HomeMy WebLinkAbout1995-R-08 RESOLUTION NO. 95-R- ~
RESOLUTION APPROVING STATEMENT OF BENEFITS FOR
PURPOSES OF PROPERTY TAX ABATEMENT
WHEREAS, Heritage Hardwoods of Kentucky, Inc., a corporation,
has petitioned the City Council of the City of Jeffersonville,
Indiana, for a deduction in personal property taxes to be assessed
on machinery and equipment to be installed at the manufacturing
project site located in the City of Jeffersonville, Clark County,
Indiana; and
WHEREAS, Heritage Hardwoods of Kentucky, Inc., 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 total costs, 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 estimate of the cost and value of the machinery
and equipment; and
WHEREAS, the City Council of the City of Jeffersonville has
previously determined that the area in which the proposed 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 q// -R- ~--¢ ; and
WHEREAS, the City Council has reviewed the Statement of
Benefits submitted herein, and attaches and incorporates that
Statement to this Resolution. .
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Jeffersonville that it specifically and affirmatively finds as
follows:
That the estimate of the value of the machinery and equipment
is reasonable for projects of the nature described in the
Statement of Benefits submitted by the taxpayer.
o
That the estimate of the number of
employed or whose employment will be
be expected to result from the
manufacturing facility.
individuals who will be
retained can reasonably
proposed described new
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
facility.
That all other
of Kentucky,
4. information requested from Heritage Hardwoods
Inc., has been submitted, and the benefits
described in such information can be reasonably expected to
result from the proposed facility.
5. That the totality of benefits for said facility is sufficient
to justify the deduction.
BE IT FURTHER RESOLVED, that the City Council of the City of
Jeffersonville hereby approves the application for deduction
presented by the Statement of Benefits filed by Heritage Hardwoods
of Kentucky, Inc., and that said taxpayer shall be entitled to
deductions for a period of ten (10) years for machinery and
equipment installed, pursuant to the provisions of I.C.
6-1.1-12-3(d) and I.C. 6-1.1-12.1-4(d)(3), with the timely filing
and perfection thereof with the Clark County Auditor's office.
Passed and adopted this __~___ day of April, 1995, by the
City Council of the City of Jeffersonville, Clark County, Indiana.
Vresz~-~,~C2ty Council
ATTEST:
Clerk-Trea
Jeffersonville,
1995.
Presented by me as Clerk-Treasurer to the Mayor of the City of
Indiana, this /~ day of ,
Approved and signed by me this
1995.
_~__~ day of ~,
Mayor I~a-~m~nd-'Parker t '%-
H3706:30039
040495:h209 I2:S 1 ~ 1 hS-JE~
HER/TAGE RESOLUTION
State Form 27167 (R4110-93) SB ' 1
Form S8 - 1 is l~escfit~ed by the State Board of Tax Commissioners, 1989
I~TRUGT/ONS:
1. This statement must be submitted to the body designating the economic revititization area prior to the ~ublic headng if the designating body reduires infer-
mation from the agglicant in making its dec~sicn about wi?ether to clesigna~e an Economic Revititization Area. Othen~se this statement roust be submitted
to the designating bo~y BEFORE a person installs the new manufacturing edu~proent, or BEFORE the redevelopment or rehabitita#on of real proberty for
which the ~erson Wtshes to claim a deduction. A statement of benefits is not reduired ff the area was designated an ERA prior to July 1. 1987 and the
"project" was planned and committe~ to by the a~oticant, and at,roved by the designating body, prior to that date. "Projects' planned or cororo~asl to after
July I, 1987 and areas designated after July 1, 1987 reduire a STATEMENT OF BENEFITS. (lC 6-1.1-12.1)
2. Approval of the designating bedy (City Council, Town Board, County Council, etc.) roust t~e obtained prior to ini~ation of the redevelopment or rehabilitation,
or pdor to installation of the new manufactunng eduiproent, BEFORE a deduction roay 13e af~proved.
3. To obtam a deduction. Form 322 ERA. Real Estate Improvements and / or Form 322 ERA / PP, New Machinery, roust be filed with the county auditor. With
res~;~act to real prober~, Form 322 ERA must be filed by the later of: (1) May l O: or (2) thi~ (30) days after a nnt~Ce of increase in real preper~ assecsment
is received from the township assessor. Forro 322 ERA / PP must tie filed be~/een March I and May '15 of the assessment year in ~ new roanufac-
turing equ/Proem ~ecomes assessable, unless a filing extension has been obtained. A person who obtains a filing extension must file the form be~veen
March 1 and June 14 of that year.
4. Properiy owners whose Stateroect of Benefits was aggroved after July l, 1991 toust submit Form CF. I annually to sbew comgfiance witil the Stateroent of
Benefits. (IC 6.1.1-12.1-5.6)
Name of taxpayer
Heritage Hardwoods of Kentucky, Inc.
Address of ~ayer (s~ast a~ nu~r. ~, s~ a~ ZiP ~e)
1507 Production Road, Jeffersonville, Indiana
Name of contact percon ~lephone nu~er
Maurice Smith, President (812) 288-5855
Jeffersonville City Co~nc~l 95-R-
· '~tion of property /C°unty Taxing district
1507 Production Road, Jeffersonvill~ Clark Jeff Township
sheets if necessary)
5-1 -95
Hardwood manufacturing equipment (see attached list)
12-1-96
Cun'ent number Ssianes Number retainea Salaries Number additional Sala~as
65 1,524,000 65 1,524,000 14 378,000
COST of the property is confidential. Co~t Asses=ed Value C4~t A~__~___e~l Value
Cun'ent values
Plus esamated values 0f probesed project 8 35,4 9 9
Less vatues of any probeny being replaced
Net esbmateci values uDon completion of project 8 3 5 r 4 9 9
none
hereby certtf7 that the representations in this stataroent are true.
Date s~gned (mon~ay, year)
4/ ~ /95
HERITAGE HARDWOODS OF KY., INC.
MAURICE SMITH
EQUIPMENT LIST 1995/1996 EXP
ITEM
KUPER SPLICER
JOSTING DOUBLEKNIFE
AUTO GLUE APPLICATOR
END TRIMMER TAPER
12' FLEXOR
52" SANDER
CONVEYOR
FORKLIFT
VARIOUS SUPPORT EQUIP
QUOTED/EST COST
$296 952
$155 488
$ 63 793
$ 74 266
$ 60 000
$ so 000
$ 45 000
$ 20,O0O
$ 40,000
TOTAL FOR PROJECT: $835,499