Loading...
HomeMy WebLinkAbout19-20 Chase Plastics Designating Personal Property Tax Abatement Filed in Clerk's Office _, r PR 0 3 2019 I KAREEMAH FOWLER CITY CLERK,SOUTH I?END.L , CITY OF SOUTH BEND COMMUNITY INVESTVE\T Council Member Gavin Ferlic, Chairperson April 3, 2019 Community Investment Committee South Bend Common Council 4th Floor, County City Building South Bend, IN 46601 RE: Personal Property Tax Abatement Petition for: Chase Plastics Services, Inc. Dear Council Member Ferlic: Please find attached the Department of Community Investment's report on a personal property tax abatement petition for the above-referenced petitioner. Also attached is a copy of the petition,Statement of Benefits form, and supporting information. The project calls for the acquisition and installation of new equipment as part of the company's planned increase in productive capacity at their distribution center at 5245 Dylan Drive, South Bend. The report contains the Department's findings relative to the above petition. Chase Plastics will be purchasing and installing new equipment.The total project cost for the equipment is estimated at$823,000. The project meets the qualifications for a(5)five-year personal property tax abatement and a representative from Chase Plastics Services will be available to meet with the Committee on Monday,April 8th,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 235-95823. Sine rely, Daniel ucken ever Director Economic Resources& Business Development DANIELJ.BUCKENNIEYER ALKEYNA ALDRIDGE PAMELA MEYER TIM CORCORAN BUSINESS DEVELOPMENT ENGAGEMENT&ECONOMIC EMPOWERMENT NEICEIBORHOOD DEVELOPMENT PLANNTNC&COMMUNITY RESOURCES EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 1400S County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov �_Filed in Clerk's Office r___,..._ ,____...._ APR 0 3 2019 TAX ABATEMENT REPORT IeARLI\ii- H FOWL CITY CLERK,SOUTH BEND IN TO: South Bend Common Council FROM: Angelina Billo SUBJECT: Personal Property Tax Abatement Petition For: Chase Plastics Services, Inc. DATE: April 2, 2019 On March 25,2019 a petition for personal property tax abatement consideration for property located at 5245 Dylan Drive, South Bend,is filed with the City Clerk by Chase Plastics Services, Inc. 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 • Chase Plastics, a leading North American full-service specialty engineering thermoplastics distributor serving plastic processors throughout North and Central America, is planning to purchase and install new equipment at their distribution. Total estimated cost of equipment is approximately$823,000. The equipment will include storage racking, blending equipment and folk lifts. • Petitioner is qualified for a five-year personal property tax abatement. • Total taxes phased-in during a (5) five-year abatement period are estimated at $25,980. New project taxes will be $21,918. Total taxes to be paid over five years on the new and existing equipment are estimated at$31,859. EMPLOYMENT IMPACT Per this petition,the company will have nineteen(19)full-time jobs with an annual payroll of$775,384 by the end of 2019. It is estimated that in ten years the business will create twelve(12)new,permanent full- time positions and zero (0)part-time positions with an annual payroll of$475,280. ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted, finds that the petitioner, Chase Plastics Services, Inc has been granted or associated with one previous abatement. Term/Type Resolution No. Date 5-year personal property 4405-14 11/12/2014 2. The Area Plan Commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. 3. The Building Commissioner has reviewed the petition and finds no building permit was issued. 4. A review of the South Bend Redevelopment designation areas finds that the property is located in the River West Development Area. 5. