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HomeMy WebLinkAboutBill 16-19 Property Tax Abatement for Spectron mrc LLC227 W. JEFFERSON BOULEVARD SUITE 1400 S. SOUTH BEND, IN 46601 -1830 March 8, 2016 CITY OF SOUTH BEND PETE BurriGIEG, MAYOR COMMUNITY INVESTMENT Scow FORD, ExEcuTIvE DIRECTOR Council Member Gavin Ferlic, Chairperson Community Investment Committee South Bend Common Council 4th Floor, County City Building South Bend, IN 46601 RE: Personal Property Tax Abatement Petition for: Spectron mrc, LLC. Dear Council Member Ferlic: PHONE: 574/235 -9371 FAx: 574/235 -9021 Please find the attached information pertaining to a personal property tax abatement petition for Spectron mrc, LLC: ➢ Department of Community Investment's summary report Copy of the petition ➢ Statement of Benefits form Supporting information. The report contains the Department's findings relative to the above petition. Spectron mrc, LLC will be investing approximately $2,780,000 in the purchase of new pharmaceutical equipment. Spectron mrc, LLC will be leasing space in the newly constructed Ignition Park Catalyst Two building. The project meets the qualifications for a (5) five year personal property tax abatement. A representative from Spectron mrc, LLC will be available to meet with the Committee on Monday, March 14, 2016. 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. Sincerely, /� 000e4 l4/ Aaron Kobb Director of Economic Resources Filed in Clerk's Office MAR 0 9 2016 KAREEMAH FOWLER CITY CLERK, SOUTH BEND, IN PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT EcoNOMic RESOURCES PAMELA C. MEYER BRIAN PAWLOWSKI AARON KOBB RESOLUTION NO. 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 1265 Franklin, Catalyst Two Building, Ignition Park, South Bend, IN 46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (5) FIVE -YEAR PERSONAL PROPERTY TAX ABATEMENT FOR: Spectron mrc, LLC 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 1265 Franklin, Catalyst Two Building, Ignition Park, South Bend, IN 46601 and which is more particularly described as follows: Business Personal Property and which has a Key Number to be assigned be designated as an Economic Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 et sue., and South Bend Municipal Code Sections 2- 76 et seg., 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 §N., 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 sec ., 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 C. The totality of benefits is sufficient to justify the deduction requested. SECTION II. The Common Council hereby determines and finds that the proposed new 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 two (2) 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 attachment pursuant to Indiana Code 6 -1.1- 12.1 -17. 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. Member of the Comm C�VRSlin uew'S umce + RESENTED NOT APPROVW MAR 0 9 2016 ,kDOPTGD KAREEMAH FOWLER 2 CITY CLERK, SOUTH BEND, IN TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: AARON KOBB SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: Spectron mrc, LLC DATE: March 8, 2016 On Monday, March 7, 2016, a petition from Spectron mrc, LLC was received and subsequently filed with the City Clerk for personal property tax abatement consideration for property to be located at 1265 Franklin, Catalyst Two Building, Ignition Park, South Bend, IN 46601. 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 ➢ Purchase of approximately $2,780,000 of new pharmaceutical equipment. ➢ Estimated total taxes on new equipment over the five abatement period — $238,487 ➢ Estimated taxes abated on new equipment over the five abatement period — $109,315 ➢ Estimated taxes to be paid on new equipment over five year abatement period — $129,172 EMPLOYMENT IMPACT Per the petition, it is estimated that the total project will: ➢ Create 39 permanent, full -time jobs within the five year abatement period, representing a new estimated annual payroll of $2,022,592 ➢ 8 total jobs will be retained with a total annual payroll of $582,400 PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES PAMELA C. MEYER BRIAN PAWLOWSKI AARON KOBB ABATEMENT QUALIFICATION A review of the tax abatements previously granted, finds that the petitioner has not been granted or associated with any previous abatements. 