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Home My WebLink About2000-R-15Ronald Eliis, President Common Council City of Jeffersonville ATTEST: Pegg~K~ght Wild-er Clerk and Treasurer day of Presented by me as Clerk and Treasurer to the Mayor of said City of Jeffersonville this ,200__. ~ Peggy I~¥g~t Wilder- Clerk and Treasurer this dav of . Approved and signed by me ,200 /l'hof-nas R. Gal~ig~n,/.-f(/layor RESOLUTION 2000-R- ~ RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PURPOSES OF PROPERTY TAX ABATEMENT WHEREAS, CHEMTRUSION, INC. has petitioned the Common Council of the City of Jeffersonville, Indiana, for a deduction in real property taxes to be assessed on proposed improvements to be made on property located in the area commonly known as the Clark Maritime Centre, in the City of Jeffersonville, Clark County, Indiana; and WHEREAS, CHEMTRUSION, INC. has submitted an application which includes the Statement of Benefits on the form prescribed by the Indiana State Board of Tax Commissioners for such purpose, which application and statement include a description of the proposed redevelopment, an estimate of the number of individuals who will be employed as a result of the redevelopment, an estimate of the annual salaries of these individuals, and an estimate of the value of the redevelopment, attached hereto as "Exhibit A" and WHEREAS, by Ordinance No, 90-OR-56, on November 7, 1990, the Common Council of the City of Jeffersonville designated the area where the proposed redevelopment project is located in the City of Jeffersonville as an Economic Development Target Area pursuant to Indiana Code 6-1.1-12.1 et seq., specifically lC 6-1.1-12.1-7; and WHEREAS, the City's Department of Redevelopment has reviewed the application and Statement of Benefits submitted by the Applicant and has advised the Common Council that the application has been submitted in compliance with the approved Tax Abatement Policy of the Common Council of the City of Jeffersonville. 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 of the value of the redevelopment is reasonable for projects of the nature described in the Statement of Benefits submitted by the Applicant. 2. 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. 3. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained can be reasonably expected to result from the proposed described redevelopment. 4. That all other information requested from the Applicant has been submitted, and the benefits described in such information can be reasonably expected to result from the proposed described redevelopment. 5. That the totality of benefits for said redevelopment is sufficient to justify the de~fuction. BE IT FURTHER RESOLVED, that the Common Council of the City of Jeffersonviile hereby approves the application and Statement of Benefits as presented and filed by the Applicant, and that said Applicant shall be entitled to deductions for a period of THREE (3) years for equipment and machinery, pursuant to the .provision of lC 6-1.1-12.1-3(d) and lC 6-1.1-12.1-4(d)(3), with the timely filing and perfection thereof with the Clark County Auditor's office. This Ordinance shall be in full force and effect from and after its passage and approval. Passed this "~1~i day of ~£££../j~.i/' , 2000. ATTEST: Pegg:y'-W~er Clerk and Treasurer Rbnald G. Ellis, Presiding Officer Common Council President ~resented by me as Clerk and Treasurer to the Mayor of said City of Jeffersonville this ~ ID day of /~¢~{4~;'/ ,2000. Peggy ~-~f~l)e r- Clerk and Treasurer This Ordinance approved and signed by methis /'/~'¢ dayof ~2~¢~¢~/ ,2000. STATEMENT OF BENEFITS State Form 27167 (R3/11-91) Form SB - 1 is pres(A'ibed by the State Board of Tax Commissioners, 1989 The records in this series are CONFIDENTIAL according to lC 6-1.1-35-9 I FORM · SB-1 ISTRUGTIONS: 1. This statement must be submitted to the body designating the economic revitilization area prior to the public hearing if the designating body requires info marion from the aPPlicant in making its decision about whether to designate an Economic Revitilization Area. Otherwise this statement must be submitt~ to the designating body BEFORE a person installs the new manufacturing equipment, or BEFORE the redevelopment or rehabilitation of real property f< which the person wishes to claim a deduction. A statement of benefits is not required if the area was designated,, an E.R,_A, prior to July 1, 1987 and tk "project" was planned and commiffed to by the applicant, and approved by the designating bodY, Prior t° that date. 