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the qualifications for a(5)five-year personal property tax abatement under section 2-84.2,Tangible Personal Property Tax Abatement. oM OO _NCO v (o000 V 0 t _ _ CD �. (N to CO N 0) CO CO 0) CO }I O CO 05N 0 oO O N CO 0 (0 O CO 0) O CO N (x6N t1) CO CO 01 1- O (B N- A N-CO ( CO C() (o CO CO Z (6 0) N M Lo (() to L C• , N CO CO N C) CO CO CO OD 'Cr -CO0?� CO CO co. IC >- (O M C 1) N N N 0) 6) M to N-n N. 2 (O CO O CO N to ti N oM O O CO N o LO O t() CO 0 CO N 0 N '<I' M CO CO O O N- CO N O CO CO CO to CO Hti 0) N M C() A co N N CO to V 6) c- M M (0 M N N N C) } C6 L6 CD CO COV N Q co-O Co N N CO N t() * O OC) O O N OC) 0 CV CO (fl N O N to O (o N t U) CO 0) V O N co N O 0) N N CO h• CO O) 0) C) N CO C Z N co OD M CO 0) 00 'a O CO N LE } O CO '� N to to te Lli aC5 ~ r r O f` LO Cl) a) v C) v N-- ui U o .0.....F, N in h _p W To ff•�^^ Z a) V/ k Eo O NN- 0 O O� (0 6) O CV 0) COCO CD N _0 X � N NCO OON 0) O a) N N N N CO V 't CO CO Z O (6 CO CO CO CO Cr) CO X 4D } COO N N COO CO N M M .-- T d H O M O 6V M c t!) 7 X U/�.)� /l�n .`- �V V L C O(1) m Q. C ((1 O O o N Cf CO CO O CO a) CD CO CO CO CO CO C a) N- t- CO CO O CO (D CO •- )[ O CO COco() ( b' N U) 'C�, 0 N N O d' Co 0) O O o (a 0) CO C) O C) Cr) X OCl_ U ; CD CO N M r r LX H C) SIS V m < () c -. c as -o co C (a L. N di .. O C s cn • To o> U (O a- NM V to E 7 U (a (C) (C) (0 (0 7 (6 } (n co N n CO d Z Q co 0 o o m N _o) 0 0 YC CO CO o H co E o m x - (n 7 CD D N HUwTO Cr) m > aa) C L Cn T CD C CDO O 0) O co .- Cl E c (6 d (0 Z (u 3 v > ••• m 0 E 8 (0 o : . xx xU Ya) `3 oa) UF:5-1-U3 CC _� > > a) (n (6 .° 0) () 0 ate) a) ` o Lij ( co aTD ci ami n m a m (n m Cl) O S E ¢ C H m ('� =a Ce x N w h < < Jaz d - 03 2z mUDU L CO W yQQ E U CI)) -3 } V I U? - CD CO D co CC)co i r 3 �. "� Y 1 U m J Q CJ J U iii OC Filed in Clerk's Office BILL NO. 19-20 APR 0 3 2019 KAREEMAH FOWLER RESOLUTION NO. CITY CLERK,SOUTH BEND,IN A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 5245 Dylan Drive, South Bend, IN 46628 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (5) FIVE-YEAR PERSONAL PROPERTY TAX ABATEMENT FOR Chase Plastics Services, Inc. WHEREAS, a petition for personal property tax abatement consideration has been filed with the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, requesting that the area commonly known as 5245 Dylan Drive, South Bend, Indiana, and which is more particularly described as follows: Business Personal Property and which has Key Numbers to be assigned and be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et seq., and South Bend Municipal Code Sections 2-76 et seq., and; WHEREAS, the Department of Community Investment has concluded an investigation and prepared a report with information sufficient for the Common Council to determine that the area qualifies as an Economic Revitalization Area under Indiana Code 6-1.1-12.1, et seq., and South Bend Municipal Code Sections 2-76, et seq., and has further prepared maps and plats showing the boundaries and such other information regarding the area in question as required by law; and WHEREAS, the Community Investment Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds pursuant to Indiana Code 6- 1.1-12.1-4.5 et seq., that: a. The estimate of the cost of the new manufacturing equipment is reasonable for equipment of that type; b. That the estimate of the number of individuals that will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed installation of new manufacturing equipment; c. That the estimate of the annual salaries of those individuals that will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed installation of new manufacturing equipment; d. Any other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed new manufacturing equipment; and e. The totality of benefits is sufficient to justify the deduction requested. SECTION II. The Common Council hereby determines and fmds that the proposed new industrial equipment can be reasonably expected to yield the benefits identified in the Statement of Benefits as set forth in Sections 1 through 3 of the Petition for Personal Property Tax Abatement Consideration and that Statement of Benefits