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HomeMy WebLinkAbout2022-R-11 Resolution Approving Statement of Benefits for Proposed Personal Property Tax Abatement (Cyberdone America, LLC) BEFORE THE COMMON COUNCIL FOR THE CITY OF JEFFERSONVILLE INDIANA RESOLUTION NO. 2022-R- d 1 RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PROPOSED PERSONAL PROPERTY TAX ABATEMENT WHEREAS, Cyberdome America, LLC petitioned the Common Council of the City of Jeffersonville, Indiana, for a deduction in personal property taxes to be assessed on a proposed hardware, software equipment for development of Cyber Operations to be generally located at 1804/1806 East 10th Street located in the City of Jeffersonville, Clark County, Indiana; and WHEREAS, Cyberdome America, LLC has submitted a Statement of Benefits on the form prescribed by the Indiana State Board of Tax Commissioners for personal property, which statement includes a description of the proposed development,the number of individuals who will be employed as a result of the development, and an estimate of the value of the equipment needed for the development; and WHEREAS,the Common Council of the City of Jeffersonville has previously determined that the area in which the proposed development project is located in the City of Jeffersonville qualifies as an economic revitalization area pursuant to Indiana Code 6-1.1-12.1-5, et seq.; and WHEREAS,the Redevelopment Commission of the City of Jeffersonville has made a favorable recommendation for approval of the Statement of Benefits for personal property; and WHEREAS,the Common Council of the City of Jeffersonville has reviewed the Statement of Benefits and its.attachment "A" submitted herein, and attaches and incorporates the Statement of Benefits submitted herein, and attaches and incorporates the attachment"A" to this Resolution. 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 value of the qualifying personal property-IT equipment of $4,250,000.00 is reasonable for projects of the nature described in the Statement of Benefits submitted by the company. 2. That the estimate of the number of 390 individuals who will be added can reasonably be expected to result from the proposed described development. 3. That the taxes lessened from the granting of this abatement shall be for improvements in personal property up to the value of$4,250,000.000. 4. That all other information requested from Cyberdome America, LLC has been submitted, and the benefits described in such information can be reasonably expected to result from the proposed described development. 5. That the totality of benefits for said development is sufficient to justify the deduction. 6. That Cyberdome America, LLC has agreed to payment of a fee of 10% of the annual benefit of the abatement of the Jeffersonville City Council annually as described in I.C. 6-1.1- 12.1-14. 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 Cyberdome America,LLC, and that said company shall be entitled to deduction for a period of FIVE (5)years for improvements to personal property pursuant to provisions of I.C. 6-1.1-12.1-3(d),with the timely filing and perfection thereof with the Clark County Auditor's and Clark County Assessor's office. This Resolution shall be in full force and effect from and after its passage and approval. Passed this /q day of 2022. VOTED FOR: VOTED AGAINST: to-cord I I 0/1,-,& Passed and adopted by the Common Council of the City of Jeffersonville, Clark County, Indiana on this 19 day of` •1, , 2022. , Cou cil Pres, nt SCE, M2 Attest: A'&‘g sa Gill, Clerk Presented by me as Clerk to the Mayor of said City of Jeffersonville this�d day of 2022. ,4j4/ Lisa Gill, Clerk This Resolution approved and signed by me thid6 day of , 022. i e Moore, M yor This Resolution vetoed by me this day of , 2022. Mike Moore, Mayor ATTACHMENT TO THE STATEMENT OF BENEFITS FOR CYBERDOME AMERICA, LLC , 2022 The Council will grant a 5-year abatement on$4,250,000.00 in personal property as allowed by state statute. The Company will provide jobs and salaries as specified in the SB-1 and any attachment thereto. It is the expectation of the Council