HomeMy WebLinkAbout5052-23 Declaratory Resolution: Personal Property Tax Abatement Petition for Imagineering Enterprises, Inc. FJ-7:-. STATEMENT OF BENEFITS FORM SB-1 /PP
;;%4'' z1 PERSONAL PROPERTY
c', '.!)t State Form 51764(R5/1-21) PRIVACY NOTICE
``,,;--.'' Prescribed by the Department of Local Government Finance Any information concerning the cost
of the property and specific salaries paid
to individual employees by the property
owner is confidential per IC 6-1.1-12.1-5.1.
INSTRUCTIONS:
1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body requires
information from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise this statement must be
submitted to the designating body BEFORE a person installs the new manufacturing equipment and/or research and development equipment,and/or
logistical distribution equipment and/or information technology equipment for which the person wishes to claim a deduction.
2. The statement of benefits form must be submitted to the designating body and the area designated an economic revitalization area before the installation of
qualifying abatable equipment for which the person desires to claim a deduction.
3. To obtain a deduction,a person must file a certified deduction schedule with the person's personal property return on a certified deduction schedule
(Form 103-ERA)with the township assessor of the township where the property is situated or with the county assessor if them is no township assessor for
the township. The 103-ERA must be filed between January 1 and May 15 of the assessment year in which new manufacturing equipment and/or research
and development equipment and/or logistical distribution equipment and/or information technology equipment is installed and fully functional,unless a filing
extension has been obtained. A person who obtains a filing extension must file the form between January 1 and the extended due date of that year.
4. Property owners whose Statement of Benefits was approved,must submit Form CF-1/PP annually to show compliance with the Statement of Benefits.
(IC 6-1.1-12.1-5.6)
5. For a Form SB-1/PP that is approved after June 30,2013,the designating body is required to establish an abatement schedule for each deduction allowed.
Fora Form SB-1/PP that is approved prior to July 1,2013,the abatement schedule approved by the designating body remains in effect. (IC 6-1.1-12.1-17)
SECTION 1 TAXPAYER INFORMATION
Name of taxpayer Name of contact person
Imagineering Enterprises, Inc. First.amc: Lauren t.astName: Eby
Address of taxpayer Telephone number Email
Number and Street: 3722 Foundation Court c,,: South Bend State IN zip_46628 leby@iftww,com
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT
Name of designating body Resolution number(s)
Common Council of the City of South Bend
Location of property I County DLGF taxing district number
Number arid srr«c 1302 W Sample Street u;ry:South Bend Slate.IN zip.46619 St. Joseph 026(South Bend-Portage)
Description of manufacturing equipment and/or research and development equipment ESTIMATED
and/or logistical distribution equipment and/or information technology equipment. START DATE COMPLETION DATE
(Use additional sheets if necessary.)
Our investment in equipment will consist of tanks for Manufacturing Equipment 11/15/2023 12/29/2023
processing, hoists, ventilation, plumbing upgrades, boiler, R&D Equipment
ect. Logist Dist Equipment
IT Equipment
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT
Current Number Salaries Number Retained Salaries Number Additional Salaries
45 $2,018,494 45 $ 201,844 10 $427,600
SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT
NOTE:Pursuant to IC 6-1.1-12.1-5.1 (d)(2)the MANUFACTURING R&O EQUIPMENT LOGIST DIST IT EQUIPMENT
EQUIPMENT EQUIPMENT
COST of the property is confidential. COST ASSESSED COST ASSESSED COST ASSESSED COST ASSESSED
VALUE VALUE VALUE VALUE
Current values
Plus estimated values of proposed project S 2,631,500 $2,631,500
Less values of any property being replaced
Net estimated values upon completion of project $2,631,500 $2,631,500 $0 $0 $0 $0 $0 $0
SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER
Estimated solid waste converted(pounds) Estimated hazardous waste converted(pounds)
Other benefits:
SECTION 6 TAXPAYER CERTIFICATION
I hereby certify that the representations in this statement are true.
