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HomeMy WebLinkAbout19-12 SWGS Properties, LLC Confirming Personal Property Tax Abatement I f:: Filed in Clerk's Office JAN 2 2019 KAREEiVsAl-I BOWLER IRG�_ CITY CLERK,SOUTH BEND,IN CITY OF SOUTH BEND COMvUNITY INVESTMENT JAMES MUELLER, EXECUTIVE DIRECTOR January 22,2019 Council Member Gavin Ferlic,Chairperson Community Investment Committee South Bend Common Council 4th Floor,County City Building South Bend,IN 46601 RE: Vacant,Real&Personal Property Tax Abatement Petition for:SWGS Properties,LLC Dear Council Member Ferlic: Please fmd the attached information pertaining to a vacant,real and personal property tax abatement petition submitted by SWGS Properties, LLC to purchase a vacant building located at 2920 W Sample St. South Bend,IN 46619 and new equipment for fabrication of steel products.The business,a distributor for hot and cold rolled metal products for steel industry, was formed in 2015 and has overgrown its existing facility 10,000 sq ft in Mishawaka,IN.This petition package includes: > Department of Community Investment's summary report > Petition > Statement of Benefits forms(Vacant Building, Real and Personal properties) ➢ Supporting information The report contains the Department's findings relative to the above petition. The petitioner proposes to purchase the vacant building for$765,000, invest in its renovation approximately $500,000 and purchase new equipment with estimated cost of$700,000. A total project cost is approximately $2,000,000. A representative from SWGS Properties, LLC will be available to meet with the Committee on Monday, January 28,2019. Should you or any of the other Council members have any questions concerning the report, or need additional information,please feel free to call me at 235-5823. Sinc rely, AO A Dani: : c en - er Director,Business Development DANIEL J.BUCKENMEYER ALKEINA ALDRIDGE PAMELA MEYER TIMI CORCORAN BUSINESS DEVELOPMENT ENGAGEMENT&ECONOMIC EMPOWERMENT NEIGHBORHOOD DEVELOPMENT PLANNING&Cori MUNITY RESOURCES EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION ; EMPOWERMENT 1400S County-City Building 1227 W.Jefferson Blvd.j South Bend,Indiana 46601 I p 574.235.9371 I www.southbendin.gov Filed in Clerk's Office JAN 23 2019 ' "FOWLER TAX ABATEMENT REPO TYCLERK,StaTH BEND,IN TO: South Bend Common Council FROM: Daniel Buckenmeyer,Director of Business Development SUBJECT: VACANT, REAL & PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: SWGS Properties,LLC DATE: January 23,2019 On Monday, January 14, 2019, a petition from SWGS Properties, LLC was received and subsequently filed with the City Clerk for vacant,real and personal property tax abatements consideration for property located at 2920 W Sample Street, South Bend, IN 46619. Pursuant to Chapter 2,Article 6, Section 2-84.2 of the Municipal Code of the City of South Bend,this petition was referred to the Department of Community Investment 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 Investment has reviewed the petition (a copy of which is attached), investigated the area, and makes the following report. PROJECT SUMMARY > Building purchase price of$765,000 with an additional$500,000 in planned private investment for building upgrades to operate a manufacturing and distribution facility including modem roof, flooring, and loading docks. > There are two parcels including a vacant building and land that have not been utilized for close to 5 years. Currently, the building has leaks and requires immediate repairs and renovation. > Additional private investment in personal property/capital equipment with purchase price of$700,000.The industrial equipment is for forming hot and cold rolled metal products. > Estimated taxes phase-in and paid: Property Estimated Total Taxes Est.Taxes Phase-In Est.Taxes Paid Vacant—6Y $125,569 $104,096 $21,473 Renovation-6Y $82,952 $68,767 $14,185 Equipment—5Y $60,437 $40,119 $20,318 Total: $268,958 $212,982 $55,976 EMPLOYMENT IMPACT Per this petition, it is estimated that the company will: ➢ Bring four (4) permanent full-time jobs representing a total annual payroll of $160,576 to South Bend. The hourly average wage is$19.30. > Create sixteen (16) new permanent, full-time jobs within first four years with a total estimated annual payroll of$624,000. The estimated hourly average wage is $18.75. ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted, finds that the petitioner has not been granted or associated with previous abatements. 2. The Area Plan Commission 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 River West Development Area. 4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the qualifications for a six(6)year vacant building,a six(6)year real property and five (5) year personal tax abatements under section 2-82.1, Industrial development in Urban Enterprise Zone and Redevelopment Blighted Areas, and section 2-84.2,Tangible Personal Property Tax Abatement. Filed in Clerk's Office JAN 23 20191 KAFiEEMAH FOOLER CITY CLERK,SOUTH BENT !*' BILL 19-12 RESOLUTION NO. A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 2920 W Sample Street, South Bend, Indiana 46619 AS AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR SWGS Properties, LLC WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 2920 W Sample Street, South Bend, Indiana 46619 and which is more particularly described as follows: Business Personal Property and which has Key Numbers to be assigned, be designated as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for personal property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted personal property tax deduction for a period of five (5) years as shown by the attachment pursuant to Indiana Code 6-1.1-12.1-17 and further determines that the petition, the Memorandum of Agreement between the Petitioner and the City of South Bend, and the Statement of Benefits comply with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq. Year 1-100% Year 2- 90% Year 3- 80% Year 4- 70% Year 5- 60% SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. Tim Scott, Council President South Bend Common Council City of South Bend Petition for Incentives '' Petition must Include a$250 filing fee payable to the City Clerk's Office or online via the City's website et http://southbendln.gov/government/content/tmr•obotement before processing con bit complete General Information Project Name Project Number IEDC#420573 Legal name as registered with Secretory of Grace Steel Corporation (Adding Grace Steel, LLC in coming days with Tax FEIN) State 9ua;nes svuaure Grace Steel LLC would be Joint Venture with Steel Warehouse (Female Owned) Company website G--t C S �r- 04 www.gracesteelservice.com r �s Ct. Propoied Project Information propostdproject aridness 2920 West Sample St Parentron,panynarn Grace Steel Corporation Gty.Stele,Zip South Bend, IN 46619 legal Pam Andre(Female owned) =age is the rea I estate owned or Would be Owned to fwd Square . t of facility 73,000 If leased by whom Prima y Contact Information Primary company contact name David Andre Title President Addressor comps nyeented 21601 Durham Way Phone 574-536-2445 Por,sta F,zip Bristol, IN 46507 `mal davldandre@gracesteelservice.com Senior Official Information Crimper*senior official name Same as above tiC5 Address afcompany contact UIthfferentirom Ienc r Ir abovel City,Sta e,Zip Era,l -"- Consu¢tant Information/Agent Hired Wiriness con;u!tan Vagant name RSM US LLP/Eric Levenhagen Consultant'elfafe(YIN) Y Address local economic dove 9225 Priority Way W Drive#300 development partners aouroval(VN � City,sea k zip Indianapolis, IN 46240 Project Overview Brief de*ription of you: compan .project,and why the Grace Steel has outgrown its existing facility 10,000 sq ft in Mishawaka, IN as a proper-Nis necessity for distributor for hot and cold rolled metal products for steel industry and other industrial econom;growth markets. We are seeking potential