HomeMy WebLinkAboutBill 16-21 Tax Abatement for South Bend Form Tool Co., Inc227 W. JEFFERSON BOULEVARD
Sum 1400 S.
SouTH Bmm, IN 46601 -1830
March 8, 2016'
CITY OF SOUTH BEND PETE Bv. TTIGIEG, 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
PHONE: 5741235 -9371
F= 574/235 -9421
RE: Real Property Tax Abatement Petition for: South Bend Form Tool Co, Inc.
Dear Council Member Ferlic:
Please find the attached information pertaining to a real property tax abatement petition for
South Bend Form Tool Co., Inc.:
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. South Bend
Form Tool Co., Inc. will be investing approximately $220,000 in the expansion of their
current floor space along with purchasing and installing approximately $623,000 of new
equipment. This expansion will grow their current customer base and allow them to pursue
additional business from new customers. The project meets the qualifications for a (5) five
year real property tax abatement. A representative from South Bend Form Tool Co., Inc.
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,
Aaron Kobb
Director Economic Resources
Filed in Clerk's Office
MAR 0 9 2016
KAREEMAI-I FOWLER
CITY CLERK, SOUTH SEND, 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
1619/1623 Franklin Street, South Bend, IN 46613
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
(5) FIVE -YEAR REAL PROPERTY TAX ABATEMENT FOR
South Bend Form Tool Co., Inc.
WHEREAS, a petition for real 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 1619/1623 Franklin Street, South Bend, IN 46613
and which is more particularly described as:
N'/ LOT 36 STULLS 5TH ADD
S %2 LOT 36 STULLS 5TH ADD
and which has Key Numbers 018 - 8028 -1127 and 018 - 8028 -1128 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 sse., and;
WHEREAS, petitioner has agreed to and has accepted responsibility to report any changes
in the final legal description and to report the final, appropriate Key Number to the Department of
Community Investment and to the Office of the City Clerk; 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 that the Petition for Real Property
Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the
requirements of Indiana Code § 6 -1.1 -12.1 et seq., for tax abatement.
SECTION II. The Common Council hereby determines and finds the following:
A. That the description of the proposed redevelopment or rehabilitation meets the
applicable standards for such development;
B. That the estimate of the value of the redevelopment or rehabilitation is reasonable
for projects of this nature;
C. That the estimate of the number of individuals who will be employed or whose
employment will be retained by the Petitioner can reasonably be expected to result from the
proposed described redevelopment or rehabilitation;
D. That the estimate of the annual salaries of those individuals who will be employed
or whose employment will be retained by the Petitioner can be reasonably expected to result from
the proposed redevelopment or rehabilitation;
E. That the other benefits about which information was requested are benefits that can
be reasonably expected to result from the proposed described redevelopment or rehabilitation; and
F. That the totality of benefits is sufficient to justify the requested deduction, all of
which satisfy the requirements of Indiana Code § 6 -1.1- 12.1 -3.
SECTION III. The Common Council hereby determines and finds that the proposed described
redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the
Statement of Benefits, Sections 1 through 3 of the Petition for Real Property Tax Abatement
Consideration and the Memorandum of Agreement between the Petitioner and the City of South
Bend, and that the 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 -3.
SECTION IV. The Common Council hereby accepts the report and recommendation of the
Community Investment Committee that the area herein described be designated as an Economic
Revitalization Area and hereby adopts a Resolution designating this area as an Economic
Revitalization Area for purposes of real property tax abatement.
SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2)
calendar years from the date of the adoption of this Resolution by the Common Council.
SECTION VI. 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 VII. The Common Council directs the City Clerk to cause notice of the adoption of
2
this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana
Code § 5 -3 -1 and Indiana Code § 6 -1.1- 12.1 -2.5, said publication providing notice of the public
hearing before the Common Council on the proposed confirming of said declaration.
SECTION VIII. 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
PRESENTED
NOT APPROW
Filed in Clerk's OffiNce
Em 7,Ro 201 6
KAREEMT-I FOWLER
CITY CLERK, SOUTH BEND, IN
TAX ABATEMENT REPORT
TO: SOUTH BEND COMMON COUNCIL
FROM: AARON KOBB
SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR:
South Bend Form Tool Co., Inc.
