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HomeMy Public PortalAboutResolution 2-2012-27RESOLUTION NO. 2012 - 27 A RESOLUTION AMENDING RESOLUTION 2012 -5 TO AMEND THE LIST OF EQUIPMENT ELIGIBLE FOR TAX ABATEMENT GRANTED TO CHIYODA USA CORPORATION WHEREAS, Chiyoda USA Corporation was granted tax abatement on new equipment with the passage of Resolution 2011 -1 on February 8, 2011 and Resolution 2012 -5 on April 10, 2012; and, WHEREAS, Chiyoda USA by submission of a Statement of Benefits form on October 25, 2012 has requested approval to amend the equipment list and increase the investment eligible for personal property tax abatement that was approved under Resolution 2012 -5; and, WHEREAS, Chiyoda USA now comes before the Common Council to amend the equipment list to include three injection molding machines and ancillary support equipment; and, WHEREAS, the Common Council of the City of Greencastle passed Resolution 2011 -1 on February 8, 2011, passed Resolution 2012 -5 on April 10, 2012, and advertised for a public hearing for November 13, 2012 to consider the request; and, WHEREAS, the Common Council of the City of Greencastle, pursuant to the laws of the State of Indiana, does now hereby find that Chiyoda USA's request to amend their equipment list and increase the investment eligible for abatement to be reasonable. THEREFORE, the Common Council of the City of Greencastle recommends and approves the following: 1. The request to amend the equipment list to include the following is approved: A. Three injection molding machines. B. Ancillary equipment required for installation of the machines. 2. The term of the abatement shall be for seven (7) years as provided for in Resolution 2012 -5. 3. The time period to install the equipment shall expire on March 1, 2014 as provided for in Resolution 2012 -5. 4. The total amount of deduction applicable to new manufacturing equipment shall increase from $1,650,000 to $4,950,000 at cost as specified on the previously approved Statement of Benefits and the Statement of Benefits submitted with this request. 5. All other terms and conditions of Resolution 2012 -5 shall remain in effect. PASSED AND RESOLVED by the Common Council of the City of Greencastle at a regular meeting this 13th day of November, 2012. A J iris ie S. Bingham COMMON COUNCIL OF THE CITY OF GREENCJSTLE, INDIANA Terry J. S Approved and signed by me this 13th day of November, 2012 at \',S�p.m. o'clock. ATTEST: da R. Dunbar, Clerk-Treasurer Adam Cohen 2` g 2zil PhylldRoss Rokicki Susan V. Murray, Mayor STATEMENT OF BENEFITS PERSONAL PROPERTY State Form 51764 (R2 / 12 -11) Prescribed by the Department of Local Govemment Finance 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 retum on a certified deduction schedule (Form 103 -ERA) with the township assessor of the township where the property is situated or with the county assessor if there is no township assessor for the township. 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 /C 6 -1 1- 12.1- 4.5(d) and (e) apply to equipment installed after March 1, 2001, unless an altemative deduction schedule is adopted by the designating body (lC 6 -1 1- 12.1 -17). IVI 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 TAMMY NEWGENT Name of designating body GREENCASTLE COMMON COUNCIL Location of property 2200 STATE ROAD 240 EAST Description of manufacturing equipment and /or research and development equipme 1t and /or logistical distribution equipment and /or information technology equipment. (use additional sheets if necessary) ADDITION OF ONE (1) NEW INJECTION MOLD MACHINE AND REPLACEMENT OF TWO (2) INJECTION MOLD MACHINES WITH LARGER MACHINES r • Salaries 3,000,000.00 Number retained 92 Salaries 3,000,000.00 • Number additional 0 Salaries 0.00 Current number 92 NOTE: Pursuant to IC 6- 1.1- 12.1 -5.1 (d) (2) the COST of the property is confidential. Current values 1 Plus estimated values of proposed project 1 Less values of any property being replaced Net estimated values upon completion of project Estimated solid waste converted (pounds) Other benefits: !Signature of authorized repre ntative MANUFACTURING EQUIPMENT ASSESSED VALUE COST 3,000.000.00 Page 1 of 2 R & D EQUIPMENT ASSESSED VALUE COST County PUTNAM r:wclr •� R & D Equipment Logist Dist Equipment IT Equipment 1 I hereby certify that the representations in this statement are true. — - Title EVP COST i LOGIST DIST EQUIPMENT Estimated hazardous waste converted (pounds) Telephone number (765) 653-9098 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). Resolution number (s) DLGF taxing district number 67008 START DATE Manufacturing Equipment) 12/01/2012 ASSESSED VALUE FORM SB -1 / PP Date signed (month, day, year) 10/25/2012 ESTIMATED COMPLETION DATE 07/31/2012 IT EQUIPMENT COST ASSESSED VALUE FOR USE OF THE DESIGNATING BODY We have reviewed our prior actions relating to the designation of this economic revitalization area and find adopted in the resolution previously approved by this body. Said resolution, passed under IC 6 -1 1 -12. authorized under IC 6 -1 1- 12.1 -2. A . The designated area has been limited to a period of time not to exceed 16 months calendar years * 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; 2. Installation of new research and development equipment; 3. Installation of new logistical distribution equipment. 4 Installation of new information technology equipment; ©Yes ❑N ❑Yes ❑N ❑Yes ❑N ❑ Yes ❑N C The amount of deduction applicable to new manufacturing equipment is limited to $ 3,300,000.00 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: ❑ 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 ❑ 9 years ❑ 5 years ** ❑ 10 years ** I. Did the designating body adopt an altemative deduction schedule per IC 6 -1.1- 12.1 -17? ❑ Yes VI No If yes, attach a copy of the altemative deduction schedule to this form. 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 metnerL Susan V. Murray, Mayo s ., Attested by Lynda R. Dunbar, Clerk- Treasurer * If the designating body limits the time period during which an s an economic r•vitalization 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- - .1-4.5 Page 2of2 Telephone number ( 765 ) 653 -3100 esignated body encastle Common Council that the applicant meets the general standards 1 -2.5, provides for the following limitations as (see below) The date this designation expires cost with an assessed value of Date signed (month, day, year) 11/13/2012