2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. 3. 1 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 (5) five -year personal property tax abatement under section 2 -84.2, Tangible Personal Property Tax Abatement. RESOLUTION NO. A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 1265 Franklin, Catalyst Two Building, Ignition Park, South Bend, IN 46601 AS AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR Spectron mrc, 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 1265 Franklin, Catalyst Two Building, Ignition Park, South Bend, IN 46601 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 sea. 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. Member of the Common Council RESOLUTION NO. 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 1265 Franklin, Catalyst Two Building, Ignition Park, South Bend, IN 46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (5) FIVE -YEAR PERSONAL PROPERTY TAX ABATEMENT FOR: Spectron mrc, LLC 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 1265 Franklin, Catalyst Two Building, Ignition Park, South Bend, IN 46601 and which is more particularly described as follows: Business Personal Property and which has a Key Number to be assigned 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 Sec,., 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 sec l., 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 The totality of benefits is sufficient to justify the deduction requested. SECTION H. The Common Council hereby determines and finds that the proposed new 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 two (2) 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 attachment pursuant to Indiana Code 6 -1.1- 12.1 -17. 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. Member of the Common Council 2 .-1 o u)I T0000 o NtOh 0 o N co M N N CX6 .� OI-- O CA I- N O co LO 0 m O M N co 000 co N 00 Z F M T u) L a } N C, co V. O C6 p O N r O r co T�o V' NO000 o CA 00 0 o N OTT O N M N N CX6 .� OI-- O CA I- N N LO 0 m O 000 O V: co w CO N tO N co to tq CA 00 Z F M T u) L a ti N } co V. X 11: �''t T M CO N 0 as C6 r t6 to0tOO d' v t`- V-M N t a N u) O U � V U N r r `- T w c c 0 o M) 000lco, 0 � CAOCA m a 000 CD NI rCAI - M LO to to O} N tO CO O O O 0 T CO CO CA r Cfl I `CACO 00 I` Cfl F tOM N N h N N O I� O N M } Ner- M co 00 ¢ 00 L V'0 N to T CO to � � V'V' V'CV0 ell W I � >U a »- N y N to O to a. Z Q 0 a tv T Y N X �j N N HUW 2 m N CO) N C O o d m o a > >O�> cLj L U a j 0 y 49 m Y m L L ca N CN to .� .. m g V m m m NyyEa me -mom+ fY6U�U (� O m N o 8 �aQZ aUz ppU ❑U ._ to � O y i ) U O m00 0 o N 00000 O N M N ONE - I-- C) N [-- CO N N V I-' O woo N O VO' COO COO co X 000 } C6 M M co d0' 00 r t`- a CA M CO ui U � V U N r `- w c c m a CD cc � U p �I rNM IT V) j } L L L L L N N N M M to > 00 F'^ 00 L V'0 N TO000 N 00 � � co CO E ell C � O f6 n r ui co aa) a G a �- A C � .0-0 Z66 N _C E � ACV m Q CXpa O � 00 °a tq N U ¢ a) ui 7 CU t0 cr1 E C 7 Ma � 3 a >U a »- N y N to O to a. Z Q 0 a tv T Y N X �j N N HUW 2 m N CO) N C O o d m o a > >O�> cLj L U a j 0 y 49 m Y m L L ca N CN to .� .. m g V m m m NyyEa me -mom+ fY6U�U (� O m N o 8 �aQZ aUz ppU ❑U ._ to � O y i ) U O CO tO N N 0 0 O N M N ONE a l6 Z M N �Orjl- OOtOtO f� N [-- CO N N V O m �cotO V'M a~ 'TtOOM VO-M U ca X Xy W M O co M m 0 0 or- 00 °-' C) co M O r CO ut�) N N I- a l6 Z 0 C6 N [-- CO N N V > a~ 'TtOOM VO-M N ca X w r c U � C NX 00000 O O � w c m a cc � U p �I rNM IT V) j } L L L L L N N N M M to > m � � o m � C � O f6 N co aa) a A C � .0-0 Z66 N _C E � °a tq N 7 CU E 7 Ma � 3 Spectron mrc, LLC; Spectron Equipment, LLC; Spectron Land, LLC Delaware LLCs www.spectronmrc.com ac carx� i tads ratalyst Two; Ignition Park, Gregory S. Hiatt 17490 Dugdale Drive Spectron mrc, LLC Gregory S. Hiatt leased President(CEO /Man 574 - 271 -2800 Indiana 46635, g.hiatt@spectronmrc.comorTAR( Gregory S. Hiatt Prssident/CEO/Managing Director same none iMs r� f► M. FNA Spectron mrc, LLC is a PET (positron emission tomography) radiopharmacy and radlophannaceutical manufacturer. The company operates a cyclotron that creates positron emitting radioactive Isotopes for the use In manufacturing pharmaceuticals used in nuclear medicine