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Home My WebLink About2000-R-23RESOLUTION 2000-R- RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PURPOSES OF PROPERTY TAX ABATEMENT WHEREAS, DOVER RESOURCES, INC. (d.b.a. COOK AIRTOMIC) 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 North Port Industrial Park, in the City of Jeffersonville, Clark County, Indiana; and WHEREAS, DOVER RESOURCES, INC. (d.b.a. COOK AIRTOMIC) 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, 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 Revitalization Area pursuant to Indiana Code 6-1.1-12.1 et seq., Resolution 97- R-10 and Confirming Resolution 97-R-14; 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 deduction. BE IT FURTHER RESOLVED, that the Common Council of the City of Jeffersonville 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 ten (10) years for improvements to real property, pursuant to the provisions of I.C. 6-1.1-12.1-3(d) and I.C. 6-1.1-12.1-4(d)(3), and five years (5) for equipment pursuant to I.C 6-1.1-12.1- 4.5, 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 ~ day of ATTEST: Pegg-y~e"r Clerk and Treasurer ,2000. s R Galligan Presiding Officer this Presented by me as Clerk and Treasurer to the Mayor of said City of Jeffersonville ~ day of ., 2000. ~'-~g g y ~ Clerk and Treasurer 2000. This Ordinance approved and signed by me this day of Thomas A location map is attached and survey is available There is no current assessed valuation of the real property. The property considered is 6.24 acres of property under development by North. Port Development Corporation. No personal property is currently located on the premises Cook Airtomic plans to construct a 40,000 +sq./ft. mahufactufing facility with approximately 7000 sq./ft, of attached office space. The total investment for land, building, building equipment, manufacturing and office equipment will exceed $6,000,000.00. Cook Airtomic will staffthe facility with, 150 + full time employees, of which 124 are expected to be employed by the end of the first year of operation. Expected payroll will total $5,400,000.00 at an estimated average annual wage rate before benefits of $36,000.00. No building permit has been issued for construction on the property for the improvement proposed. Please notify Harper Shiley regarding notice of Council meetings and public hearings concerning the petition. His address and telephone number is: Harper Shiley C. Lee Cook P.O. Box 1038 Louisville, KY 40201 Phone: 502 587-6783 A completed statement of benefits form (Form SB-1) is attached. Your help in this matter is greatly appreciated. Please advise if any additional information is needed for the petition We look forward to hearing from you and moving forward with this exciting project. Sincerely, Keith T. Cole cln;ktc Attachments file .,~URVEY #t5 ;URVEY #14 UPON NORTHWEST Y t4- AS DESCRIBED IN 16751 LOCATION MAP SCALE: NOT TO SCALE LEGAL DESCRIPTION A port of Survey 14 of the Ilinois Grant in Clark County, tndiena, being part of the tract conveyed to North Port Development Corporation at Deed Drawer 27, Instrument No. 8795 being more particularly described as follows: Commencing ct an iron pin at the north corner of said Survey 14; thence along the northwest tine of said Survey 14, S 54-' 35' 43" W, 815.88" to an iron pin at the northeast right-of-way line of Centennial Boulevard recorded ot Deed Drawer 27, Instrument No. 17088; thence along said right-of-way on o non-tangential curve to the right h(~ving' d radius of 730.00' with a tong chord bearing S 54' .54' 21" E, 332.43' to on iron pin and the True Point of Beginning; thence leaving said right-of-way N 54' 35' 4-3" E, 707.0t' to an iron pin at the center of Utico-Sellersburg Road; thence along the said center of rood S 35' 27' 23" E, 380.00'; thence S 54° 35' 43" W, 7.58.42' to an iron pin set at the said northeast right-of-way line of Centennial Boulevard; thence along said right-of-way line N 27' 31' 16" W, 205.42' to an iron pin; thence along said right-of-way line clang a tangential curve to the !eft with a radius of 730.00', (3 curve length of 176.98' to the True Point of Beginning and containing 6.24 acres, more or !ess. STATEMENT OF BENEFITS - State F.orm 27167 (R3 / 11.91)" :;.~. .: - · Form SB - 1 is prescribed by the State Board of Tax COmmissioners, 1989 . The records in this series are CONFIDENTIAL according to lC 6-1,1-3S;9 SB ,1 I iNSTRUCTIONS: ' ? -': ; ." 1. This statement must be submitted to the body designating the economic revitilization area pdor to the public hearing if the designating body'req~)~"e~ marion from the applicant in making its decision about whether to designate an Economic Revitilization Area. Otherwise this statement must be submitted to the designating body BEFORE a person installs the new manufacturing7 equipment, or BEFORE the redevelopment or rehabilitation of real property for. which the person wishes to claim a deduction. A statement of benefits is not required if the a,~ea was designated an ERA prior to July 1, 1987 and the "project" was planned and committed to by the applicant, and approved by the designating body, prior to that date. "Projects" planned or committed to after 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 rehabilitation, or prior to Installation of the new manufacturing equipment, BEFORE a deduction may be approved. 3. To obtain a deduction, Form 322 ERA, Real Estate Improvements and / or Form 322 ERA / PP, New Machi~e~ must be filed with the county a~,ditor. With respect to real property, Form 322 ERA must be filed by the later of: (I) May 10; or (2) thirty (30) days after a notice of increase in real property assessment is received from the township assessor. Form 322 ERA / PP must be filed between March 1 and'May 15 of the assessment year in which new manufac. tur/ng equipment is installed, unless a filing extension has been obtained. A person who obtains a filing extension must file the form between March I and June 14 of that year. 4. Property owners whose Statement of Benefits was approved after July 1, 1991 must submit Form CF- 1 annually to show compliance With the Statement of Benefits. ~IC 6.1.1-12.1-5.6) Name of taxpayer Dover Resources ]'nc. Address of taxpayer (street and number, city, state and ZIP code) 4606 East 67th Street, Suite 100 ..... . . Tulsa~ OK 74136-9481 Name of contact person Telephone number Keith Cole (502) 587-6783 Name of designating body Resolution number Location of property I County Taxing district North Port I Clark Description of real propeAy improvements and / or new manufacturing equipment to be acquired ~se additional shee~ ff necessa~) 40,000 sq./ft, manufacturing facility with-approximately 7;000 sq./ft of attached office space, manufacturing equipment and office equipment to support sales volume of $26,000,000. Estimated sta~ing date June, 2000 Estimated completion date Current number:0._. Salaries Number retained -0- Salaries -0- January, 2001 Number additional Salaries 151 $5,400,000 Cost Assessed Value Cost Assessed Value Current values ~-0-. Plus estimated values of proposed project $2. 600. 000 $3. 800. 000 Less values of any property being replaced Net estimated values upon completion of project $2. 600. 000 '.:. $3,800,000 .... J The facility to be built will be headquarters for Cook Airtomic. Cook Airtomic is well known in the Aerospace Industry as pro'viding highly engineered and precision ma_nufactu. Eed product. Airtomic products are sold world wide to world class clients'. Cook Airtomic is ISO 9001 certified and has an excellent employment record. Signature of authorized~ I hereby, certify that the representations in this statement are true. ' ...... Title Date signed (month, ~ay, ,, ~.1. Cole Asst. Sec./lreas. I 05/17/00~