Loading...
HomeMy Public PortalAbout035-2015 - Tax Abatement - Vandor - Manufacturing Equipment - Rich RoadCOMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA AMENDED ORDINANCE NO.35-2015 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 (Rich Road) Current Jobs: 52 Jobs Retained: 52 Jobs Created: 2 Estimated New Value: $630,000 Dated: May 21, 2015 Passed and adopted this Council of the City of Richmond, Indiana. 2015, by the Common CO., , President (Dr. Ronald Oler) A (Karen Chasteen, IAMC, MMC) PRESENTED to the Mayor of the City of Richmond, Indiana, this day ofQ��015' at 9:00 a.m. (Karen Chasteen, IAMC, MMC) PROVED 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) ATTEST: aren Chasteen, IAMC, MMC) s ��r STATEMENT OF BENEFITS PERSONAL PROPERTY •y a State Form 51764 (R / 1-06) Prescribed by the Department of Local Government Finance INSTRUCTIONS: FORM SBA / PP PRIVACY NOTICE The cost and any specific individuars 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 equ/pment 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 riling 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. (1C 6-1.1-12.1-4.5(0 and (g)) SECTION•- • Name of taxpayer Q of c�,�a�7uM Address of taxpayer (number and street, city, state, and ZiP code n / y2Sl/ Ili 7ti V `! ILua / `tK• wt �i•� y737y Name of contact person / IWOO-k /j`R/r fn �� SECTION 2 LOCATION . DESCRIPTION OF PROPOSED PROJECT Telephone number 7(0 = 96d -7G71 Name of designating body / / •A �hrr �y� �-1 o� ��C4,a, Resolution number (s) %(1-1i Y • >/—/Q9/ Location of property / County DLGF taxing dis/4ict number 2 La4M Description of manufacturing equipment and1p.r research and development equipment and/or logistical distribution equipment andfdf Information technology equipment. (use additional sheets if necessary) ESTIMATED STA DATE COMPLETION DATE Manufacturing Equipment J! slid �t'7 R & D Equipment Logist Dist Equipment IT Equipment .l uhr SECTIONOF • AND SALARIES AS RESULT OF -••• r PROJECT Current number Salaries Number retained Salaries Number additional Salaries � 2 1 7 r2 8S7 SZ 1 712 8 i 7 2 S'1, 00 O :1 SECTION 4 ESTIMATED NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the COST of the property is confidential. TOTAL COST AND MANUFACTURING EQUIPMENT VALUE OF PROPOSED PROJECT R & D EQUIPMENT LOGIST DIST IT EQUIPMENT EQUIPMENT COST ASSESSED VALUE COST ASSESSED VALUE COST I ASSESSED COST VALUE ASSESSED VALUE Current values tOJA�e C� ^- Plus estimated values of proposed project Less values of any property being replaced Net estimated values upon completion of project SECTION• r AND OTHER BENEFITS Estimated solid waste converted (pounds) PR8MISED BY �HE TAXPAYER Estimated hazardous waste converted (pounds) Other benefits: SECTION- I hereby certify that the representations in this statement are true. Ot Signature of authorizOd re sentativ Title cfL Date signed (mont�. day, year) 1, - 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 [-]No 3. Installation of new logistical distribution equipment. ❑Yes ❑ N o 4. Installation of new information technology equipment; ❑Yes ON 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 El years ** For ERAs established prior to July 1, 2000, only a ❑2 years ❑ 7 years 5 or 10 year schedule may be deducted. ❑3 years El years n4 years 9 years 5 years ** J&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 §ufficient to justify the deduction described above. Appr vad: (signature and 'de of authorized membeo Tele hone number Date sig ad (month, day, year) b4 " ' ��3 -? � 3 �7t, //s * 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 S13-1 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 101 A I 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 state(sJ in which the equipment is being brought into Indiana frorm=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 employee divided byA80 hours. &OV-2k, 5/an/,5 (Authol*ed Signaturd and Title) o 0 0 N o o o N Ln .J 7 4- G1 N D N G1 N N N GJ C C C C C C C .c .c CGJ .c .� .c .c .0 L to to 41 N Gi Q1 G 1 'C O O N N G1 CJ N GJ N M M C C C C C C C C � Q C� G fl- 0 0 0 0 0 0 0 0 0 O a 0 C 0 0 0 0 0 C 0 LU tf1 0 0 0 O O O O Cw C9 O 114tntn AA. t4ice4Vr N N O U a w C O L N CCU E •O t N W E fl t C Q C W C cr N U to 0 sue.. cM L t0 d O N E m 3 � ; i 00 m t 'C to to t .L tVil 'U E W V u a- o Q ►Oi ttA 7 cn a ofOc C7 U