sites of 70,000 sq ft or larger for growth. Evaluation criteria include site location, economic incentives and labor force. The potential South Bend site is 73,000 sq ft and has been vacant for 6 years and under utilized for the past 15 years. It is located in Urban Enterprise Zone Grace Steel is looking to grow in either Indiana or Michigan to serve a large vendor at Steel Warehouse with up to 15 new jobs above State/County average wage. There is opportunity to form a joint venture with this vendor for steel product manufacturing/distribution to save on shipping costs and streamline efficient operations. We respectfully request analysis for Vacant Building Deduction Tax Abatement or TIF Funding compared with Enterprise Zone savings over 10 years to achieve this growth plan and major investment into this building Certified Technology Palk appropriate Filed in Clerk 8 Office No is the prtk;ect In a Tar Incremental D'nancing Yes (Sample Street Corridor) rF1arts?Ifs°,ksh,cn? Certify titin the Building Permit has not been Number of residential units created by I O Issued POW trains if this eta petition for p. octal property tax abatement,has No the equipment been Installed i�n�tEE9r,r r s`r'tNLEB CITY CLEF-47 SC'!Til SEND,IN Investment Details Public Irdrastruct„re needs(Off- Has any S(}t funding been what is the value of any i`su,nment biting purchased in What is the value of any equ 1pment Peens site if project la donors) received? Indiana for the project? purchased from oat of stela forte project? N/A No $350,000 $350,000 1,New Frolect Investments Calentar Year 2018 2019 2020 2021 2022 2023 2024 2025 Land Ate Wsltion Building lease Payments 1 Building Purchase Costs $765,000 New Budding Construction t morins iauading fmprcrvements $ 100,000 $200,000 $ 100,000 $100,000 New M.;tltlnvy&Equipment $400,000 $ 100,000 $ 100,000 $100,000 special-lading/Retooling New FusAllure/nittures - New Co neuter/if Hardware $10,000 New solnvar $10,000 $10,000 $ 10,000 $ 10,000 On-site tall Infrastructure On-sate tees lnfr structure I TOTAL I $765,000 $520.000 $310.000 $210.000 $210.0601 $0 S 0 $0 Full-Tine Permanent Indiana-Resident Positions by Calendar Year Calendh f r Year lots retained Total hourly Cumulative it of net NEW full time Hourly average wage,w/o Total training Total C to be wage w/o permanent jobs created et project benefits or bonuses,of expenditure- trained-not fringe or cumulative net new jobs not cumulative bonuses cumulative 2018 4(0 at project site) 19.30 201.9 5 19.40 515000 5 2.020 10 18.75 $20000 10 20x1 15 18.75 $25000 15 2022 20 18.75 2023 20 18.75 2024 20 18.75 2025 20 18.75 2025 20 18.75 2025 20 18.75 2028 20 18.75 2029 20 18.75 Prtrfide hourly wage information for new employees In the following positions. Full time Paa lime Laborers Technical 51d enemy:rtal $22 Adnenlstretfve Wee wig as the individual responsioie for coordinating with worfron.anrnrs„hind, David Andre Das yopr company have en EEO hiring policy? Yes Are you an EEO employer? 1 Yes Please list the number of full time and part time minority and/or female employees for each of Please desalbe your corn mItment to the last three years: diversity and Indutlon by detailing your Year outreach and recruitment efforts for the last _ three years as well as currant policies. Full Time Pert Time Full Time Part Time Full Time Put Time fiat Pam Andre is Owner and Hispanic they have made company 'man female owned business. Indian Company is EEO employer Female - that does not discriminate 1 1 in hiring process. Other 3 3 3 Complete below for Real or Personal Property Tax Abatement only. Please sign for all requested incentives. Public Benefit Item: Infortmation Is required on both the construction companies end the con'panics which will protide materials purchased for this project. Please complete the table below with the appropriate information. If Qualify Earned Points Available Points you qualify for the points,please enter the full amount of available (Yes or No) r points. Construction Related(Contractors): A. Employ Local Companies(75%) Yes 20 20 B. Purchase Materials from Local Companies(75%) Yes 20 20 C. Require Employees vs.Independent Contractors Yes 19 19 D. Require Prevailing Wage(Davis Bacon) Yes 22 22 E. Require Health Benefits Yes 22 22 F. Require Pension Benefits Yes 18 18 G, Maintain Affirmative Action Plan No 20 15ub-total Construction Related: 121 141 Wig,&Benefit Related lOwner): A. Pay Target wage Levels Yes 33 33 B. Provide Health Benefits Yes 34 34 C. Provide Pension Benefits Yes 29 29 D. Provide Training Yes 28 28 E. Provide Child Care No is F. Provide Transportation Assistance No 14 G. Provide Employer Assisted Housing program No 9 l Sub-total wage&Benefit Related: 124 162 y Workforce Related: A. Create Nevi Jobs Yes 42 42 B. Retain Existing Jobs Yes 41 41 C. Maintain Affirmative Action Plan No 35 O. Provide Targeted Hiring Preference Yes 34 34 Sub-total WorkforesRefated: 117 152 4 Support a Municipal Facility: A Support a SB Municipal Facility(donations to the zoo,conservatory,museum,etc.) Yes 84 84 Name of Facouty South Bend Zoo J [$4-of i Municipal Facility: as 34 Sub-total from Above: 446 539 The urdersigned owner(s)of real property,located within the City of South Bend,herby petition the Common Council of the City of Sauth Bend for areal and/or personal�prcperty *batement consideration and pursuant to I.C.,6-1.1-12.1.-1,et seq.,and South Bend Mur}Icipol de Sec. 5 et se0.,for this petition state the above. Submitted By: _ / L.--"--1"---JDate: o -1.1(fir 44 For Staff Use Only Below This Line ,Cr-t.•-t.4,-/ 5-6 S 'O What Is the current assessed value? Real Property: -7 gy 0 00 Personal Property: What is the projected assessed value? Real Property: / ��� Personal Property: 6-22 000.Q ) What Is the tax key number for this project? O/X ^ 212 7_�_1 t 2//o/ / o/c 0 74---- '_ P 7. . _ 2J p2 or What is the six digit NAILS code? //Ot 3 5-70 O 7] !�! �1 71s-- L O Please attach a Google map and street view of the location. Filed in Clews of "ficc' I 1 Please list the amount of real and personal property taxes Real Property Taxes: Personal roperty "S paidfor 'thhe�last five years when applicable. JJuly r7 }S ,i0/9 i f 7fY/� /d Year One 0 ,� /7d2 /7 s� / y Year Two 7/ �� r �Rttty AH'FOWLER ( •�6 Year Three , '?--e), '?--e) nYCLEF'fK, `;C7i1`dtggnlDrIh ,2-0/Y/ /CYear Four T 2 2/ so is/91) s� /7v Year Five a 46' J ' Please fill out the following Public Benefit Summary Information and add to total from above. fY or N1 Points Points Public Benefit Item: Project Related: 5 A. Redevelop a Site that has Special Needs 49 8 Develop Based on Local University Research 35 C. Achieve a Physical Element of a Plan 36 Sub-total Project Related: 120 6 Super Size Projects(point values are cumulativel: A. 100%to 199% ty „Z,' 23 B. 200%to 299% 68 C. 300%to 399% 65 D 400%and Over 52 Sub-total Super Size Projects: 210 7 Pay for Municipal Infrastructure: A. Pay for Oversizing or Upgrading 14 B Pay for 26-50%of Extension Cost 26 C. Pay for 51-75%of Extension Cost 39 D Pay for 76-100%of Extension Cost 52 ISub-total Infrastructure Related: 131 Total from Applicant Section: y1/6 539 Total from Staff Section: 461 Total Public Benefit Points: 7 1000 t.4..,N0 S Meade St rn 0 c LL o bA cd o+ • a �! G LL fVCn Gi 3 3 a cn o � 0 CtS cn "CI C 2.2 atC71'S Bendlx Dr S Bendlx Dr m - a n N E CO to CV r a 00 o t N M bertySt -�.�,- N Ua 0 = �O © '0 C• S - 0 Ca) 75, 3 ~ Dundee ;r 0/ M .N �r ) coo 0 O c A E Q17.1 o P c C Ci) m v U n1WH S N ®© c ZCU a U C + Q- m � 1 N E E N a �, W G�. of L csi EF 0 to -0 S Lake St o 0 - cd O rn v �' I �' r U O m CA O -21 a, co u U � __ - 1 N > y T. ° C < • 0 N A - b0 c a d U LI• O m Q r� LL U C 0 v a S Falcon St 41? 0 }(— .-r (0 Xi a - C• N !)�v c3. ", 0I V c E Qf o E 0 S Kenmore St S Kenmore St 0 . N ON I ifY-• dF N a o �� a o r, I 1 t. 1 I 00 0 N sD N L N L p ti 2 v W N cn a cn 1-. a. 0. a z ou VD Iw 00 o F. 0 Q, Z c) d � x v Q o N 7 ,.