departments within hospitals and clinics. Additionally, Spectron mrc, fills prescriptions written by focal physicians and distributes the prescriptions to the hospitals and clinics involved. In addition to the hospitals and clinics using PET radiopharmaceu0cals, they also need and use, on a daily basis, a different radionuclide for nuclear cardiology, nuclear bone imaging, lung, liver and kidney diagnostic studies. The radionuclide needed is Technetium -99m and has had periods of product interruption over the last several years with the product shortage situation predicted to get more severe in the years going forward. The new business is to operate a higher energy cyclotron and produce the technetium -99m. The business plan is to distribute compounded radiopharmaceuticals using the technetium -99m produced in our cyclotron. The hospitals and clinics being serviced by our radiopharmacy (which Is a 2 to 3 hour delivery radius) wont be subject to the world wide shortages. This business advantage these health care providers will have will improve 1 cap neetpc� reputation of the focal health care facilities given that these healthcare providers will no have a¢) �pp��S t other non - associated health care providers will have. The hospitals are very supportive f this I, already signed long term supply /purchase agreements with Spectron mrc. In the years ahead. Spectron mrc will be able to produce and supply other research, diagnostic aril theraoeutic LYES I'IAK u Y 1016 Is co ns 10 n o equipment has not been purchased nor installed IN New Project Investments Calendar Year TOTAL 2015 2016 2017 2018 2019 2020 2021 2022 Full -Time Permanent Indiana- Resident Positions by Calendar Year i,7 i14'C3,13i'ra�llf�b.. � �I�t�,f'��1"Xlt.2�3ls3 i a.Li`T,Yu;y�'.YJ �3"�`C Provide hourly wage information for new employees in the following positions. Please list the number of full time and part time minority and /or female employees for each of the last three years: E.= Complete below for Remora rsonal PropCRTxAbatement omw Please sign for all requested incentives. , -,; Gregory S Hiatt ;'' Staff Use Only Please fill out the Public Benefit Summary Information and add to the total from above. 1) How do I pay my petition filing fee? Your petition filing fee can be paid either in person or via mail to: Or online via paypal at: City Clerk's Office hq .- Ilsouthbendin.govlgovernmentl Ann: Deputy City Clerk content /tax- abatement 227 West Jefferson Blvd. • Suite 400 S South Bend, Indiana 46601 2) Certified Technology Park appropriate? (Page one, under project overview) In the South Bend area there are only two Certified Technology Parks, Innovation Park and Ignition Park. If your property is not located in either then the answer would be no. 3) Community Revitalization Enhancement District? (Page one, under project overview) The map below outlines the CRED area, please check to see if you fall within the boundaries. W Edward 1 Legend ses MCREaD Dishiet Q Q South Bend Parcels 4) Has any 504 funding been received? (Page one, under investment details) 504 Funding is a loan that come from the Small Business Administration. This funding must be applied for to be received. 5) Total training expenditure - not cumulative (Page two, under full time Indiana resident positions) The amount of money to be spent per year on training over the course of the project. 6) Total number to be trained - not cumulative (Page two, under full time Indiana resident positions) The amount of people that you will train per year over the length of the project. Ifyou have any additional questions that are not addressed by this document; please contact Sarah Heintzelman in the Department of Community Investment at 574.235.5842 or email at seint��southbendingov sample E Kerr Ohio" - Y Garst.:. _. 0 / IgnNOn Broadway Haney _ Indtens r AL 4) Has any 504 funding been received? (Page one, under investment details) 504 Funding is a loan that come from the Small Business Administration. This funding must be applied for to be received. 5) Total training expenditure - not cumulative (Page two, under full time Indiana resident positions) The amount of money to be spent per year on training over the course of the project. 