HomeMy Public PortalAbout034-2015 - Tax Abatement - Vandor - Manufacturing Equipment-Industries RdCOMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA
AMENDED ORDINANCE NO.34-2015
A SPECIAL ORDINANCE AUTHORIZING THE APPROVAL OF A
STATEMENT OF BENEFITS FOR A PROPERTY OWNER
APPLYING FOR DEDUCTIONS UNDER I.C. 6-1.1-12.1
WHEREAS, Common Council has previously designated eight economic revitalization areas
within the City of Richmond; and
WHEREAS, I.C. 6-1.1-12.1 requires the Common Council as the designating entity to approve
all Statements of Benefits required to be filed by property owners applying for
deductions in assessed valuations for the installation of new manufacturing
equipment, research and development equipment, logistic distribution equipment,
or information technology equipment or for the redevelopment or rehabilitation of
real property; and
WHEREAS, An owner of real property located in an economic revitalization area is entitled to
deductions from the assessed value, pursuant to Indiana law and Richmond City
Ordinance, for a period of any number of years less than or equal to ten (10) years
(i.e. one to ten years); and
WHEREAS, An owner of new manufacturing equipment, research and development
equipment, logistic distribution equipment, or information technology equipment
is also entitled to deductions from the assessed value, pursuant to Indiana law and
Richmond City Ordinance, for a period of any number of years less than or equal
to ten (10) years (i.e. one to ten years); and
WHEREAS, In order for Common Council to approve a Statement of Benefits to allow a
deduction, it must make the following findings, to -wit:
1. That the estimate of value of the redevelopment or rehabilitation, as to real
property, or the estimate of cost of the new manufacturing equipment,
research and development equipment, logistic distribution equipment, or
information technology equipment, as to personal property, is reasonable for
projects of that nature or equipment of that type.
2. That the estimate of number of individuals who will be employed or whose
employment will be retained can be reasonably expected to result from the
proposed described redevelopment or rehabilitation, or from the installation of
the new manufacturing equipment, research and development equipment,
logistic distribution equipment, or information technology equipment.
3. That the estimate of annual salaries of those individuals who will be employed
or whose employment will be retained can be reasonably expected to result
from the proposed described redevelopment or rehabilitation, or from the
installation of the new manufacturing equipment, research and development
equipment, logistic distribution equipment, or information technology
equipment.
4. That any other benefits about which information was requested are benefits
that can be reasonably expected to result from the proposed redevelopment or
rehabilitation, or from the installation of the new manufacturing equipment,
research and development equipment, logistic distribution equipment, or
information technology equipment.
5. That the totality of the benefits is sufficient to justify the deduction.
6. That installation of the equipment described in the SB-1 must be completed
within 24 months of the date the ordinance is signed by the designating body.
Further, the abatement is limited to the equipment listed in the SB-1.
7. That a deduction schedule was passed by Common Council pursuant to
Richmond City Ordinance Number 65-2013 and that said deduction schedule
is applicable to the deductions approved along with these findings.
NOW, THEREFORE, the Common Council of the City of Richmond, Indiana, now
makes the following findings:
1. That the estimate of value of the redevelopment or rehabilitation, as to real
property, or the estimate of cost of the new manufacturing equipment,
research and development equipment, logistic distribution equipment, or
information technology equipment, as to personal property, is reasonable for
projects of that nature or equipment of that type.
2. That the estimate of number of individuals who will be employed or whose
employment will be retained can be reasonably expected to result from the
proposed described redevelopment or rehabilitation, or from the installation of
the new manufacturing equipment, research and development equipment,
logistic distribution equipment, or information technology equipment.
3. That the estimate of annual salaries of those individuals who will be employed
or whose employment will be retained can be reasonably expected to result
from the proposed described redevelopment or rehabilitation, or from the
installation of the new manufacturing equipment, research and development
equipment, logistic distribution equipment, or information technology
equipment.
4. That any other benefits about which information was requested are benefits
that can be reasonably expected to result from the proposed redevelopment or
rehabilitation, or from the installation of the new manufacturing equipment,
research and development equipment, logistic distribution equipment, or
information technology equipment.
5. That the totality of the benefits is sufficient to justify the deduction.
6. That installation of the equipment described in the SB-1 must be completed
within 24 months of the date the ordinance is signed by the designating body.
Further, the abatement is limited to the equipment listed in the SB-1.
7. That a deduction schedule was passed by Common Council pursuant to
Richmond City Ordinance Number 65-2013 and that said deduction schedule
is applicable to the deductions approved along with these findings.
NOW THEREFORE, be it ordained by the Common Council of the City of Richmond,
that the following property owner meets the requirements for property tax assessed valuation
deductions, as follows:
EQUIPMENT —10 YEARS
Vandor Corporation (Industries Road)
Current Jobs: 85
Jobs Retained: 85
Jobs Created: 2
Estimated New Value: $1,025,000 (Manufacturing)
Dated: May 21, 2015
Passed and adopted this day of , 2015, by the Common
Council of the City of Richmond, Indiana.
t, President
(Dr. Ronald Oler)
ATTE
(Karen Chasteen, IAMC, MMC)
PRESENTED to the Mayor of the City of Richmond, Indiana, this % day oil , 2015,
at 9:00 a.m.
