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Home My WebLink About2008-R-18RESOLUTION NO. 2008-R- / S RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT WHEREAS, C&G Technologies, has petitioned the Common Council of the City of Jeffersonville, Indiana, for a deduction in real property taxes to be assessed on a proposed expansion of an existing business to be located in the Silver Creek Indushial Park, located in the City of Jeffersonville, Clark County, Indiana; and WHEREAS, C&G Technologies, Inc., has submitted a Statement of Benefits on the form prescribed by the Indiana Stale Boazd 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 estimate 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 6-1.1-12.1-5, et seq. WHEREAS, the Common Council has reviewed the Statement of Benefits and its attachment "A" submitted herein, and attaches and incorporates the Statement of Benefits submitted herein, and attaches and incorporates the attachment "A" to this Resolution. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Jeffersonville, Indiana, that it specifically and affirmatively finds as follows: 1. That the estimate of qualifying real estate improvements of $1,200,000.00 is reasonable for projects of the nature described in the Statement of Benefits submitted by the company. 2. That the estimate of the number of 32 individuals who will be additionally employed can reasonably be expected to result from the proposed described redevelopment or rehabilitation. 3. That the estimate of the annual salaries of $1,900,329.00 of those individuals who will be added can be reasonably expected to result from the proposed described redevelopment or rehabilitation. 4. That the taxes lessened from the granting of this abatement shall be used for improvements in real estate up to the value of $1,200,000.00. 5. That al] other information requested from C&G Technologies, has been submitted, and the benefits described in such information can be reasonably expected to result from the proposed described redevelopment. 6. That all other information requested from C&G Technologies, has been submitted, and the benefits described in such information can be reasonably expected to result from the proposed described redevelopment. 7. That the totality of benefits for said redevelopment is sufficient to justify the deduction. 8. That C&G Technologies, Inc. has agreed to the payment of a fee of 10% of the annual benefit of the abatement to the Jeffersonville City Council annually as described in IC 6-1.1-12.1-14. 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 C&G Technologies, and that said company shall be entitled to deductions for a period of TEN (10) years on for improvements to real property, pursuant to provisions of LC. 6-1.1-12.1-3(d) and LC.6-1.1-12.-49(d)(3) with the timely filing and perfection thereof with [he Clark County Auditor's office Passed and adopted this_day of , 2008, by the Common Connell of the City of Jeffersonville, Clark Coa ~ndi~na. r President, Common Council ATTEST: Peggy Wilder, Clerk-Treasurer Presented by.~Jme as Clerk-Treasurer to the Mayor of [he City of Jeffersonville, Indiana, this ~J day of~, 2008 C~e~ti ~ Peggy Wilder, Clerk-Treasurer This 5 tL day of , 2007 ~ a- ~ t Thomas R Galligan, B7/10/2BB8 18:22 8122807940 C&G TECIiNOLOGIES PAGE 02/03 .. 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Yeda, elaamneraro ro applyro a ehfwrprl dWneAefretlbaroro KIne WYxayer CtiG TeohnaJo 'n, Inc. eetlaw x n.pya. M,,,rsa wmaer, dx ebb, sro av way 8208 Gheena h011 Rd. Jegereom.Ob IN 47130 arwrexlpnaw Sa.MaM x.nn n..w ddaa O Kremer 812 280.0048 n NwMYaORiPrxM9MM' a0igxbnnankp lwalbnxpoperry CwnN nLGFtuap xok[rumber Sarno above owaagenxre. awwNy6pawneia,ndraAq rent o. PNr exavawry) dx.taxaym.q,, ax1M Phase 1- DminegelDdvewey & Loeding Doak ImprwemenLS 1fL008 Phase 2- Connee8ng Walkway fMO adJacent 6ulldng (wndmred In sec8on 6 below) mneeamrµvcnaex(rriexr, wk1~ 121912008 amrxnuaacr adiame Nnnawrelr.d sxw4e wrm.raedwa.l exam. 38.00 221000.00 30.00 3221000.00 3200 S190D 328.00 fb1E: FlawaramlCf.1.1-121S.t fd)(2)me coaldNe prouery ftEa4 ESIAl~ta~npaadgxta m mrlltlonW. c0.4f A!l8F8t3QeVALUE CunmlvWw - 00 00 1 000. ~B'~0~re14°Of ~ex 1.200,000ce 1200000.00 law vamead lax cad Idet eetlmemp wa,w d 2100.000 ,000000.00 F-9arlxed fibd Wa9le WIIYMed (aaWda) Fig110Md IlaffidWa Wd61B Mr'IBfIBd (/wrada) Oeafberabx Phase 3" Cannectlng