HomeMy Public PortalAbout046-2015 - Abatement - Vandor - IT Equip-Industries RdCOMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA
ORDINANCE NO.46-2015
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-I.
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:
IT EQUIPMENT — 5 YEARS
Vandor Corporation (Rich Road)
Current Jobs: 52
Jobs Retained: 52
Jobs Created: 2
Estimated New Value: $40,000.00
Dated: May 21, 2015
Passed and adopted this ib day of _, 2015, by the Common
Council of the City of Richmond, Indiana.
0i U 6Q-n�, , President
(Dr. Ronald Oler)
AT S
(Karen Chasteen, IAMC, MMC) 1
PRESENTED to the Mayor of the City of Richmond, Indiana, thi,§, day of r)�t� —lam , 2015,
at 9:00 a.m. G
(Karen Chasteen, IAMC, MMC)
APP OVED by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this al day of
2015, at 9:05 a.m.
(Sarah L. Hutton)
ATTE
(Karen Chasteen, IAMC, MMC)
STATEMENT OF BENEFITS
PERSONAL PROPERTY
•� I State Form 51 T64 (R 11-06)
• • Prescribed by the Department of Local Government Finance
FORM SB-1 / PP
PRIVACY NOTICE
The cost and any specific individual's
salary information is confidential; the
balance of the flltng Is public record
r IC 6-1.1.12.15.1 c 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
Infonnatfon from the applicant In making its derision 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 andYorre3searrh and development equipmen4 and/orlogistical distribution
equipment and/or information technology equipment for which the person wishes to claim a deduction. 'Projects'planned orcommitted to after July 1, 1987,
and areas designated after July 1, 1987, require a STATEMENT OF BENEFITS. (IC 64.1-12.1)
Z Approval of the designating body (City Council, Town Boa4 County Council, etc.) must be obtained prior to Installationof 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
Informatlon 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. (IC6-1.142-1-5.6)
5. The schedules established under IC 61.1-1 i 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-IZ14.5(t) and (g))
SECTION•" •
Name of taxpayer
a of -�'p CJea'>I7t +
Address of taxpayer (number and sksi4 city, state, and ZIP code
�, n�� �h l;739i/
YZSI 1,J % „ rLr,.,
Name of contact person
Telephone number
SECTION LOCATION AND DESCRIPTION PROPOSED PROJECT
Name of designating body /
601/x�t 1 C i o Late /•n►a-,
Resolution number (s)
111-14 • 1J- 19/
Location of property
Coun�
County
DLGF tat d ct number
n ���
zo n>�
vc
Description of manufacturing equipment andlQr research and development equipment
b ..
ESTIMATED
sT DATE
COMPLETION DATE
and/or logistical distribution equipment and1 fJhformation technology equipment.
(use add. lonal sheets If necessary)
Manufacturing Equipment
sly I-
) J
S�u
R t4 D Equipment
Logist Dist Equipment
IT Equipment
ZG If
4 ZZ/17
SECTIONOF • AND SALARIES AS RESULT OF -••• r PROJECT
Current number Salarle• Number rehdned Salaries Number addtlonel
Z. 17)1657 S'Z• 1-71-Z $f-7 2
salaries
S2, oo O
SECTIONr TOTAL COSTAND VALUE OF -••• r PROJECT
GIST DIST
NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the MAEQU PMENTFACNG R & D EQUIPMENT EO UIPMENT
R EQUIPMENT
COST
ASSESSED
VALUE
COST of the property is confidential. COST ASSESSED COST ASSESSED COST ASSESSED
VALUE VALUE VALUE
Current values
Plus estimated values of proposed project
Or7
Lass values of any property being replaced
Net estimated values upon completion of project
Estimated solid waste converted (pounds)
Estimated hazardous waste converted (pounds)
Other beneflls:
SECTION•
I hereby certify that the representations in this statement are true.
Signature of aUli10 fe SEntdfi
Tide
Data signed (month, day, rear]
•. A -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 6-1.1-12A-2.5, provides for the following llmltatlons as
authorized under IC 8-1.1-12.1-2.
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.11mited 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. ❑lyy [IN o
4. Installation of new information technology equipment; (J�`fe s [] 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 if _ cost with an assessed value of
a Other limitations or conditions (specify) /G/G �l!['i Z046
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, o0& a
02 years ❑ 7 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 totality of benefits is qufficlent to justify the deduction described above.
Approved (slipqturs and We of ulhodzed m®mbar) Tel hone number Dates' ed {month, day, yroarj
' 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
r;y City of Richmond, Indiana
Taxpayer Wage & Benefit Information -
Company Name and Address: Vandor Corporation
ir
The information requested on this supplement to form SB-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 4109
2. Average hourly wage for projected new positions �3'
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 state(sj in which the equipment is being brought into Indiana fromil purchasing
used equipment r:
• 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, [ion -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 byX80 hours.
5
Rich Road
Computer software/hardwai