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Home My WebLink About2009-R-0504/14/2009 13:49 8122855074 FORMWDDD PAGE 03/05 RESOLUTION N0.2009-R RESOLUTION APPROVING STATEMENT OF BENEI~ZTS FOR PURPOSES Oh' PERSOI~IAL PROPERTY TAX A$ATEMF'NT WI.~EREAS, Formwood Industries, Inc., has petitioned tlae Common Council of the City of Jeffexsonville, Indiana, for a deduction in real property taxes to be assessed on the proposed new equipment to be Located in the Jeffersonville Industrial Park located in the City of Jeffersonville, Claxk County, Indiana; and WHEREAS, FOYY71WOOd IndllStrieS, Inc., has subt>rxitted a Statcrx~ent of Benefits on. the foron. prescribed by tb.e Indiana State Board of Tax Commissioners ;for such purpose, which stiitement includes a description of the proposed x~ew equipment an estimate of the number of individuals wlio will remain. employed as a result of the new equipment, an estimate of t(xe at~~.ual sal.axies of these individuals, and an estimate of the value of the new equipment; and WHI/>ZEAS, il~e Cotnnrron Council has reviewed the Statement of Benefits ,and incozporates the Statement of Benefts submitted herein, to this Resolution. NQ'VV, THEREFORE, BE IT RESOLVED by the Common Council of the City of Jef,.~ersonville, Indiana, that it speciJ~cal.ly and af'~txnatively finds as follows: 1. That the estimate of the value of. qualifying manufacturing equipment of. $263,000 is reasonable for the nature of this project described in the Statement of Benefits submtitted by the coxzxpany. 2. T11at the estimate of the number of 50 individuals who will be retai~ped as employed cart reasonably be expected to result from the proposed described new equipment. 04/14/2009 13:49 8122855074 FORMWOOD PAGE 04/05 3. That the estimate of the annual salaries of $],372,000 of those individuals who will be retained can be reasonably expected to result from the proposed described new equipment. 4. That the purchase and installation of the qualifying manufacturing equip~.~ent must be completed within one (])year frorx~. the date of. the gxatcd abaterent. 5. 'What the taxes lessened from the granting of the abatc~ent sha1,1 be used for manufacturing equipment up to the purchase price of $263,004. 6. That all ocher izxformatxon requested from Formwood Industries, Inc_, leas been subruitted, and the beztefiits dESCribed it1 such inforrzxation can be reasonably expected to result from the proposed described new equipment. 7. That th,e totality o~'benefits for said new equipment is suFficient to justify the deduction. 3. That 1~rnYnwood Industries, Inc. has agreed to the payment of a fee of ] Q% of the annual benef t of the abatement to the Jeffersonville City Coua~cil annually as described iri IC 6-].1.-12.I-14. BF- IT FI.TRT1`IE~ RESOLVEb, that the Common Council of the City of Jeffersonville, Indiana, hereby approves the application fox deduction presented by the Staterrcent of. Beza„efits £zled by Fozrxrwood Industries, Inc., and that said company shall be entitled to deductions fox a period of five (5) years oz~ qualifying personal property pursuant to the provisio~~s of IC 6-i.1-I2.4 for personal property, with the timely filing aszd perfection thereof with the Clark County Assessor's office d4/14/2009 13:49 8122855074 STATEM~IVT ~F BEIVI~FiTS .~ P~RSOI~AI~ pRppERTY ra "~ State Form 51784 (R I 1-06) Proscribed >ay the Department o1 Local Government Finance FORM S$~1 / PP PRfVACY NOTICE Tho cowl and any spoclflc indfvldusra befah le of tlxtnllng1els p bllc recFe da 1NS7RUCT10NS; erICB•1.7-12.t.g,1 c and d. 9. yRis statement moat be submlttad to the body designating the Economic Revltelizat/on Araa prior to the public hearing if the des/gnatfng body requires inft)Imation fTDm the appltrant in making its docfsicn about whether to designate an tcconomfc Rovitalfzatlon Area, Otherwise this statement must be submitted to the deslgneting body 19EFORr= a person installs the new manudacturing equipment and/ar research and development