„ ,,,,, ,, \ , i ; ; i: j -- \ 1 , \„ O YJ +) > ci) W v, a. ►a m 13 -- w JQoo a. z ¢ a) W a) Gt o o c_s LL ` o ++CA Q' cw CQ oq C oo o c U a o a 0 F- ° o o p - 3 F.I. o °O °° o a. a a: o o es: ao0 AA N — - C.) N Q al 0 m E sr) :IICf) Cil I. GS N0 'f. 0 .'? 'v O W A 0 II . ~".Ccu h•• 0 5i07 CI . ... u ai ca a = .N a A 0 d a `d R w o d '" .a 4. A a an . e _ s.. >. > m A `d y C 0. ^u0, u 3?, " a CO2 a A 0. b y ai ad v cad O� p `.° o o cxv cQd 8 v, u 661 p szr in a cn U 4 F F .a Q .a a r fi I ,n� , 1 11111i = H 4 W 1).4„Jv. v. • — \ L ---\ 1/4...., Li_ , I-LL. ll L,--1 . 1 l 0. O N N a.. N U N O 1 U p M Q) U C O '% to _ .. a U o 0 crs A 7 3 U Q cr Z CI w E 9 4-1 rn a) • W CO H O Q y N r o .= o N 41E— c, z bb 3 C)CC .t0 U a+ cn o fa W Q a • ,2 L 46)CA av v Z E LL v o �' 00 0 N z ¢ L'- N O C i •.O '1”) < _ 5 CO cw c o O co R .4Z CA CC 0 � 3oo oo o o O fa.. .Y O �O o x Q+ 0 O. ^] a. c� o NO N p rn in rn U z al 0 W M o o °O c v N O t— Co N C/) V..' C/) L 69 69 N N .co) O al O C ,_ O C4 *01 y o 0 0. G u, v' 0 3 cc t. i. 1 1 0. V H •.. u Q ai ,� as G .a .N z, G c an u .a a 4 s. > > d C `" = •.c • OI Sl L_' V' N OJ y .. 0 0 c'�C y0, 0 •C 1 vv'i O 0 A 0) es 0 R. v U y w0 N y0 a 0 0. to U d E+ E-. a - F Q Q .5 E c ,• �,,,, STATEMENT OF BENEFITS Filed in Clerk's Office FORM SB-1 /PP °t \_ PERSONAL PROPERTY rate Form 51764(R4/11-15) ' d' Prescribed by the Department of Local Government Fin rice JANr. PRIVACY NOTICE Any information concerning the cost of the property and spectic salaries paid ------ to individual employees by the property KAREEro, ,t<H.;JWLR owner isconrrdendei per ICs-1.i-12.1-5.1. INSTRUCTION,° CITY CLERK, qr ,,•'',,BEND,I, q. This statement must be submitted to the body designating the Economic 'evr as 017obtrArea pito - • , •• • aring if the designating body requires Information tkam the applicant in making ifs 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 distibution equipment and/or information technology equipment for which the person wishes to claim a deduction. 2. The stateme,ot of benefits form must be submitted to the designating body and the area designated an economic revitalization area before the installation of qualifying ebatable 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-ESA)with the township assessor of the township where the property is situated or with the county assessor if there is no township assessor for the town;hip. The 103-ERA must be flied 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,uitless a filing extension nes been ootained. A person who obtains a filing extension must file the form between January 1 and the extended due date of hat year. 4. Property owr ers 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 SS-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 5B-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 taxpaye Y • S .jta;r}1_,,, .a 5 , L L__ Name of contact person Grace Steel LLC(Pam Andre is Woman()wrier) David Andre, Owner Address of taxpe rer(number and street,city state,and ZIP code) Telephone number 21601 DurhaTn Way. Bristol, IN 48507 ( 574 ) 536-2445 SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of des,gne►ing body Resolution number(a) City Council Of South Bend Location of prop rty T County DLGF taxing district number 2920 West Sample Street,South Bend,IN 46619 ST JOSEPH 026 Description of manufacturing equipment and/or research and development equipment ESTIMATED and/or tog istici I distribution equipment and/or information technology equipment. START DATE I COMPLETION DATE (Use additronar sheets If necessary.) Company w II purchase manufacturing equipment for hot and cold rolled metal Manufacturing Equipment 02/15/2019 12/31/2020 products to serve steel industry and other industrial markets. R&D Equipment Loglst Dist Equipment IT Equipment SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT Current number Salnrio, Number retained 1 Salaries Number a• ane Salaries 0 $0 0 1 $0 0 $416,000.00 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&D