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HomeMy WebLinkAbout1994-R-15RESOLUTION NO. RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PURPOSES OF PROPERTY TAX ABATEMENT WHEREAS, State of Indiana by and through the Indiana Port Commission, has petitioned the City Council of the City of Jeffersonville, Indiana, for a deduction in real estate property taxes to be assessed on the real estate and improvement at the Clark Maritime Centre located in the City of Jeffersonville, Clark County, Indiana; and WHEREAS, State of Indiana by and through the Indiana Port Commission, 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, and an estimate of the annual salaries of these individuals; 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 the Indiana Code 6-1.1-12.1 et seq., and Resolution 89-R-32; 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: 1. That the estimate of the value of the proposed facility is reasonable for projects of the nature described in the Statement of Benefits submitted by the taxpayer. 2. That the estimate of the number of individuals who will be employed or whose employment will be retained can reasonably be expected to result from the proposed described new facility. 3. 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. 4. That all other information requested from State of Indiana by and through the Indiana Port Commission, 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 State of Indiana by and through the Indiana Port Commission, and that said taxpayer shall be entitled to deductions for a period of ten (10) years for the real estate and improvements 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. 1994, by the City Council of the City of Jeffersonville, Clark County, Indiana. City Council of the City of Jeffersonville, Indiana ATTEST: Clerk-Treasurer of the city of Jeffersonville, Indiana Raymdhd J. l~arker Jr. ! % Mayor of the City of Jeffersonville, IN STATEMENT OF BENEFITS FORM State Fon~ 27167 (R3/11-91) SB - 1 Form SB - 1 is pres~ibed by the State Board of Tax Commissioners. 1989 The records in this series am CONFIDENTIAL according to lC ~-1 INSTRUCTIONS: 1. This statement must be submitted to the body designating the economic rewtilization area pdar to the public hearing if the designating body requires infor- mation from the applicant in making its decision about whether to designate an Economic Revitilization Area. Otherwise this statement must be submi~tec to the designating bedy BEFORE a person installs the new manufacturing equipment, or BEFORE the redevelopment or rehabilitation of real properly fo~ w._hjch the person wishes to claim a deduction. A statement of benefits is not required if the area was designated an ERA prior to July 1, 1987 and the project" was planned and committed to by the applicant, and approved by the designating body, prior to that date. "Projects" planned or committed to after July 1, 1987 and areas designated after July I, 1987 require a STATEMENT OF BENEFITS. (lC 6-I. 1-12.1) 2. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to initiation of the redevelopment or rehabilitation. or prior to installation of the new manufacturing equipment, BEFORE a deduction may be approved. 3. To obtain a deduction, Form 322 ERA, Real Estate Improvements and/or Form 322 ERA / PP, New Machine~, must be filed with the county auditor. Wfth respect to real prope~ly,, Form 322 ERA must be filed by the later of: (1) May l O; or (2) thir~y (30) days after a nob'ce of increase in real properiy assessmen; is received from th~ township assessor. Form 322 ERA / PP must be flied between March 1 and May 15 of the assessment year in which new manufac* turing equipment is installed, unless a filing extension has been obtained. A person who obtains a filing extension must file the form between March 1 ano June 14 of that year. 4. Property owners whose Statement of Benefits was approved after July 1, 1991 must submit Form CF- I annually to show compliance with the Statement ot Benefits. (IC6-I.1-12.1.5.6) Name of taxpayer State of Indiana - Indiana Port Commission Address of taxpayer (street and number, city, state and ZIP cede) 150 W. Market St., Ste. 603 Indianapolis, IN 46204 Name