Signature of authonzed representative Date signed(month,day,year)
1-41,1 tQ,sr- 8/28/2023
Printed name of authorized reailesentative Pie
Lauren Eby Controller
Page 1 of 2
FOR USE OF THE DESIGNATING BODY
We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the general standards
adopted in the resolution previously approved by this body. Said resolution, passed under IC 6-1.1-12.1-2.5, provides for the following limitations as
authorized under IC 6-1.1-12.1-2.
A. The designated area has been limited to a period of time not to exceed N/A calendar years"(see below). The date this designation expires
is 12/31/2026 NOTE:This question addresses whether the resolution contains an expiration date for the designated area.
B. The type of deduction that is allowed in the designated area is limited to:
1 . Installation of new manufacturing equipment; ®Yes ❑No ❑ Enhanced Abatement per IC 6-1.1-12.1-18
2. Installation of new research and development equipment; ❑Yes ®No Check box if an enhanced abatement was
approved for one or more of these types.
3. Installation of new logistical distribution equipment. ❑Yes ®No
4. Installation of new information technology equipment; ❑Yes ®No
C.The amount of deduction applicable to new manufacturing equipment is limited to$ N/A cost with an assessed value of
$ N/A . (One or both lines maybe filled out to establish a limit,if desired.)
D.The amount of deduction applicable to new research and development equipment is limited to S N/A cost with an assessed value of
$ N/A . (One or both lines may be filled out to establish a limit,if desired)
E.The amount of deduction applicable to new logistical distribution equipment is limited to$ N/A cost with an assessed value of
$ N/A . (One or both lines maybe filled out to establish a limit,if desired.)
F. The amount of deduction applicable to new information technology equipment is limited to$ N/A cost with an assessed value of
$ N/A . (One or both lines may be filled out to establish a limit,if desired.)
G. Other limitations or conditions(specify) N/A
H. The deduction for new manufacturing equipment and/or new research and development equipment and/or new logistical distribution equipment and/or
new information technology equipment installed and first claimed eligible for deduction is allowed for:
❑ Year 1 ❑ Year 2 ❑ Year 3 ❑ Year 4 k] Year 5 ❑Enhanced Abatement per IC 6-1.1-12.1-18
Number of years approved:
E Year 6 ❑ Year 7 ❑ Year 8 ❑ Year 9 ❑ Year 10 (Enter one to twenty(1-20)years;may not
exceed twenty(20)years.)
I. For a Statement of Benefits approved after June 30,2013,did this designating body adopt an abatement schedule per IC 6-1.1-12.1-17? ❑Yes [No
If yes,attach a copy of the abatement schedule to this form.
If no,the designating body is required to establish an abatement schedule before the deduction can be determined.
Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have
determined that the totality of benefits is sufficient to justify the deduction described.above.
App v b .(sign and Me of authorized member of designating body) Telephone number Date signed(month,day,year)
i-ll ( s�y) .23 5 -9321 9/ZSlr 3
Prin me of au zed member designating body
iName of designating body
� i^vh 1'VI e 6Common Council of the City of South Bend, IN
A �ure and ttt f attester) Printed name of attester
"If the designating body limits the a period during which an area is an economic revitalization area,that limitation does not limit the length of time a
taxpayer is entitled to receive a deduction to a number of years that is less than the number of years designated under IC 6-1.1-12.1-17.
IC 6-1.1-12.1-17
Abatement schedules
Sec.17. (a)A designating body may provide to a business that is established in or relocated to a revitalization area and that receives a deduction under
section 4 or 4.5 of this chapter an abatement schedule based on the following factors:
(1) The total amount of the taxpayer's investment in real and personal property.
(2) The number of new full-time equivalent jobs created.
(3) The average wage of the new employees compared to the state minimum wage.
(4) The infrastructure requirements for the taxpayer's investment.
(b)This subsection applies to a statement of benefits approved after June 30,2013. A designating body shall establish an abatement schedule
for each deduction allowed under this chapter. An abatement schedule must specify the percentage amount of the deduction for each year of the
deduction.Except as provided in IC 6-1.1-12.1-18,an abatement schedule may not exceed ten(10)years.
(c)An abatement schedule approved for a particular taxpayer before July 1,2013,remains in effect until the abatement schedule expires under
the terms of the resolution approving the taxpayer's statement of benefits.
Page 2 of 2