ssura+re taldt office space 8 decoragve towartotel Ie88 than 1000 square feet. -Phgsp 4 Full build ouVaxparrslon behreen our two bulldings by adding eppresimately 14,000 square feet. Th0. b by far the moat signtecant Phew Or ow praJest arW brdudes the addi0on of 12 new atagirlg bays ~ camdemerd our current B sia9in9 bays. Ih there rn lhla amtamem an tore. ro n ~ ~ -~ ' tme o~xaxd Aaaan. ma y..d Prealderd 07!10/2008 v may. o« We have reviewetl our prior actions relating to the designation of this Economic Revitalization Area antl fintl Thal the applicant meets the general slantlartls adoptetl in the resolution previously approvetl by this botly. Saitl resolution, passed untler IC 6-1.1-12.1-26, provides far the following limitations as authorized untler IC 6-1.1-12.1-2. A. The designated area has en li tetl to~a,periotl of lime no[ to exceed ~_ calendar years ` (see below/. The date this designation expires is ~ - /~., x B. The type of deduction that is allowetl in the designated area is limited lo: r~y' 1 . Redevelopment or rehabilitation of real estate improvements; ,~7y'es ^No 2. Residentially distressed areas ^ Ves ~IV o C.ihe amount oof tlnetl~ucfion applicable for redevelopment or rehabilitation is limited to $ ~ ~ ~ ~6~ ~bost with an assessed velue of $ ~/~y ODFJ Ar. r v D- Other limitations or conditions (specify) ~ d E. the deduction for redevelopment or rehabililafion is allowed for ~ ~ years` (see below). Also we have reviewetl the information contained in the statement of benefits antl fintl that the estimates antl expectations are reasonable and have tleterminetl that the totality of benefits is sufficient to justify the tleductian describetl above. (IC 6-1.1-12-3(b)) novae: (signaru2 ana nne Waumonzee memne.) relepnona numeer Hoare signee (mourn, aay. yead amy ' If the tlesignafing botly limits the lime periotl tluring which an area is an economic revitalization area, it does not limit We length of time a taxpayer is entitled to receive a tletlucflon to a number of years designated untler IC fi-1.1-12.b4. Far residentially distressed areas, the deduction period may not exceed fve (6) years. If the Economic Revitalization Area was designated prior to July 1, 2000, the tleductian periotl is limited to three (3), six (6), or ten (10) years. Far ERAS after June 30. 2000, the tletlucfion periotl may not exceed ten (10) years. An area tlesignafed as an urban tlevelopment area pursuant to an application filed aker December 31, 1978, and prior to January 1, 1986, are entitled to a ten (10) year deduction. ATTACHMENT"A" ATTACHMENT TO THE STATEMENT OF BENEFITS FOR C&G TECHNOLOGIES AUGUST 4, 2008 The Common Council, City of Jeffersonville, (the Council) agrees to grant to C&G Technologies (the Company) a ten (10) yeaz property tax abatement on real property improvements with an estimated value of $1,200,000, as allowed by applicable statutes. The abatement period often (10) years will begin in the first year used for any real property abatement and will continue for nine (9) additional years. The company agrees to retain at least 36 jobs with at least $2,221,000.00 in salaries and will additionally provide an estimated 32 jobs with $1,900,329.00 in salaries as specified in the Statement of Benefits and any attachment thereto. The Company agrees "salaries" on the Statement of Benefits means base hourly wages, without overtime or benefits, times 2050 hours per yeaz for the number of employees indicated in the Statement of Benefits. It is the expectation of the Council that the company will endeavor to reach the number of employees and average salaries specified within three years of the date of the granting of the abatement. The company understands thaC this abatement is being granted based upon [hose jobs and wages estimated and offered by the company. If the company fails to substantially reach or maintain those numbers over the life of the abatement, the company agrees and understands that the Council may, unless prohibited by Indiana law, rescind this abatement and require the company to repay, pro-rata, any or all property taxes that have been abated. The Company agrees to make available any information the council deems necessary to verify compliance. The Company agrees to pay an annual fee of 10% of the amount of real property taxes abated during each yeaz of the abatement as described in Indiana Code 6-1.1-12.1-14. C&G