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Home My WebLink About1990-R-20 RESOLUTION NO. 90-R-~ RESOLUTION COMMEMORATING PRIOR APPROVAL OF STATEMENT OF BENEFITS WHEREAS, the Common Council has previously approved the Statement of Benefits filed by Earl J. Reisert and Doris J. Reisert as evidenced by the minutes of the Common Council meeting of October 3, 1988, a copy of which is attached hereto; and, WHEREAS, the Common Council has made the necessary findings under Indiana code 6-1.1-12.1-4.5 in approving this Statement of Benefits at the prior meeting; and, It has now been determined that it is the better practice to approve said Statement of Benefits by numbered resolution of the common Council in order to fully memorialize the Council's intent and approval· NOW, THEREFORE, BE IT RESOLVED by the common Council of the city of jeffersonville that it hereby affirms its intent in granting the .Statemen~ of Benefits attached hereto filed by · Sun~ioe ~o~crtioc, Inc~ In approving this Statement of Benefits the Common Council of the City of jeffersonville specifically finds that as of the date it was originally approved as follows: That the estimate rehabilitation is described in the of the value of the redevelopment and reasonable for projects of the nature Statement of Benefits submitted by the developer. That the estimate of the number of employed or whose employment will be reasonably be expected to result from described redevelopment or rehabilitation. That the estimate of the annual salaries individuals who will be retained can the proposed of those individuals who will be employed or whose employment will be retained can be reasonable expected to result from the proposed described redevelopment or rehabilitation. That all other information requested by the developer has been submitted, and the benefits described in 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 herein and that said developer shall be entitled to deductions for a period of ten (5) filing (10) years for improvements to real property and for five years for new manufacturing equipment commencing with the and perfection thereof with the Clark County Auditor's office. Passed and adopted this 1990, by the Common Council of the City of jeffersonville, Clark County, Indiana- SIDENT, COMMON cOUNCIL ATTEST: Presented by me as City of jeffersonville, Approved and signed Clerk-Treasurer to the Mayor of the Indiana, this ~ day of by me this ~ day of Page 2 October 3, 19 third and final reading. At the conclusion'of Mr. Filer's/presentation, and general discussion among the members of the Council, Councilman Waiz made a motion to pass Ordinance No. 88-ORr40 on the third and final read- ing, seconded by Councilman Grooms and passed unanimously. City Attorney C. Gregory Fifer addressed the Council regarding the approval of Statements· of Benefit~previously submitted by Ashley:Lithe- graphing, ACL, the for a motion by the CounciLthat Council to app~0ve said Statement of Benefits on Lines. Councilman Shrewsberry then made on behalf of Reisert passed unanimously. S & R Truck Tire and Reisert Refrig.eration, ~p.d reviewed documents supplied by the aforementioned companies. He'~ then asked President Perkins be authorized behalf of American Commercial a motiqn that Council'President Perkins be authorized 'to' .approve'the statement., of Benefits of kmerican Commercial Lines, seconded by Councilman Williams and p~ssed unanimously. City Attorney C. Gregory Fifer then presented the Statement o~ Benefits of S & R Truck Tire and addressed the Council concerning the approval thereof. C6uncilman Grooms' then made a motion that Council President Perkins be authorized to ~app~qve. the Statement of Benefits o.n behalf of S & R Truck Tire, seconded by Councitman'Waiz and passe~ '~':: unanimous ly. City Attorney C. Gregory Fifer then presented the Statement of Benefits of Reisert .Refrigeration Company and addressed the Council concerning approval thereof. Councilman Hatred. then made a motion that Council President Perkins be authorized to, approve the Statement' of BeneJ Refrigeration, sec0nded bY Councilman Williams and City Attorney C. Gregory Ftfer then presented the Statement of Benefits of Ashley Lithographing and addressed the Council .concerning approval thereof. ~ouncilman Shrewsberry then made'a~motion that Counci President