HomeMy WebLinkAbout2011-R-05 RESOLUTION NO. 201I -R - , 1 i
RESOLUTION APPROVING STATEMENT OF BENEFIT FOR
PROPOSED OF REAL AND PERSONAL PROPERTY TAX ABATEMENT
WHEAREAS, flexible Materials., has petitioned the Common Council of the
City of Jeffersonville, Indiana, for a deduction in real and personal property taxes to be
assessed on a proposed expansion to be located at 1202 Port Road located in the City of
Jeffersonville, Clark County, Indiana; and
WHEAREAS, Flexible Materials, 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 value of the qualifying real estate improvement of $206,500 is
reasonable for projects of the nature described in the Statement of Benefits
submitted by the company.
2. That the estimate of the value of' qualifying manufacturing equipment of $237,652
is reasonable for projects of the nature described in the Statement of Benefits
submitted by the company.
3. That the estimate of the number of 66 individuals who will be employed can
reasonably be expected to result from the proposed described redevelopment of
rehabilitation.
4. That the estimate of the annual salaries of 2,744,612.00 of those individuals who
will be added can be reasonably expected to result from the proposed described
redevelopment or rehabilitation.
5. That the purchase and installation of the qualifying manufacturing equipment
must be completed within three years.
6. That the taxes lessened from the granting of this abatement shall be used for
manufacturing equipment up the purchase price of S237,652, and for
improvements in real estate up to the value of $206,500.00
7. That all other information requested from Flexible Materials., has been submitted,
and the benefits described in such information can be reasonably expected to
result from the proposed described redevelopment.
8. That the totality of benefits for said redevelopment is sufficient to justify the
deduction.
9. That Flexible Materials. 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 -1A- 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 Flexible Materials., and that said company
shall be entitled to deduction for a period of TEN (10) years for improvements to
real property, pursuant to provisions of I.C. 6 -1.1- 12.1 -3(d) and FIVE (5) years
on qualifying personal property pursuant to the provisions of IC 6.1.1 -12.4 for
personal property, with the timely tiling 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 tbisl day of 011, by the Common Council of
the City of Jeffersonville, Clark County, Indiana.
n ,l,,
President, Common Council
ATTEST:
Peggy Wilder, Clerk - Treasurer
Presented by me as Clerk- Treasurer to the Mayor of the City of Jeffersonville,
Indiana, this I day of • ,2011
t.
N %■
Peggy Wilder, Clerk- Treasurer
This -4 9 1 _ day o1011
�', - 5
Thomas R. Galligan, Mayor
ATTACHMENT TO THE STATEMENT OF BENEFITS
FOR FLEXIBLE MATERIALS
February 28, 2011
The council will grant a 10 -year abatement on 5206,500.00 in real property and 5 -year
abatement on $237,652.00 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 within 3 years from date of passage.
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.
FLEXIBLE MATERIALS
Rod Beyl
Chief Financial Officer
4:A= STATEMENT OF BENEFITS xo PAV20 —
r;/ REAL ESTATE IMPROVEMENTS
*�. Sete Form 517fi71R2 FORM 56.11 Rw1 Property
Presented by the Department d Local Government Fr once
This statement is being completed for real property that qualifies under Iho Tollowslg IrlSana Code (check nnc 004
Redevabpmonl or rehabililadon of real estate improvements (IC 6 -1.1- 12.1-4)
❑ Eligible vacant butting (IC 6-1.1- 12.1 -4.8)
INSTRUCTIONS:
1. This statement must be submitted to the buoy designefkg fir Econo nk Revesarafion Area prior to the public hearw,g if the designseng body requires
blfermatJm, from the app'iraot re making its decision about whether to desgnak, an Economic RenleliacnArea. Otherwise Ills statement must be
submitted to the desfgnetkvbody BEFORE the mdevelopmenf orrerebefteon of real properly for which the person wishes to dei n a deduction.
