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HomeMy WebLinkAbout2000-R-32RESOLUTION 2000-R-~ RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PURPOSES OF PROPERTY TAX ABATEMENT WHEREAS, ROLL FORMING CORPORATION, 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, ROLL FORMING CORPORATION, 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 individualsl 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 o~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, shall be entitled to deductions for a period of TEN ('10) YEARS for improvements to real property, pursuant to provisions of I.C. 6-1.1-12.1-$(d) and I.C. ^-1.1- 12.1-49(d)(3), and that said Applicant shall be entitled to deductions for a period of FIVE ($) YEARS for equipment and machinery, pursuant tothe 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 thereofwith the Clark County Auditor's office. approval. Passed this This Ordinance shall be in full force and effect from and after its passage and ATTEST: ~'egg'~~ r Clerk and Treasurer __ day of ~ ~,.,, .2,000. Presiding Officer Presented by me as Clerk and Treasurer to the Mayor of said City of Jeffersonville this c~t day of~t.b,'~ ~._. , 2000. Clerk and Treasurer 2000. This Ordinance approved and signed by/r~e this c:~-\ day of~L~DV,~..~;~.~, , .(3 STATEMENT OF BENEFITS State Form 27167 (R5/11-95) Form SB - 1 is prescribed by the State Board of Tax Commissioners. 1989 FORM SB - 1 INSTRUCTIONS: 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 mation from the applicant in making its decision about whether to designate an Economic Revitalization 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 h which the person wishes to claim a deduction. "Projects" planned or committed to after July 1, 1987 an'd area$ ~lesignated after July 1, 1987 require 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 rehabilitatior 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 Machinery, must be filed with the county auditor. Wi, respect to real property, 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, is received from the township assessor. Form 322 ERA / PP must be filed between March I and May 15 of the assessment year in which new manufa, turing equipment becomes assessable, unless a filing extension has been obtained. A person who obtains a filing extension must file the form betwe~ March 1 and June 14 of that year. 4. Property owners whose Statement of Benefits was approved after June 30, 1991 must submit Form CF - 1 annually to show compliance with the Stateme, of Benefits. (lC 6-1.1-12.1-5.6) ~,r Address of 1 (street state and ZiP code) Narp, e of contact persop, . , Telephone number Resolution number Nam&~f designating body Taxing district Location of{oropert'y C°~..,.~tYl ~¢' r ~ Description of real prope~ improvements and / or new manufacturing equipment ESTIMATED (use additional sheets if necessarx) Sta~ Date Completion Dat( Salaries ,mac---'--- NOTE: Pursuant to lC 6-1.1-12.1-5.1 (d) (2) the COST of the property is confidential, iiiiiiiiiiiiiiiiiiiiii~i~i~iii~i~ili=~i[!iii!~i~i~iii~i Assessed Value iiiii=iiiiiiiiiiiiiii~i~iiii~iii~ii~ii=/(~ Assessed Value Current values --'----- Plus estimated values of proposed project Less values of any property being replaced Net estimated values upon completion of project / ~, t ~_~'-/~I~(E~ -'~,,~. ~"~,~i~ Estimated solid waste converted (pounds) Other benefits: Estimated hazardous waste converted (pounds) certify that the representations in this statement are true. 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, pro- vides for the following limitations as authorized under lC 6-1.1-12.1 -2. A . The designated area has bec.~ limitad to a period of time not to exceed ~1'/~ calendar years * (see below). The date this designation expires is B. The type of deduction that is allowed in the designated area is limited to: I. Redevelopment or rehabilitation of real estate improvements; [] N o 2. Installation of new manufacturing equipment;~"~ [] N o 3. Residentially distressed areas [] Yes [] N o C .The amount of deduction applicable for new manufacturing equipment is limited to $ ' cost with an assessed value of $ D .The amount of deduction applicable to redeveloPment or rehabilitation 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 d'eddCtiOr~ after July 1 i.1991 iS ~llowed for: ,~ears [] 10 years The deduction period will be five (5) years unless the designating body has by resolution specified the ten (10) year period. Also we have reviewed the' ~'[or'~ation contained in th,e statemer~t of bene!!~ts and find that the estimates and expectations ~are reason- able and have determined tt~at the' totality of benefits is sUfficient'to justify the deduCtiOn desCr]b'ed above. Appr,~ed: (signature and title of authorized member) Telephone number Date signgd (rnor~th, day., ~ear) Attested by~.~-~., , Designated body * ~f tl~ designating body limits the time period during Which an area is an economic revitiiizati°n area, it dde§' ~°t limit th~ le~gih of time a taxpayer is entitled to receive a deduction to a number of years designated under lC 6-1.1-12.1-4 or 4.5 Namely: (see tables below) Year of Five (5) Year Ten (10) Year Deduction Percentage Percentage i st 100% 100% 95% 2nd 95% 3rd 80% 4th 65% 5th 50% 6th ':' ~,~,..;~ 7th 8th 9th 10th 90% 85% 80% 70% 55% 40% 30% 25% Year of Six (6) Year, Deduction Deduction I OO% 8th I st 100% 100% 2nd 66% 85% 95% 3rd 33% 66% 80% 4th 50% 65% 5th ' 34% 50% 6th ~ 17% 40% 7th 30% 200/o- 9th 1 O% 10th 5% '