that the company will reach the number of employees and average wages specified on the SB-1 within five years. The Company understands this abatement is being offered based upon those jobs and wages. If the company fails to substantially reach those numbers or fails to maintain those numbers over the life of the abatement,the Council may, as provided by law, rescind this abatement. The Company agrees to make available any and all information the Council deems necessary to verify compliance. The Company agrees to pay an annual fee of 10% as described in Indiana Code 6-1.1-12.1-14. CYBERDOME AMERICA, LLC By: Printed: �{ AS ` O/ *TEC— Title: � I `ySu %tsk !\±--) C Abatement Schedule Exhibit Personal Property Year Abatement Percentage 1 100% exempt 2 80% exempt 3 60% exempt 4 40% exempt 5 20% exempt 6 0% exempt BEFORE THE JEFFERSONVILLE REDEVELOPMENT COMMISSION STATE OF INDIANA A RESOLUTION RECOMMENDING TO THE COMMON COUNCIL APPLICATION FOR TAX ABATEMENT FOR CYBERDOME AMERICA, LLC RESOLUTION NO. 2022-R-3 WHEREAS, Cyberdome America, LLC has made applications for personal property tax abatement from the City of Jeffersonville, Indiana; WHEREAS, the Common Council is the designating body for approving such applications; WHEREAS, said application requires review by the Jeffersonville Redevelopment Commission. NOW, THEREFORE, BE IT RESOLVED BY THE JEFFERSONVILLE REDEVELOPMENT COMMISSION THAT: 1. The Jeffersonville Redevelopment Commission has reviewed the attached "Statement of Benefits" for Personal Property; and 2. The Jeffersonville Redevelopment Commission hereby recommends to the Common Council the application for tax abatements for Cyberdome America, LLC Adopted at a meeting of the Jeffersonville Redevelopment Commission held the 31S` day of August, 2022. JEFFERSONVILLE REDEVELOPMENT COMMISSION 4 / d e, President ATTEST: ecretar I/2961557.1 "EXHIBIT A" GUIDELINES FOR CONSIDERATION OF PROPERTY TAX ABATEMENT JEFFERSONVILLE,INDIANA Projects will be considered for abatement only if: 1. The comps y/project meets ail of the criteria set forth under I.C.6-1.11-12.1 et seq in the form of deductions from assessed valuation. 2. The proposed new investment includes at least$1 million of real property and/or personal property that qualifies for tax abatement. 3. Constructi ip has not begun and/or equipment has not been ordered or the equipment will be new to the State of Indiana. 4. In addition,jif the applicant is not the company,authorization of the application must be obtained from the company. i (: .......�.,�.�1�:k +�s:,«;�•, i�:.�.:<.�:,'.-.r..�ABATEiVIENTgAP.,.....$5..1QN... . H:_.. .. . . g4 I 'ApplFcanName !Suresh Sharma I ion Datec ;_ 8/22/2022 faiiitiga.VaglielCyberdome America LLC. Street;pdd'r"_ess:Mi,l1804/1806 East 10th Street 4"'i Ci p Jeffersonville,IN 47130 ail one n ` ;!404-428-5999 Email sureshlsharma@gmail.com I ;Catri an Sane - " ;,._ �'1%.pti;� �`rest'.06t- fi.re,c'f1R ,..x :::.,..• Ii.di erenttr ro_ p' Meant` •`r` .Street►ddress? is la :Cjn/ tatelti.P r it =<i rS€N Niiiiiiiiiiiiritlitagnall :I. ':`:':"`:; ;`;: -:: ' "'::`:`- 1804-1806 East 10th Street ;Street igis►s of P_rssje.• t Location:,::; Ci•o5tafitijo :='• • ... gairfO Jeffersonville,IN,47130 II' Project D.,escription, s_;;...• This poled is centered or#tha business of training and BmpRiying next generation vocational workforce m a duatai world Wawa] focus on'tterxis.on Skills'IR cybersecurity,digital technologies,Innovative ritediW dtivtcos,and culling-edge healthcare Musky -Satutl0h5.There is an&Im rint need In the Southern Indiana region that raid bean al the forefront of old traditional 201I1 century manufacturing dui is now poised to catch up in its ckgilal transformation to 21 si century anten:noes. -Untodurlaloly,while the utdustry need in the USA for such vocational slips ere exponential(a gap of 3 million Jobs at 2022).the regular curriculum In our schools cotlegm Is largely ste l academic.Clearly,the world 11aS(Otte digital tar too rapidly t,ikewl9e.evert our -trade schools and conimurpy collages aro slid learning to respond to Ibis huge gap In workforce.it Is irnpcstani Id racagnrze that a -digital world needs cyborsecunfy to protect Used Irom hackers Mho are out to Bloat your identity,money,trade secrets,and competitive advantage).New compatenCies In digital technologies ere.es$ential for 21s1 century industries mete Will create higher -paying Jabs too,eapocia1ty rn the area of cybersecurity Industry 111 Wu need to train and employ an entire generation el prolossionals from It.