form completed by the petitioner, said form being prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under Indiana Code 6-1.1-12.1-4.5. SECTION III. The Common Council hereby accepts the report and recommendation of the Department of Community Investment, and the Community Investment Committee's favorable recommendation, that the area herein described be designated as an Economic Revitalization Area for purposes of personal property tax abatement and hereby makes such a designation. SECTION IV. The Common Council determines that such designation is for personal property tax abatement only and shall be limited to three(3)calendar years from the date of the adoption of this Resolution by the Common Council. SECTION V. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of (5) five years as shown by the schedule outlined below as well as the attachment pursuant to Indiana Code 6-1.1-12.1-17. Year 1 - 100% Year 2 - 90% Year 3 - 80% Year 4 - 70% Year 5 - 60% 2 SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to Indiana Code 5-3-1, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. Tim Scott, Council President South Bend Common Council 3 Fflrrt in Clem'. City of South Bend :_•� Petition for Incentives ry` 2119 Petition must Include a$250 filing fee payable to the City Clerk's Office or online via the City's website at http://southbendin.gav/goverrunent/content/role-abotementbefore processing can be complete v1r1Hr=�, LEfi General Information Project Name I Project Numbetr r?;,. legal name as registered with Secretary of CBK Land Development LLC(Real Property)Chase Plastic Services, Inc.(Personal Property) state Business structure Limited Liability Company/Corporation Company website www.chaseplastics.coca Proposed Project Information proposed protect address 5245 Dylan Drive Parent company name Chase Plastic Services, Inc. City,State,Zip South Bend, IN 46628 Legal owner CBK Land Development Site acreage or acreage required 9.55 Acres Is the real estate owned or Owned teacart Square feet of facility 78,880 sq. ft. addition If leased by whom N/A Primary Contact information Primary company contactname Robert Hoff Tile Business Process Manager Address of company contact 6467 Waldon Center Dr. Plane 248-620-8302 City,State,Zip Clarkston, MI 48346 Email bhoff@chaseplastics.com Senior Official Information company`enl°`official name Kevin Chase t'"e President Address of company contact(If different from Same as Above Phone 248-620-2120 above) City,state,Zip Same as Above Email kchase@chaseplastics.com Consultant Information/Agent Hired business consultant/agent name 1.70;;;;;;TEZ-Iciers,Inc.-Rtck Slagle Consultant release(Y/N) Yes Address 62900 U.S. 31 South Local economic development partners Yes approvaltY/N City State,Zip South Bend, IN 46614 email I rick@majoritybuilders.com Project Overview Brief description of your company,project,and why the Chase Plastics is a leading North American full-service specialty engineering thermoplastic distributor property is necessary for serving plastlm processors throughout North and Central America.This application is submitted due to economic growth Chase Plastics'desire to expand its current 126,000 sq.IL distribution center by an additional estimated 30,000 sq.ft. Alter erecting our etdslbig building in 2015,business conditions have put our operation at near capacity causing the need to expand and maxlmbe the use of the previously purchased land,With this expansion, we will add additional Huck dock doors and increase our overall volume by 65%. CHASE PLASTIC SERVICES.INC.WILL CONTINUE TO BE THE TENANT OF THE BUILDING LEASING FROM THE BUILDING OWNER CBK LAND DEVELOPMENT LLC.THE OWNERSHIP OF THESE TWO ENTITIES ARE CLOSELY HEW. Certified Technology Park appropriate Is the project In a Tax Incremental Financing LTIF I area?lfse.whicti? _ Certify that the eullding•Perenit has not been Number of residential units created by Wood kW molest If this Is a petition for personal property tax abatement,has the equipment been