The URL can be used to link to this page

Home My WebLink About1996-R-38 RESOLUTION NO. 96-R- -~' A RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PURPOSES OF PROPERTY TAX ABATEMENT WHEREAS, International Machinery Corporation has petitioned the Common Council of the City of Jeffersonville, Indiana, for a deduction in real property and personal property taxes to be assessed on proposed improvements to be made and equipment in the Clark Maritime Center, located in the City of Jeffersonville, Clark County, Indiana; and WHEREAS, International Machinery Corporation has submitted a Statement of Benefits on the form prescribed by the Indiana State Board of Tax Commissioners for such purpose, which statement includes a description of the proposed redevelopment, an estimate of the number of individuals who will be employed as a result of the redevelopment, an estimate of the annual salaries of these individuals, and an estimat3e of the value of the redevelopment; and WHEREAS, the Common Council of the City of Jeffersonville has previously determined that the area in which the proposed redevelopment project is located in the City of Jeffersonville qualifies as an economic revitalization area pursuant to Indiana Code 6-1.1-12.1 et seq., and Resolution 89-R-32 and Confirming Resolution 89-R-39; and WHEREAS, the Common Council has reviewed the Statement of Benefits submitted herein, and attaches and incorporates that Statement to this Resolution; NOW THEREFORE, BE IT HEREBY RESOLVED by the Common Council of the City of Jeffersonville, Indiana, that it specificall6y and affirmatively finds as follows: That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of the nature described in the Statement of Benefits submitted by the developer. 2. That the estimate of the number of individuals who will be employed or whose employment will be retained can reasonably be expected to result from the proposed described redevelopment or rehabilitation. That the estimate of the 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. That all other information requested from International Machinery Corporation has been submitted, and the benefits described in such information can be reasonably expected to result from the proposed described redevelopment or rehabilitation. That the totality of benefits for said redevelopment or rehabilitation is sufficient to justify the deduction. BE IT FURTHER RESOLVED, that the Common Council of the City of Jeffersonville, Indiana, hereby approves the application for deduction presented by the Statement of Benefits filed by International Machinery Corporation, and that said developer shall be entitled to deductions for a period of ten (10) years for improvements to real property, pursuant to the previsions of I.C. 6-1.1-12.1-3(d) and I.C. 6-1.1-12.1- 4(d)(3), and ten (10) years for equipment pursuant to I.C. 6-1.1-12.1-4.5, with the timely filing and perfection thereof with the Clark County Auditor's office. Passed and adopted this Y~/¢day of ~'~..~-~ , 199 9. ATTEST: C. Richard Spencer, Jr. / Clerk and Treasurer Presented by me as Clerk an~d Treasurer to the Mayor of said City of Jeffersonville this¢~ day of ~,~,~, 199..~. C. Richar(8 Spencer, Jr. ........... -c~-r~-a-n d~r re a s U ~:e r Approved and signed by me this ~/~day of ~ , 199~. Thomas R. Galligan, ~lay r~ 3 Suly 26, 1996 Clerk/Tre/isurer, City of Jeffersonville C. Richard Spencer City County Building Jeffersonville, IN 47130 I~TERNATIONAL MACHI2~ERY CORPORATION Dear Mr. Spencer: We request that the enclosed Statement of Benefits, State Form #27167 (R3/11-91), be placed on the appropriate agenda at the earliest possible date. Please notify me of the scheduled date as soon as scheduled by telephone or faxed letter. My fax number is (615) 754-4918. Thank you in advance for your consideration and cooperation in this matter. Sincerely, Susan Bush President and CEO copy: Chris V. Kinnett, Port Director Clark Maritime Centre Ann Marie Sedwick, City Attorney City County Building, Jeffersonville INTERNATIONAL MACHINERY CORPORATION 355 INDUSTRIAL DRIVE · MT. JULIET, TN 37122 ° (615) 754-5858 · FAX (615) 754-4918 )STATEMENT OF BENEFITS sm, ~,71~7 (~; ' INSTRUCTIONS: f, ~1~ ·Mt·merit must be ·ubmiffed to the ~ ~·Eng the eeo~wnto mv~·tlo~ ~re·~ tO ~.e ~ he_ar~g ff the de·~ting body requires In v.'h~:~ ~t~.e perso~ v.