-12.Trade Schools'and Technical Colleges in just the first years we expect to invest approximately b00,000 into the community via our incurred training cost. 111 Page 1 of 8 1I1 Effective as of 10-26-15 I i PROJEcT.COMPOS TION: (6 points possible). if more than one scenario applies,use only the scenario with thehighest point value. POINTS Personal Property linprovements 2 Real Property Improvements 4 Personal Property and Real Property Improvements 6 SCORE 6 ACTIVITY DETAIL: (f18 points possible). If more than one scenario applies,use only the scenario with the highest point value. POINTS Existing Facility—new office addition 6 Existing Facility—expanding or upgrading existing product 8 line Existing Facility—adding new product line 10 Existing Facility—addition of manufacturing and 12 warehousing space l' New Industrial(manufacturing),Warehousing or Logistics 14 Facility New Corporate Regional Office or Headquarters Building 16 New Research&Development Facility - 18 SCORE 16 EXISTING VACANT STRUCTURE: (15 points possible). Will this project reactivate a facility that has been vacant for at least 12 months? POINTS Location will NOT reactivate a vacant facility 0 Location WILL reactivate a vacant facility 15 SCORE 15 PROJECT CAPITAL INVESTMENT: (25 points possible). What is the total capital investment for this project? Use onl the applicable scenario with the highest point value. POINTS $1 million—$4,999,999 10 $5 million—$9,999,999 15 $10 million—$19,999,999 20 $20 million or more;I 25 SCORE 15 • Page 2 of 8 I• Effective as of 10-26-15 JOB RETENTION: (18 points possible). How many full-time positions will be retained as a result of this project? Use only the applicable scenario with the highest point value. POINTS 1—9 retained jobs 2 10—19 retained jobs 4 20-29 retained jobs 6 30-49 retained jobs 8 50—99 retained jobs 10 100—249 retained;jobs 14 250-499 retained;jobs 16 500 or more retained jobs 18 SCORE NEW JOB CREATION: (18 points possible). How many net new full-time positions will be created as a result of this project? Use only the applicable scenario with the highest point value. 1. POINTS 1-9newjobs I 2 • 10—19 new jobs 4 20-29 new jobs ; 6 30-49 new jobs 8 50—99 new jobs 10 100-249 new jobs 14 250—499 new jobs 16 500 or more new jobs 18 SCORE 16 AVERAGE WAGE: (18 points possible). Utilizing the average wage of all full-time positions for this project and using the current state minimum wage as a benchmark,how does the average wage of this project compare to the current minimum wage? Use onl the applicable scenario with the highest point value. POINTS Less than 3 times ctj;rent minimum wage 0 3 times current minimum wage 10 3.5 times current mi1himum wage 12 • 4 times current minimum wage 14 4.5 times current minimum wage 16 5 times current minijnum wage(or higher) 18 SCORE 18 1 Page 3 of 8 Effective as of 10-26.15 • • EMPLOYER-SPONSORED HEALTH AND WELLNESS BENEFITS: (5 points possible). Will the company provide employer-sponsored health and wellness benefits at this location? POINTS Location will NOT provide employer-sponsored health and 0 wellness benefits atthis location Location WILL provitle employer-sponsored health and 5 wellness benefits athis location SCORE 5 WORKPLACE WELLNESS: (5 points possible). Will the company encourage and promote workplace wellnessithrough employee participation in exercise and healthy living programs? ; - II! POINTS Company will NOT promote workplace wellness through • employee participation in exercise and healthy living 0 programs Company WILL protOote workplace wellness through employee participation in exercise and healthy living 5 programs 111 is 1 SCORE 5 EMPLOYER-SPONSORED RETIREMENT PLAN: (5 points possible). Will the company provide an employeir sponsored retirement plan at this location? • 1! POINTS Company will NOT provide an employer-sponsored 0 retirement plan at this location Company WILL provide an employer-sponsored 5 retirement plan at this location • SCORE 5 • BENEFITS PACKAGE?