installed Investment Details Public Infrastructure needs(Off- Has any 504 funding been What is the value of any equipment being purchased in What is the value of any equipment being i site of protect In dollars) received? ndlana fur the project? purchased from out of state far the protect? New Protect Investments Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026 Land Acquisition Building Lease Payments Building Purchase Costs New Building Construction brisling Building Improvements S a.aoo,CCO CO New Macliinery&Equipment $497,000.00 $90,000,00 3 53,000,00 5 60,000.00 $10,000.00 3 95,000.00 5 10,3C0.00 0.3n,000 11) Special Tooling/Retooling New Furniture/Fixtures $8,000.00 $2,500.00 $5,000.00 New Computer/IT Hardware $20,000.00 $23,000.00 3 10,000.00 $10,000-00 New Software $5,000,00 3-3.000.00 .$10,000.00 $15,000.00 Onsite Rall infrastructure On.stte Fiber Infrastructure TOTAL I s 4.000,DC0.00 $120000.00 $35,500.00 S 80,000.00 $10,000.00 S 40,000.00 S 36,000:00 S 35,000.00 Full-Time Permanent Indiana-Resident Positions by Calendar Year Calendar Year Jobs retained Total hourly Cumulative C of net NEW full time Hourly average wage,w/o Total training Total la to be wage w/o permanent jobs ereatod at project benefits or bonuses,of expenditure- trained-not fringe or cumulative net new jobs not cumulative bonuses cumulative I 2019 18 19.62 1 2020 2 17.00 2021. 2022 1 19.00 2023 0 17.50 2024 2 19.50 2025 1 20.00 2026 1 18.50 2027 0 202B 2 20.50 2029 1 19.00 2030 1 21.00 Provide hourly wage Information for new employees In the following positions. Full time Part time Laborers 17.00 III Technical Managerial Administrative 18 50 'Who will ue the Individual resppnsib"e for coordinating with WorkOne on recrulting? Ones your company hove an EEO hiring policy?j Yes Are you an EEO employer? Yes Please list the number of full time and part time minority and/or female employees for each of Please describe your commitment to the last three years; diversity and'Weston by detailing your Year 2018 and recruitment efforts for the last 2018 2018 2018 three years as well as current policies. Full Time Part Time full Time Part Time Full Time Part Time Black 5 5 5 — Hispanic 1 1 1 Asian 1 Indian Female d 3 3 Other Complete below for Real or Personal Property Tax Abatement only. Please sign for all requested incentives. Public Benefit Item: information is required on both the construction companies and the companies which will provide materials purchased for this project. Please complete the table below with the appropriate information. If Qualify Earne:4141n10 Ava(labie Points (Yes or No) you qualify for the points,please enter the full amount of available points. 1 Construction Related_(Contracto, 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) No >2 E. Require Health Benefits YES 22 22 F. Require Pension Benefits NO 18 S. Maintain Affirmative Action Plan YES 20 20 IISub-total Construction Related: 101 2 wage&Benefit Routed(Owner)- A. Pay Target Wage Levels YES 33 B. Provide Health Benefits YES 34 '4 C. Provide Pension Benefits YES 29 D, Provide Training YES 28 28 E. Provide Child Care NO F. Provide Transportation Assistance NO 14 G. Provide Employer Assisted Housing-program NO 9 Sub-total Wage&Benefit Related: 124 1,2 3 Workforce Related: A. Create New Jobs YES 42 42 I B. Retain Existing lobs YES 41 41 C. Maintain Affirmative Action Plan No 0 35 D. Provide Targeted Hiring Preference 't1�``�o 34 Sub-total Workforce Related: 83 152 4 Support a Municipal Facility: Support a 5B Municipal Facility[donations to the A. zoo,conservatory,museum,etc.) �S 84 84 Name of Facility Polawalomi Zoo 1 I ISub-total Municipal Facility: as ?•: Sub-total from Above: .72. 5, The undersigned owner(s)of real property,located within the City of South Bend,herby petition the Common Council of the City of South Bend for a real and/or personal property tax abatement consideration and pursuant to I.C.,6-1.1-12.1-1,et seq.,and South Bend Municipal Code Sec.2-76 et seq.,for this petition state the above. Subnittted By: c"--- !Date; 3/2-z/( 9 For Staff Use Only Below This Line What is the current assessed value? Real Property: 3 Y/+c r r o Personal Property: 3 9 7 7 XL What Is the projected assessed value? Real Property: 3 QL, a7bU Personal Property: ----,573- OO Q What is the tax key number for this project? 