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HomeMy WebLinkAbout2026-R-4 Resolution Approving Statement of Benefits for Proposed Personal Property Tax Abatement (Welbilt) BEFORE THE COMMON COUNCIL FOR THE CITY OF JEFFERSONVILL INDIANA RESOLUTION NO. 2026-R- RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PROPOSED PERSONAL PROPERTY TAX ABATEMENT WHEREAS, WELBILT FSG OPERATIONS, LLC petitioned the Common Council of the City of Jeffersonville, Indiana, for a deduction in personal property taxes to be assessed on personal property to be generally located at 4780 Keystone Road, in the City of Jeffersonville, Clark County, Indiana; and WHEREAS, WELBILT FSG OPERATIONS, LLC has submitted a Statement of Benefits on the form prescribed by the Indiana State Board of Tax Commissioners for personal property, which statement includes IT investment in infrastructure (computers, printers, RF guns and installation), Logistics investment in additional material handling equipment and Manufacturing investment in a custom machine that produces conduit used with their systems to expand capacity. An estimate of the number of individuals who will be retained as a result of the personal property investment, an estimate of the salaries of these individuals, an estimate of the number of individuals who will be employed as a result of the personal property investment, an estimate of the annual salaries of these individuals, and an estimate of the value of the personal property investment; and WHEREAS,the Common Council of the City of Jeffersonville has previously determined that the area in which the proposed personal property investment project is located in the City of Jeffersonville qualifies as an economic revitalization area pursuant to Indiana Code 6- 1.1-12.1-5, et seq.; and WHEREAS,the Redevelopment Commission of the City of Jeffersonville has made a favorable recommendation for approval of the Statement of Benefits for personal property; and 1 WHEREAS,the Common Council of the City of Jeffersonville has reviewed the Statement of Benefits and its attachment "A" submitted herein, and attaches and incorporates the Statement of Benefits submitted herein, and attaches and incorporates the attachment"A" to this Resolution. BE IT FURTHER RESOLVED,that the Common Council of the City of Jeffersonville,Indiana,hereby approves the application for deduction presented by the Statement of Benefits filed by WELBILT FSG OPERATIONS,LLC, and that said company shall be entitled to deduction for a period of FIVE (5)years for investments in personal property pursuant to provisions of I.C. 6-1.1-12.1-3(d),with the timely filing and perfection thereof with the Clark County Auditor's and Clark County Assessor's office. This Resolution shall be in full force and effect from and after its passage and approval. Passed this / day of May,2026. NOW,THEREFORE,BE IT RESOLVED,by the Common Council of the City of Jeffersonville, Indiana,that it specifically and affirmatively finds as follows: 1. That the estimate value of qualifying personal property investment of$1,500,000.00 is reasonable for projects of the nature described in the Statement of Benefits submitted by the company. 2. That the effective"start date"of the deduction period will begin on /06 following approval from the Redevelopment Commission of the City of Jeffersonville. 3. That the abatement schedule is justified and prescribed by the Tax Abatement Score Sheet attached as"Exhibit A"to Ordinance No. 2015-OR-56. 2 4. That the estimate of the number of 46 new individuals to be employed at the project site can reasonably be expected to result from the proposed described personal property investment. 5. That the estimate of the annual salaries of the 46 new individuals who will be employed at the project site can reasonably be expected to result from the proposed described personal property investment. 6. That the taxes lessened from the granting of this abatement shall be for investments in real property up to the value of$45,507.00. 7. That all other information requested from WELBILT FSG OPERATIONS, LLC has been submitted, and the benefits described in such information can be reasonably expected to result from the proposed described personal property investment. 8. That the totality of benefits for said personal property investment is sufficient to justify the deduction. 9. That WELBILT FSG OPERATIONS, LLC has agreed to the payment of a fee of 10% of the annual benefit of the abatement of the Jeffersonville City Council annually as described in I.C. 6-1.1-12.1-14. [signature page to follow] 3 VOTED FOR: VOTED AGAINST: ef/ta' 141(-1"— I 1.b7 C Ataa- Passed and adopted by the Common Council of the City of Jeffersonville, Clark County, Indiana on this 7 day of May, 2026. (// Donna Reed, Council President Attest: Lisa Gill, Clerk Presented by me as Clerk to the Mayor of said City of Jeffersonville this Le day of May, 2026. 'sa ill, Cler This Resolution approved and signed by me this / day of , 026. ike Moore, M or This Resolution vetoed by me this day of May, 2026. Mike Moore, Mayor 4 Abatement Schedule Exhibit Real Property Year Abatement Percentage 1 100%exempt 2 95% exempt 3 80% exempt 4 65%exempt 5 50%exempt 6 40%exempt 7 30% exempt 8 20%exempt 9 10%exempt 10 5% exempt 11 First year of full property tax payment Personal Property Year Abatement Percentage 1 100% exempt 2 75% exempt 3 40% exempt 4 20%exempt 5 10% exempt 6 0% exempt 5 ATTACHMENT TO THE STATEMENT OF BENEFITS FOR WELBILT FSG OPERATIONS, LLC May , 2026 The Council will grant a 5-year abatement on $1,500,000.00 in personal property as allowed by state statute. The Company will provide jobs and salaries as specified in the SB-1 and any attachment thereto. It is the expectation of the Council that the company will reach the number of employees and average wages specified on the SB-1 within five years. The Company understands this abatement is being offered based upon those jobs and wages. If the company fails to substantially reach those numbers or fails to maintain those numbers over the life of the abatement, the Council may, as provided by law, rescind this abatement. The Company agrees to make available any and all information the Council deems necessary to verify compliance. The Company agrees to pay an annual fee of 10% as described in Indiana Code 6-1.1-12.1-14. WELBILT FSG OPERATIONS, LLC By: Printed: .) , �jGv d Title: 6