DATE: March 8, 2016
On Wednesday, March 9, 2016, a petition from South Bend Form Tool Co., Inc. was
received and subsequently filed with the City Clerk for real property tax abatement
consideration for property to be located at 1619 and 1623 Franklin Street, South Bend, IN
46613. 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
➢ Approximately $220,000 expansion of existing floor space along with the purchase
of approximately $623,000 of new equipment to better serve existing customers
and pursue additional business.
➢ Total taxes on new and existing building and improvements during five year
abatement period — $37,796
➢ Estimated taxes being abated on new building improvements during five year
abatement period — $12,416
➢ Total taxes to be paid on new and existing building and improvements during five
year abatement period — $25,380
EMPLOYMENT IMPACT
Per the petition, it is estimated that the total project will:
➢ Create 8 permanent, full -time jobs within the five year abatement period,
representing a new annual payroll of $378,560
➢ 17 total jobs will be retained with a total annual payroll of $785,000
PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES
PAMELA C. MEYER BRIAN PAWLOWSKI AARON KOBB
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 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 properly
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 real property tax abatement under section
2 -84.2, Real 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
1619/1623 Franklin Street, South Bend, IN 46613
AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A FIVE (5) YEAR REAL
PROPERTY TAX ABATEMENT FOR
South Bend Form Tool Co., Inc.
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
1619/1623 Franklin Street, South Bend, IN 46613 and which is more particularly
described as follows:
N 1/2 LOT 36 STULLS 5TH ADD
S 1/z LOT 36 STULLS 5TH ADD
and which has Key Numbers 018- 8028 -1127 and 018 - 8028 -1128 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 Real 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 a real 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 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 se q.
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
1619/1623 Franklin Street, South Bend, IN 46613
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
(5) FIVE -YEAR REAL PROPERTY TAX ABATEMENT FOR
South Bend Form Tool Co., Inc.
WHEREAS, a petition for real 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 1619/1623 Franklin Street, South Bend, IN 46613
and which is more particularly described as:
N' /2 LOT 36 STULLS 5TH ADD
S 1/2 LOT 36 STULLS 5TH ADD
and which has Key Numbers 018 - 8028 -1127 and 018- 8028 -1128 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 se ., and;
WHEREAS, petitioner has agreed to and has accepted responsibility to report any changes
in the final legal description and to report the final, appropriate Key Number to the Department of
Community Investment and to the Office of the City Clerk; 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 seg., 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 that the Petition for Real Property
Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the
requirements of Indiana Code § 6 -1.1 -12.1 et seq., for tax abatement.
SECTION II. The Common Council hereby determines and finds the following:
A. That the description of the proposed redevelopment or rehabilitation meets the
applicable standards for such development;
B. That the estimate of the value of the redevelopment or rehabilitation is reasonable
for projects of this nature;
C. That the estimate of the number of individuals who will be employed or whose
employment will be retained by the Petitioner can reasonably be expected to result from the
proposed described redevelopment or rehabilitation;
D. That the estimate of the annual salaries of those individuals who will be employed
or whose employment will be retained by the Petitioner can be reasonably expected to result from
the proposed redevelopment or rehabilitation;
E. That the other benefits about which information was requested are benefits that can
be reasonably expected to result from the proposed described redevelopment or rehabilitation; and
F. That the totality of benefits is sufficient to justify the requested deduction, all of
which satisfy the requirements of Indiana Code § 6 -1.1- 12.1 -3.
SECTION III. The Common Council hereby determines and finds that the proposed described
redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the
Statement of Benefits, Sections 1 through 3 of the Petition for Real Property Tax Abatement
Consideration and the Memorandum of Agreement between the Petitioner and the City of South
Bend, and that the 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 -3.
SECTION IV. The Common Council hereby accepts the report and recommendation of the
Community Investment Committee that the area herein described be designated as an Economic
Revitalization Area and hereby adopts a Resolution designating this area as an Economic
Revitalization Area for purposes of real property tax abatement.
SECTION V. The designation as an Economic Revitalization Area shall be limited to two (2)
calendar years from the date of the adoption of this Resolution by the Common Council.