0„ 5.-- - '! /Of _ r�/� !� What Is the six digit NAICS rode? i,A/6'-( rei(4-L'AT &a-5,4'C%';-PP)/ 3 1(0 i/Sz.,6;1---1-,613) Y - Please attach a Google map and street view of the location. Please list the amount of real and personal property taxes Real Property Taxes: Personal Property Taxes: paid for the last five years when applicable. �y / /� 2 +�U/LJ/K Year One 1/6-'3 7 '1ST/%_ UJ 7.3 s' ,U?/./ `/� Year Two 75, g'. 5-- ` 3- 5C .r "_ Y/ ow//' ////i• Year Three ‘'// 392 5� / f�(� ^ a-0 162/67/.6;(J /! Year Four ., ©/�_ / ?0 404,/ [ /Year Five if / L" �� Please fill out the following Public Benefit Summary Information and add to total from above. pi or N) Points Points Public Benefit Item: Prgject Related: 5 A. Redevelop a Site that has Special Needs 49 B. 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 cumulative): A. 100%to 199% .,6— 25 B. 200%to 299% O'er 68 C. 300%to 399% 6D 6- 65 D. 400%and Over 52 Sub-total Super Size Projects: /6' , 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 Sub-total Infrastructure Related: �,5 cf 131 Total from Applicant Section: 3 jZ 539 Total from Staff Section: (,5-8 461 Total Public Benefit Points: 6-6-r2 . 1000 Filed in Clerk's Office I � ?''''',•,-.:-A � 4,� STATEMENT OF BENEFITS i MAR 2 5 2019 FORM 58-1 /PP -A PERSONAL PROPERTY a,.•.y Stats Form 51764(R4111-15) r- - Prescribed by the Department of Local Government FIMnce ht'`'`r ' r ?`` �' PRIVACY NOTICE rlT'r CLERK,SOUTH BEND,i ' Any Information concerning the cost -- - • of the property and specific solaria.)paid to individual employees by the property owner Is Conildenital per IC:6-r.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 en Economic Revitalrzotion 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 end 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 certdied deduction schedule (Form 103-ERA)with the township assessor of the township where the property Is situated or with the county assessor,them is no township assessor for the township. The 103-ERA must bo flied between January 1 and May 15 of the assessment year In which new manufacturiny equipment and/or research and development equipment and/or logistical distribution equipment and/or Information technology equipment/s installed end fully functional,unless a filing extension has been obtained. A person who obtains a filing extension must life the famr 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/YP annually to show compliance with the Statement of Benefits, (IC 6.1.1-111-5.6) 5. For a Form SB-1/PP that is approved after Juno 30,2013,fhe Ueslgnairlg body Is required to establish an abatement schedule for each deduction ailowed Fora Form S8-1/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) f SECTiON 1 TAXPAYER INFORMATION Name of taxpayer Nemo of cantectperaon ! Chase Plastic Services, Inc, Lacie Andrew Address cf taxpayer(number endstrae(cIN state,end ZIP ccdo) Telephone number 5245 Dylan Drive South Bend, IN 46628 248-630-7784 SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Nome of designating body Resolution number(s) Chase Plastic Services, Inc. Location of property I County DLGF taxing district number 5245 Dylan Drive South Bend, IN 46628 St.Joseph County 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 it necessary) Manufacturtng Equipment R a D Equipment Racking, Forklifts, Computer technology and material handling equip LogtatDiet Equipment May 2019 March 2020 IT Equipment May 2019 March 202 SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT Currentcumber Seisms Number retained Salaries Number additional Satanic. 