(8 points possible). What percentage of your employees'total compensation packs a are fringe benefits? Use only,the applicable scenario with the highest point valuer • POINTS • 0% 11 0 1-10% III 2 11-15% 'l; 4 16-20% II( 6 21—30%or higher II':, 8 • • SCORE 6 II • Page 4 of 8 I Effective as of 10-26-15 is . DIVERSITY: (7 points possible). Will the company have a diversity and inclusion policy in effect at this location? - POINTS Company will NOT have a diversity and inclusion policy at 0 this location Company WILL have a diversity and inclusion policy at this 7 location SCORE GREEN TECHNOLOGY: (7 points possible). Will the company utilize green technology at this location? Please provide a description of all green technologies to be utilized at this location here: POINTS Company will NOT utilize green technology at this 0 location Company WILL utilise green technology at this location 7 SCORE GREEN INITIATIVESIAND SUSTAINABILITY ACTIVITIES: (7 points possible). Will the company implemenylprograms designed to support sustainability through employee ride sharing,public transportation use,on-campus dining options or other initiatives? Please provide a description of all green initiative programs to be utilized at this location here: '1 !I! • !!' POINTS Location will NOT irrjplement green initiative programs 0 Location WILL utllizelgreen Initiative programs 7 SCORE I• • • Page 5 of B Effective as of 10-26-15 COMMUNITY INVOLVEMENT: (5 points possible). The City of Jeffersonville.will look • _ favorably on camp4nies that are involved in the community. The city will consider post and/or current community Involvement of an existing company or proposed community involvement of a new company. Community Involvement may include projeics associated with the city,schools,local non-profit organizations,senior citizens,disadvantaged • individuals or groups,day cares,etc. Community involvement must be documented and applicable documents attached to this Score Sheet. . Please provide a narrative of community involvement here: POINTS Location will NOT be supporting projects associated with the city,schools,local non-profit organizations,senior 0 citizens,disadvantaged individuals or groups,day cares, etc. Location WILL be supporting projects associated with the city,schools,local non-profit organizations,senior 5 citizens,disadvantaged individuals or groups,day cares, etc. SCORE 5 TOTAL PROJECT SCORE: Please add all above scores together and provide the total below TOTAL OF ALL ABOVE SCORES 114 SIGNATURES S griatu'relof Appl cant _= Date;:.4 �iii4:3Stii'. -_••)::' ::IitYt.n,,ri :..j i _...n_..... :.. print Name:: ..,:,.Signa e of'Com an` tu 4r tiRepreseirtative r-! f ate:= 8/22 F''.�ZKs � � I•::ti'�,' �I '�.• '(f dlffej ertt froRis. p�_ (1? ": ::.: Jim Ashby ,I Page 6 of 8 Effective as of 10-26-15 !DELINE.FORREALPROPERTYTAXABATEMENT;•::•.:•i; •GU TOTAL SCORE • Abatement Year Abatement Percentage 1—9 1 100% 10-19 Ii, 1 100% !I; 2 75% 20-29 1 100% III 2 75% r III 3 25% 30-39 'I 1 100% 2 90% 3 75% 4 60% 40-49 1 100% 2 90% 3 75% 4 60% 5 45% 50-59 i.- 1 100% 2 90% 3 75% ; 4 60% II 5 45% il; 6 35% 60—69 1 100% 2 90% 3 75% 4 60% 5 45% 6 35% 7 25% 70—79 1 100% 2 90% 3 75% 4 60% 5 45% 6 35% 7 25% 8 15% 80-89 ,I 1 100% 2 90% 3 75% 4 60% 5 45% 6 35% 7 25% 8 15% 9 10% Page 7 of 8 Effective as of 10-26-15 90—99 1 100% 2 90% 1; 3 75% • 4 60% 5 45% 6 35% 11 7 25% 111 8 15% 9 10% III 10 5% : • •••• •••••• " • 100+ 111 • 1 100% II I 2 95% In 3 80% 111 4 65% in 5 50% In 6 40% 7 30% • 8 20% I, 9 10% III 10 5% . .r.......•. ..•.„ •• •• •PROPERTY••••;•••••• •,••••••••—•• • . . GUI&ELINE FOR PERSONAL TAX ABATEMENT TOTAL SCORE ! Abatement Year Abatement Percentage 1-39 III 1 100% 40—59 11 i 1 100% 111 2 50% 60-79 111 1 100% 111 2 50% III 3 40% -'•'-;•••• . • 80—90 11; 1 100% 111 2 5096 111 3 40% .11 4 20% 90+ 11! 100% ii 2 80% 111 3 40% 11 1 '4 20% 111 5 10% .1 1 1 Page 8 of 8 Effective as of 10-26-15