township 14 North, Range 4 West of the Second Principal Meridian, more particularly described to-wit: Beginning at a railroad spike in the centerline of a county road which is 464.71 feet North and 3338.63 feet East of the Southwest corner of Section 13, Township 14 North, Range 4 West; the said railroad spike is further described as being North 00 degrees 27 minutes 02 seconds West 724.71 feet from the intersection of the centerline of said county road and the North right-of-way line of Indiana State Road No. 240; thence West 1361.01 feet to a concrete monumcnt; thence North 1400.00 feet to a concrete monument; thence East 1350.00 feet to a railroad spike in the centerline of the aforesaid county road which is South 00 degrees 27 minutes 02 seconds East 1400.04 feet with the centerline of said county road to the point of beginning, containing 43.57 acres, more or less. EXCEPT THEREFROM the following described real estate: Beginning at a point 1864.71 feet North and 1977.62 feet East of the Southwest corner of Section 13, Township 14 North, Range 4 West; thence East 250.0 feet; thence South 200.0 feet; thence West 250.0 feet; thence North 200.0 feet to the point of beginning, containing 1.148 acres. Also commonly known as 750 South Fillmore Road. 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 installation of new and used 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 IAC Greencastle request such abatement. The Common Council of the City of Greencastle further recommends and approves the application of the deductions herein for improvements and equipment installed pursuant to the Statement of Benefits from the approval of this resolution and during the ensuing months,May 10, 2011 to March 1, 2014. PASSED AND RESOLVED by the Common Council of the City of Greencastle at a special meeting this 10th day of May, 2011. COMMON COUNCIL OF THE CITY OF GREE ASTLE, INDIANA gG s/6.S J. sie S. Bingham Adam Cohen Cl?"leelt; M N. Hamme Phylles Ross Rokicki Terry . ,S th Approved and signed by me this 10th day of May, 2011 act ,`\ p.m. o'clock. Susan V. Murray, Mayor ATTEST: Teresa P. Glenn, Clerk-Treasurer - .fl STATEMENT OF BENEFITS FORM SB-I 1 PP 1 `'= ' PERSONAL PROPERTY + ti� , Sta For /1 O6 PRIVACY NOTICE � Prescrteibmed by51764 the:Del ent of Local Government Finance The cost and any specik individuars salary information is confidential;the balance of the filing is public record per IC 6-1.1.-12.1-5.1 Cc)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, 1967,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 IAC Greencastle, LLC Address of taxpayer{number and street,city state,and 211,code) 5300 Auto Club Drive Dearborn, MI 48126 Telephone number Nam• ,f contact per k ur R 31S-Z-',0` bite SECTION? LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of designating body Resolution number(s) ,e'\, Greencastle City Council Location of property County DLGF taxing district number 750 South Fillmore Road Greencastle,IN 46135 Putnam 67008 • Description of manufacturing equipment and/or research and development equipment ESTIMATED and/or logistical distribution equipment and/or information technology equipment. START DATE COMPLETION DATE (use additional sheets if necessary) Manufacturing Equipment 05/15/2011 12/31/2011 See attached 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 466 17,156,256.00 466 17,156,256.00 255 8,608,392.00 SECTION 4 ESTIiIIATED TOTAL COST AND VALUE OF PROPOSED PROJECT MANUFACTURING R&D EQUIPMENT LOGIST DIST iT EQUIPMENT NOTE:Pursuant to IC 6-1.1-12.1-5.1 (d)(2'1 the, EQUIPMENT EQUIPMENT - COST of the property is confidential, COST ASSESSED Cosi- ASSESSED COST ASSESSED COST ASSESSED VALUE VALUE vALUE VALUE ' Current values . Plus estimated values of proposed project a,aoo,000_00 Less values of any property being replaced . I Net estimated values upon completion of project SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER Estimated solid waste converted(pounds) Estimated hazardous waste converted(pounds) Other benefits: 0 •SECTION 6 TAXPAYER CERTIFICATION I hereby certify that the representations in this statement are true. �8ig>�t ofauthorzed epresentat e 1Tve Datesi ed�mon7�d`yyear) II�� i_C� (�l� 1 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 0,0N, 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 33 months calendar years*(see below). The date this designation expires is March 1,2014 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 FIN o 3. Installation of new logistical distribution equipment. ❑Yes N o 4. Installation of new information technology equipment; ❑Yes ❑✓ N o C. The amount of deduction applicable to new manufacturing equipment is limited to $ 9,700,000.00 cost with an assessed value of D. The amount of deduction applicable to new research and development equipment is limited to $ 0.00 cost with an assessed value of$ E.The amount of deduction applicable to new logistical distribution equipment is limited to$ 0.00 cost with an assessed value of F. The amount of deduction applicable to new information technology equipment is limited to$ 0.00 cost with an assessed value of G. Other limitations or conditions(specify) Abatement not granted for tooling. 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 ❑6 years **For ERA's established prior to July 1,2000,only a ❑2 years ❑7 years 5 or 10 year schedule may be deducted. ❑3 years ❑8 years ❑4 years ID 9 years El5 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 ti zed me er) Telephone number Date signed(month,day,year) Susan V. Murray, May l► S Cr (765)653-3100 05/10/2011 Attested by: Designated body Teresa Glenn, Clerk-Treasu reencastle Common Council *If the designating body limits the time period during which an area is an e o ' 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 0111144 IAC Greencastle,LLC Statement of Benefits-Personal Property Section 2-Location and Description of Proposed Project Manufacturing Equipment List Beginning Date of Installation: 5/15/2011 Completion Date of Installation' 12/31/2011 ,_r_nr..,.m.-max:..:=�:.�.,r-_e _•__._z ,.,�... :, :�.. Transfer of 2000T Press Gravimetric Blender-2000T Press Material Grinders(4) 1MM Robots on 2000T Press IMM Robots for current 300/400 ton machines(4) Material dryers&Gaylord Tippers Internal WIP Racks Update ILVS Software Misc Equipment Side Panel Front RH(Passenger)Clip Machine Side Panel Front LH(Driver)Clip Machine CVR ASY CNSI PNL CIR SH LVR OPG Table•Manual Bullhorn(Forward Trim Bezel)Punch Press Bullhorn(Forward Trim Bezel)Table-Manual Armrest AssyTable•Manuel End Cap AssyPundh Press End Cap AssyCfip Machine End Cap AssyNEST Gamier AssyWafd CarrierAssyTester Upper Panel AssyNEST i.1 Line ILVS integrationLine Integration DC driver cost assumption est equipment delivery support at plant post install Die Cut Sew IAC Returnable Packaging Console-Ford Ret Packaging floors . .•. Transfer of Woodstock Presses&Ovens Upgrade of Barrels on 2 Shot Presses Transfer of Male Vac Form Press Two new 2 Head Robots for 502&503 Dual Robotic AdhesNe Spray System Update ILVS Software Valve Gate&FUR Controllers Spray Booth System far FIR door bolsters Thermolalors&FUR Controllers Misc Equipment Fr DR Top Roll(Upper) Grab Handle F/D Insert/ooister Cloth Woodstock Grab Handle LH/RH F/D trial assembly Rr Dr Top Rot(Upper) Grab Handle R/Ilfinal assembly re-use equipment replacement parts U251 trie equip refurb Shipping of re-use equipment(est) IAC Returnable Packaging Door-Ford Ret Packaging(Louisville-Steel Racks) Door-Ford Ret Packaging(Wayne-Racks) 1