Perkins be authorized to approve the Statement of Benefits on behalf of Ashley Lithogr?phing, .seconded'by'Councilman Waiz and passed unanimously. Mayor Orem introduced Mickey Rose, Merchants Association, who addressed the of trees in dowmto%rn Jeffersonville. President'of the Downtown Council concerning the planting Council ~resident Perkins advised b STATEMENT OF BENEFITS STATE BOARD OF TAX COMMISSIONERS state Form 27167 (7.87) Form SB-I is prescribed by the State Board of Tax commie?loners 1987) Confidential Statement: The records in this series are CONFIDENTIAL according to Indl~,; C0de 6'1.i-3~9. INSTRUCTIONS: (LC. 6-1.1.12.1) THIS PAGE TO BE COMPLETED BY ApP,!CANT 1. This statement must be submitted to the body designating the economic revltlllzatlon area BEFORE a person acquires new manufacturing equipment or begins the redevelopment or rehabilitation of real property for which the person wishes to claim a deduction. Effective July 1, 1~87. 3. Approval of the designating body (City Council. Town Board, County Council, etcJ must be obtained before a deduction may be the county auditor. With respect to real property, Form 322 ERA must be filed by the later of (1) May 10 or (2) thirty(30) days after a been obtained. A person who obtains a filing extention must file the form between March I and June 14 o~ th~ year. . Name of Designating Body County Common Council, City of Jeffersonville I C!ar~ Name of Taxpayer Earl J. Reisert and Doris J. Reisert Address of Taxpayer (Street, city, county) ZIP Code 47119 RR ~5, Box 10, Floyds Knobs, Indiana .ocation of property if different from abOve Taxing Dtstrict Lot No. 6 S & R Park 1404 TruckeTM Boulevard I Jeffersonville Cost and description of real property improvements and I or new manufacturing equip~en; to ~ acquired; Real property improvements consisting of a new 9,300 square foot office and shop to be leased to Reisert Refrigeration, Inc. Estimate Completion Date Estimated Start~ng Date ! 198~ December l0t 1988 (A'tt-ch additional sheets If needed) september 10 Current Numbe~ 'Salaries " Salaries Number Additional Salaries $1 7 0 Numb; Retained SECTION III ESTIMATE TOTAL COST AND VALUE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS MACHINERY COST ASSESSED VALUE COST ASSESSED VALUE Current Values' \ -0- -0- Plus estimated va~es of proposed project 220~000. 55.000. Less: Values of on,property being replaced -0- -0- Net estimated value,upon completion of project 2_2~? [..000 .~ 55,000 .. ~ : I hereby certify that the representations on this statement are true. Title Owner Tax Rates Determined Using The Following AssumptiOns 1. Curre~f'total tax rate, · 2, Approximate tax rate if project occurs and no deduction is granted. 3. Approximate tax rate if project occurs and a deduction is assumed. ~tal ~x Rates 5.3400 5.3363 $ 5.3382 Assume an 8~/o deduction on new machinery Installed and / or a 50% deduction assumed on real estate Improyements. We have reviewed our prior actions relating to the designation of this economic revit aJization area and find that the applicant meets the general stan* dards adopted in the resolution previously approved by this body. Said resoJution, passed under lC 6-1.1-12.1.2.5, provides for the following limita- tlons as authorized under lC 6-1.1-12.1.2: A) The designated area has been limited to a period of time not to exceed 'J 0 year s calender years. *(See Below) B) The type of deduction that ts 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 ) No limitations on type of deduction (check If no limitatlona) '-- ~' No C) The amount of deduction applicable for new manufacturing 6quipment Installed and first claimed eligible for deduction after July 1, 1987, is limited to $ .,, cost with an $ assessed value. Aisc we have reviewed the information contained in the statement of benefits including the impact on the tax rate incorporated herein, and have t~oetne, rmined that the benefits described above can be reasonably expected to rssult from the project and are sufficient tO justify the applicable deduc- ppr lDate of Signature I sted ' President ~ted · ~ - 0 '._- - - - Des~g.atedso~Pyresident ~/ r~ Treasurer Co on un i ' 1st 2nd 3rd 4th 5th 6th and thereafter Percentage 100% 1st 95% 2nd 80% 3rd 65% 4th 50% 5th 0% 6th 7th 8th 9th 10th 100% 66% 33% 100% 85% 66% 50% 34% 17% 100% 95% 80% 65% 50% 40% 30% 20% 10% 5%