6) Total number to be trained - not cumulative (Page two, under full time Indiana resident positions) The amount of people that you will train per year over the length of the project. Ifyou have any additional questions that are not addressed by this document; please contact Sarah Heintzelman in the Department of Community Investment at 574.235.5842 or email at seint��southbendingov STATEMENT OF BENEFITS FORM SB -1 ! PP� PERSONAL PROPERTY State Form 51764 (R2 / 12 -11) Prescribed by the Department of Local Government Finance PRIVACY NOTICE The cost and any spaollic indhr duars salary information is confidential; the batanoe of the Ming is public record lNSTRUC7/ONS: er IC 8 .1-12.1-5.1 c and (d). 1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public If if the designating body requires information from the applicant in making its decision about whether to designate an Economic Revializaton Area. Otherwise this statement mustbe submitted to the designating body BEFORE a person Installs the new manufacturing equipment and /or research and development equipment, endUor logistical distribution equipment and/or Information technology equipment for which the person wishes to claim a deduction. Projects "planned or committed to after July 1, 1987, and areas designated after July 1, 1987, require a STATEMENT OF BENEFITS. (!C 6 -1.1 -12.1) 2 Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to Installation of the new manufacturing equipment and/or research and development equipment and/or logistical distribution equipment be approved and/or information technology equipment, BEFORE a deduction may S. To obtain a deduction, a person must file a certiried 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 It there is no township assessor for the township. The 103 -ERA must be filed between March 1 and May 15 of the assessment year in which new manufacturing equipment and/orresearch 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 riling extension must file the form between March 1 and the extended due date of that year. 4. Property owners whose Statement of Benefits was approved after June 30, 1991, must submit Form CF -1 / PP annually to show compliance with the Statement ofBenetds. (106 -1,1- 12,1 -5.6) 5. The schedules established under1C 6- 1.1- 12.1- 4.5(d) and (e) apply to equipment installed after March 1, 2001, unless an alternative deduction schedule is adopted by the designating body (IC 6-1.1- 12.1 -17). Name of taxpayer SPECTRON mrc, LLC; SPECTRON LAND, L-C; SPECTRON EQUIPMENT, LLC Address of taxgaye'1%,1 nA- gjddstreef tale, and ZlPcode) 17490 Dugdsle rive; ou an , n Tana 466355 Name of contact person Gregory S. Hiatt number Name of designating body Resolution number s City of South Bend t ) Location of property Catalyst Two, Ignition Park; South Bend, Indiana County DLGF taxing district number Description of manufacturing equipment and /or research and development equipment ESTIMATED and /or logistical distribution equipment and /or information technology equipment. (use additional sheets if necessary) START DATE COMPLETION DATE Manufacturing Equipment May 16, 2016 June 13, 2016 D Equipment May 30, 2016 June 13, 2016 MANUFACTURING: 15 MeV Cyclotron to produce radionuclides, Targets for Cyclotron, Solid target transport syslat R ti, Logist Dist Equipment June 13, 2016 July 11, 2016 © iT Equipment May 30, 2016 June 13, 2016 Current number Salaries 9 employees (5 Prof FTEs, 3 $ 750,000.00 Number retained 9 employees Salaries $ 750,000.00 Number additional Salaries 50 New Employees in 4 to 5a $1212,000.00 New wages • s • • • • • • •-• NOTE: Pursuant to IC 64.1- 12.1 -5.1 (d) (2) the MANUFACTURING E UIPMENT R & D EQUIPMENT LOGIST DIST IT EQUIPMENT EQUIPMENT T COST of the property is confidential. COST ;ED COST ���D COST ASSESSED ASSESSED COST VALUE Current values $2,300,000.00 $1,100,000.00 $150,000.00 $70,000.00 $60,000.00 $25,000.00 $45,000.00 $10,000.00 Pius estimated values of proposed project $Z780,000.00 $ 50,000.00 $60,000.00 $27,000.00 Less values of any property being replaced $180,000.00 $15,000.00 L $6,000.00 Net estimated values upon completion of project $3,700.000.00 $105,000.00 1 $79,000.00 $7,000.00 $30,000.00 Estimated solid waste converted (pounds) Other benefils: Estimated hazardous waste converted (pounds) Local supply of