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Home My WebLink About1989-R-44 RESOLUTION NO. 89-R- ~ RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT WHEREAS, Jesse Ballew has petitioned the Common Council for processing a tax abatement for improvements to be made at Mitchell Avenue and Stansifer Avenue in the City of jeffersonville, and has submitted a Statement of Benefits on the form prescribed by the Indiana State Board of Tax Commissioners for such purpose; and WHEREAS, the Common Council of the City of Jeffersonville has' previously determined that the area bounded by Mitchell Avenue on °~he East, by Fourteenth Street on the South, by the City Boundary on the West, and by Kopp Avenue on the North, in the City of Jeffersonville qualifies as an economic revitalization area pursuant to Indiana Code 6-1.1-12.1 et seq. NOW, THEREFORE, BE iT RESOLVED by the Common Council of the City of 3effersonville that it specifically finds as follows: 1. That the estimate of the value of the redevelopment and 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 employed or whose employment will be retained can proposed reasonably be expected to result from the described redevelopment or rehabilitation. That the estimate of the annual salaries of those who will be employed or w~se employmen5 will can be reasonably expected to result from the individuals be retained proposed described redevelopment or rehabilitation. That all other information requested by the developer has been submitted, and the benefits described in such information can be reasonably expected to result from the proposed described redevelopment or rehabilitation. That the totality of benefits for said redevelopment or rehabilitation is sufficient to justify the deduction. Be it further resolved th.at the Commo~ Council of the City of jeffersonville hereby approves the application for deduction presented and that period of commencing Clark County Auditor's office. Passed and adopted this 1989, by the Common Council by the Statement of Benefits filed by Jesse Ballew said developer shall be entitled to deductions for a ten (10) years for improvements to real property with the filing and perfection thereof with the /_day of ~=~, of the City of jeffersonville, Clark County, Indiana. HARROD PRESIDENT, COMMON cOUNCIL ATTEST: Presented by me as City of jeffersonville, ~)~, , 1989. Approved and signed '~'~.-o ,, 1989- Clerk-Treasurer to the Mayor of the Indiana, this /~ day of ~. RItHARD SPENCER~'~ CLERK-TREASURER by ,ne this /& day of MAYOR DALE L. OREM STATEMENT OF BENEFITS State Form 27167 (R 211-89) Form SB.I Is prescribed by the Sta. t?Boa~d of Tax Commissioners (1989) Confidential Statement: The records In th~s ~etles are CONFIDENTIAL according to Indiana Code 6.1.1-35-9. INSTRUCTIONS: (I.C. 6.1.1-12.1) THIS PAGE TO BE COMPLETED BY APPLICANT I. This st~tement mu~t be subm~tted t~ the b~d~ designafing the ec~n~mic re¥ifi~zaN~n area pri~r t~ the pub~ic he~ring required t~ designate an economic revitalization area, or 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. A statement of benefits is not required if the area was designated an ERA prior to July 1, 1987 and the "project" was planned and committed to by the applicant, and approved by the designating body, prior to tibet date. "Projects" planned or committed to after July 1, 1987 and areas designated aNer July I, lg87 require a Statement of Benefits. 2 ~fapers~nisrequestingthedesignat~~n~fanec~nom~~revita~lzafi~n~rea~thi~f~rmmustbesu~mittedpri~rt~thepub~ichear- ~ng required under lC 6-1~Io12.1-2.5 (c), Otherwise, the Statement of Benefits must he suDmttteq for the designating body's ap- croval prior to the installation of the new manufacturing equipment or prior to redevelopment or rehabilitation of real property. 3. Approval of the qesignafing body (City Council. Town Board, County Council. etcJ must be obtaineq prior to initiation of the redevelooment or rahab)lite tlon. orprtor fo installation of the new manufacturing equipment. BEFORE a deduction may De approv. 4. To obtain a deduction Form 322 ERA, Real Estate Improvements end / or Form 322 ERA ~ PP, New Machinery, must be filed with me 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 assessmem is received from the township assessor. Form 322 ERA / PP must be filed between March 1 and May 15 of the assessment year in which new manufacturing equipment Is installed~ unless a filing extention has been obtained. A person who obtains a filing extent)on must file the form between March I and June 14 of that year. STATE BOARD OF TAX COMMISSIONERS J lName of oe~;;mgo;O(;effel, son~rllle c°U;;ark Hame of Taxpayer Jesse _m~l law /,ddress of Taxpayer (Street, city, county) ~816 Hambu~g,P/ke Jeffersonv~lte, In-,;!;', SECTION I LOCATION, COST AND DESCRIPTION OF PROPOSED PROJECT. ~=. - -- ~rooerty il different from aoove Taxing District i l;chell & Stanisfer Ave Jeffersonville In Jeff City In ~on ant date of real ~roper~y improvements and I or estimated instal~atioh ot new manufacturing eclmpment to be acqu~rea: OL'fice Bui!d:l.r~ ~lntehed 12/10/89 Estimateq Starting Date Estimate Completron Date IAttach additional sheets if needed) 12/10/89 ~ lea;e~er, on 0.0 Weekly REAL ESTATE IMPROVEMENTS MACHINERY COST ASSESSED VALUE COST ASSESSED VALUi urrent Values lus estimated values of proposed project ess: Values of any property being replaced [et estimated values upon completion of project SECTION IV OTHER INFORMATION REQUIRED BY THEDESIGNATING BODY (~ate of Signature Te~eDt~one Number ~') ~ ~./_:,~ .'/~c £Jt.') / P--/0- _~ ~ "~ ~ ~'--" ~ ~' ~' We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets 1he general standards adopted in the resolution previously approved by this body. Said resolution, passed under lC 6-1.1-12.1-2,5, provides for the following limitations as authorized under lC 6-1.1-12.1.2: The designated area has been limited to a ~3eriod of time not to excee(l years, '(See Below) B) The Type of deduction that is allowed ~n the desLqnated area is limited to: II Redevelopment or rehabilitation of real estate improvements. 2) Installation of hew manufacturing equipment calander [~Yes [] No Yes [~"~o 3) Residentia~ y distressed areas [~o Cl The amount of deduction applicable for new manufacturing equipment installed and first ctaimed eligible for deduction after July 1. 1987, is limited to $.. _ cost with an assessed value of $__ Di The amoun[ of de(~uction appiicabie to redevelopment or rehabilitation in an area ~esignated after September I. 1988 is limitec to $. .cost with an assessed value of $ El Other limdations or conditions: (spec/fy)... .Also we nave reviewed the information contain '/"~'easonable and have d,etermined ,h~ the totalitvednfi~,t~h.e,,s, ta!eme.n.,t of benefits and find that the eetima, ...... ~__~} j t t ' /J ........ ,I,, IS sutrlclent to justify the deduction ~_esorib~al~e.expectations are If the aesignattng body limits the time period during which an area is an economic revltilization area, it does not limit the length of time a taxpayer is entitled to receive a deduction to a numoer of years designated under I.C. 6~1.1-12.1-4 or 4.5 Namely: EW' MANUFACTURING _ __ __ EQUIPMENT VEMENT 1st 100~ntage _ .Percentage 2nd I o' fsi I 100°/o ~nn0/_ -- - ~ ~ 95 Yo 2nd I 660/ ~o ~u~ 100% ~rd 80% 3rd 33 Y, 66 Y0 80% 4th 65% 4th 5th 50% - 5th 50% 65% 0% 6th 34% 50% 7th 17% 40% 8th 30% 9th 20% 10th 10% 5%