'Projects planned or committed to aft~ July 1, 1987 and areas designated after July 1, 1987 require a STATEMENT OF BENEFITS. (lC 6-1.1 - 12.1) 2. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to initiation of the redevelopment or rehabilitatio~ or prior to installation of the new manufacturing equipment, BEFORE a deduction may be approVed. 3. obtain a deduction, Form 322 ERA, Real Estate Improvements and / or Form 322 ERA / PP, New MachinerY, must be filed with the county auditor. Wi reT°s ect to real propert)4 Form 322 ERA must be filed by the later of: (1) May 10; or (2) thirty (30) days after a notice of increase in real property assessme ~ ?~,.~i~,~,~ ~r~m th~ tn~n~hio assessor. Form 322 ERA / PP must be filed between March I and May 15 of the assess.m..en.t ye. ar in. wh. ich ne.w. m.an~ufa 't~u;i~q~u'~n'~'~t'i's-i~-si'ai[e'~lT ~-I&~ a 'filing extension has been obtained. A person who obtains a filing extension must file the form between March ~ ar June 14 of that year. 4. Property owners whose Statement of Benefits was approved after July 1, 1991 must submit Form CF - I annually to show compliance with the Statement Benefits. (lC 6-1.1-12.1-5.6) .s of taxpayer (street and number, ZiP code) Na~e of_contact person - -- of desi I body :ion of real property improvements and / or new man[~facturing equipment to be acqUired (use additional if necessary) or Telephone number Resolution number ;district hated starting date Estimated completion date Cest Assessed Value Cost Current values Plus estimated values ofproposed project ~ 7 7~. ~ ~' 7 ~.,,..~,~..].. Less values of any property being replaced Net estimated values upon completion of project " ~.., '~ ~ ~:)) ~ ~, ? ~'~, 3~o % , Signature of authorized I hereby certify that the representations in this statement are true. · . / ITM . Date signed (month, day, year) We have rev awed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets t genera standards adopted in the resolution previously approved by this body. Said resolution, passed under lC 6-1.1-12.1-2.5, pl, vides for the following limitations as authorized under lC 6-1 .1-12.1-2. The designated area has been limited to a period of time not to exceed designation expires ~s The type of deduction that is allowed in the designated area is limited to: 1. Redevelopment or rehabilitation of real estate improvements; 2. Installation of new manufacturing equipment: 3. Residentially distressed areas calendar years ' (see below). The date this [] Yes [] No []Yes i-'1 No []Yes I'-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 of $ D. The amount of deduction applicable to redevelopment or rehabilitation in an area designated after September 1, 1988 is limited to $ cost with an assessed value of $ E. Other limitations or conditions (specify). F. The deduction for new manufacturing equipment installed and first claimed eligible for deduction after July 1, 1991is allowed for: [] 5 years [] 10 years Also we have reviewed the information contained in the statement of benefits and find that me estimates and expectations are reason- able and have determined that the totality of benefits is sufficient to ustify the deduction described above. d: (signature and title of authorized member) Telephone number [Date signed (month, day, year) A pp ~y~e Attested by: Designated bo0y * If the designating body limits the time period during which an area is an economic revitilization area, it does not limit the length of time t deduction to number of designated under lC 6-1.1-12.1-4 or 4.5 Namely: (see tables below) a taxpayer is entitled to receive a years Year of Five (5) Year Ten (10) Year Deduction Percentage Percentage I st 100% 100% 2nd 95% 95% 3rd 80% 90% 4th 65% 85% 5th 50% ~ 80% 6th I 70% 7th 55% 8th 40% 9th 30% 10th 25% I st 100% 100% 2nd 66% 85% 3rd 33% 66% 4th 5th 6th 7th 8th 9th Ten (10) Year Deduction 100% 95% 80% 50% ~ 65% 34% 50% 17% 40% 30% 20% 10% 10th 5%