'Projects' Owned or committed fo alter July 1, 1987 - end areas ouigrated after July 1, 1987, requke a STATEMENT OF BENEFITS (IC a- 1.1.121)
2. Approval of the dacgnabhgbody (Cry Council, Town B080, Coun 'CarnSD, etc.) most be obtained prior to inieefkn of the redeink>pmefN or reha6NYaIkn,
BEFORE a deduction may be approved.
a To attain a deduction, Auprkoton Form 322 ERA/RE or Fam 322 ERAN8D, W &'vhetetis applicable. must be Ned wtth the County Auditor by the lakr
of.: (1) May 10; or (2) rekty (30) days after the nice of adrbfkn to assessed vafpa(kn or new assessment is mailed to the property awe, at the address
shown on the records of Me township assessor
d. Property owners whose Statement of BeneOls was approved after June 30, 1901. must attach a Fomr CF- llReal Property »nnuaay fo the application (o
show compliance with the Statement of 8onefrts. pc 6- 1.1.12.1.5.7(6) end 1C 6.1. 12.1- 5.3(u1
5. The schedules established endedC6- 1.1- IZI -4tl) for rehabilitated property and under lC6- 1.1.1214.8(f)for vacant holdings apply le anynetemcnl
of benethsapproved on or alter July 1, 2000. The schedules etea,Yeprior to Jury 1, 2000, shay continua lo msg. to 8 statement ofbene.ls tkdbefore
July 1, 2000.
SECTION 1 TAXPAYER INFORMATION
wmearavlxe� , Lk$i `
A�W �3 - � �� rl
Address d taxpayer (number and tweet elk stow, and OF coda) _.. -
Zoo3 TUN WoonS Cr. S�F.LERS ISItB 94 4'11'72
Namo of tented parse ' RleMee number
fYL- Eyreiladdmss
z;12,2 - �3Z 6 g7BEy<23 - ItslCaliT'$B co-
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT
Nemoa deskriaerg body
TtF7C nEILE likrZelkiS , fr4C Itemlubn manner
Locetbn dprdpary --- Ccunty CLOP teorne dlebSt number
SbI MktrFae ell1 , 7IFFS3i VILLE IwJ 47130 QI.AQI�
Oescrpten of real weeny anpovempda, redwdopmens rehablbaeun foss eddeona shaW dnezvaaryJ Sampled plan dam payee, day, )eel
CCM1it8l L c,stmmN6 1� - !'€ta•FR' cFpre s4=Werta.J (O C A .. I . - .. ) ..r- l � •NEN , I�i , a ° 1 J I f f f
1LI'4 Sn � , n R•esuR-FPPJnC� , ThkcH�Ti ac '. zn it Edmmed . Elmwood)ElmwooElmwood)), oar. Yee0
Zr2
I)Tf$c r5 FDI
WALL 4 tstf50 Kr +1 , lESIGPT3, adflOk4CE HdLrl;cFfksd tz ar t!
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT
Currant ,umber Saa1ea 7EM- Number resoled S,Jfle Mobs, addbbnal hEhl Satrles Ne.44 rJA
1 124 9% c1 I 1o4 -. 64 NA Z'4 612
SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT
NOTE: Pursuant to IC 6- 1.1.12.14.1 (d) (2) the COST of the properly REAL ESTATE IMPROVEMENTS
is confidential _ COST ASSESSED VALUE
Cunenl values
Plus estimated values of proposed prgest 4 zoo So
Loss values of any properly being replaced _ —
Net estimated values upon carroretion of project
SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER
Estimated said waste conrered (pounds) _ Estimated nazordous waste converted (pounds) -
Ober benefits
SECTION G TAXPAYER CERTIFICATION
1 hereby ,i 1y that the representations 1 is statement are true.
Signal°. ; 1} /_ rem a . —/ ._ (niq
�/ Cotosynet . tax yea!)
