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Home My WebLink About1992-R-13 RESOLUTION NO. 92-R- i~ RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PURPOSES OF PROPERTY TAX ABATEMENT WHEREAS, the Apollo America Corporation has heretofore petitioned the Common Council of the City of jeffersonville, Indiana, for a deduction in real property and personal property taxes to be assessed on proposed improvements to be made and equipment in the Clark Maritime Centre, located in the city of jeffersonville, Clark County, Indiana; and WHEREAS, the Apollo America Corporation has submited an Supplemental 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 redevelopment, 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 et seq., and Resolution 89-R-32 and Confirming Resolution 89-R-39; and WHEREAS, the Common 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 Common Council of the city of jeffersonville that it specifically and affirmatively finds as follows: 1. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of the nature described in the Statement of Benefits submitted by the developer. 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 redevelopment or rehabilitation. 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 redevelopment or rehabilitation. 4. That all other information requested from Apollo America Corporatlo has been submitted, and the benefits described such information can be reasonably expected to result from the proposed described redevelopment or rehabilitation. 5. That the totality of benefits for said redevelopment or rehabilitation is sufficient to justify the deduction. BE IT FURTHER RESOLVED that the Common Council of the city of jeffersonville hereby approves the application for deduction presented by the Statement of Benefits filed by the Apollo America Corporation and that said developer shall be entitled to deductions for a period of ten (10) years for improvements to real property, pursuant to the provisions of I.C. 6-1.1-12-3(d) and I.C. 6-1.1-12.1-4(d) (3) , to I.C. 6-1.1-12.1-4.5, with the timely filing and thereof with the Clark county Auditor's office. Passed and adopted this _ ~ day of __~ by the Common Council of the city of jeffersonville, and ten (10) years for equipment pursuant perfection , 1992, Clark CoUnty, Indiana. Attest: ~j~ C. Richard Sp ~ Clerk-Treasure~ ~re~ldent, common co cil Presented by me as Clerk-Treasurer to the Mayor of the city of jeffersonville, Indiana, this ~ day of f~ , 1992. C. Richard Spencer', Jr. g/ Clerk-Treasurer ~ Approved and signed by me this 1992. ~.* .. o~, STATE BOARD OF TAX COMMISSIONE! · :~. i ; t~.I STATEMENT OF BENEFITS ~ Fbi'm S'~;'~ ~ ~sori~d by the State Boar0 of T~ Commisslone~ (1~9) ~onfidential Statement: ~e records in this series are CONFIDENT;AL~ acco~lng to Indiana Code ~1.1-35-9. INSTRUCTIONS: #.C. 6-1.1-12.1) THIS PAGE TO BE COMPLETED BY ~PPLICANT This statement must be submitted to the body designating the economic mvitgization area prior to the puDlic hearing reouimd to ~es;gnate an economic revitalization area. or BEFORE a perso~ installs the new manufacturing e~ui;ment, or BEFORE the redevelopment or rehabilitation of real ;ro~erty for which the ~ers~n wishes to claim a deduction. A statement of benefits is not reouire~ if the area was ~esignated an ERA prior to July I, 1987 ang the "project" was planneE an~ committed to by the applicant, and a~prove~ 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. ~ 2. If a person is requesting t~e designation of an economic revitalization area, thi~ form must be submitted prior to the puDlic hear* lng required under lC 0.1.1.12.1.2.5 (c). Othe~ se, the Statement 'of Benefits must be submitte~ for the designating body's a;. ;roval prior to the installation of the new manufacturing equipment or prior to redevelopment or rehabilitation of real pro;e~y. 3. Approval of the designating body (City Council, Town Board, Cdunty Council, etc.) must ~e obtained prior to initiation of the redevelopment or reha~ilitat on, ~r prior to installation of the new manufacturing e~u~pment, BEFORE a deduction may be approv. TO ootaln a ~eouctl~n Form 322 ~RA. Real Estate lmprove~ents ~nd / or Form 322 ERA / PP, New Mac~ine~, must De filed with t~e county auditor. With respect to real pro;e~y, Form 322 ERA ~ust be filed by the later of (1) May 10 or (2) thi~y(30) days after a notice of increase in real proDe~y assessment is receive~ from the township assessor. Form 322 ERA / PP must be file~ between March I and May 15 of tbe assessment year in w~ic~ new manufacturing equipment ~s instalied, unless a filing extention has Peen oDtained. A person w~o oDtains a filing extention must file~ the form Oetween March I an~ June 14 of that year. County Name of Designating BO~y ~ ~k Cog[non Council of City of jeffersonville, Indiana Name of Taxpayer Apollo America Corporation IZIPCooe Address of Taxpayer (Street. city, county) 47130 701 Port Road, Clark Maritime Centre, Jeffersonville, Clark County, Indiana SECTION I LOCATION, COST AND DESCRIPTION OF PROPOSED PROJECT Oil blending plant located on approximately 30 acres with proposed costs as follows: Real Estate -- $450,000 Buildings -- $2,050,000 F_quipment and Machinery -- $15,606,677 (Attach additi0na[ sheets if needed) i November, 1991 December, 1992 SECTION Il ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT ~ Current1 ~)umber i Satar~esi 410,000 i NumPer Rera,ned[ 23 [Salaries570,000 [ NumPer A0ditional.~0 S~[(~r(¢~%00 SECTION ill ESTIMATE TOTAL COST AND VALUE OF PROPOSED PROJECT I REAL ESTATE IMPROVEMENTS[ MACHINERY [ COST I ASSESSED VALUE COST ASSESSED VAL Current Values --- [ --- Plus estimated values of proposed project 2,500,000 Less: Values of any property being replaced --- Net estimated values upon completion of project 2,500,000 15,bOb,677 SECTION IV OTHER INFORMATION REQUIRED BY THE DESIGNATING BODY S gn~i A~ve Date Cena,~ /92 TiHe Vice President, Finance FOR USE OF DESIGNATING BODY We have reviewed our prior actions rebating to the designation of this economic revitalization area and tin..~,at 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 tot the following limitations as authorized under lC 6-1.1-12.1-2: A) The designated area has been limited to a period of time not to exceed1 0calender years. *(See Below) S) The type of deduction that is allowed in the designated area is limited to: [] Yes [] No 1) Redevelopment or rehabilitation of real estate improvements. T~ Yes [] No 2) installation of new manufacturing equipment T~ No 3) Residentially distressed areas 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 redevetopment or rehabilitation in an area designated after September 1, 1988 is limited to $ cost with an assessed vatue of $ . E) Other limitations or conditions: (specify) ~_.~el~sO w~ have r~,,iewed the information contained i~e?.ta~eme~n;.?f b,e,n~e~i,,t~s~;~a,,n~d findde~hucattiot~ne~ee~t~et~Sa~onvde~Xpectati°ns are onable and He deter, mined that the totality o..~.-oener~ts~,~su],l~,em ,v ~,~,,-~ .he ting body limits the time period during which an area is an economic revitilization area, it does no{ limit [3te iength 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 1st 2nd 3rd 4th 5th 6th and thereafter Percentage 100% 95% 80% 65% 50% 0% REDEVELOPMENT OR REHABILITATION OF REAL PROPERTY IMPROVEMENT For Deductions Allowed Over A Period Of: Year of Deduction ls1 2nd 3rd 4th 5th 6th 7th 8th 9th 10th Three {3)Year Percentage 100% 66% 33% Six (6)Year Percentage 100% 85% 66% 50% 34% 17% Ten (10) Year Percentage 100% 95% 80% 65% 50% 40% 30% 20% 10% 5%