EQUIPMENT LOG13T DIST IT EQUIPMENT EQUIPMENT EQUIPMENT COST of the property is confidential. COST ASSESSED COST ASSESSED COST ASSESSED COST ASSESSED VALUE VALUE VALUE VALUE Current value, Plus estimated values of proposed project 700,000 210,000 Less values of any property being replaced Net estimated values upon completion of project 210,000 1 SECTION ' WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER Estimated so d waste converted(pounds) Estimated hazardous waste converted(pounds) Other benefits: SECTION 1 TAXPAYER CERTIFICATION I hereby certfy that t : ea-sent- of Ar in I sta -. em are true. Signature of autionzed r pre stat, - - Date signed(month,day year) ---- January 4, 2019 Printed name o au • zed representative Title David Andre Owner Page 1 of 2 FOR USE OF THE DESIGNATING BODY We have re4ewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the general standards adopted in t-ie 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 desir noted area has been limited to a period of time not to exceed calendar years'(see below). The date this designation expires isNOTE:this question addresses whether the resolution contains an expiration date for the designated area. B. The type:if deduction that is allowed in the designated area is limited to: 1 . Installation of new manufacturing equipment; ❑Yes 0 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. Install:Son of new logistical distribution equipment. 0 Yes 0 N o 4. Install 160f1 of new information technology equipment: 0 Yes 0 No C.The amovnl of deduction applicable to new manufacturing equipment is limited to$ cost with an assessed value of $ (One or both lines may be filled out to establish a limit,if desired.) D. The amo,nt of deduction applicable to new research and development equipment is limited to$ cost with an assessed value of $ . (One or both lines maybe filled out to establish a limit,if desired.) E. The amo tnt of deduction applicable to new logistical distribution equipment is limited to$ cost with an assessed value of $ (One or both lines may be filled out to establish a limit,If desired.) F. The amc.nt of deduction applicable to new information technology equipment Is limited to$ cost with an assessed value of $ . (One or both lines may be filled out to establish a limit,If desired.) G. Other lim':ations or conditions(specify) H. The dediktion for new manufacturing equipment and/or new research and development equipment and/or new logistical distribution equipment and/or new Infor nation technology equipment Installed and first claimed eligible for deduction is allowed for: El 't oar 1 0 Year 2 0 Year 3 0 Year 4 0 Year 5 ❑ Enhanced Abatement per IC 6-1.1-12.1-18 Number of years approved: ❑ 'ear 6 0 Year 7 0 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 iesignating 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 eiat the totality of benefits is sufficient to justify the deduction described above. Approved by:(elPatera and title of authorized member of designating body) Telephone number ; Date signed(month,day,year) ( ) Printed name of ituthodzed member of designating body Name of designating body Attested by:(slgitsfure and title of attester) Printed name of attester If the desig letting body limits the time period during which an area Is an economic revitaltzatlon area,that limitation does not limit the length of time a taxpayer Isaentitled 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)Adesignating 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 ars abatement schedule based on the following factors: (1)The total amount of the taxpayer's Investment In real and personal property. (2)The number r'f 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 the chapter.An abatement schedule must specify the percentage amount of the deduction for each year of the deduction. An abatement schedule may not exceed ten 1 r 0)years. 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