18 $847,000 18 3847,000 13 $520,000 SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT NOTE:Pursuant to IC 6-1.1-12,1-6.1(d)(2)the MANUFACTURINGR&D 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 •• I, II Plus estimated values of proposed project $608;,0 t■ $9b,UUU Less values of any properly being replaced Net estimated Values upon completion of project I o maw SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER EstImatedsolld waste converted(pounds) Estimated hazardous waste converted(pounds) Other benefits: SECTION 6 TAXPAYER CERTIF!CATION I hereby certify That the representations in this statement am true. Slpnelyregaullar+zad r en 'vn-----� Date atgne4(month,dolt year) �. 31z. 9 print a of au zed repreaeen ve Y_`?)e- 1--k..1--r. I TM IRs rwL'� "fr6s i—te� C, Page 1of2 I • FOR USE OF THE DESIGNATING BODY We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the general standards adopted in the resolution previously approved by this body. Said resolution, passed under IC 6-1.1-12.1-2.5,provides for the following limitations as authorized under IC 6-1.1-12 1-2. A.The designated area has been limited to a period of time not to exceed calendar years"(see below).The date this designation expires is NOTE:This question addresses whether the resolution contains an expiration dale for Ina designated area. B. The type of deduction that is allowed in the designated area is limited to: i. Installation of new manufacturing equipment; ❑Yes ❑N o ❑ Enhanced Abatement per IC 6-1.1-12,1-18 2,Installation of new research and development equipment; ❑Yes ❑N o Check box if an enhanced abatement was 3.Installation of new logistical distribution equipment. ❑Yes ❑N o approved for one or more of these types. 4.installation of new Information technology equipment; ❑Yes ❑No C.The amount of deduction applicable to new manufacturing equipment is limited to$ cost with an assessed value of 5 (One or both lines may be filled out to establish a limit,if desired:) D.The amount of deduction applicable to new research and development equipment is limited to$ cost with en assessed value of $ . (One or both lines maybe filled out to establish a limit if desired.) E.The amount of deduction applicable to new logistical distribution equipment Is limited to$ cost with an assessed value of $- . (One or both lines may be filled out to establish a limit,If desired.) F. The amount of deduction applicable to new information technology equipment is limited to$ cost with art assessed value of $ . (One or both lines may be plied out to establish a limit,if desired) G. Other limitations or conditions(specify) H. The deduction for naw 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 0 Year 2 ❑ Year 3 0 Year 4 0 Year b 0 Enhanced Abatement per tC 6-1.1-12.1-Ill Number of years approved: ❑ Year 6 ❑ Year 7 0 Year 8 0 Year 9 0 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 6-1.1-12.1-177 ❑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. Approved by;(slgnefure and Cie of authorized member ofdesignetng body) Telephone number case signed(monlb,day,year) Printed name of authorized member of destgnaung body Name of deslgnatinp body Attested by:(aignalwe and dile al attester) Printed name of attester "lithe designating body limits the time period during which en area Is an economic revitalization area,that limitation does not limit the length of Ume a taxpayer is entitled to receive a deduction to a number of years that Is less Than the number of years designated under IC 841-12.1-17. 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 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-tune equivalent)obs created. (3)The average wage of the new employees compared to the state m'nimum wage. (4)The Infrastructure requirements for the taxpayer's invealmeni. (b)This subsection applies to a statement of benefits approved after June 30,2013,A designating body.shag 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. An abatement schedule may not exceed ten(10)years. - (c)An abatement schedule approved for a parttcutar 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 berefits. Page 2 of 2