HomeMy WebLinkAbout2010-R-21RESOLUTION N0.2010-R-/~~
RESOLUTION APPROVING STATEMENT OF BENEFIT FOR
PURPOSED PERSONAL PROPERTY TAX ABATEMENT
WHEAREAS, Southern Indiana Plastics, Inc., has petitioned the Common
Council of the City of Jeffersonville, Indiana, for a deduction of personal property taxes
to be assessed on a proposed expansion to be located at 1606 Dutch Lane located in the
City of Jeffersonville, Clark County, Indiana; and
WHEAREAS, Southern Indiana Plastics, 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 redevelopment, an
estimate of the number of individuals who will be employed as a result of the
redeveloped, an estimate of the annual salaries of these individuals, and an estimate of the
value of the redevelopment; and
WHEAREAS, 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.
WHEAREAS, 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 find as follows:
1. That the estimate of the value of qualifying manufacturing equipment of $428,000
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 14 individuals who will be additionally
employed can reasonably be expected to result from the proposed described
redevelopment.
3. That the estimate of the annual salaries of $436,800 of those individuals who will
be added can be reasonably expected to result from the proposed described
redevelopment or rehabilitation.
4. That the purchase and installation of the qualifying manufacturing equipment
must be completed by December 31St, 2013.
5. That the taxes lessened from the granting of this abatement shall be used for
manufacturing equipment up the purchase price of $428,000.
6. That all other information requested from Southern Indiana Plastics, Inc., 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 Southern Indiana Plastics, Inc. has agreed to the payment of a fee of 10% of
the annual benefit of the abatement of 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 Southern Indiana Plastics, Inc., and that
said company shall be entitled to a deduction for a period of FIVE (5) years for
personal property improvements, pursuant to provisions of IC 6-1.1-12.4, with
the timely filing and perfection thereof with the Clark County Auditor's office.
This Ordinance shall be in full force and effect from and after its passage and
approval.
Passed and adopted this day o , 2010, by the Common Council of
~,~.
the City of Jeffersonville,
Common Council
ATTEST:
Peggy Wilder, Clerk-Treasurer
Presented by me as Clerk-Treasurer to the Mayor of the City of Jeffersonville,
Indiana, this, day of , 2010
Peggy Wilder, Clerk-Treasurer
.U,
This ~~ day o , 2010
/~ ~ ~
Thomas R Galligan, ayor
ATTACHMENT TO THE STATEMENT OF BENEFITS
FOR SOUTHERN INDIANA PLASTICS
AUGUST 11, 2010
The council will grant 5-year abatement on $428,000 in personal property as allowed by
state statute. This applies to qualifying new equipment order after the abatement is
granted and is subject to the dollar limit specified on the SB-1. This abatement will only
apply to equipment purchased and installed by December 31St, 2013
The company will provide jobs and salaries as specified in the SB-1 and any attachment
thereto. The "salaries" on the SB-1 is agreed to mean base hourly wages, without
overtime or benefits, times 2080 hours per year for the number of employees as indicated
in Section 3 of the SB-1. It is the expectation of the council that the company will reach
the number of employees and average wages specified on the SB-1 within three years of
the date of the granting of the abatement. The company understands that his abatement is
being offered based upon those jobs and wages. If the company fails to substantially
reach those numbers or fails to maintain those numbers over the life of the abatement, the
council may as provided by law rescind this abatement. The company agrees to make
available any and all information the council deems necessary to verify compliance.
The company agrees to pay an annual fee of 10% as described in Indiana Code 6-1.1-
12.1-14.
SOUTHERN INDIANA PLASTICS
oger allwood
President
.-if
e~ ~ STATEMENT OF BENEFITS
r'~1 PERSONAL PROPERTY
~~~~ State Fonn 51764 (R f 1-06)
~~!-i Prescribed by the Department of Local Government Finance
FORM SB-1 ! PP
PRIVACY NOTICE
Tha coat and any specific individual's
salary informatan is oontidendah, the
bal~ce of the filingg is public record
IC 6-1.1-12.1-5.1 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
information from the applicant in making its decision 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 and/or research and development equipment, and/or logistical distribution
equipment and/or Information technology equipment for which the person wishes to claim a deduction. "Projects" planned or committed fo aAer Jufy 1, 1987,
and areas designated afierJuly 1, 1987, require a STATEMENT OFBENEFfT5. (!C 6-1.1-12.1)
2. Approval o/the designatfng body (City Council, Town Board, County Council, etc.) must be obtained prior to installation of the new manuracl wring equipment
and/or research and development equipment and/or logistical dtstribuilon equipment and/or information technology equipment, BEFORE a deduction may
be approved
3. To obtain a deduction, a parson must file a cerii~ed deduction schedule with the person's persona! property return on a certified deduction schedule (Form
103-ERA) with the township assessor of the township where the property is situated. Tha 103-ERA must be filed between March 1 end May 15 of the
assessment year in which new manulacfuring equipment and/or research and devetopmenf equipment and/or logisttcaf distributton equipment and/or
information technology equipment is installed and fuNy functional, unless a filing extension has been obtained. A person who obtains a filing extension must
fits fha form between March 1 and the extended due date of that year.