~he$ to ~ · ~ee~'tloIt. A ~t of be*,e~ ;~ ~ot r~16~'ed ff the ~a· ~ designated an ERA ~ to July I. 1987 end '~j~cf wa~ pMn~d ~ntf ce~nmt~m~ ~o by f~ appllc~nt, ar,~ ap~oved by the de~lg~a~lng bo~4 lwtor to that ~at·. 'ProJec~° plam~ed or mmmilMfl to a July I, 1987 a~l a~e·· de.ted ·tte~ July 1, f~Z ~qMre · STATEMI~IT OF BI~NEFr;~. fiC ~.I.I. f2. t) $. To obtain · ~eductlo~, Fo_n~ $22 ERA, Re~I E~ate Improvements m~I / or Fon~ $22 ERA / PR New Machl~. musf be filed wfth the c~unty eudil~ .m_ sp~. ~ .re. al prop~, Fo~m 322 ERA musf be flied by the later of: (I) May 10; m' (2) thinx (30) days aft~ · notice of increase in real pmper~y = receive. ~om #?a. .to~_h~ asse.~or. For~w ~ ERA / PP tl',ust be f~ed between Ma~ I am~l May I$ Of the assessment ),ear tn v.4~k:h new m~ulu~ .J~Mng equ~ment = l~stalled, ~ · flang ext~io~ ~a· l~t oOtakt~l. A pe~-.on v, flo obMIns a fllk~g exM~s~m~ ~ust lile the torm beMeen March 4. _Pr~ ov,~Mr8 ~ $tatemeM ol Benejtt~ ~ eppmved affor July I, 1991 mu~t ~ubmlt Form CF . ! annua~), to ~how oompliance with the SMtemen, Benerffs. (IC ~-I.! Name of INTERNATIONAL MACHINERY CORPORATION ~ el t~3ayer (street ami ,--.mr~, ~, ~ and 2~P 355 Industrial Drive, Mt. Juliet, TN 37122 Name of contact person Susan Bush Name of City Council 1302 Port Rd., Jeffersonville, IN Descs'i~n of re~ ~ I~r~n'~'~ ~ I ~ ~w ~uf~ equipment tO ~ ~uk~ (~ ~hfonal Addition to existing building. Machinery & equipment for productio~ sta'rtup per attached list. ITMep~one nun'~er (6 5)7,54-5858 96-R- Taxing dlsU~c~ . Jeffersonv~l le E~ s~ng date August 1996 E$ffmated c~'~etlo, date February 1998 3 IIndiana'-0- . 1255 (3rd y.r.)l$6:307,089 , Cumem value~ $1,37~, OOO O ~ J. W. Chaput Treasurer Date signed (month, 7/22/96 ....... p . 9.olution prevloCfSly, approveo oy this body. :~ald resolution, passed under lC 6-1 1-12 1-2 ti ro- vmos for the to.owing llmltotmns as authoSzed under lC 6-!.1-12.1-2. ' ' ' ' p A. The designated area ha. bean I~rn~ted to I Period of time not to exceed calendar yea~ ' (;es below). The date this designation axplrea B. The type of dequotiofl that t~ allowed in ~ha designated area L~ ~n'dted to: 1. Re~valopment or rehabilitation of real estate improvement~; f-I Yes {::::] No 2. Installation et new martufectudng equipment; F1 Yes r-) No 3. Residentially distressed areas r'l Yes I'1 No C. The amount of deduction applicable for new manufacturing equipment lngtaliod end first claimed eligible for deduction afler July 1987. is limited lo $ co~t with an assessed value of $., D. The amount of deduction applicable to redevelopment or rehabilitation in' art area designated after September 1, 1966 is lam;ted to $, , cost with an assessed value of $ ,, E. Other limitations or conditions (apeoffy), F. The deduction Jar new manufacturing equipment Installed and first clatmed eligible for deduction after July 1, 19911s allowed lot: [:] ti years r'"l 10 year~ _A~? _w_e~h~a_ve_re= _v~we.d th.e.!nfo .m~afion cord.a.tned In ff:t.e statement of benefits and find that the estimates and expectations are reason. ° If the d~signa~ng ~ody limlt~ the lime period d~r~ wh~h an area I~ an economic m~t~lz~on ere~. it do~s not limli the length of tfme Five (S) Year Ten (10) Percentage Pareen~ge Year of Three (3) Year Six (s) Year Ten (10) Year Deduction Deduction Deeuc'tlon Deduction 1st 100% 100% 100% 2nd 66,% 85% 95% 3rd 33% 66% 80% 4Ih 50% 65% 5Ih 34% 50% 6th 17% 40% 7th - 30% 8Ih 20% 9th 10% 10th 5% TOTAL 0 0 0 0 oo§oooo~o,SoS~6oS ~ o ............. o666o60oo~oo00oo- 6 ....................... ~ I