SECTION VI. 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 VII. The Common Council directs the City Clerk to cause notice of the adoption of
this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana
Code § 5 -3 -1 and Indiana Code § 6- 1.1- 12.1 -2.5, said publication providing notice of the public
hearing before the Common Council on the proposed confirming of said declaration.
SECTION VIII. 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
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New Protect Investments
Calendar Year
TOTEM.
2015 201.6 2017 2018 2019 2020 2021 2022
Full -Time Permanent Indiana - Resident Positions by Calendar Year
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:
2013 12014
f�:
Complete below for Real or Personal Property Tax Abatement only.
Please sign for all requested incentives.
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1) How do I pay my petition filing fee?
Yourpetition jilingfee can be paid either in person or via mail to: Or online viapaypal at
City Clerk's Office http : / /southheni in govlgovernmentl
Attn: 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.
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
receiver
5) Total training expenditure - not cumulative (Page two, under full time Indiana resident positions)
The amount of money to be spentper year on training over the course of the prgiect.
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.
If you 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 sheintzeasouthbendin.gav
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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
receiver
5) Total training expenditure - not cumulative (Page two, under full time Indiana resident positions)
The amount of money to be spentper year on training over the course of the prgiect.
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.
If you 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 sheintzeasouthbendin.gav
F OBENEFITS BENEFITS S A
T "T
O
ESTATE ATEIMPROVEMENTS
State Form 51767 (R4 i 2-13)
Prescribed by (he Department of Local G . �qvernrnent Finance
This sta!ern6nt is being qo#ietod'for real property fa
yjha�-�'4ia!lflep under The following Indiana (check one box):
❑ Redevelopment or rehabilitation of real es I tatej . mprovements. (16 - 64AA2.1-4)
11 Residentially distr6sted area (106- l.i-i2.1-4.1)
1. TVs statement inust
in
Aribm. Ildeits the 'Osig nating bodyfigFOREthe redel
Projeds"filarned or &MmlWd to aftrJo[y i,
1987,
2. Cobh(ZM, R6ri
(City
the Ec0#oM1& A&vbJ1zq11on AMq prior to the pUblic.hearin,q if ifia-desi-driaft bddy, reqdlirdi
whetberto d e8 ' goa t e" an Economic R
e v" '1z
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areas d as g no t a d S# er 4 U � 1 198 7 M q V STATEMENT OBENEFITS F
a , County Coana e� ) MU 0 b 0 .obtained p d or to I 4 lat on of them e p ea br
"
.3, To ' h a ' deduci 6n a Fom q221RE must b0%ed with th6 Cotr7tyAudb?bd0rpMay 101r the, year lh which the addition to assessed valuation is.
made or trot lafer titan thirty (30) days a qer "hj6hiridif06 is mailed to the property owner if it was mailed afterApal ia ff the propequirowfier-
eq;s9s;..
ind'Maylooeasubsequent "yeAr
inrsses the May 1p deadline fn the inidal yeaY of occupatign he can apply
botiveen March I i
"'fi3 fft' �i6vedbkbtJane, ' ji iii
4. Property oy�ne& Whose Stiiieiiiik 0 a r-;n�
Benefits "S Ap, 30i .1 91. must at CF-IlReal Property annuaily to the appjjcati n to
show compliance with the Statement.,afBenetfts., (IC 6- 1.1- ?2151(4) and
s., 71�ie schedules gglebliihiiit andir!C fbr0*b#A4e �.Orop IT, vitalizellonarazisdeslahateda erJune-20,2000,
unless 04yapP. to ft
an memative. deduction. schedule 1-111-11), The schedules prior to July 1, 2000, *hall
. j#
V4
SECTION I TAXPAYER INFORMATION
Nomeaftaxpayer
South Send Form Too] Co., Inc.
