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Home My WebLink About1990-R-22RESOLUTION NO. 90-R-~-~ RESOLUTION COMMEMORATING PRIOR APPROVAL OF STATEMENT OF BENEFITS WHEREAS, Statement of Ralston as evidenced by meeting of October 3, 1988, ~and, WHEREAS, findings under the Common Council has previously approved the Benefits filed by Tom W. Sand~ and Fred M. the minutes of the Common Council a copy of which is attached hereto; the Common Council has made the necessary 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, Statement of ~enefits attached hereto filed by -~unr±sc ~rc~crtics, Inc~. In approving this Statement of Benefits the Common Council of the City of Jeffersonville specifically finds t.hat as of the date it was originally approved as follows: That the estimate rehabilitation is described in the developer. of the value of the redevelopment and reasonable for projects of the nature Statement of Benefits submitted by the 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° That the estimate of the annual salaries 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 (10) years for improvements to real property and for five (5) years filing and office. Passed for new manufacturing equipment commencing with the perfection thereof with the Clark County Auditor's ~990, by the Common Clark County, Indiana. and adopted this ~ day of~.///./~' Council of the City of Jeffersonville, ATTEST: Presented by me as City of Jeffersonville, ,~. ~/// , '1990. Approved and signed Clerk-Treasurer to the Mayor of the Indiana, this ~ day of by me this ~ day of MAYOR DALE L. Page 2 October 3, 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-ORrd0 on the third and final read ing, seconded by Councilman Grooms and passed unanimously. City Attorney C. Gregory Fifer addressed the Council regarding th approval of Statements. of Benefit.preViously submitted by AshleYLitho- graphing, ACL, S & R Truck Tire and Reisert Refrigeration, and reviewed the documents supplied by the aforementioned companies. He"then asked for a motion by the Counc£Lthat Council President Perkins be authorized to approve.~ said Statement.~ of Benefits on behalf'of American Commercial Lines. Councilman Shrewsberry then made a motiqn that Council'President Perkins be aUthorized"t~approve.the statement, of Benefit~ of.k meritsn' ' Com~ercial~ Lines, seconded by Councilman Williams and p~ssed unanimously, City Attorney C. Gregory Fifer then presented the Statement of Benefits of S & R Truck Tira and addressed the Council concerning the approval thereof. C6uncilman Grooms' then'mad~ a motion that Council President Perkins be authorized to ~p~oye.the Statement of Benefits On behalf of S & R Truck Tire, seconded by Counci}man'Waiz and passe~ City Attorney C. Gregory Fifer then presented the Statement of Benefits of Reisert.Refrigeration Company and addressed the CounCil concerning approval thereof. Councilman Harro4 then made a motion that Council President Perkins be authorized to, approve the Statement of Benef on behalf of Reisert Refrigeration, sec0nded by Councilman Williams and passed unanimously. City Attorney C. Gregory Ftfer then presented the Statement of Benefits of Ashley Lithographing and addressed the Council,concerning approval thereof. Councilman Shrewsberry then made a.motion that Council President Perkins be authorized to approve the Statement of Benefits on behalf of Ashley Lithogr,aphing, .seconded'by Councilman Waiz and ~assed unanimously. Mayor Orem introduced Mickey Rose, President'of the Downtown Merchants Association, who addressed the Council concerning the planting of trees in downtown Jeffersonville. Council ~resident Perkins advised he STATE BOARD OF TAX COMMISSIONERS ~ _~.A~ STATEMENT OF BENEFITS ~- · , ., Sta'teFo~m~7167(7-87) ' "~'~ ~nfldentt~l statement: ~e records In t.(s series am coN~iDEN~ixL a~c°rdteg to ihdiahe mae ~1:1-3~9. INSTRUC~ONS: (I.C. ~.1.1ZI) THIS PAGE TO BE cOMPL~D BY APP~CANT · ..~- -' · 1. Th~s statement m~st be suDmitt~ t~ the ~dY designatmg t~e ~n~mic rev~t~iZat~n ~ BEF~RE a eers~n ~c~ui~s new Z ~fa~nis~uestingt~edesignati~n~f~nec~n~m~c~vita~t~a~a~thisf~rmmustbesu~m~ttedatthesamefimethe~ 3. Appmval of t~e desi~ating body (CI~ Council, Town Boa~, 4. To O~tain a deduction Form ~2 ERA. Real Estate Imp~vements and / or Form 3~ ERA'I P~. New Mac,inet. must De fil~ with the county auditor. With ~e~peEt ~o ~al notice of Increase in Mai prope~ as~ss~ i~Mce~ed fro~ the township assessor. FO~ 3~ ERA / PP must be fil~ betw~n n obtained. A e~on who obtains a filing extenfion Must file the fo~ between Ma~h I a~ June 14 of that year.' ' ~me ~f T~/yer ~Prooe~ if different from (Attach additional sheets if needed) SECTION III ESTIMATE TOTAL C Current Values Plus estimated values of PropOsed project Less: Values of any property being replaced Net estimated values upon completion of project AND VALUE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS MACHINERY COST ASS~r:n VALUE AssESSED VALUE ~ I~F~'~MATION R"~QUIRED BY'~"HE DESIGNAT-~'~ BODY SECTION IV OTHER I hereby certify that the ~=pfe~tations on this statement are true. / :": ~ IMPACT 0 ..... --------.-. r~ ~H~= CURRENT YEAR TAX ~ ~ Tax Rates Determined Using The Following Assumptions 1. Curreni ~t~l t~x rate.' iS 2. Approximate tax rate if project occurs and no deduction is granted. Approximate tax rate if project occurs and a deduction is assumed. Assume an 80% deduction on new machinery installed and/or a 50% deduction assumed on rea estate improvementS. 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: . .. A) Th.e..designated area has been limited to a period of time not to exceed .. calander years. *(See Below) B) The type of deduction that is allowed in the designated area is limited to: 1) Redevelopment or rehabilitation of real e~tate imPrOvements. ' ~ Yes ~ No 2) Installation of new manufacturing equipment 'ri .Yes [] No 3) No limitations on type of deduction (check if no limitations) r-I 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. Also we have reviewed the information contained in the statement of benefits including the impact on the tax rate incorporated herein, and have determined that the benefits described above can be reasonably expected to result from the project and are sufficient to justify the applicable deduction. council to rd or cou ., i* . .. ~ re__.V~l.._lt_z??o.n area, It does not limit the length of time a tax,~a~s=-[~n~e~t-l~,e,-p-e-riOd du. ring which an area is an economic uestgnated under I C 6-1 1-12.1-4 or 4.5 Namely' *- x-- ,a =,L,~== [o receive a deduction to a number of years NEW .~:: :,.,~ ~ OR'REHABILITATION 0F'RF~L pR~}PERTY iMpRovEME~!: For Deduct~ona Atlowe~ Ove~ A Pe~od ~. Year of Deduction 2nd 3rd 4t,'1 5th 6th and thereafter Percentage 100% 95% 80% 65% 5O% O% Year of Deduction 1ct 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 I00% 95% 8O% 65% 5O% 4O% 30% 2O% 10% 5%