The URL can be used to link to this page

Home My WebLink About1990-R-25 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 T.W.K. Properties as evidenced by the minutes of the Common Council meeting of January 9, 1989, 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 graqting the St_~tement of Benefits attached hereto 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 estimate of the That the employed or whose employment will be reasonably be expected to result from described redevelopment or rehabilitation. That the estimate of the annual salaries number of 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 (10) years for improvements to real property and for five (5) years for new manufacturing equipment commencing with the filing 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. k-~6~RT L.' W~IZ P~SIDENT, COMMON COUNCIL ATTEST: C. R~HARD SPENC~, JRt/ r CLERK-TREASURER ~ Presented by me as City of Jeffersonvilte, Approved and signed Clerk-Treasurer to the Mayor of the Indiana, this ~ day of iC. RICHARD SPENCER~ JR. CLERK-TREASURER ~ by me this 7 day of MAYOR DALE L. OREM $13,000,000. Mayor Orem hopes that 1989 will dwarf 1988 dollars in our community. He indicated he had received PAGE 8 JANUARY 9, 1989 : in construction "a lot of hell" this year regarding streets. On a recent trip to Evansville, Mayor Orem learned that town paid $200,000 to find out what Jeffersonville is doing with strip-paving. Stip-paving adds 5 to 10 years of life to a street. Reconstruction is only necessary when a street is destroyed. Our City is growing through annexation. Three hundred new jobs have been created in the last year, twenty five hundred in the last five years. ~n agreement has been reached with the County regarding the City-County Building that Mayor Orem feels will be to the best benefit to the citizens of Jeffersonville. The sewer grant is on the way and on schedule, and we should be using a new waste water treatment plant by 1991. Thanks to the past raises in sewer rates this facility should be makes this closer to happening. year. Mayor Orem closed by concern, and he hopes he and for the proper growth able to be built for $2 per user. Mayor Orem will be asking for a moderate sewer rate increase in 1989 of between 3% to 5%. The Parks Department is looking to expand with the tremendous building potential on the land between the bridges and the action today by the Park Board All of the above make 1988 a very good stating his appreciation for everyone's the Council can continue to push forward of Jeffersonville and that he is proud to be its Mayor. Councilman Perkins expressed agreement on the City-County Building. Filer will confer on this. concern 'on the wording of the Councilman Perkins and Attorney County Auditor Jones has asked to be advised in writing that an Economic Revitalization Area be created and the Statement of Benefits asking for a deduction signed by Councilman Shrewsberry regarding the Chestnut Street School is the intent of the Council. Following general discussion Councilman Williams made the motion -~=.ss~~z~-~t*~ that states the City Council intends to have a tax abatement on the' Chestnut Street School, seconded by Councilman Shrewsberry, passing with the following vote. Ayes: Councilman Williams, Shrewsberry, Harrod, and Grooms. Nays: Councilman Caldwetl. Abstain: Councilman Perkins who did not participate in the discussion or the vote. Name of Designating Bouy - Common Council of the City of Jeffersonville, Clark., .. County., IN 1 .~, .!<.. Vroperties 2413 Utica Pike, Jeffersonville, Clark County, Indiana STATEMENT OF BEN EFITS STATE BOARD OF TAX COMMISSIONERS State Form 27167 (7-87) Form SS-1 is Drsscfil~e(~ by the State Board of Tax Commissioners (1987~ ~ ' ' ' records in th s series are CONFIDENTIAL accorelng to Inciian'a C~te 6;1:1-35-9. Confidential Statement: The - - INSTRUCTIONS: ~LC. 6-1.1.12.1) THIS PAGE TO BE COMPLETED BY A~pI. ICANT · ~.~ .: 1. This statement must De submitted to the body designating the economic revltiflzation area BEFORE s oereon acrlutres new manufacru~ng equipment or begins tfie ~evetoDment or refiabfiltation of real bmDerty for which the person wishes to Claim e oecucr;on. Effective July I, 1087. 3. Ad,royal of the destgnet#ng body (City Council, Town Board, Codnt~ Council. err. i must be obtained before e ~leducfiqn may be 4. To obtain e deduction Form322 ERA, Real Estate lmpr°vemenrs and / °r Form 322 ERA I Pl~' New Machinery' must be filed wtth tfie county auditor. With respect to reel ~reperty, Form 322 ERA must be filed by tfie fater of (1I May 10 or (2) third(30) days after a nor zce of increase in real prober~y assessr~m I~ received fre~ the township assessor, Farm 322 ERA / PP must be filed between County Clark [ZIP Co;te 47130 Location o! property if ~ifferent from stove ..... Taxing Distdct Chestnut Street; Jeff~rsonville, Clark County, Indiana . Jeff City Cost aha descfiotion of rsat prope~y improvements ~d I or new manutactunng edui~e~[ to De aequirod: To [orally remodel a previously existing elementary school i~to apartment ~ding. Cost $270,000.00 for remodeling and $30,000.00 for building. (Attach additional sheets if needed) September, 1987 March, 1988 :SECTION ' ii' ESTiMATE~OF EMPLOY~i~5~:AND:SATJ~RIES Current Number Satar~es 1 5,000.00 SECTION III ESTIMATE TOTAL, COST AND VAI~UE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS Current Values Plus estimated values of proposed project Less: Values of any property being replaced Net estimated values upon completion of project COST I AsSESsED VALUE 30o, oo.oo 300; 000. O0 ~ SECTION IV OTHER INFORMATION REQUIRE[} BY THE DESIGNATING MACHINERY COST I ASSESSED VALUE FILED APR 26 1988 I Signatur s ' A ~,o ize;] presentative IM.^CT O. T.E CU.a=.T TAX Tax Rates Determined Using The Following Assumptions 1. Current~otal tax rate. 12. Approximate t~ i.ate i} pro}~t' ~Ccul.s and no deduction iS granted. To{al Tax Rates Approximate tax rate if project occurs and a deduction is assumed, j$ Assume an 80% deduction on new machinery installed and/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 tr~e general standards adopted in the resolution previously approved by this body. Said resolution, passed under lC 6-1.1-12.1.2.5, provides the following limitations as authorized under JC 6-1.1o12.1.2: A) The d_._esignated area has been limited to a period of time not to exceed _ /~ B) The type of deduction that is allowed in the designated area Is limited to: 1) Redevelopment or rehabilitation of real estate improvements. ~"Yes [] No 2) installation of new manufacturing equipment i--] .Yes )-~ No 3) NO limitations on type of deduction (cheCk ff no limitatione) [] No C) The amount of deduction applicable for new manufacturing ectuipment installed and first claimed eligible for deduction after July 1, 1997, 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 abpltcable deduction. / If ~mmission ~uncil town board or county council limits the time period during which an area ts an economic revitilization are~ it do~s not limit t~e length of time a taxpayer is entitled to receive a beduction to a number of years de.hated un~er LC. &1.1-12.1~ or 4~ Namely:. ntage 1ct I 100% 2nd I 95% 4t,h J 65% *ih 5th re~ f'er J 50% IDesignated ;aocly ,~'~:.~,~.~, , :..:~ .... · .... · MPROVEMENT For Deduct~na,AIIo~. ~.A Pe~ 0~' :;'~:~}:,:. :::~.:..~/~:~ ~ ~:: Year of Three (3) Year Six (6) Year Ten (10) Year 100% 66% 33% Percentage 100% 86% 66% 50% $4% 17% Percentage 100% 95% 80% 65% 50% 4O% 30% 2O% 10% 5% Deduction let 2nd 3rd 4th 5th 6th 7th 8th 9th 10th