4. Property owners whose Statement of Bene/its was approved after June 30, 1991, must submit Form CF-1 I PP annually to show compliance with the
Statement of Benefits. (fC 6-1.1-12.1-5.6)
5. The schedules established under IC 6-i.1-i2.1-4.5(d) and (e) apply to equipment installed aRer March i, 200?. Far equipment installed prior to March 2,
~nny thA schedules and statutes in eN'ect at the time shall continue fo appty. (IC 6-i. i-12.1-4.5(t) and (g))
•- •
~
Name of taxpayer
SOUTHERN INDIANA PLASTICS, INC.
Address of taxpayer (number and street, cifK state, and Z1Pcodej
1606 DUTCH LANE JEFFERSONVILLE IN 47130
Name of contact person ' telephone number
ROGER SIiAI.LW00D I 2 0
Name of designating body Resolutbn number (s)
Locafion of property County DLGF taxing district number
1606 DUTCH LANE, JEFFERSONVILLE, IN 47130
CLARK 10009
Description of manufacturing equipment andlar research and devetopmenf equipment ESTIMATED
and/or logistical distribution equipment and/or information technology g~uiprJt~ill.
START DATE COMPLETION DATE
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(use additional sheets if necessary) Leasing a
. 2011 2013
with total amount being 50,000 sq. ft. for Toyota Manufacturing Equipment
and Honda production components. Will need new R8 D Equipment
machinerq and equipment a>id.software to increase
capacity as well as hire additional staffing, Logist Dist Equipment
managers and supervisors. IT Equipment
Current number Salaries Number retained Salares Number adrFiiorrel Salaries
27 ;864,000 27 X864,000 14 800
-.•. . •-.
NOTE: Pursuant io IC 6-1.1-12.1-5.t (d) (2) the MANUFACTURING R 8 O EQUIPMENT LOGIST DIST IT ECfU1PMENT
EOUIPMENT E UIPMENT
COST of the property is confidential. COST ASSESSED COST ASSESSED COST ASSESSED COST ASSESSED
VALUE VALUE
VALUE VALUE
Current values 2M I.SM 45 , 000 20 000
Pius estimated values of proposed pro)ect 414 500 I3 500
Less values of any property being replaced
Net estimated values upon completion of ptrojeCl
~ • ~ ~ • -• r
Estimated solid waste converted (pounds} -0- Estimated hazardous waste converted (pounds) -0-
Other benefits:
•
~
I hereby certify that the representations in this statement are true. ~
Signature of autttoriz sentative Title Date signed (month, day, year}
RESIDENT 6 O
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 6-1.7-12.1-2.5, provides for the following limitations as
authorized under iC 6-1.1-12.1-2.
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 1~`~~"fig
B .The type of deduction that is allowed in the designated area is limited to: dYe s ^ N o
1. installation of new manufacturing equipment;
2. InstaNation of new research and development equipment, ^ Ye s ^ N o
3. Installation of new logistical distribution equipment.
4. Installation of new information technology equipment; Yes ~ N o
y~~_ cost with en assessed value of
C. The amount of deduction applicable to new manufacturing equipment is limited to $
E .The amount of deduction applicable to new logistical distribution equipment is limited to $
D. Tha amount of deduction applicable to new research and development equipment is limited to $
with an assessed value of $ __~~_~__________~
`'' cost
'-" cost with an assessed value of
$ ~~ {
F. Tha amount of deduction applicable to new information technology equipment is limited to $ l ~ J d c7 cost with an assessed value of
$ P3~5z~n
G. Other limitations or conditions (specify)
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 far deduction on or after Juty 1, 2000, is allowed for.
^ 1 year ^ 6 years "For ERA s established prior to July 1, 2000, ~ht a
^2 years ^7 Years 5 or 10 year schedule may tie deducted.
^3 years ^8 years
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 sufficient to justify the deduction described above.
Telephone number Date sued (month, day, year}
Oesignaled body
~vp _p
e titledtlo receive adaduotion to atnumber of yea des gnated under lC 6-1A.1 12 14.5 alization area, it does not limit the length of time a taxpayer s