Address of (akpayer (0trMber an# street, ON state, and ZIP ccde)
408 W. Indiana Ave., South Bond, IN 46613
Na" of omlaqt parson aph
Tel one nurnbif --rg-M211
address
Herb Eggers (574 289-2441
beggers@sbform.com
SECTION Z LOCATION AN • DES CR IPTION . • PROPOSED PROJEGV-,7
Name of designating body
Resolution number
City of South Send
Lqcapon of property
County
DCGF Wing district number
1619 & 1623 Franklin St., South Send, IN 46613
St. Joseph
Description of real property lmprovernents; redevelopmeint, or iWjab8I1atIqn (;sp adcq4(malshepts ifnecessary) Estimated start date.(monh day, year)
4/112016
Construction ol'approximately 3,000 additional square feet of manufacturing space and Improvements to existing building .-E-V-M--tW Privet Ion, 4its, (.A day, Y-4
12/VO16
CU rfe nt. mumber Salaries NurnbiWielalned salaries Numbs
17 $785,000 17 $785.00D 8 1$378.560
• ESTIMATED TOTAL COSTAND.V4LUE
SECTIN 4
• PROPOSED PROJECT
FUL, ESTATE IMPROVEMENTS
-COST
ASSESSED VALUE
values
$10,000
$31.000
Pigs estlinated vilums of, ro'oosad prqjept
$222.I66
$222,166
Less values qfa rope.riybeft replaced
$0
$a.
Net estiinilOd values .upon boiri pjSfi on 0 0rQ@9! —
$232,166
$253,166
SECTION 5 - WASTE CONVERTEDAND O-THER
BENEFITS PRONIISED BY.T1HE--TAX PAYER
Estirritited sold waste converted (pounds)
Estimated hazardous waste converte . d (poijnds)
Oftrbenefits
SECTION 6 TAXPAYER CERTIFICATION
I I" hereby . . . i 1 6 A . iti Wt the representations .
s 6 this statement are true:
Signature oratillic 2i^ ipresentative Digitally signed by Kyle Harbison
Date: 2016.03.0311:30:24 -05'00'
Project Manager
alp signed e&qhth, day, yLaFo
3/03/2016
Page I of 2
'F O�iildsli�b Uff!�l Nd�BODY
We trid thafthe, applicant meets the general standards in the resolution adopted or to be adopted b y this body. Said. resolutIO4. passed.or to be pissed
'for
under IC provides the following limitations.
A. 'Thei designated 6,tea has been liffilled to 6 period of time not to exceed calendar years` {sea below). the date this clesignsition
expires is
B. The type ofdedudtlon that is allowed In the designated area l P limited to:
Redevelopment or rehabilitation of real estate improvements 13 Yes El No
2. Residentially distressed areas El Yes 13 No
G. The amount of the deduction applicable is firrilted to $
D. 0ther limilationi bondliforis7li
E. The deduction Is allp.weo for years* (see below).
F. Did,the d6dIgnating.b6cly adopt an deduction 6chediul per IC 6.1.17121-17? [:1 Yo'
1 . 10.- 1 . I. a ❑ No
If yest ph a co 6 the itonitiviiiiicopy 'I ii� deduction -schedule to this form.
6
We hMle also reviewed the inIbrmatJohicontalned In the statement of benefits and find th t the estimates and ex
I . find .0 , estimates .. . P6614fibris are reasonable and have
detf�rmindd ibdt tfie tJQIqI1jVof Penplits Is sufficient to Justify the deduction described above.
Approved (signature and 01149 of vathodzed member of designating body)
Telephone number
Date sighed (nionth. Day, year)
Attested by ( signature and Milk, otaftester)
Designated body
if the desighatIn, body Orbits th6 tirpe period during whIch.aq area is an economic revitalization area, ii does not limit the length of time a 160ai is
entitled to receive a dedVcfton to a number of years designated under Id 6-1.1-12.1-4.
Al. Pof residentially distressed. istrei ateas. Abe. deduction pe . n4w may .. not exceed five (5) years.
.B. For redevelopment and rehabilitation or real estate Improvements:
1. If the Et6nbMlc Revitalization Area Was desilyriatdcl prior to*July 1. 2000, the'dedurdliph period is lini to three (3), six (6), or ten (10) years.
R. If (he Economic Revitalliatiob N6 was'desigiiiied after June 30, 2000, and Is not In a residentially distressed area, the deduction period may not
exceed ten (10) years
Page 2 of 9'
STATEMENT "OF B'ENE'F'1TS
PERSONAL PROPERTY
State Form 51764,(F(91'12-11)
Prescribed -1504 Department of Local Qovemrnefit Finance
A)KM S'8-1 I PP
PRIVACY NOTICE
The dbdap4any%bc1#0hqMdyaI's
isoliryinformation a
a conridentlat ft
"lz!tq qf!h9Jl#qg is pyblic record'
JN$TR1JC'r19NS. (d).
