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Home My WebLink About1990-R-23 ESOnUT¢ON NO. RESOLUTION COMMEMORATING PRIOR APPROVAL OF STATEMENT OF BENEFITS ~ra~,ting, ~t~e Stat~ement of Benefits attached hereto WHEREAS, the Common Council has previously approved the Statement of Benefits filed by Ashley Lithographing & Company, Inc. 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 filed by 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 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 for new manufacturing equipment commencing with the perfection thereof with the Clark County Auditor's (5) years filing and office. Passed 1990, by the Common Council Clark County, Indiana. Presented by me as City of Jeffersonville, /~ , 1990. / and adopted this ~ day of .~./~ , of the City of Jeffersonville, ATTEST: Clerk-Treasurer to the Mayor of. the ~ day of Indiana, this Approved and signed C. RfCHARD SPENCER~JR. CLERK-TREASURER ~ by me this 7 day of MAYOR DALE L. ORE~ -- ~ Page 2 October 3, 1 third and final reading. At the conclusion'of Mr. Fifer's,:presentation, and general discussion among the members of the Council, Councilman Waiz made a motion to pass Ordinance No. 88-ORv40 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 Ashley Litho- graphing, ACL, S & R Truck Tire and Reisert Refrigeration, a,.n.d reviewed the documents supplied by the aforementioned companies. He" then asked for a motion by the CounciL. that Council President Perkins be authorized to approve said Statement of Benefits on behalf of American Commercial Lines. Councilman Shrewsberry then made a m6tiqn that Council'President Perkins be authorized to'~approve.the Statement 'Of Benefits of American Co.,,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 Tire and addressed the Council concerning the approval thereof. C6uncilman Grooms' then' mad~ a motion that CounCil President Perkins be authorized to ~a?p~ove the Statement of Benefits On behalf of S & R Truck Tire, seconded by Counci~man'Waiz and passe~ ~":~ unanimous ly. ~ ' ' ~' City Attorney C. Gregory Filer then presented the Statement of Benefits of Reisert .Refrigeration Company and addressed the Council concerning approval thereof. Councilman Harrod. then made a motion that Council President Perkins be authorized to, apprOVe the Statement of Benef on behalf of Reisert Refrigeration, seconded by Councilman Williams and passed unanimously. City Attorney C. Gregory F,ifer 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 behalf of Ashley Lithogr,aphing, unanimously. to approve the Statement of Benefits on seconded'by Councilman Waiz and passed 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 .~ ~ '. ~--,~_~:~*~,.~. STATEMENT OF BENEFITS , . -;~d~ :,~ , State, Form 27'/67 ' Form SS-1 is prescribed by the State BOard Of Tax Commissioners (1987) i Name of Designating Bocly STATE BOARD OF TAX COMMISSIONERS Confidential Statement: The records in this sodas are CONFIDENTIAL according to indiana C~_ae 6~I'.1.35-9. INSTRUCTIONS: (I.C. E-1.1-12.1) THIS PAGE TO BE COMPLETED BY APPLICANT . ~ ~. ., · 1. This srstement must be submitted to the ~ody designating the economic revifilizetion area BEFORE a hereon aceuires new manufacturing e~lui;ment or begins tfie redeve!opme~t or rehabilitation of real property fo~ which the person w~shes tc claim a clequctinn. Effective July 1, 1987. 2. ~fa~ers~nisre~ue$~i~tgthedesignattcnofanec~n~mi~rswta~ij~-~tJ~ars~,thls~ormmus~b~$ubini~t~datt~am~fimad~ers- 3. Approval of the ~esignating body (City Council, Town Board, COunty CoUncil. etc.) must be obtained before a deduction may be 4~ To obtain a de#ucfio~ Form 322 ERA. Re.a.I Estate Improvements and / or Form 322 ERA'/PI~, New MaChinery. must be fileO with .. notice of increase in real proper~y asse~s~rrt is received fre~ the township assessor. Form 322 ERA / PP must be filed between March I and May 15 of the asaesament ~/ear.~n which n~w manufacturing equipment is installed, unless a filing extenrion has been obtained. A person who obtains a filing extenrfon must file the t. orm between March 1 and June 14 of that year,' Cost anct 0eacnption of real property improvements acq I or new manufacturing equipment to be ssquired: Estimated Starting Date Estimate Completion Date (Attach additional sheets if needed) Current Number Samriee Number Retained Salaries Number Additional Salaries - I I I I I SECTION III ESTIMATE TOTAL COST AND VALUE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS MACHINERY cosz ^SS~SS£D vA~U£ COST Current Values ~ ~'~ Plus estimated values of proposed project Less: Values of any property being i'eplaced Net estimated values upon completion of project I SECTION IV OTHER INFORMATION REQUIRED BY THE DESIGNATING BODY "' ' I hereby certify that the representations on this statement are true. 'Title FOR USE OF DESiGNATiNG BODY IMPACT ON THE CURRENT YEAR TAX RATE FOR THE TAXING DISTRICT INDICATED ABOVE · ... Tax Rates Determined Using The Following Assumptions 1. Current~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. To~al Tax Rates .Assume an 80% deduction on new machinery installed and I or a 50% deduction assumed on real 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 uncier IC 6-1.1-12.1-2: A) Th.e..designated area has been limited to a period of time not to exceed catander years. '(See Below) ~ B) The type of deduction that is altowed in the designated area is limited to: 1) Redevelopment or rehabilitation of real estate improvements. F"r Yes [] No 2) Installation of new manufacturing equipment [].Yes [] No 3) No limitations on type of dedu"tion (cheoklfno limitations) [] 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 cleterminecl that the benefits described above can be reasonably expected to result from the project and are sufficient to justify the applicable deduction. · t//'// * If a commission council town board or county council limits the time period during which an area is an economic re~HtiliZation 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:..:::~ ~ ..... ': RED ELOPMENT oR REI-IA~Ii:ITAT ON OF L PR RTY IMPROVEMENT · :'.~ ;'~ ~ .~ou~plaFJ~r~: ~:~ · ~ ?~" ."*' "~:' '.:::' :~ . :: .~ _ · ..... ~?:: ~.::: ~ .... : ~ For Dedtlcttona Allowed Over A Period orr ~' :::., Year of DeductionI Percentage Year of I Three ,3)YearI Six (6) Year I Ten (10) Year -- _ Deduction Percentage Percentage Percentage 1st 100% 1st 100% 100% 100% 2nd. 95% 2nd 66% 85% - 95% 3rd 80% 3rd 33% 66% 80% 4t.h 65% 4th 50% 65% 5th 50% 5th 34% 50% 6th and thereafter 0% 6th 17% 40% 7th 30% 8th 2O% 9th 10% 10th 5% / ! 1 I ! 1 I ! 75'o0