HomeMy WebLinkAboutHeritage Hardwoods of Kentucky,~ FORM '1
~,~ STATEMENT OF BENEFITS SB - 1
Im~UC~ONS . ' rew~li~fion ~ea ~dor to ~e public he~ng if ~e designating ~ r~uims infor-
. ubm~tothe~designa~qg~e~nom~c ~_~n_~=v~liza~onArea Othe~ise~isstatementmu~subm~
, ui ment. or BEFORE t~e r~evelopment or rehabili~on of real p~
' ' ~o BEFORE a pe~on ~ns~l s ~e new ma~yta~ng ~. ~,~,~ i ~ ~ea w~ designat~ an E~ pdor
'; ' was lann~ and ~mm~ Y · iTS
2. App~l of the designating ~y (Ci~ Coun~l. To~ Board. Coun~ Coun~l. etc.) must ~ o~tain~ pdor to in~a~n of the r~evel~pment or r~l~afion.
or ~fior to instaltatton of ~e new m~ufa~n~g ~u~pment, B~ORE a d~u~on may De
Impmvemenm and / or Fo~ 3~ E~A / P~ New Ma~ine~. mus~
3. To o~mln a d~uc~on. Fo~ 3~ E~. Real Estate · 10 or 2 ~i~ (30) d~ after a no~
~. prope~ owners wnose Statemem of Bene~ was aD~rov~ a~er July1. 1991must submit Fo~ CF- l annualty to s~w ~mpJi~ce wi~ ~e S~tem~ ef
B~efi~ l'~1'5~) . .. . ~ - .
~ N~me o~ t~p~yer
L Heritage Hardwoods of Kentucky, Inc. '
Address of taxoayer (street ~ numDer, c~O/. s:ate and ZiP code)
1507 Production Road, jeffersonville, Indiana
Teleonome num~3er
i Name of contac/person I ( 81 2 ) 2 8 8
Maurice Smith, President
ResoJutlon number
Name oJ aesJgna~ng b~y
~ jeffersonville Cit~ Council [CounW
U 3tJonofprope~ Jeff Townsh~
1507 Production Road~effersonvill~ Clark ~
~ 5-1-95
Hardwood manufacturing equipment (see attached list)
]Curt'em numuer S~anes N~mi~r te~aJne¢l
~ 6 5 Salves ~Num~r acne.nm S~
i ,524,000 ~ ~4
65 1,524,000
~O.- Pu, su=n As~ Value
CO~ of t~e Dr0pe~ is ~fidentiaL ~ ~
Cu~ent values
Plus es~mmed vaJues of pro~s~ Dro~ ~
Ne( estimated vAJues ugon ~mple~on of D~I~ ~
none
We have reviewed our prior actions reiatino to the designation of this economic revitalization area and find that the applicant meets the
general standards adoeted in the resolutio'n 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 .I-12.1-2.
A. The designated area has been limited to e period of time not to exceed - 0 - calendar years * (see below). The date this
designation expires is
B. ~e ~pe of d~umion that is Allowed in t~e designated area is limited to:
~. Redevelopment or rehabilitation of real estate improvements: ~ Yes ~ No
2. lnstallAti~ ¢ new manufac~nng ~uipment: ~ Yes ~ No
3. Residentially digressed ~reas ~ Yes ~ ~
C. The amount of dedu~ion ~ppiicAbte for new manufacturing equioment installed and first claimed eligible for dedu~ion a~er July
1987. is limited to $ - 0- ~ost with ~n assessed v~iue of $
D. The amount of dedu~ion applicable to redevelopment or rehabilitation in an area designated a~er September 1, 1988 is limk~ to
$ - - cast with an assessed value of $
E. Other ~imit~tions or conditions (specify)
F. The deduction for new manufacturing equipment installed and first claimed eligible for deduction ~er July 1. 1991is ~llowed for:
~ 5 years ~10 years
A~so we ~ve reviewed the informabon come,ned in t~e s~atement of benefits ~nd find that the est me,es ~nd expem~tions are re,son-
able and have determined that t~e tctailW of benefits is sufficient to justify the deduction described ~bove.
' ;%. City Council of City o~
~ ~~ ~~ Jeff er sony i lie, Indiana ~ ~.
. '''. ........ 3~ ,~ time ¢~r;~ which an area is sn economic rev,tmzat,an are~. ,t doan.not ,~.,t.the I~
percentage
100%
95%
2nd
3rd 80%
nth 85%
5~h 50% 80%
70%
55%
7th
8th 40%
3O%
9th
25%
1 Otb
1
95%
9O%
85%
Year of
Deduction
1 st
Three (3) Year~
Deduction
100%
2nd 86%
3rd 33%
4th
5th
8th
7th
8th
9th
10th 5%.
(6) Year ! Ten (10i Year
100% 100%
85% 95%
66% 8O%
5O% 85%
34% 50%
17% 40%
-30%
' 205,.
10%*