•
1. This'st6tembht Must be sUbmItted to Jha bo4ycresignaftng the
Information thdrri the 6-p' Economic Revitalization Areh prior to the -public. hearing.1f the designating body. raqdios
pJh;;WtZnMa;kt)# its d@c1slon.about whether to designate an E6oromlg'li?eviIa1!jatJ0rJ i6# be submitted
to the designating body BEFOREeperson Installs the newmanuAWOdnig equipment andWrfteatch anddevelop
mentequipment, and1drido J-dis?dbidon
, N
IY6.q"qlp'mp'r)df'o'rwfflih.thopersgn.Wishes to claim �a de6c6oh. 'Pr9Jeqts-p1annedor t6 ;0,july 1, 1947,
and after July *1, 1987, require a STATEMENT OF BENEFITS. (IC committed
2. Approval of the designating Wdy (City Cobnak Town Board County Council, etc.) must be o btsJnedpfio).(6 installation of the new nanificuring &quloant andlor research and
development. e4vlpmenfandlbr logistical distribution equipment eindlor Information technology equipment BEFORE a
ba approved deoudlon May
3. To obtain a dedu6tion, ;a Pbt6oh Must B16 a codft.d.deduction schedule with the Person's Personal 010peffy return on a ce4led deduction shh6dule {Fpnn
103-ERA) With the township assessor of the township wrishl
p mhere'the properly is 'situated or kh there Is no to*4shi6aisasi6r for the
township. 7;he, 163-ERA fijdit be nlio an March 9" and May 1.4 oriho iwossm6iii year In Which" na.W manabduring egPIPiveint &hd?brrii6arqh and
'iinsialleddhdkliyiu;ldtid�ai,'uni4ii'
devel6pffieril e4ul*i4b�dkk !94104ol Oislitbullon equipment and4or lnibrldailkh technology eqFp1p1nvht 14
ext6nsloh h been , ob d. A a filing
'e* iaIie. . perq9n who ob a filing exteriaJoh niust'filat & -and &a #Xtorcfed due da
.o fbimbetwopr? March I
te of that year.
4. Property owners whose Statement of Benefits was approVbd aftdr June 3Q, 1991,. Must. subm# Porm CF-1 / PP annually to 81IOW compliance with the
5. 7h6 schedule's W601100 a7d6rlc &1,1 429 4.5(d) and () apply to equipment IfistaAW after Mzirch 1,.26ol, unless, an alternative deduction is
adopted by tlI6 qesfgnaft j6dj tip 0-1.1. 92.1 -17). 11b.n
1
SECTION I TAXPAYER INFORMAT(ON
Name of rr -
S th BenftToolCo., Inc.
&re% if tax a rare
08 W state, vodz#';o;)
.IV '0416q4 wly,
,1%n
Name of contact person --j5TeT'41-1p8�92441
a
Herb Eggers Tale hone number
Name of designating body
City of South Bond Resolution number (.q)
Location of property
1619 & 1623 Franklin SL, South Band, IN 46613
ng distdrA number
County DLOF taxi SLJosiph
I
Description offnanUt ot(irihoeqfjiorh6litandlar research and oeyeloprrlentequ'pment
I'M
and/.orlbgisUcaldisitibu'tion'6quipmehl-iind/0rinformEitidnte6hno!6gyoLeioMIOAIL ESTIMATED
(use ad.d[Wonal-sheeis itnecessaty STA DATE COMPLETION n-El
Manufacturing ipm t
M. ctur g Eq
Manufacturinb 44Uiptrept 3/15=16 1211&MI7
U en
!DEq
M711612016
R 8,
R & D Eti4lipthent
JJpM.nt
E H
CNC Lathes, Wire EDM, Automatic Band Saw, Auto CMM, Tooling, Warehouse Racking, PCs, ERP Software
-'-'i
L'gl't D. ' j - . t
'st.Equ Pmen
Ldglet Distg44!P fit -1/1&2016 1 . 1115/2016
IT Eq.0proent. 711512016 10*112017
1
11419 W-�- K�z W-m-413WHIM-1 41affols
Current number $alaries Number refaline Salaries Numlieradditional Salaries
17 $785,000 17
$785,000
$378.560
TIMOR
NOTE: Pursuafit to (d) (9) MANUFACTURING R&DEQU LOGI DI$T IT EQUIPMENT
EQUIPMENT. EQUIPMENT
Q
EQUIPMENT
COST of the property Is conlid6nflal. C ASSESSW ASSESSED
[ASSESSED COST VALtle
IT
C OST ASSESSED ED
VALUE COST ASSESSED
VALUE
VALUE
Cillrof
-Plu$ 6aUrn6tbo'v#1ups of Propoped Project..
