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HomeMy WebLinkAbout1995-R-25RESOLUTION NO. 95-R- RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PURPOSES OF PROPERTY TAX ABATEMENT WHEREAS, Chemtrusion, Inc., has petitioned the Common Council of jeffersonville, Indiana, for a deduction in real property taxes to be assessed on proposed improvements to be made at the Clark Maritime Centre, located in the City of jeffersonville, Clark County, Indiana; and WHEREAS, Chemtrusion, Inc., has submitted a Statement of Benefits on the form prescribed by the Indiana State Board of Tax Commissioners 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 located in the City of jeffersonville revitalization area pursuant to Indiana and Resolution 89-R-32, and Confirming redevelopment project is qualifies as an economic Code 6-1.1-12.1 et seq., Resolution 89-R-39; and WHEREAS, the Common Benefits submitted Council has reviewed the Statement of herein, and attaches and incorporates that Statement to this Resolution. City NOW, THEREFORE, BE IT RESOLVED by the Common Council of the of jeffersonville, Indiana, that it specifically and affirmatively finds as follows: 1. That the estimate of the value of the redevelopment or reasonable for ~rojects of the nature Statement of Benefits submitted by the rehabilitation is described in the developer. That the estimate employed or whose be expected to of the number of individuals who will be employment will be retained can reasonably 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 Chemtrusion, Inc., 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 hereby approves the application for deduction presented by the Statement of Benefits filed by Chemtrusion, Inc., 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. 6-1.1-12.1-3(d) and I.C. 6-1.1-12.1-4(d)(3), and ten (10) years for equipment a~d machinery 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. Passed and adopted this ./~ .day of December, 1995, by the Common Councii of the City of jefferson~ille, Clark County, Indiana. ~resid~ Common Cou ATTEST: ~.Rich~rd Spencer, Jr. Clerk-Treasurer Presented by me as Clerk-Treasurer to the Mayor of the City of jeffersonville, Indiana, this day of December, 1995. ~, Ric~&rd Spencer, Jr. Clerk-Treasurer Approved and signed by me this day of December, 1995. ~ayo~ Raymond Parker FORM sB. STATEMENTOF BENEFITS State Fon'n 27167 (R3111-91) Form SB - 1 is presmibed by the State Boarci of T~x Commissioners, 19.8935.9 The records in thi~ ~ehes &re CONRDENTIAL ac=oMIng to lC 6-1.1 - INSTRUCTIONS: .... . .... .ization area ,~,~r to the public bear~ng i~ the desigoating bndy reguires i~r~f~?~ '/"':.:--*'-;-:~- ..... .; ".,..~- BEFORE a person installs the new manufacfunng eclu~pmenc, ut:.~.~_r~_,,.- ~:.~j G-~-~;...-~7~.~ =n ERA nrior to July 1, 1987 ancl ~e .......... r- · ' b the oes nau 'omiect" was otanned and commuted to t~y tbe applicant, @nd ap..p_W,~...v..~ ..,~ ,~ul~l. 1987 and areas designatad after JufY l, 1987requtrea~t,~lcM=w~ ~/r~=,.~- ....... --- · -.... .. . ,~nnmval of the designating tx~dy (City Council, Town Board, Coun~ Council, etc.) must be o~tain~ prfor to tnibation of the redevelopment or rehabilitation, 2. ~n-or to instaltallon of the new manufacturing e(lutPment, BEFORE a deduceon may pe approveo. 3. To obtain a deduction, Form 322 ERA, Real Estate Improvements and / or Form 322 ERA / PP, New Machineo', must be filed with the c~ur~y auditor. W'~h h later of' I Ma 10; or (2) thiriy (30) days after a notice of ino'ease in real property assessment Form 322 ERA must be filed b t e ' ( ). Y essmenI ear in which new manufac* respect fo real l3ropetP/, . petween March l and May15 of tl~e ass , Y - * m the townsl~tp assessor. Form 322 E)~ / PP must ~. fi~ed · ' n ton must file the form between March I and ~u~'nec~'V~uipf~;nt is .stalled, unless a filing extension has been obtained, A person who obtains a filing ex, es 4. prober~yownerswhoseStatementofBenefi~swasapprovedafterJuty 1, 1991 mustsubmitFormCF* 1 annuallytoshowcompliancewiththeStatomentof Benefits. (lC 6-I.1.12.1-5.6) ~tame of taxpayer Chemtrusion, Inc. ~axpayer (street and number, ci~ state and ZIP co~e) 7115 Clinton Drive, Houston, Texas 77020 Scott E. Owens, President Telephone number (713) 675-1 616 jeffersonville City Council ~robe~ ~u~ Clark Maritime Centre Clark ~ro~improvememsanglorn~ m~a~ng~ui~memto~a~uir~ ~ See attached statement 95-R-~ ffersonville 12/ 15 /95 Eslirnatecl completion date r additional ~ Current nun'mer iNumber retai~ 0 0 0 72 1 ,794,024 Value Net estimated values upon comDiet~n o~ Droject t he~ns in this statement are true. ..... ~ , of autttorizeci representative '= ...................... T~e I Date signeO (mordtl, ~ay, year) ........... , .... i*olizat~on area and find that the applicant~rn~ee~ts,,t,h,,e. We have renewed o~r p~r ~luti~ oreviously approved by thts ~dy. Sa~d resolutton, P standards aooptea In u~ gener~ ......... :-- lim~ations as author zed under I~ 6-1.1-12.1 2. ~len y A. The designated area has been lim~ to a pe~od of time not to exceed - 0 - dar ears * (see ~ow) The date this designation expires is ~o~e B. ~e ~ of dedu~ion that is altow~ in the designat~ area is limff~ to: 1. R~evelopment or reh~ili~tion of real estate improvements; ~ Yes ~ No 2. In~allafion of new manufa~udng equipment; ~ Yes ~ No 3. Residential~ distress~ areas ~ Yes ~ No C. The amount of d~u~ion app ~ble for new msnufa~uring equipment installed and first claim~ eligible for dedu~on after July 1, 1987, is limited to $ cost with an assessed value of $ D. The amount of deduction applicable to redevelopment or rehabilitation in an area designated after September 1,1988 is limff~ to $ ~ ,. cost with an assessea value o~ $ .' E. ~er limitations or cond~ions (spe~) E The dedu~ion ~or new manufacturing equipment installed and first claimea eligible for dedu~ion after July 1,1991is altowed ~ 5 years ~ 10 yearn ALso we hsve rewewed the information confined in the statement )f benef~s and find that the estimates and expe~tions are reason- a~e and have determin~ that t~e totality of benefits is sufficient to lusti~ the deduction describ~ above. · ' e ~ du~ ng wh ch an area s an ~nomm rev~ 4 5 Namel · lOttl Tim (10) Year Deduction 100% 95% 8O% 65% 50*/. 40*/0 3O% 2O'/0 10% 5% STATEMENT OF BENEFITS, FORM SB-1 REF: CHEMTRUSION, INC. Section 2: Location and Description of Proposed Project Description of real property improvements and/or new manufacturing equipment to be acquired: Purchase of a 15-acre site in Clark Maritime Center and the construction of a grass roots manufacturing and distribution operation designed to produce value added plastic materials. Facility design and site layout provide bays for six processing lines. Initial capital investment to include four (4) processing lines. Building size: 173,000 square feet. Building construction and conventional steel frame, pre-cast walls, built up roof.