HomeMy WebLinkAbout1996-R-10 SOLUTmN NO.
RESOLUTION APPROVING STATEPlEI~f OF BEITEFITS FOR
PURPOSES OF PROPERTY TAX ABATEFIENT
WHEREAS, Wyandot, Inc., has petitioned the Common Council of
the City of Jeffersonville, Indiana, for a deduction in real
property taxes to be assessed on proposed real estate improvements
to its manufacturing facility located in the City of
Jeffersonville, Clark County, Indiana; and
WHEREAS, Wyandot, 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
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-25; and
WHEREAS, the Common Council has reviewed the Statement of
Benefits submitted herein, and attaches and incorporates that
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
rehabilitation is
described in the
developer.
2. That the estimate of the number of
employed or whose employment will be
of the value of the redevelopment or
reasonable for projects of the nature
Statement of Benefits submitted by the
individuals who 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 Wyandot, 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, Indiana, hereby approves the application for
deduction presented by the Statement of Benefits filed by Wyandot,
Inc., and that said employer shall be entitled to deductions for a
period of ten (10) years for improvements to real property,
pursuant to I.C. 6-1.1-12.1-4(d)(3), with the timely filing 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, Clark
County, Indiana. ~
PreSident, Common Council
ATTEST:
~_-~:~r~'~ie~hardsSpencers' Jr. ~/ '
Presented by me as Clerk-Treasurer to the Mayor of the City of
Jeffersonville, Indiana, this ~ day of ~, 1996.
Approved and
1996.
signed by me this ~ day of
WYANDOT REMOLU~ON
~ STATEMEHT'OF BENEFITS FORM
SB:- 1
~...~ FoemSB*t is ~bythe St~! Bo~d ~fTax Commis.~ofte~. 19~
~I ~7 a~ am~ ~ a~ July 1, 1987 r~ a S TA~ OF B~EPI ] ~; (lC ~ I. 1 12. I)
~ r~ ~m ~e ~ a~c ~ ~ ERA / PP must ~ fil~ ~n ~ ~ .a~ ~y ,a ~
J~ 14 of ~ ~
4. p~o~S~te~of~was~a~erJuly I, 1991 mu~s~m~CF- 1
~s. (IC~I;~-~.6)
Name ot ~xpayer
Wyandot, Inc.
A~:~ress ot taxpayer (s~eet an~ numOer, city. sma~ anc~ ZIP co~e)
125 Peacely Street, Jeffersonville,
Indiana 471 30
Don Mount
.City of Jeffersonville Common Council
L~ca~on ~ ~ooe~Y 30 ~ark
125 Peacely St., Jeffersonville, IN 471
~ ot real property imgrovements ~ / or ~ m~ ~ui~,~,i to ~ ~u~ (u~ ~;~
Cons~:uc~iO~ oE improvements [o :eaZ es[ale a~ 24,000
Te~e~,,,e number
96-R-
Ta~ng ~
Jef fersonville
4/1/96
12/31/98
Current numOer Sataries Number retaineci Salaries Nu,,.~ ~-~ S,,~=a
184 5,938,300 40 1 r290r000 25 800,000 .
~us ~=;...~ v~ueso~T_-~-:._=_~_ ~;~ 525,000 I r 500,000
Net ~,,m~ valu~ uaon cor,~ minn at l~m;ect 'f
I hemOy certiiy that ~e re~xesentalions in this statement are m~e.
T~ice President IDam'~''~'h''''''~''~ay'year)
C ~---'~$- Jeffersonville ~iv. ~ / /~ /96
~ng to the cleslgnation of this economIc revitalization area ami find that the appiicam meetS the
We ha · · ~
rides/or the following limitations as authgnze~ unoer ,~, o- · - . · :~. - -~
A. The designated area has been limite~ tc~"~'~edod of time not to exceed -- - calendar years * (see below). The date this
de~gnatlon expires is .....
B. The tTpe of deduction that is allowed in the designated area is limited to: 1. Redevaloomen! ol rebaDilitatlon of real estate improvements;
2. Installation ot new manufacturing equipment;
~]Yes r-lNo
:El Yes DNo
3. Residentially dis~'essed areas [] Yes :~ No
C. The amount of deduction appiicabis for new manufacturing eouiomem installed and first claimed eligible for deducaon 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 efter September 1, 1988 is limited to
$ 525,000 . cost with an assessed value of $
E. Other limitations or conditions (spec~y)
F. The deduction 1or new manufacturing equipment installed snd first claimed eligible for deduction after July 1, 1991is allowed for:
~ 5 years ~ 10 yearn
Also we have rewewed the nformat on contatneci in the statement ot benefits and find that the estimates anci expectations are reason-
benef ts s surf cient to ustiiy the deduction ctescribed above.
al~anci have ~=i.=.T, ined that the totality of Date s~gneci (,,,~,~. ~ay. year)
~,~A,~. /=nnatur~ ~ tn~Ot aufi,~,~ men,oar) Tek~ne numl:)er
~ ~~ ~ Clerk-Treasurer jeffersonville City Council
· fin which an area is an economic revitiliz~tion area. it does not limit the length of time
· e desionat na body I mits the hme Denod du g - - ~ · ......... -,~- ,~" ~-~ -12 1-4 or 4 5 Namely: (see tables below)
'-- Ifa t~a~xpay~ is entitled to receive a ded_u~inn to a number o, years aes gn~,~'u u. ........ 1 . . ....
10m
six (6) "1 Ten (10) Year
1St 100/* 100% 100'/*
2nd 66% ~5%
~ 33% 66% 80/*
4~
5ffi
7~