HomeMy WebLinkAboutBill 16-22 Tab Abatement for South Bend Form Tool Co.227 W. JEFFERSoN BouLEvARD
SurrE 1400 S.
SOUTH BEND, IN 46601 -1530
March 8 2016
CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR
COMMUNITY INVESTMENT
SCOTT 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: 574/235 -9371
FAx: 574/235 -9021
RE: Personal Property Tax Abatement Petition for: South Bend Form Tool Co., Inc,.
Dear Council Member Ferlic:
Please find the attached information pertaining to a personal 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 personal 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 of Economic Resources
Filed in Clerk's Office
MAR 0 9 2016
KAREE OWLER
CITY CLERK, SOUTH �°as_Nt5,1�1
PLANNING NEIGHBORHOOD ENGAGEMENT BUsrmss 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 PERSONAL PROPERTY TAX ABATEMENT FOR:
South Bend Form Tool Co., 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 1619/1623 Franklin Street, South Bend, IN 46613 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 sec.., and South Bend Municipal Code Sections 2-
76 et sea., 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 sew, ,., 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 SeMc ., 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 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.
PRESENTM
HOT APK0vF.rr
Member of the
2
Cqftd in Clerk's mice
MAR 0 9 2016
KAREEMAH FOWLER
CITY CLERK, SOUTH EMEND. IN
TAX ABATEMENT REPORT
TO: SOUTH BEND COMMON COUNCIL
FROM: AARON KOBB
SUBJECT: PERSONAL 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 personal 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
➢ Approximate $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 equipment over the five year abatement period — $53,452
➢ Estimated taxes abated on new equipment over the five year abatement period —
$24,501
➢ Total taxes to be paid on new equipment over the five year abatement period —
$28,951
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
l . 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. 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.
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New Project Investments
Calendar Year 2015 2016 2017 2018 2019 2020 2021 2022
TOTAL
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:
I'j, :
Complete below for Real or Personal Property Tax Abatement only.
Please sign for all requested incentives.
3 �J15�`141�11 �-i� ,�'T.I A'�JF IEA��1t'`�7r�11 �J -:1a� �•I�!
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• r +f✓'ii"- . "`W"7018A9A8 1128:17 4900` �
Staff Use Only
Please fill out the Public Benefit Summary Information and add to the total from above.
- ���.fCStf'�CC�'C�li T~[- �`.3i�i ' ".z'" • it
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1) How do T pay my petition filing fee?
Yourpetition fxlingfee can be paid either in person or via mail to: Or online via paypal at.
City Clerk's Office hitp :Ilsouthbendin.govlgovernment!
Attn: Deputy City Clerk contentliax- abatement
227 West Jefferson Blvd. • Suite 400 S
South Bend, Indiana 46601
2) Gertified Technology Parkappropriate? (Page ones 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 Revital zation.Enhancement District? (Page one, under project overview)
The Wrap below outlines the CRBD area, please check to see if you fall within the boundaries.
a%(vefp� .
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Dunhl iii.
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CREeD Dist
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Sample
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' Ignition ._ $bA1 --- - -.
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Broadway... '-
4) Has any 504 funding been received? (Page one, ender 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 spentper year on training over the course of theprQject.
6) Total number to be trained -not cumulative (Page two, under fid 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 Heintzeiman in the
Department of Community Investment at 574.235.5842 or email atsheintzeasouthbendin.nov
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South Und.Pateala 1
4) Has any 504 funding been received? (Page one, ender 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 spentper year on training over the course of theprQject.
6) Total number to be trained -not cumulative (Page two, under fid 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 Heintzeiman in the
Department of Community Investment at 574.235.5842 or email atsheintzeasouthbendin.nov
STAT IU Et'T QP MOVEMENTS
' '"
REA1. ESTATE 1M
3taie i orni 61787'(84 / 2:13)
p,;scdbed by 1. eparlrneent of Loopi Ggvemment Finance
Thi§ s(ateir)enl is being coCppleted'for real property that 0yalrfies under the following I'ndiana.0 ode (check one imx):
Re0evelopmen1 or rehabilitation of real e¢ta[e.(mprovemenW' (I d G•1.1= 12.1 -4)
Ci Re5ldenlially aistres'?ei area (iG 6- 1.:i- '12. -4.1j
INSTRUCTIONS.
9 Thfs ta(emenf plot he s#binffted to thg bi aly flesI4tra#ng tht Economic Rev(talfzatlan Area pr3orfo.i(re ptfb!lc.he
InforMatfon frbm the app9piIntIn ij aW fts clgctsion.abpfit'wfietherto destgnafe an Et onomlcRevRaGzafiogAre,
'?�iojects "planned or d, , - ftteit fo afferJuly 1 9987, end area's desfgifl3ted afteriJuly 1., 19B7; require a STATf_JtQF_N7 (7F BENf_Fi7S {10
2 Approval of the designating body (CQy Cpuricil, Tawn Boani, County Col ndl, ate) m. uet be abtafned prlorto infittfon of the tedewlopmerrt b
rahab111taBon, BEFORE a dedtfcfit3h may be approved
3 76 obUtt a deafuctfon, a Form g2WRL )hb# be filed 4iilth fiig GountyAu lbihefore lblay 10 In the year In whlgh the addNrbn to assessed Gslirfitlon s.
mgde'of hot Ili "t hahtrifrty'(? OJ haysaY; ertheassess7nenfnoticelsolar! edto3lfeproperiyowner kk was niailedafterAprilIa. ffthepro/iertiowv e(
tnlsses the May 1Q deadline ln'thq.ljigi6l yearof oc'cripatfon fie can apply between March 1 and May 10'pf a subsequent year.
