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Home My WebLink About1997-R-30RESOIXTION RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PURPOSES OF PROPERTY TAX ABATEMENT WHEREAS, Sendur Leasing, Inc., an Indiana corporation (the "Applicant"), has petitioned the Common Council of the City of Yeffersonville, Indiana, for a deduction in real property taxes to be assessed on proposed improvements to be made on property located at 5140 Maritime Road, in the Clark Maritime Centre, in the City of Jeffersonville, Clark County, Indiana; and WHEREAS, the Applicant 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 Resolution Nos. 89-R-32 and 89-R-39, on September 16, 1989 and October 21, 1989, respectively, 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-I. 1-t 2. ! et seq.; 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. Resolution No. 97-R-~9 Page 2 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 7~/ ([t~) years for improvements to real property, pursuant to the provision of IC 6-1. I- t 2.1-3(d) and IC 6-1.1-12.1- 4(d)(3), with the timely filing and perfection thereof with the Clark County Auditor's office. Passed and adopted this ~~ofthe City of Jeffersonville, Clark County, Indiana. . ATTEST: C. Richard Spencer, Jrt.,*Clerk arid'Treasurer Pres?n~ted by me as Clerk and Treasurer to the Mayor of the City of Jeffersonville, Indiana, this 4 day ofm 1997' .~~ C. Rict~ard Spencer, Jr~.l~lerk an~reas~rer Approved and signed by me this ~'"~ay of-~19,~ /,~ /~,~ o~mas~R. Galligan, Mayor ~' C:kCoreI\Office7\WPWin7\TAX\SB APPROVAl, RES JENDUR.wpd STATEMENT OF BENEFITS FORM state Form 27167 (RE / 11-95} i sa ' 1 Form SB - 1 is prescribed by the State Boa~rd of Tax Commissioners, t 989 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 infor- mation from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise this statement must be submitted to the designating body BEFORE a person installs the new manufacturing equipment, or BEFORE the redevelopment or rehabilitation of real property for which the person wishes to claim a deduction, "Projects" planned or committed to after July 1, 1987 and areas designated after July 1, 1987 require a STATEMENTOFBENEFITS. (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 redeveleqment 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 / PR New Machinery, must be filed with the county auditor. With 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 assessment is received from the township assessec Form 322 ERA / PP must be filed between March I and May 15 of the assessment year in which new manufac- turing equipment becomes assessable, unless a filing extension has been obtaine~d. A person who obtains a filing extension must file the form between 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 Statement of Benefits. (IC6-1. I-12.1-5.6) Name of taxpayer JenDur Leasing, Inc. Address of taxpayer (atreet and number, city, state and ZIP code) 1400 Woerner Ave., Clarksville, IN 47129 Name of contact person Telephone number Steve Jenkins ( 812 ) 284-1444 Name of designating body Resolution number City of Jeffersonville City Council 97-R-~9 Locatiohof p~b'~e~%/ .... ' " '"" ' County ..... , T~[str~-t~h~p/ · 5140 Maritime Rd., Clark Maritime center Clark "Jefferson,,i!!e City )escription of real property improvements and / or new manufacturing equipment ESTIMATED use additional sheets if necessary) Start Date Completion Date Construction of a 20,000 square foot distribution Real Estate facility with 2000 square feet dedisated to office 5/15/97 8/31/97 space. New Mfg Equipment Current)number Salar~o0,000 Number retained Salaries Salaries 20 $500,000 (in 1 year) $132,400e~t. COST of the property is confidential, ii~¢;iiii:ii ii ii~¢~i,::i~i:!iiilil:::~iiiil Assessed Value l'!iii!l;¢i~:!i:I~ i~ i!~!i.~ii¢:, Assessed Value Current values 134,710 (lan() Plus estimated values of proposed project 600 ~ 000 Less values of any properly being replaced --0- Net estimated values upon completion of project 734,710 Estimated solid waste converted (pounds) Other benefits: w&steo Estimated hazardous waste converted (pounds) I hereby certify that the representations in this statement are true. Date signed/~mont~ day, year) We have rev ewed our prior actions re at ng 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 been limited to a period of time not to exceed designation expires is B. 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 I~No ~]Yes E~No [~Yes []No 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 lim tat ons or conditions (specify) F. The deduction for new manufacturing equipment installed and first claimed eligible for deduction after July 1, 1991~s allowed for: [] 5years [] 1~yearsThededucti~nper~dwi~be~ve(5)yearsun~essthedesignatingb~dyhasbyres~uti~nspecifiedthe~en(1~)yearperi~d. Aisc we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reason- able and have determined that the totality of benefits is sufficient to ustify the deduction described above. t~he des gr~atlng body ti h an taxpayer is entitled to receive a deduction to a Telephone number Date signed (month, day, year) area is an economic revitilization area, it does not limit the length of time number of years designated under lC 6-1.1 -12.1-4 or 4.5 Namely: (see tables below) 1 st 2nd 3rd 1 OO% 95% 80% 100% 95% 9O% 85% 4th 65% 5th 50% 80% 6th 70% 7th 55% 8th 40% 9th 30% 10th 25% Year of Three (3) Year Six (6) Year Ten (10) Year Deduction Deduction Deduction Deduction 1 st 100% 100% 100% 2nd 66% 85% 95% 3rd 33% 66% 80% 4th 50% 65% 5th 34% 50% 6th 17% 40% 7th 30% 8th 20% 9th 1 O% 10th 5%