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HomeMy WebLinkAbout2014-R-4BEFORE THE COMMON COUNCIL FOR THE CITY OF JEFFERSONVILLE, INDINAA RESOLUTION NO. 2014-R- 41 RESOLUTION APPROVING STATEMENT OF BENEFIT FOR PROPOSED REAL PROPERTY AND PERSONAL PROPERTY TAX ABATEMENT WHEREAS, Amatrol, Inc. 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 redevelopment of property, including the construction and buildings and related improvements, to be generally located at 2400 Centennial Blvd located in the City of Jeffersonville, Clark County, Indiana; and WHEREAS, Amatrol, Inc., has submitted a Statement of Benefits on the form prescribed by the Indiana State Board of Tax Commissioners for real property and personal property, which statements 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 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.; and WHEREAS, the Redevelopment Commission of the City of Jeffersonville has made a favorable recommendation for approval of the Statement of Benefits; and 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 find as follows: 1. That the estimate value of the qualifying real estate improvement of $2,200,000.00 is reasonable for projects of the nature described in the Statement of Benefits submitted by the company. 2. That the estimate value of the qualifying personal property improvement of $1,310,000.00 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 142 individuals who will be retained can reasonably be expected to result from the proposed described redevelopment or rehabilitation. 4. That the estimate of the annual salaries of 30 of those individuals who will be added can be reasonably expected to result from the proposed described redevelopment or rehabilitation. 5. That the taxes lessened from the granting of this abatement shall be for improvements in real estate up to the value of $2,200,000.00. 6. That the taxes lessened from the granting of this abatement shall be for improvements in personal property up to the value of $1,310,000.00. 7. That all other information requested from Amatrol, Inc. 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 Amatrol, 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 I.C. 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 Amatrol, Inc., and that said company shall be entitled to deduction for a period of TEN (10) years for improvements to real property and FIVE (5) years for personal property pursuant to provisions of I.C. 6- 1.1-12.1-3(d), with the timely filing and perfection thereof with the Clark County Auditor's office. This Resolution shall be in full force and effect from and after its passage and approval. Passed this c3 day of 1YLax-\ , 2014. VOTED FOR: VOTED AGAINST: Passed and adopted by the Common Council of the City of Jeffersonville, Clark County, Indiana on this 3 day °Mahal, , 2014. Dennis Juliu y ouncil President ATTEST: Vicki Conlin, Clerk Presepttl by me as Clerk to the Mayor of said City of Jeffersonville this , 2014. 7 Vicki Conlin, Clerk This Resolution approved and signed by me this LA 2014. day of This Resolution vetoed by me this day of Mike oore, Mayor , 2014. Mike Moore, Mayor