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HomeMy WebLinkAbout2005-R-32-RESOLUTION NO:)_C 05-R- RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PURPOSES OF PROPERTY TAX ABATEMENT WHEREAS, WBW Real Estate LLC has petitioned the Common council of the City of Jeffersonville, Indiana, for a deduction in real property taxes to be assessed on proposed improvements to be made in the North Port Technology Park, located in the City of Jeffersonville, Clark County, Indiana; and WHEREAS, WBW Real Estate LLC has submitted a Statement of Benefits on the from prescribed by the Indian 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, and 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 the Statement 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 of the value of 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 employed or whose employment will be retained can reasonably be expected to result from the proposed described redevelOpment or rehabilitation. 3. That the esti~mate 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 WBW Real Estate LLC, 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 RESOVLVED, that the Common council of the City of Jeffersonville, Indiana, hereby approves the application for deduction presented by the Statement of Benefits filed by WBW Real Estate LLC 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-I.1-12-3(d) and I.C. 6-1.1-12.1-4(d)(3), commencing with the 2006 real estate taxes payable in 2007 for 93,000 square feet of office and manufacturing space located on Centennial Blvd., North Port Industrial Park, Jeffersonville, Indiana, with the timely filing and perfection thereof with the Clark County Auditor's office. Passed and adopted this ¥~ day of%o~t ~;'~c-, 200~Srb-~ the Common Council of the City of Jeffersonville, Clark County, I~ President, Common Council ATTEST: Peggy Wilder, Clerk-Treasurer Presented by me as Clerk-Treasurer to the Mayor of the City of Jeffersonville, Indiana, this ~-~ day of ~-~ ~'~ ,2005 Peggy ~3er, Clerk-Treasurer ????????????/~, Mayor 2005. BE IT FURTHER RESOLVED, that the Common Council of the City of Jeffersonville, Indiana, hereby reserves the right, pursuant to I.C. 6-1.1-12.1-5.~, to terminate the deduction in the event MedVenture fails to meet all other its obligations pursuant to the relocation inducement agreement with the City of Jeffersonville. STATEMENT OF BENEFITS Stale Fern127167 (R7112-01) SB - 1 marion from the applicant i_n_m_a_~n_g as oec/~,~.~5~..ut~w..,,.~,~,~,/~n°~al~t~ne~ .nuiemant and / or research and dave opment equipment, or u~r.U.~_~ ~ne. to the designating b~dy BEPof~.e a p. erson ~.~_~.,~:,_~ ,,,~..~,~rson wfshe~t~ ~i-~r~ a deduction "Projects"planned or committed to after July 1, lea! and redevelopment or rehabilitation o~ teal p~perrY~U.~w~JJ~,~'~;=~ n~' ~ ~ ~ ~ ~l * areas designated after July 1, t987 require a ~ ~_/4 ~ =ra_c~v, ,~ ~-~.,~.,.~ . ~.~_,_:,t.~2'~n,~*b~ obtained ~dor to initiation of the redevelopment Or rehabilitation. 2. A rovalofthedesignafingbcdy( ty . ,.~ ta~ lament BEFOREadeducttonmaybeapproved. ~fior to installation of the new manufactunng equipment and/or research and develop,,.~n. ~u ~ . To obtain a deduction. Form 322 ERA, Real Estate Improvements an.d / or Form 322 ~ / PPME ~nd / or .322 ERA / PPR & DE, ~ust .b~ filed wffh the Y - ssesso PPME a - prope~ty assessmenJ is tecolyed.~* *m the town~.~[P_,a.! .... ~;`~.~n~/ ~r resea~:h and de¥e~pmont equipment bec~mes assessab~e~ un~e~ ~*s ~ fi~ng extension has been obtained. A person who obtains a filing extension must file the form between March I and the extended due date o~ ~*na,' year. 4. Property owners whose Statemen of Benefits was approved afier June' 30, 1991 must submit Form CF- 1 annually to Show'compliance with the Statement of BenefitS. (IC6-1.1-12.1-5.6) ' 5. The schedulesestab~ished under lc 6~1*1-12*1-4(d) ~nd ~C 6~1.1-12*1~4*5 (e) e~ecfive Ju~1' 2~ app~y to any statement of benet7ts fi~ed ~n ~r afier July 1, 2000. ~rior to July 1, 2000 shall continue to apply'to those statement of benefits filed before. July 1, 2000. ~,ddress of taxpayer (street and number, city, state and ZiP code) Telephone number Name of ~n act pemon Resolution number Name of designating body Lo~Uon o~ prope~ , -- ~ ~ ~.]C~nty A ~ Taxing dis~ ~~ and /or ESTIMATED ~~nal sh~ lf n~s~ Star--ate Comp~eUon Date R&DE .... ~nt number Salafles Salades ~-- : Research and Development NOTE: Pu~uan~ to lC ~t.1-12.1-5-1 (d) (2) the Real Estate Impmvemen~ Machlne~ Equl ~ment COST of the pm~ ~s ~nfidentlaL Cost ~e~ed Value Cost Assessed Valu$ ~ Co=t ~s~sed Valu= ~sUmated solid waste ~veAed ~u~ds) Estimated hazardous waste ~n~Aed ~ounds) ~er benefit: I here~esenta~°ns in th~s statement am true. ;ign of authorized mpresenta~ve ST A.TEMENTOP BENEFITS Slate Form 271.67 (R7/12-01) Prescribed by the Department of Local Government Finance I F. O~MI SI3 . 