of contact person Telephone number Chris Kinnett (812) 283-9662 Name of designating body Resolution number Common Council Location of property Clark Maritime Centre - County raxingdistrict Jeffersonville, Indiana 47130 CLARK Jeffersonville City Description of real proper~y improvements and / 9r new ~a, nufactufing eg.uipment to be at, quid;ed (v~e ~d. ditional Estimated staring date sheemifneceasaq/)~pproximately -33, U00 sq. soot meta£ DUl,~lng with concrete flooring. Equipped with 30 ton overhead crane 04-01-94 and covered bridge alIowing travel thru building to river Estimated compleflon date and nine truck and rail loading doors. Approximately. 2,000 sq. ft. will be used as office space. S~e Exhibit "A". 07-31-94 555,900 Cost Assessed Value Cost Assessed Value Current values - 0 - - 0 - Plus estimated values of proposed project 3 t 2 0 0,0 0 0 2 0,0 0 0 Less values of any property being replaced - 0 - - 0 - Net estimated values upon completion of project ' ! 3 1 2 0 0 t 0 0 0 2 0,0 0 0 It is forecasted that an increase of two percent (2%) to three percent (3%) annually in tonnage handled will be obtained. Should this be the case, additional capital investment and employees will be required. See Exhibit "A". Frank G. Martin, Jr. Ihem~ ce~i~th~thempmsentationsinthisstatement~etme. ~fleExec. Director Indiana Po~t Commission Dams~ned (month, day, ~ar) March 28, 1994 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 lC 6-1.1-12.1-2.5, provides for the following limitations as authorized under lC 6-1.1-12.1-2: calander A) The designated area has been limited to a period of time not to exceed years. *(See Below) B) The type of deduction that is allowed in the designated area is limited to: 1) Redevelopment or rehabilitation of real estate improvements. [] Yes [] No 2) Installation of new manufacturing equipment [] Yes [] No 3) Residentially distressed areas [] No C) The amount of deduction applicable for new manufacturing equipment installed and first claimed eligible for deduction after July 1, 1987, is limited to $ cost with an assessed value of $ D) The amount of deduction applicable to redevelopment or rehabilitation in an area designated after September 1, 1988 is limited to $ cost with an assessed value of $ E) Other limitations or conditions: (specify) 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. If the designating body limits the time period during which an area is an economfc revitilization area. it does not limit the length of time a taxpayer is entitled to receive a deduction to a number of years designated under I.C. 6-1.1-12.1-4 or 4.5 Namely: NEW MANUFACTURING EQUIPMENT Year of Deduction Percentage 1st 2nd 3rd 4th 5th 6th and thereafter 100% 95% 80% 65% 50% 0% Year of Deduction 1st 2nd 3rd 4th 5th 6th 7th 8th 9th loth Fo~' Oedu~n$ A Three (3) Year Percentage 100% 66% 33% owed Over A Per od OE . · · Six (6) Year Percentage 100% 85% 66% 50% 34% 17% Ten (10) Year Percentage 100% 95% 80% 65% 50% 40% 30% 20% 10% 5% EXHIBIT ADDENDUM TO STATEMENT OF BENEFITS FOR STATE OF INDIANA BY AND THROUGH THE INDIANA PORT COMMISSION M~RCH 28, 1994 The State of Indiana by and through the Indiana Port Commission has entered into an agreement with American Commercial Marine Service Company to construct and lease to American Commercial certain real estate and building at the Clark Maritime Centre. The State of Indiana by its Indiana Port Commission hereby request a ten year tax abatement for the real estate and improvements. The planned facility will be located at the Clark Maritime Centre in Jeffersonville, Indiana. The planned facility will be a metal building with concrete floors and approximately 133,000 square feet of space. The facility will have nine truck and rail loading doors and will house a 30 ton crane with a covered bridge to allow travel through the building and to the river. Approximately 2,000 square feet of the building will be used as office space. The business operations of this facility will consist of storing bulk cargos that are transported into and out of the facility by barges, trucks or train. The business is currently operating in Louisville, Kentucky. Initially, most of the equipment being used in the Louisville operation