(Karen Chasteen, IAMC, MMC)
AP OVED by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this day of
2015, at 9:05 a.m.
Mayor
(Sarah L. Hutton)
ATEy CIC4
(Karen Chasteen, IAMC, MMC)
R,
STATEMENT OF BENEFITS
PERSONAL PROPERTY
�y d, State Form 51764 (R 11-06)
Prescribed by the Department of Local Government Finance
INSTRUCTIONS.
FORM SB-1 / PP
PRIVACY NOTICE
The cost and any speck individual's
salary information is confidential; the
balance of the filing is public record
per IC 6-1.1-12.15.1 c and d .
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 most
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(o and (g))
SECTION•- •
Name of taxpayer //��,,�
Vt/ . (tw P V E+r
Address of taxpayer (number and street, c'ty,tats, and ZIP code)
gZSI �,✓ ��.ol✓s�'vi ilo �� Y7375�
Name of contact person
k
Telephone number
%d f—`3Gl = 7G 7G
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT
Name of designating body `A: n // 11
`�+✓i/grf//f """l/Y1Cl�f tiles 4 !+�'`(.�qt0��
Resolutionnumber(s)
Ao-l4dy %/-/94,/
Location of property
ZlZSl GtJ %.,o%
County
DLGF taxing disci number
t
Description of manufacturing equipment and/or� r�eessearch and development equipment
and/or logistical distribution equipment and/or ftt3ormation technology equipment.
(use additional sheets if necessary)
; .
ESTIMATED
START BATE
COMPLETION DATE
Manufacturing Equipment
Jr u A
ZC/
R & D Equipment
Logist Dist Equipment
IT Equipment
l
l
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT
Current number Salaries Number retained Salaries Numberadditional Salaries
Z SGG 7 SS SS Z �t:6 -7 Z 5Z oo v
ESTIMATEDSECTION 4
TOTAL COST AND
VALUE OF PROPOSEDPROJECT
NOTE: Pursuant to IC 6-1.1-12.1�i.1 (d) (2} the
MANUFACTURING
EQUIPMENT
R & D EQUIPMENT
LOGIST DIST IT EQUIPMENT
EQUIPMENT
COST
ASSESSED
VALUE
COST
ASSESSED
VALUE
COST
I ASSESSED COST
VALUE
ASSESSED
VALUE
COST of the property is confidential.
Current values
Plus estimated values of proposed project
02'iOzo
Less values of any property being replaced
Net estimated values upon completion of project
SECTION• OTHER BENEFITS
PROMISED
Estimated solid waste converted (pounds)
Estimated hazardous waste converted (pounds)
Other benefits:
SECTION
hereby certify that the representations in this statement are true.
Signature of authorizejLre esentativ
Trf1e
Date signed (m th, ay, yeaO
s r
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 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. Installation of new manufacturing equipment; []Yes [] N o
2. Installation of new research and development equipment; []Yes N o
3. Installation of new logistical distribution equipment. [—]Yes [--]No
4. Installation of new information technology equipment; ❑Yes E] N o
C. The amount of deduction applicable to new manufacturing equipment is limited to $ 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:
❑ 1 year ❑ 6 years ** For ERAs established prior to July 1, 2000, only a
❑2 years El years 5 or 10 year schedule may be deducted.
❑3 years El years
❑4 years 9 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 totalq of benefits is sttfficient to justify the deduction described above.
ra+,
proved: (signature and title of authorized member) Telepho a number Date ned ( nth, day, year)
3 7 si L / 5
ested by: A Designated bodv
* 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
Form SB-1A
City of Richmond, Indiana
Taxpayer Wage & Benefit Information
Company Name and Address: Vandor Corporation
The information requested on this supplement to form S13-1 must be completed and submitted
along with your SBA in order for your tax abatement request to be considered by Richmond
Common Council. Please retain your records and calculations used to arrive at the information
requested on this form. It is subject to review as a part of our monitoring process. .
1. Average hourly wage for existing employees
2. Average hourly wage for projected new positions
3. Average hourly health insurance benefit
1. The length of the abatement you are requesting 10 YEAR
(A 1-10 year abatement may be requested for real estate improvements and manufacturing equipment.)
2. If purchasing equipment, please attach a list that includes the following:
• brief description of each piece of equipment being purchased
• the projected useful life of each piece of equipment
• the states} in which the equipment is being brought into Indiana from-�x-if purchasing
used equipment
• the cost of each piece of equipment
3. If making real .estate improvements, please provide a list that includes the following:
• brief description of the real estate improvement (new construction, rehab, expansion, etc.)
• size of the proposed real estate improvements
• costs of the proposed real estate improvements.
DEFINITIONS
1. Average hourly wage for existing employees: for your most recent pay period please provide
the average base wage per hour for all current full time, non -supervisory employees. Do not
include the following groups:
A. part time employees;
B. management, supervisors, foremen, or any other supervisory personnel;
C. owners, stockholders, or partners if they own 2% or more of the business,
and their family members.
2. Average hourly wage for projected new positions: Use the same definition of employees to
be included as in number one above.
3. Average hourly health insurance benefit: Please provide the current company paid health
insurance benefits provided to hourly employees (as defined above) and -family members.
Please present in the form of an hourly rate computed using the annual cost per eligible
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