1 INSTRUCT/ONS. 1. This statement must be submitted to the bodr desivnating the econOmic revitiliza(ion <;It~crp~ior to thE1 pub(tch??.riog iflhe designatingpoayrequires infor- mation from the applicant in. niaking itsdecisidnabout whether to.desivnate an EconCllTlicRIiw(talizationAre? ()tberwi~this statel11.f1nt must Pesyqmitted to the designating body SEFOREa person installs the new manufacturingequiplTlent?fid1or rlilsea.rch anddeve!epment IiIql1ipment, or .8EfQf!E the redevelopment or rep<;loilitationof realprOpe.rlYfor Whiqh the pe(son\li!ishes to claIm a deduction. "Ptojeots"ptanned or committed taafter July 1, 1987 and areas designated after JuJy 1,198'TtequFre a STATEMENT OF BENEFITS. (lC6-1.1-12.1)' 2. Approval of the designating body (City Council, Town f:joard, County Council, etc.)mustbeobtainlildpnorto i(titi'll/ol] of(/:)e redeveloPmeElt orrehabifltation, or prior to installation of the new manufacturing equipment and I or research and development equipment, f3SFOR1::aded.ucticm maybe approvlild. 3. To obtain a deductiOn, FOrm 322 ERA, Real Estate Imptbvemlilnts(;jl1d I or Form 322 EF<A If:5PN$ andlqr?~2. Et?A/PPR& DE, mustblil filed with the county auditor. VWth resplilct to real property. Form 322 ERA must be filed by the /?tw 9f: (1) May lQ; or (;2) thilty (30) r:/ays?fter ?nQtice ofincre?sein real property assessment is receivlild from the townshipasslilssor. . Form 322 ERA I PPMEand I 0(322 BRAPPR & DE rnulit beffled between March 1 and May 15 of the assessment year in which hew mqnufactwing IiIClOiprnentand I or res.s.a.rc.h and deVelopment equipment becomlils assessable,. unless a filing extension has been obtained. A person who obfaii1s a filing extension mustfile the formbetWelilh March 1 and the extended riue dat(il of/hat year, 4. Property owners whqse StalementofBenefits was approved after June 30, 1991 mustsubmitForm CF - 1 iilhnuallyto.s/iow cOril'plii3nce with the Statement of Benefits. (IC 6-1.1-12,1-5.6) 5. The sclte.dules established under IC 6-1. 1-12. 1 "4(d) and Ie 6'1.1-12.1-4.5 (e) effective July 1, 2000 apply to any statlilment of benefits filed on or after JUly 1, 2000. TIle schedqles effective prior to Jury 1, 2000 shall contin.ue to apply to those statement of behefits filed before July 1, ~lOOO. .,SECTIONl,">"" ,'-";",.<,:', ..;:....J, ;.' .',,,,.';;,'rc,.TAXPAYERINFORMATION -. . ":",' "...' '-',.,,',' ," '.:<;,':. Name ofta~ayer () W \0. ,,€cqa. \ Address of taxpayer (street and number, city, state and zrp code) S'"6 ~ ~ L \- c.. 333 $""\ .~f:>i.. \. t-J ~ \\l.E~J~~_, :S\.X'\"ftt County C .,L.-A.~ . nt arid I or Taxing district ~sTjMA'fEtJ $t~rtO<ltlil @()ITIp1e.tlotlP<lte Real Estate NewMfg EqUipment NjJTE: Pursuant to Ie 6"1.1-12.1-5.1 {dj (2) th~ COST ofthe property is confidential. QurrElht values PIOs estimated values of proposed proJlilct Less valulils of any property being teplac::e(j NeJesOm,!I~(j ya!lJe~"'P!lnCClr:\pIEl~qn ()f pr.pll'l.G! '. other benefits: ,SECTION6'-,:'.', ,u','- ';", ',' :-, ,TAXPAYERCERTlFICATlON '. '''... .', ,,',,_,. >' .' tesentEltibns in this statement at;e. true, Title Date signed (month, day; year) ~ 05 .. , ;". " , "~" ,',' ; . '. ;..'.:.,." ' . .", ,; . v' , . ': ": ',' .':' ,"~' ,: ..... '>';" : FOR USE 'oF THE'OESIGNAi-u.iG BODY ',:' :',,','. , ',>, " ',", ' < ~ . < < ,~ < , .." '. 0. , ' , ,~ ~ : ." ^ ,. . . ,', , .. . We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the general standards adopted in the resolution previously approved by this body. Said resolution, passed under IC 6-1.1-12.1-2.5, pro- vides for the following limitations as authorized under IC 6-1.1-12.1-2. A. The designated area has been limited to a period of time not to exceed calendar years * (see below). The date this designation expires is 8 . The type of deduction that is allowed in the designated area is limited to: 1 . Redevelopment or rehabilitation of real estate improvements; 0 Yes 0 No 2. Installation of new manufacturing equipment; 0 Yes 0 No 3. Installation of new research and development equipment; 0 Yes 0 No 4. Residentially distressed areas 0 Yes 0 No C . The amount of deduction applicable for redevelopment or rehabilitation is limited to $ cost with an assessed value of $ D . The amount of deduction applicable to new manufacturing equipment is limited to $ value of $ E. The amount of deduction applicable to new research and development equipment is limited to $ an assessed value of $ F. Other limitations or conditions (specify) Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reason- able and have determined that the totality of benefits is sufficient to justify the deduction described above. cost with an assessed cost with ApproVed: (signature and tme of authorized member) Telephone number Date signed (month, day, year) Designated body .. ~~ ~ * If the designating body limits the time period during which an area is an economic revitilization area, it does not limit the length of time a taxpayer is entitled to receive a deduction to a number of years designated under IC 6-1.1-12.1-4 or 4.5 . ..--......-....---------..-...---...---........... -... .- _. ---.-.. ..