$623,077
$623,077
$11.305 0
$11.305 0 $000
0
Lo;ip vajOe;; of kny proprlybolng replaced
Net ekslimaied YalugswWoom0le0n
$M.077
-
"'Prx's 1$62-%M
$11.3,5
$11,305 .10 $9,300
0
Estimated Sohdwas.te.ronverW ( pounds). Estimated hazardous WOS(e converted (pounds)
Other tienetTts; ..
SECTION 6 TAXPAYER CERTIFICATION
I hereby certify that the repre—senikit opp in thts stateindrit are true;
Signalu. Of i�ooftedepresenavvs 0 Ct1W1y*ndhyKy1..-
*to—
Date 6-Ignbd (ffionih. pa�
A� ye, at)
MaW.2 016.03.03 11*3&56-W 01Y
Project Manager
J0310M2016
Page f of 1 2
We. have reviewed our pt(ot actions rQlgong to the desfgnatioh of this economic i0vitAzatidn area and find that the applicant meets the, general standards
adopted In the resolutioh,previously approved`liy this Body. Said. resolution, passed underlC 8-1.1 =92.1 2.5, provides for the following limitations as
authorized under Ili 6-7.9 = 12.142
A , The designated afeia has been limited to a peridd of time riot Id exceed calendar years * (see below).• The date this destgnatipn.e*pires
Is
B. The type of deducttoi( (hat Is allowed in the designated area is limited for
1. inslal(aiton of ;view rrienufaclUring:egUipineni; '® Yes P3 N o
2. lastallatioh of he reaearcli.and.dovelojment egyipriient,, .® Yes 13 N o
3. Installation of tuew fogktical djstilbpoon equipment. 13 Yet M N o
4: ifii.tallation of nowinfoffnailon technology equipment, 1MYe s- .0 N o
Q The amount of deduction applicable to new manufacturing a ufpment.is limited to $ cost with an assessed value of
$
D. The amount of deduction applicable to newresearch and.developmeht equipment is limited to $ cost with an assessed value of
E . The amount of deduction applicable tb new logistical distribUtfori equipment is limited to $ cost with' an assessed value of
F. The amount.of deduction applicable to new information lechriology equipment is limited to $ cost with an assessed value of
G. Other limitations or conditions (specify)
H. The tleduction for new mahi ufacturing equipment and/or new research and development equipment and /or new logistical distn'bu0on equipment and/or
new information tedhnology equipment installed and first claimed eligible for deduction on or after July 1, 2000, is allowed for
IQ 1 year d 6 years •• For ERAs established prior to July 1, 2600, only a
Q 2 years ❑ y years 5 or 10 year schedule may be.deducied.
❑ 3 years 0 $ years
Q 4 years ❑ 6 years
Ql 5 years "* ❑ 1.0 years *'
I. Did the.dpeignating body adopt an alternative deductlori schedule per IC 6- 1.1-12.1 -17? m Yes 0 No
if yes, attach's copy of the alternative deduction schedule to thisform.
Also we have teViewed the information contained In the statement of benefits and find that the estimates and expectations are reasonable and have
determlhea that the tdtality of benefits is sufficient to )usttfy the deduction descrlbgd above.
proved: (signature and We of authorized member) Telephone number Date signed (month, dpy, year)
Designated body
* if the designating body limits the time period during which an area Is an economic revitalization area, It does not 11MR the length of time a taxpayer is
endued to receive a deduction td a numiier of years designated under IC 6- 1,1= 12.1 -4.5
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