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HomeMy WebLinkAbout6A(1) Resolution No. 2645~~~ RESOLUTION NO. 2645 A RESOLUTION APPROVING AN APPLICATION FOR REAL PROPERTY TAX DEDUCTION WHEREAS, I.C. 6-1.1-12.1-2(1) provides that an application for property tax deduction may not be approved when the property is located in an allocation area as defined in I.C. 36-7-14-39, unless the Redevelopment Commission which designated that allocation area adopts a resolution approving that application; and WHEREAS, the South Bend Common Council has received a petition for up to eight (8) years of real property tax abatement consideration from Patterson Logistic Services, Inc. for real property located at 7055 Cleveland Road in the Airport Economic Development Area, the legal description of which is attached hereto, marked Exhibit "A" and incorporated herein; and WHEREAS, this Commission declared the Airport Economic Development Area by Resolution No. 919, adopted February 23, 1990, and in the same resolution declared the Airport Economic Development Allocation Area, Allocation Area No. 1; and WHEREAS, the property located at 7055 Cleveland Road is located within the Airport Economic Development Allocation Area, Allocation Area No. 1. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1) The Commission finds that the application from Patterson Logistics Services, Inc. for up to eight (8) years of real property tax abatement consideration for property located at 7055 Cleveland Road in the Airport Economic Development Allocation Area, Allocation Area No. 1, should be and is hereby approved. 2) That a copy of this resolution be forwarded to the South Bend Common Council to indicate the Commission's approval of the petition for real property tax abatement for Patterson Logistics Services, Inc. Approved this 5`h day of February, 2010, at the regular meeting of the South Bend Redevelopment Commission. SOUTH BEND REDEVELOPMENT COMMISSION ATTEST: EXHIBIT A LEGAL DESCRIPTION Description: Lot numbered Two (2) as shown on the recorded plat of Kidder's Olive Road Minor Subdivision, recorded Apri117, 1998 as Document Number 9818752 in the Office of the Recorder of St. Joseph County, Indiana. Tax Key No.: 71-03-19-300-003-000-009 or 025-1011-018601 Address: 7055 Cleveland Rd. South Bend, Indiana 1200 COUNTY-CITY BUILDING 227 W. JEFFERSON BOULEVARD SOUTH BEND, INDUWA 46601-1830 PHONE 574/ 235-9371 FAx 574/235-9021 TDD 574/ 235-5567 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY $L ECONOMIC DEVELOPMENT JEFFREY V. GIBNEY EXECUTIVE DIRECTOR TAX ABATEMENT REPORT TO: SOUTH BEND REDEVELOPMENT COMMISSION FROM: BOB MATHIA ~ ~~ SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: PATTERSON LOGISTICS SERVICES, INC. DATE: January 27, 2010 On January 27, 2010, a petition for real property tax abatement consideration for property located at 70SS Cleveland Road was filed with the City Clerk by Patterson Logistics Services, Incorporated. Pursuant to Chapter 2, Article 6, Section 2-82 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community and Economic Development for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. The Department of Community and Economic Development has reviewed the petition, investigated the area, and makes the following report. PROJECT SUMMARY Patterson Logistics Services, Inc. operates distribution facilities for the company's medical, dental and veterinary divisions. The Petitioner is proposing to: (a) purchase an existing 208,000 square foot warehouse/distribution center that is only partially occupied; (b) construct physical improvements including mechanical and electrical upgrades plus 10,000 square feet of new office and supporting spaces necessary to support planned operations; (c) install logistical equipment to set up the building as a distribution center. The existing building has aseven-year tax abatement on it that the Petitioner intends to assume. The Petitioner is requesting up to an eight-year abatement for the improvements it intends to make to the building. The cost of the construction portion of the project for the improvements is estimated at $2,500,000. The logistical equipment to be purchased includes racking, conveying equipment, server equipment, cabling and security equipment. A personal property tax abatement application is being submitted as part of the total project. The project's total cost is estimated at up to $19,500,000 which includes COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL SC PROGRAM PAMELA C. MEYER DONALD E. INKS MANAGEMENT 574/235-9660 574/235-9371 EuzAEErrt LEONARD Fax: 574/235-9697 574/235-9371 RE: Tax Abatement for Patterson Logistics Services, Inc. January 27, 2010 Page 2 purchase of the existing building. The Petitioner is in the early stages of the construction contracting process. Therefore, it does not have a firm list of contractors. Based on current information it is estimated that the applicant will qualify for afive-year abatement. The length of this period could increase depending on the final selection of the contractors. However, it is not expected to exceed eight years. Total taxes to be abated during afive-year abatement period are estimated at $631,439. This includes $189,500 for the proposed improvements and $441,939 for the tax abatement on the existing building. Total additional taxes to be laid as a result of the project during the five-year abatement period are estimated at $931,271. This includes $182,916 for the improvements and $748,355 for the existing building. Total taxes to be abated during an eight-year abatement period are estimated at $705,185. This includes $260,871 for the proposed improvements and $444,314 for the tax abatement on the existing building. Total additional taxes to be aid as a result of the project during the eight-year abatement period are estimated at $1,795,150. This includes $334,994 for the improvements and $1,460,156 for the existing building. EMPLOYMENT IMPACT Per the petition, it is estimated that the project will create fifty (50) new, permanent full-time positions with an annual payroll $1,040,000. The project will also maintain sixty (60) existing permanent full-time positions, including 20 existing permanent full-time minority employees, with a total annual payroll of $1,620,000. ABATEMENT pUALIFICATION 1. A review of the tax abatements previously granted finds that the Petitioner, Patterson Logistics Services, Inc., has not been granted or associated with any previous tax abatements. However, at this time they are also petitioning for a personal property tax abatement. 