squipmen[, and/or /ogfstical drstnbutfon equipment and/or info»natlon technology aquiprrtant for whfrh the person w/sites to claim a deduction. projects" p(annod or commifted to aRer July 1, 1987, and arose des)gnated aRer July 7, 1987, require a STATEMt"NT CF DENT=FITS. (IC & 7. t-72, 9) 2. Approval of the designating body (G(y Councl/ Town Board, County Council, eto,) must be obtained prior td installation of the new manufacturing equlpment and/or research and devaloplnent equipment and/or/oglsGcaf disMbuUon equlpment and/or;nPormetion tochnology equipment, [~1rFORtS a deduction mr~y be approved 9. To obtain a deduction, a person must Blo a certlBod deduction ecbedule with the person s personal property return on a certified deduction schatlule (Form to3-ERA) INfth the iownshlp assessor of the township whero the propery is siluatod. The io3-ERA must be filed between March f and Mey 15 of the assessment year In which new manufacturing oquipment and/or research and development equtpment and/or logistical distribution equipment and/or (nliormatian technology equipment is installed and fully funedonal, unless a R/fng extension has been obtained A person who obtains a filing axtenslon must file the form between March i end the extendod due date of that yoer. 4. Properly owners whose Statement of Benefits was approved after June 3p, 1899, must submit Form Ct =1 / PP annuetty to show compliance with fhe Statemenfofpenefits. (!GS-7.7-12.9"~6) 5. The schedules estebllahed under tC B-1, i-T2. •f-4.5(d) and (e) apply to equlpment Insta/lod after March 1, 20U7, For equlpment ;nsialied pnor to March 2, 20t)9, the schedules and sfatutee fn effect et the time shat! continue to apply. (IC 6-9.1-72, i-4.5(fj and (g)) N4mo of taxpayer _ _ Pormwood Industries, Inc. Addrmsa of taxpayer (number end street, cpx afa1~, and zJP Dods! 1601 Production Road, Jeffersonville, IN 47130 Name of eentliet person DBVid Stauble Telephone number (812) 284~387't3 r o ^ ^ ~ a -~"^ ^ •-• Name of deslg~wting body l;asoludon number (,) Formwaod Industries, Inc, __ N/A Locadon of prCpo,ty ~ County DLGF taxing diaUlct number '~ 1609 Production Road, JefFersonville, IN 47130 Clark Desrriptlon o1 manufacturing equlpment and/or research and development equlpment ESTIMATED and/or Ingialical dlstrlbudon equlpment and/or Information technology equipment. (use additional shoots ifnecessary) START OnTE COMPLE71oN HATE 1.) Sander 2,) Plant Lighting Conant number Isnlariea Number rotalneo 50 __~ 1,872,OQ0.00 50 Manufechadng EqulpmQnt 06/09/2009 07/31/2009 R tt, D Equipment Loglst Dist Equipment IT Equipment Salartea Numbpradditional salaries 1,872,000.00 NOTE: Pursuant t0 1C 8-1.1-72,1-5,1 (d) (2) the MANUFACTURING E UtPMENT COST of the property is con5dentlal. Cbt3T ASSESSED VALUE Current values 35,250,00 Plus estimated values of proposed project zls3,ooo.oo Less values of any props being replaced 35 2,5q,gq Net estimated values upon.comp/etlon of pro]ect zz~,~5o,go FORMWOOD PAGE 02/05 R 8" D @CtUIpMENT ~ LOGIST C09T ' A5SIe5SFD I COST IENT IT EQUIPMENT ASSESSED r,DST ASSt_95E0 VALUE ~LUf= Estimated solid waste converted (pounds) I Estlmatad hazardous waste converted (pounds) Other beneri~: -- 1.) Sander -Improved quality o1 sending veneer results in lass wa4ke; improved finished product; retsina employees. sr~ PIBn~t Lie g _ Itllproved quality of veneer by seeing material better, Improved finished product; Improved work ph I hereby cerdfy that the reprosehlationa in this statement are true. for t[fr° Dste signed (nr fh, day, year) V.P, of Operations .=, ,/ ; / ~; `i , X4/14/2009 13:49 8122855074 FORMWOOD PAGE 05/05 passed and adopted thisa~~~day of ~~r 1 , 2009 by the Comlt~,on Council of the City of Jeffersonville, Clark County, It~daana. president, Canuxzon Council ATTEST: Clerk -Treasurer Presented by me as Clerk ,Treasurer to the :Mayor of the City of Jeffersonville, India~za, the~~day of~~-,D~--; ~ , 2009 -~`~""'_ C ~. _ ~. Clerk -Treasurer .` This,.,` day of , 2009 a 1V.layor