radiopharmaceuticals required by local hospitals and clinics that are expected to be in short supply world wide In the next few years. Enhances the communities I hereby certify that the representations in this statement are true. Signature of authorized representative oana oava M�w� s "na Title Gregory S. Hiatt °N ""0°"` "`�°�°�°""°""" Dale signed (month, day, year) 9 ryM,, President 2!2912016 Page 1 of 2 Wa have reviewed .our prioractions felatirtg to the designation of this economic revitalization area and fipd that the applicant meets the -general standards adopted In the resolution previously approved by this body. Said resolution, passed under IC ti -h.1 -12.1 2.5, provides for the following limitations as authorized under IC 8-1:1- 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 B . The type of deduction that is allowed in the designated area is limited to: 1. Installation of pew manufacturing equipment; 93 Yes ® N o 2. installation of new research and development equipment; 1 Yes 13 N o 3. Installation of new logistical• distribution equipment. ® Yes O.N o 4. Installation of new information technology equipment; lC]Ye s ❑ N o C. The amount of deduction applicable to new manufacturing equipment is limited to $ cost with an assessed value of D. The amount of deduction applicable to new research and development equipment is limited to $ cost with an assessed value of E . The amount of deduction applicable to new logistical distribution equipment is limited to $ $ cost with an assessed value of F. The amount of deduction applicable to new information technology equipment is limited to $ cost with an assessed value of C% Other limitations or conditions (speclty) 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 on or after July 1, 2000, is allowed for ID 1 year ❑ e years " For ERA's established prior to July 1, 2000, onix a 2 years ❑ 7 years 5 or 10 year schedule may be deducted. El 3 years ❑ 8 years ❑ 4 years ❑ 9 years []I 5 years '* ❑ 10 years " 1. Did the designating body adopt an alternative deduction schedule per IC 6 -1.1- 12.1 -17? ED Yes EI No If yes, attach a copy of the alternative deduction schedule to this form. 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. Approvea: (signature ana rare or earnonzea memoeq Telephone nunffier Date signed (month, day, year) Attested by: Designated body * If the designating body limits the time period during which an area is an economic revitalization area, it does not limit the length of time a taxpayer is entitled to receive a deduction to a number of years designated under IC 6- 1.1=12.1 -4.5 Page 2 of 2 STATEMENT OF BENEFITS FORM SB -1 / PP PERSONAL PROPERTY State Form 51764 (132 / 12 -11) SPECTRON mrc, LLC March 1, 2016 SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Description of manufacturing equipment and /or research and development equipment and /or logistical distribution equipment and /or information technology equipment. MANUFACTURING: 15 MeV Cyclotron to produce radionuclides, Targets for Cyclotron, Solid target transport system, solid target dissolution and separation system, synthesis boxes, hot cells with robotic manipulators, mini cells, gas chromotography, HPLC, TLC, multi channel analyzer, single channel analyzer autoclave, incubator, automated limulus reagent testing system, ph test meter. Lead "L" shields, syringe shields, dose calibrators, GM meters, area monitors, stack and air monitors, filtering system. IT EQUIPMENT: Server upgrade for accounting, desk top data entry computers for accounting /book keeping /payroll/ order entry /billing, server for pharmacy system with seven single station systems for unit dose dispensing, several independent computers for the operation of the technical manufacturing and research equipment. R and D: Electronic balances, microscope both conventional and electronic, rockers, vortex stirrers, micro pipettes, centrifuges both small test tube and large, glassware. Logistical Distribution Equipment: Vans and /or cars for medical delivery, special radioactive material reusable and disposable delivery containers, tungsten and lead syringe carriers to be used with delivery containers, tungsten and lead vial shields to be used with delivery containers. Charging stations for electric delivery vehicles