2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. 3. A review of the South Bend Redevelopment designation areas finds that the property is located in the Airport Economic Area, which is a Tax Incremental Allocation Area; therefore, the petition for real property tax deduction must first be approved by the South Bend Redevelopment Commission. 4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the qualifications for up to an eight-year real property tax abatement under Section 2-79, Warehouse Development in the City-wide District. 2-Feb-10 Patterson Logitics Services, Inc. Public Benefit Points Summary'' Qualify Earned Available Public Benefit Item: Y or N Points Points Proiect Related: 1. A. Redevelop a Site that has Special Needs N 0 49 B.' Develop Based on Local University Research N 0 35 C. Achieve a Physical Element of a Plan N 0 36 Sub-total Project Related: 0 120 2. Super Size Proiects (aoint values are cumulative): A. 100% to 199% Y 25 25 B. 200% to 299% Y 68 68 C. 300% to 399% Y 65 65 D. 400% and Over Y 52 52 Sub-total Super Size Projects: 210 210 3. Construction Related: A. Employ Local Companies N 0 20 B. Purchase Materials from Local Companies N 0 20 C. Require Employees vs. Independent Contracts N 0 19 D. Require Target Wage Levels N 0 22 E. Require Health Benefits N 0 22 F. Require Pension Benefits N 0 18 G. Maintain Affirmative Action Plan N 0 20 Sub-total Construction Related: 0 141 4. Wane 8~ Benefit Related: A. Pay Target Wage Levels N 0 33 B. Provide Health Benefits Y 34 34 C. Provide Pension Benefits N 0 29 D. Provide Training Y 28 28 E. Provide Child Care N 0 15 F. Provide Transportation Assistance N 0 14 G. Provide Employer Assisted Housing program N 0 9 Sub-total Wage 8 Benefit Related: 62 162 5. Workforce Related: A. Create New Jobs Y 42 42 B. Retain Existing Jobs Y 41 41 C. Maintain Affirmative Action Plan Y 35 35 D. Provide Targeted Hiring Preference N 0 34 Sub-total Workforce Related: 118 152 6. Pav for Municioal infrastructure: (point values are cumu lative): A. Pay for Oversizing or Upgrading N 0 14 B. Pay for 26-50% of Extension Cost N 0 26 C. Pay for 51-75% of Extension Cost N 0 39 D. Pay for 76-100% of Extension Cost N 0 52 Sub-total Infrastructure Related: 0 131 7. Suaaort a Municiaal Facility: A. Support a Municipal Facility N 0 84 Total Public Benefit Poi nts: 390 1000 Qualification for each Public Benefit Item based on best available information at time of application or good faith determination if no information available. Royal Holdings, Inc. Additional Years of Abatement Multi-family Development Proiects: From To Additional Years 0 141 0 142 183 1 184 225 2 226 267 3 268 309 4 310 351 5 352 393 6 394 & over 7 Other Development Proiects: From To Additional Years 0 300 0 301 357 1 358 414 2 415 471 3 472 528 4 529 585 5 586 642 6 643 1000 7 Subtotal from Points Summary: 390 Base Years of Abatement Additional Years of Abatement: 2 Total Years of Abatement: 5 2-Feb-10 Patterson Logitics Services, Inc. Public Benefit Points Summary Qualify Earned Available Public Benefit Item: Y or N Points Points Proiect Related: 1. A. Redevelop a Site that has Special Needs N 0 49 B. Develop Based on Local University Research N 0 35 C. Achieve a Physical Element of a Plan N 0 36 Sub-total Project Related: 0 120 2. Super Size Projects laoint values are cumulative): A. 100% to 199% Y 25 25 B. 200% to 299% Y 68 68 C. 300% to 399% Y 65 65 D. 400% and Over Y 52 52 Sub-total Super Size Projects: 210 210 3. Construction Related: A. Employ Local Companies Y 20 20 B. Purchase Materials from Local Companies Y 20 20 C. Require Employees vs. Independent Contracts Y 19 19 D. Require Target Wage Levels Y 22 22 E. Require Health Benefits Y , 22 22 F. Require Pension Benefits Y 18 18 G. Maintain Affirmative Action Plan Y 20 20 Sub-total Construction Related: 141 141 4. Waae 8 Benefit Related: A. Pay Target Wage Levels N 0 33 B. Provide Health Benefits Y 34 34 C. Provide Pension Benefits N 0 29 D. Provide Training Y 28 28 E. Provide Child Care N 0 15 F. Provide Transportation Assistance N 0 14 G. Provide Employer Assisted Housing program N 0 9 Sub-total Wage t4 Benefit Related: 62 162 5. Workforce Related: A. Create New Jobs Y 42 42 B. Retain Existing Jobs Y 41 41 C. Maintain Affirmative Action Plan Y 35 35 D. Provide Targeted Hiring Preference N 0 34 Sub-total Workforce Related: 118 152 6. Pay for Municipal Infrastructure: (point values are cumulative): A. Pay for Oversizing or Upgrading N 0 14 B. Pay for 26-50% of Extension Cost N 0 26 C. Pay for 51-75% of Extension Cost N 0 39 D. Pay for 76-100% of Extension Cost N 0 52 Sub-total Infrastructure Related: 0 131 7. Suaaort a Municipal Facility: A. Support a Municipal Facility N 0 84 Total Public Benefit Points: 531 1000 `Qualification for each Public Benefit Item based on best available information at time of application or good faith determination if no information available. Royal Holdings, Inc. 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