Page: 1 a2
•
FOR USE OF THE DESIGNATING BODY
• We have reviewed our pea actions relating to the designation of this Economic RevitslbationArea std End that the applicant meets Ida general sander&
adopted In the resoluacn prevloualy approved by this body. Said resolution, passed under IC 6-1.1 -12.1, provides for the Idlowting Imitations:
A. The desl{yrated area has been tintrted to a period of time not to exccod } 0 calendar years . (son Wow). The dale this desgnahnn
expires is 12 at
B. The type of deduction that is allowed in the designated area is limited tp
1. Redevelopment or rehabiltalion of rear estate improvements Yea ❑ NO
2. Residentially distressed a1eaa ❑ Yea ❑No
3.0ccv of a vacant bulking ❑Yee NO
C. The amount of the deduction applicable is llmiled to S 6 4, Co n.
O. Other limitabons or mrxMliens (specify) _
E. The deduction Is allowed for t b years• (sec below).
We have also reviewed the idomslion contained in the statement Of benefits and End Ihsl the estimates and expectations ere reasonable and have
determined that the totality of benefits is suficienl to Justify the doducdon described above.
• { �
Apprarod (sgnerum eni AWe o euthodaed member d designee/1p body) Werner* number Oath eland fmoroa, day War)
AtiBgEO (sipsou want fleJe el Onion /t, Oadv �p�'f'p�, e p d
U1-4414- w ef �r1n nist ,j.LC. berm Reno ' C,L,�
• If the design Ong body limits the lime period during which an area Is an economic revitalization area. It doss not limit the length of time a taxpayer Is
entitled to receive a deduction too number of years designated under IC 6 -1.12- 12.14.
A. For residentially distressed areas, the deduction period may not exceed five (5) years.
B. For redevelopment and rehabilitation or real estate improvements:
1. If the Economic ReviteazadonArea wee desgnated prior to July 1.2000. the deduction period is limited to throe 13), six (6), or ten (10) years.
2. If the Economic RsvifafaationAea was designated after June 20, 2000, the deduction period may not exceed ten (10) years.
C. For vacant buildings. the deduction period may not exceed two (2) years.
Page 2 oft
Property Tax Estimate for Flexible Materials
Clark County, JEFFERSONVILLE CITY -IFW, Tax District No: 10010
Tax Rate (2010): $2.7298
REAL PROPERTY
Cost of Real Property: $225,900.00 i
' With Abatement Without Abatement
Circuit Net Circuit Net Estimated Tax
Property Breaker Tax Property Property Breaker Tax Property Abatement
Taxes Credit Taxes Taxes Credit Taxes Savings
Year 1 $0 $0 $0 56,167 $0 56,167 56,167
Year 2 $308 $0 5308 56,167 $0 $6,167 55,859
Year 3 51,233 $0 51,233 56,167 $0 $6,167 $4,934
Year 4 $2,158 $0 $2,158 56,167 $0 $6,167 54,009
Year 5 53,083 $0 $3,083 $6,167 $0 56,167 53,084
Year 6 53,700 50 53,700 $6,167 $0 56,167 $2,467
Year 7 $4,317 $0 54,317 $6,167 $0 56,167 51,850
Year 8 $4,933 $0 54,933 $6,167 50 56,167 51,234
Year 9 $5,550 $0 $5,550 $6,167 $0 56,167 $617
Year 10 $5,858 $0 55,858 56,167 $0 56,167 5309
Totals $31,141 $0 $31,140 $61,667 $0 561,670 $30,530
PERSONAL PROPERTY
Cost of Personal Property: 5350,000.00
With Abatement Without Abatement
Circuit Net Circuit Estimated Tax
Property 'Breaker Tax Property Property Breaker Tax Net Property ' batement
Taxes Credit Taxes Taxes Credit Taxes Savings
Year1 $0 $0 $0 $3,822 $0 $3,822 $3,822 _
Year 2 $1,070 50 51,070 55,350 $0 $5,350 54,280
Year3 51,605 $0 51,605 54,013 50 54,013 52,408
Year4 $1,834 $0 51,834 53,057 $0 $3,057 $1,223
Year5 52,293 $0 $2,293 $2,866 $0 $2,866 1 5573 _
Totals $6,803 $0 $6,803 519,108 $0 $19,109 $12,306
•
6., "? STATEMENT OF BENEFITS
PERSONAL PROPERTY FORM SB -1 lPP
` i Stele Form 6t764 (R/1.06)
ii
Z Prescribed by the Deportment of Local Government Finance PRIVACY NOTICE
- e and &y a+ttne'ndvdudY
sTb slsry eost d pn W ;te i iz opnfgditial :lp
bwane9 ofaw thiny cpubee record
INSTRUCTIONS: arICEN.l•1215.1 o and d).