will be moved to this facility. New equipment will be purchased for the administrative office that will be part of this facility. The initial workforce will consist of fifteen individuals who are currently employed in the Louisville operation. The achievement of planned expansion goals will allow the employment number to increase. It is forecasted that an increase of two percent (2%) to three percent (3%) annually in tonnage handled will be obtained. Should this be the case, additional capital investment and employees will be required. American commercial feels that relocating this facility from Kentucky to the Port' Facility in Jeffersonville will offer greater potential for expansion and economic growth. The planned facility will be constructed on land that is owned by the State of Indiana and provides no tax base to Clark County. Our proposed facility will not only add to the Clark County Tax Base, it will bring new revenues to the State. This is an established business with an established customer base. DESCRIPTION OF A~RICAN COMMERCIAL MARINE SERVICES COMPANY LEASE TRACT A part of Survey 7 of the Illinois Grant in Utica Township of Clark County, Indiana, part of the same tract of land conveyed to the State of Indiana at Deed Drawer 6, Instrument 3144 and at Deed Drawer 14, Instrument 7253 and bounded as follows: Commencing at a brass-capped stone monument in the southeast line of Survey 14 which marks the west comer of Survey 7, thence the following courses: South 35 deg. 22 min. 48 sec. East, 3951.95 feet with the line between Surveys 6 and 7 to a point designated at Station 32 +61.83, Port Baseline "C"; North 36 deg; 30 min. 47 sec. East, 1413.80 feet with Port Baseline "C' to a point designated C, as Station 46+75.63, Port Baseline" "' North 53 deg. 29 min. 13 sec. West, 128.27 feet to an iron pin which marks the True Place of Beginning of this tract. Thence the following courses of the boundary: North 36 deg. 30 min. 47 sec. East, 549.63 feet to an iron pin; South 53 deg. 29 min. 13 sec. East, 396.27 feet to an iron pin; South 36 deg. 30 min. 47 sec. West, 549.63 feet to an iron pin; North 53 deg. 29 min. 13 sec. West, 396.27 feet to the place of beginning and containing 5.00 acres of land, more or less. Subject to a 25 foot wide roadway easement described as follows: Beginning at an iron pin which marks the south corner of the above-described 5.00 acre tract, thence the following courses of the boundary: North 53 deg. 29 min. 13 sec. West, 283.77 feet; thence with a curve to the right having a radius of 112.50 feet and the long chord of which bears North 8 deg. 29 min. 13 sec. West, 159.10 feet; North 36 deg. 30 min. 47 sec. East, 324.63 feet; thence with a curve to the right having a radius of 112.50 feet and the long chord of which bears North 81 deg. 30 min. 47 sec. East, 159.10 feet; South 53 deg. 29 min. 13 sec. East, 283.77 feet to the east comer of the above-described 5.00 acre tract; South 36 deg. 30 min. 47 sec. West, 25.00 feet; North 53 deg. 29 min. 13 sec. West, 283.77 feet; thence with a curve to the left having a radius of 87.50 feet and the long chord of which bears South 81 deg. 30 min. 47 sec. West, 123.74 feet; South 36 deg. 30 min. 47 sec. West, 324.63 feet; thence with a curve to the left having a radius of 87.50 feet and the long chord of which bears South 8 deg. 29 min. 13 sec. East, 123.74 feet; South 53 deg. 29 min. 13 sec. East, 283.77 feet; South 36 deg. 30 min. 47 sec. West, 25.00 feet to the True Place of Beginning and containing 0.693 acres of land, more or less. Also, a craneway easement described as follows: Commencing at the east comer of the above-described 5.00 acre tract, thence the following courses: South 36 deg. 30 min. 47 sec. West, 57.76 feet with the southeast line of said 5.00 acre tract to the True Place of Beginning of this easement. Thence the following courses of the boundary: South 53 deg. 29 min. t3 sec. East, 185.00 feet; South 36 deg. 30 min. 47 sec. West, 80.00 feet; North 53 deg. 29 min. 13 sec. West, 185.00 feet to the southeast line of said 5.00 acre tract; North 36 deg. 30 min. 47 sec. East, 80.00 feet to the True Place of Beginning and containing 0.340 acres of land, more or less.