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Home My WebLink About1996-R-08 RESOLUTION NO. 96-R- ~ RESOLUTION APPROVING STATE~ENT OF BENEFITS FOR PURPOSES OF PROPERTY TAX ABATEMENT WHEREAS, P.G.P., Inc., d/b/a Voss Clark, has petitioned the Common Council of the City of Jeffersonville, Indiana, for a deduction in real property and personal property taxes to be assessed on proposed improvements to be made and equipment in the located in the City of Jeffersonville, Clark Clark Maritime Centre, County, Indiana; and WHEREAS, P.G.P., Inc., Statement of Benefits on the Board of Tax Commissioners d/b/a Voss Clark, has submitted a form prescribed by the Indiana State for such purpose, which statement includes 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; and WHEREAS, the Common Council of the City of Jeffersonville has previously determined that the area in which the proposed redevelopment project is located in the City of Jeffersonville qualifies as an economic revitalization area pursuant to Indiana Code 6-1.1-12.1 et seq., and Resolution 89-R-32 and Confirming Resolution 89-R-39; and WHEREAS, the Common Council has reviewed the Statement of Benefits submitted herein, and attaches and incorporates that Statement to this Resolution. by the Common Council of the that it specifically and employed or whose employment will be retained can reasonably be expected to result from the proposed described redevelopment or rehabilitation. 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 or rehabilitation. 4. That all other information requested from P.G.P., Inc., d/b/a Voss Clark, has been submitted, and the benefits described in such information can be reasonably expected to result from the proposed described redevelopment or rehabilitation. 5. That the totality of benefits for said redevelopment or rehabilitation is sufficient to justify the deduction. BE IT FURTHER RESOLVED, that the Common Council of the City of Jeffersonville, Indiana, hereby approves the application for deduction presented by the Statement of Benefits filed by P.G.P., Inc., d/b/a Voss Clark, and that said developer shall be entitled to deductions for a period of ten (10) years for improvements to real property, pursuant to the provisions of I.C. 6-1.1-12-3(d) and NOW, THEREFORE, BE IT RESOLVED City of Jeffersonville, Indiana, affirmatively finds as follows: 1. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of the nature described in the Statement of Benefits submitted by the developer. 2. That the estimate of the number of individuals who will be i.e. to I.C. 6-1.1-12.1-4.5, with the timely filing 6-1.1-12.1-4(d)(3), and ten (10) years for equipment pursuant and perfection thereof with the Clark County Auditor's office. Passed and adopted this ~_~ day of ./~. 1996, by the Common Council of the City of Jeffersonville, County, Indiana. ATTEST '. C. Richard Spencer, Jr. Clerk-Treasurer Clark Presented by me as Clerk-Treasurer to the Mayor of the City of Jeffersonville, Indiana, this ~ day of ,~ , 1996. C. Ricnard Spencer/~ Jr. Clerk-Treasurer Approved and 1996. signed by me this ~ day of Thomas Galligan, May~/ V3574:3854 020596:1:30238:STiTES-JEFF VOSS RESOLUTION STATEMEHT'OF'BENErt i ~ FORM SB'-~, 1 ~ .~mt"~ Fomt SB. 1 is pe~len~ed by the State Boaml of Tax Cmllmissianef~ 1989 IN~'[RUCTIONS: i · . ' :~'~ ' ~ ~ " ~ ~ ; : ~ : '' 3. To~a~-~.~E~*Reg~;e;e~~/°r~E~/PRN~~~~ ~ ~ ~ ~ ~11~. unle~ a ~ e~~ h~ ~ ~. A ~on ~ ~ a .m~ =x~m~,~, ,,,~, ,,,= -,= ,~,,,, ~,-~ J~ 140f~ 4, P~ O~ ~e S~te~m of B~ was ~ after July I, 1991 ~st s~ ~ CF- 1 ~ ~ ~ ~ ~ ~e ~ ot Name ot taxpayer P.G.P., Inc., d/b/a Voss Clark ~:tress of taxpayer (street anc~ nun~er, c~ty, sta~ and ZIP code) Clark Maritime Centre, 701 Loop Road, Jeffersonville, IN 47130 P. Michael Voss Jeffersonville City Council Loc~aon ~ m~omly Coun~ ~]~k Maritime Centre, Jeffersonville Clark Construction of additional metal processing building and hot roll steel equi[~ment purchase and installation Te~=~.~,~,~ numl~r (812 ) 283-7500 ~on nu,,~ 96-R- Jef fersonville ~/ // /96 Es~mama mm~ea0n a~e 9/ / / /99 C~ ~ 4 r 266 r 000 7 r 734 r 000 ~us esama~a vmu~ ~ _~X~ _ -_ _~_ m~e~ 2,200,000 3~100r000 N~ e~_'_.m~__m~_ v~ues u~ cam~m~, of ~fl~e~ b,4bb,UOO 10,834~000 )t auUlortzecl I hereoy ce~ that ~e repmsema~ns in m~ 8~emem ~re tree. T[lle IDa~ "~',~, ~',, ~,, ,~,, ~ay, yea,") aAl~and I~ave c~tarmined Mat the totali% ---" If fha design~ b~dy We have reVmwed our pnor ac~Jons relating to the designation of this economic revitalization area and find that the applicant meets the general standarcis asocial .i~ the resOl~ti0n p,reV~U, sl.y_ap~ p~r??~_ ~ this body. Said resolution, passes under lC 6-1.1-12.1-3.5, pro- rides for the following lim~at~s as aumonzea unoer lU u-1.3 -3 z.1 A. The designated ama bas been limited to a period of time not to exceed --- calendar yea~s · (see I~w). The date this dasignation expires is --- B. Tl~e lype of deduction that is allowed in the cteS~gnatad area is limited to: 1. Redevelopment or rehapilitatmn of real estate ~mprovemerns; [] Yes r-1 No 2. Installation of new rnanufactunng equipment:, r~ Yes [] No 3. Residentially distressea areas [] Yes [] No C. The amount of deduction applicable for new manufasturthg equipment installed and first claimed eligible for dedu~on after July 1, 1987, is limited to $ cost with an assassod value of $ D. The an'mum of deduction applicable to reaeveloomen! or rehabilitation in an area clee~gnated after September 1, 1988 is limited to .. $ ¢o~t with an aseeseecl value of $ E. Other limitations or conditions F. The deduction for new manufacturing equipment installed and first claimed eligible for deduction after July 1, 1991is allowed for: [] 5 years [] 10 years ~ we bare reviewed the information contained in the statement of benefits and find mat the estimates and expeclations are reason- f of benefits is sufficient to justify the der~uction described above. Clerk Telephone numOer tDate ~,~v~ [.~,~,, a~ay, ye~) (812) 284-6400 I ~'- / ~3 /96 0~ ~x~ Jeffersonville City Council limits tile time pe~3d during which an area is ~n economic ravffillzat~3n area. it does not limit the length of time a taxpayer is entitled to re(ewe a deduction to a number of years designated un, er lC 6.1.1 - 12. 1-4 or 4.5 Namely: (see tables below) Yeaz of Deducbon 5th 7th Plve (S) Year 100% 55% 500/0 Ten(l~YMr 85% 8~/o 70% 55% 40% 30% 25% 1st 2nd 3~1 4th 5th 7th 100% 85% 66% 5O% 34% 17% 100% 95% 80% 65% 50% 40% 30% 20% 10% 5%