|
`~``~^'-'A4 STATEMENT OF BENEFITS
<br />REAL ESTATE IMPROVEMENTS
<br />~i\- State Form 51766 (R2 / 1-07)
<br />"e~.._~%, Prescribed by the Department of Local Government Finance
<br />~•~.
<br />This statement is being completed for real property that qualifies under the following Indiana Code (check one box):
<br />x Redevelopment or rehabilitation of real estate improvements (IC 6-1.1-12.1-4)
<br />^ Eligible vacant building (IC 6-1.1-12.1-4.8)
<br />INSTRUCTIONS:
<br />FORM SB-1 !Real Property
<br />1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body requires
<br />information from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise this statement must be
<br />submitted to the designating body BEFORE the redevelopment or rehabilitation of real property for which the person wishes to claim a deduction. "Projects"
<br />planned or committed to after July 1, 1987, and areas designated after July 1, 1987, require a STATEMENT OF BENEFITS. (IC 6-1.1-12-1)
<br />2. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to initiation of the redevelopment or rehabilitation,
<br />BEFORE a deduction maybe approved.
<br />3. To obtain a deduction, application Form 322ERA/RE or Form 322 ERA/'/BD, Whichever is applicable, must be filed with the County Auditor by the later of.
<br />(1) May 10; or (2) thirty (30) days after the notice of addition to assessed valuation or new assessment is mailed to the property owner at the address shown
<br />on the records of the township assessor.
<br />4. Property owners whose Statement of Benefits was approved after June 30, 1991, must submit Form CF-1/RE annually to show compliance with the
<br />Statement of Benefits. (fC6-1.1-12.1-5.1(b))
<br />5. The schedules established under IC 6-1.1-12.1-4(d) for rehabilitated property and under IC fr1.1-12.1-4.8(1) for vacant buildings apply to any Statement of
<br />benefits approved on or after July 1, 2000. The schedules effective prior to July 1, 2000, shat/ continue to apply to a statement of benefits filed before July 1,
<br />nnnn
<br />Vv~ •' •
<br />Name of taxpayer
<br />GTA Containers, Inc. and Foxtrot Realty Corporation (Owner)
<br />Address of taxpayer (number and street, city, state, and ZIP code)
<br />4201 Linden Avenue, South Bend, Indiana 46619
<br />Name of contact person Telephone number E-mail address
<br />Yatish J. Joshi, President (574) 288-3459 YJOSHI@GTACONTAINERS.COM
<br />
<br />Name of designating body Resolution number
<br />Common Council of the City of South Bend
<br />Location of property County DLGF taxing district number
<br />4201 Linden Avenue, South Bend, Indiana 46619 St. Joseph 018 (Portage Township)
<br />Description of real property improvements, redevelopment, or rehabilitation (use additional sheets if necessary) Estimated start date (month, day, year)
<br /> July, 2008
<br />Proposed investment of between $2.2 and $2.8 million to construct a new manufacturing facility totaling Estimated completion date (month
<br />day
<br />year)
<br />pproximately 90,000 square feet and related real estate improvements. ,
<br />,
<br />July, 2010
<br />
<br />Current number Salaries Number retained Salaries Number additional Salaries
<br />31 -$1,125,000 31 -$1,250,000 -6-11 employees -$160,000-260,000
<br />• r • • ~ • -~-• ~ •-•
<br />NOTE: Pursuant to IC 6-1.1-12.1-5.1(d){2) the COST of the property REAL ESTATE IMPROVEMENTS
<br />is confidential. COST ASSESSED VALUE
<br />Current values $2.179M $1.852M
<br />Plus estimated values of proposed project -$2.2M - $2.8M Det. under Reg. 17
<br />Less values of any property being replaced N/A N/A
<br />Net estimated values upon completion of project -$4.4M - $5M Det. under Reg. 17
<br />• • ~ ~ • -• ~
<br />Estimated solid waste converted (pounds) Estimated hazardous waste converted (pounds)
<br />
<br />Other benefits: 7-4, 1 ~-r~F+r1
<br />- ~ t ~•;F,,, ;~t~sp,~d
<br /> 1 -
<br /> J'~ j _ 3 C,`,3
<br />J-,:;r~ ~r~;~,v~
<br />~l4(~i- ,
<br />• •
<br />1 hereb certi that the re resentations in this statement are true.
<br />Signature of authorized representative Title Date signed (month, day, year
<br />~
<br />~' i
<br />~--~ Li ~
<br />_..\
<br />Yatish J. Joshi, President
<br />July 8, 2008
<br />Page 1 of "L
<br />
|