1. This statement must be submitted to the body designating the Economic Rewtlizabon Area poor 10 the public heanng 5 the designating body repays
IMamafior from the appMCent in making Ns decision about whether to designate an Economic RewIsNzaacn Ar0a. Otherwise this statement must be submitted
m the designating body BEFORE a person instlle dre newmarudacyming equipment o anddoiolo
equipment end Mlormvtbn technology equipment for which the person wishes m cfabn 0 deduction. •Projects'pl n C or committed l a 1,1987.
and areas designated a0crJmy 1, 1987. require a STATEMENT OF BENEFITS. (IC 6- 1.1.12.1)
2. Approval of me designating body (City Count, Town Board. County Council. eta) must be obbincd installation of the now msnuAaUUnng equipment research
be
tiorrerod and devebpnem equipment andb ipm dror
rlogistical disMbntiavequent animormation technology egmpment. BEFORE a derhm,5ev may
3. To obtain a deduction, a person must Re a centred deduction schedule with the person's persona) property return on 0 certified deduction acheol.•lo (Font
I03-ERA) with a tw ipassessor Me township whore the property Is situated. Thy f03-ERA must be hMed between March 1 and May 15 of Me
assessment )m bemanufacturing equipment and/or research and development equipment and/or logistical dlshbution equipment and/or
technology equipment is installed and Nliy functional, unless fling extension has been obtained. A person who °blahs a Ong extensor most
Me rho lam, between March 1 and the extended duo date of that year.
4. Property owners whose Statement of Benefits wss approved abet Juno 30. 1991, must submit Form CF-1 / PP annually to show compliance with the
&dement of Benefits. (1C 61.1.121-56)
5. The schedules established under IC 6-1.1-12.1-4.5(d) and (e) apply to equipment Instated alter March 1, 2001. For equipment installed prior 10 Meech 2,
2001, the schedules and statutes in effect at the time slsN continue to apply. (10 6- 1.1- 12.14.5(0 and (g))
SECTION 1 TAXPAYER INFORMATION
Rune dlaxpayer
FEXI'3sLE MATSRI/'.L$ (AM es Cc — TrIbce, TA El Sifersf60L, r
Assess LapaYW Awmterer. Sheet my Nan, end2JP COM
_ I a a 'Fa21- .
Name of ccrmet mean — - - - -- -
C+'+R +� ww — mepMne number
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT
Name of designees; body
ReaWtlon barber (s)
Lemke ofpmWr/ - -_ - ICounty DLGF taxi dnlnd number
51 f4AMMt(R4 �f E r . MLLE N cril C.uec. re .
Description of manufacturing equipment and/or research and development equipment
and/or logistical Balritution equipment andkn information technology equipment ESTIMATED
(ate tnafalr00fs tnece$$ay) __ START DATE COMPLETION DATE
essz cf - Mho f�- fit4 111TC o*1E - Tb VStIATN Menufaduring Equipment 4 j
CONTrarTrA/E . F& nP -fca- IIJ&tLh93 )+MBr COCIEcna -- _ ! lit IL f Isi, sl i t
NW, ECJJIryR IitRlfte- mA R 8 D Equipment
I'`tb'�h'P L' Ia/SitutR'IR•I ?Its
ap ., kit S21n2P. t &zoottCAL, es ., sFlac R '�r.41.5=442. Lo Dist Equipment
)
T — 11E6i GW�77Eh - R k4 ttea MESSAGE Sraeiy, IT Equipment lo/11(J )Z ad/II
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT
Caned/ motor 9 - !Sateen n$ Num: t N eraln.J . 5slarins Number adetional FCy4 Salerbei EWSs.(A-
4 1 -1 1 r 9R6 .6 6 s a l T-T 6I2.
SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT
NOTE: Pursuant M IC 6-1.1-12.1-5.1 (0) (2) the MANUFACTURING R & 0 EQUIPMENT LOGIST DST ITE
EQUIPMENT _ EQUIPMENT EQUIPMENT
COST of the property is ocnOtlOntial. COST A QED COST ASSESSED Can ASSES COST ` ASS
Current values - a1L1lE
_ Plus estimated values of proposed poject
loss values of any property being replaced —
—
Net estimated values upon canpoetion of project
SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED SY 1 TAXPAYER
Estimated solid waste °smarted (pounds) _,. _ i CS' Iv adrdoua waste cOnverlod (potnd$) •
Osier knells!
SECTION C TAXPAYER CERTIFICATION
I horeoy cetli matte rop euentelion5 in ens se lemon are (wa
slluWre 2 ' l = .a CHRIS wit ode signed ouanm, day year)
1 V I NEfl* I i °2411
•
FOR USE OF THE DESIGNATING BODY
No have reviewed our pdor actions relating to the designation of this eooncrnicrevllalizalion area and find that the applicant meets tho general stn lards
adopted in the resolution previously approved by this body. Said reseamm. passed under IC 6- 1.1- 12.1 -2.5, provides For the following limitations as
outhodzed under IC 6-1.1- 12.1 -2.
A . The desti awed area gas been Iinlled too period or time not to exceed tiati O calendar years • (see below). The date This designation expires
Is IX 31- I'L
B . The typo of deduction Ihot is allowed In the designated area is limited lo:
1. Installation of new manufacturing egtipment. Yea 0 o
2. Installation of new research and development equipment; ❑Yes o
3. Installation of new logistical distdbudon equipment. , ❑r�,.Y /�e s N o
4. Installation of new information technolo.3y equipment: LlaYe s ❑N o
C. The amount 0f deduction applicable to now manufacturing equipment is limited to S 217 6 Sr. cost with an assessed value of
s_ 9,31/5 .
0. The amount of deduction applicable lo new research and development equipment is limited to S cost
with an assessed value of $ _ _ — "' - - --
E . The amount of deduction applicable to new logistical disbibution equipment rs limited to S cost with an assessed value or
5
F. The amount of deduction applicable to new information technology oqupment is limited to $ lol an 0 cost with on assessed glue of
S p `3 )0 J .
G. Other limitations or conditions (speciNJ_
H. The deduction for new manufacturing equpmenl andoor new research and devdopmom equipment andoor new logistical distribution equipment and/or
new dormation technology equipment installed and first claimed digtio for deduction on or after July 1.2000, Is allowed for.
❑ 1 year 06 years For ERAS ostabh:ed prior to July 1, 2000, QDly a
02 years 07 years 5 or 10 year schedule may bo deducted.
03 years 06 years
❑S Years ❑o years
5 years •• 010 years '•
Also wo have reviewed the iriormaticn contained in the statement of benefits and find that the estimates and expectations are reasonable and have
determined that the t0tality et benefits is sufficient to Justify the deduction desr bed above.
Approved: (slerduvondt% da ilbones mambo, telephone nwnbar Dsts sidled (month, day year)
ri
� M• r.
• 11 the designating body limits do tine period during which an area is an economic revile/cation area, it does not limit the length of lime a taxpayer is
entitled to receive a deduction to a non of years designated under IC 6-1.1.12.1 -4.5