4 1'mpe Y o"am Whose 5tatem'bnt bf Beneilts was approved iterJune:30 9991, m/rst.atjach'a Form C� 7 /Rea% Pxoperty annually to tale ApUcaflo i to
shottigomltllailca wltjr t jle 3taterrleYit of Benefits (lC tj- 14 -72.1v ltbj ehd 7C ¢9, j J 3({))
Tile sghedu {es established ander lC E y >�2 f -?!(dJ fotfehabtlftated grope r1y aply to any economic fevftalizatlon crass designated airteerJtftie 30� 200p,
unties* an alterilative detluctron sc/r d i§ adopted by the desfgnatrnp body {I 8-1.1 121 -i7J, 7ne schedules.etfective prior to July 1; 2000 *!tall.
coiftir►ue to apply fo ecoriomlc revJtalT {atlon,aieas designated before July 1,.;2p00;
SECTION •- A •
Niim6ofta)payer
South Bond Form Tool Co., Inc.
P.,ddress of tokpayer (agmberand *freer; city, state, and jZIP'dode)
408 W. Indiana Ave., South Bend, IN 46813
Name o[ conlactpersoo Telephone nainber
E map address
Herb Eggers (674 ) 289 -2441
heggers@sbform.com
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED Przbj�df.
Name of designating twdy
Resolution _number
City of South Bend
Cgcation of property
County
DLGF faxing district number
1619 & 1623 Franklin St, South Band, IN 46613
St Joseph
Description of real propg4yimprovemenig. redevelopment, orrehab8itation' tfse adaggruifsheets l(necessary)
EsGmaled'stari date-1-11A day, yeai)
4!1)2016
Construction of approximately 3,000 additional square feet of manufacturing space and improvements to existing building
'02pated cotrtpkil) dale (MMM, day, year)
12/112016
Currenlnumber Salaries Nuniberretained Salaries Numberaddiijonal tielOdes*
17 $785,000 17 $785,000 8 $378,560
SECTION 4 ESTIMATED TOTAL COSTAND VALUE,OF PROPOSED PROJECT
REAL tcSTgTE IM ROVEMENTS .. '
COS C - ASSESSED VALUE
Gs�rreril values-
$10,000
$31,000
Plus estimated' yalues of; ro` osgd 0 r: egt
$222,166
Len.vatyes•gfan ro e.4.;treihi replaced
$o
$o
fJetesliinafed'.Yalues upotj'a2[npijtion APpr.'o act
$232,166
$253,166 .
SECTION OTHER.BENEFJTS
PRON11SED BY THETAXPAYER
Estirliaied solid waste cortvetled ( pounds)
Ealiinated-hazardous wastg converted. (pounds)
Otherbeneets
SECTION •
I hereby certify, that the representa0pne in #his'statement are true;
Signature orauthc , ►presentative Digitally signed by Kyle Harbison
TIOU
day,•yeo
Date: 1016.03.0311:30:24 - 05'00'
Protect Manager
03/03/2018
Page i of 2
Page 2 of 2
Wefiod thatIthe.appildontMoNg the gen@!r4Is!an04r0s in the resolution adopted or to-be adopted by this body. 'Sa'i"d,resolLfUo%passed.6rto tie passed
under 'lc'6il.l-i2.i, provides *for ibe. following lirifitations:
A 'Thd oesigniatod btea figid been Ilinitikd tq 6 period of tirqo not.19 kbeeo �ryeare (see a below). The datd this debigneitloh
expires is
B. Thb type of dedudtloh that is d1loWbd In the Oesig.fia(do area is firbited to:
1. Redevelgpment of tehq60110 n of rja.a'I estate improvements 13 Yes El No
2. Residlentialli distressed areas El Yes 13 No.
Q. The amount of the dbdUqi1bn appliegWe is linifted to $
D. Other limitations .or ddnditJoris'(specM/)1
'E. The qeductloin is Ilqwed for years* (see below),
F. Did Ifte d&W.6hatIng.IJddy-dddPt andItdr(iat11v6 d6Oudlion dcheeule,.per IC 6-1.1-d 21-17? b Y06 El No
'a
if yes, gfia66 of-t6'a"i Wqdedu'etion'&'hedufe to this form.
fiern "r
We have also reviewed the information bontalned in the stat6hient of benefits and firiq qiot the Wrriptpe a0d exp6diAtibr!s are reasonable and have
delkr(rindd 1061: the IJqtq1JJV of ,91� Isj§uf1Iq1q�t.to jjjp�lfy the deduction describ dabove.
Approved sC[gnatureiRnctfillei.ifoolhodzedmemberoicfesignatingbodo
Telephoneinumber alesigh' (raonfk4ray.yead
Attgated by (signatore find title of q(tester)
Designated body
ft If the destlifistirib Body UnIts, t4O Ilroe period during whiph.mi afea i's an economic revitalization area, does not limit Mi length of time �i taxpayer is
, 4 , , Units
t a' under'16 6'-'1.1-12A-4.
70'ed receive number of years designated 10
'
& F4r (esid0w.py djstr6s.0.a0APi-(h0 deductloh p6d6d may not exceed five (5) years.
.0. For redevelopment ont and rehabilitation or real estate im.provernenW.
1. If the Eedhftld ReVitaltzatlen Area was designated prior lo'July Ij 2090, thef'dedddtlori pe.dqd.!s I!rWtpg to three (3), .six (6), or ton (10) years,
g. If the 15conbrWd Rbvitalkallph Afoa after June 30, 400, -.and 1p-not ; In a reg . Identially-dialressed area, life deduction period p1byhot
exceed ten 410) years.
Page 2 of 2
STATEMENT DF 13ENE0TS
PERSONAL PROPERTY
State -Form 54754IFU /12 ' 11.t
r • Presorib.ad.. iyl,he Oepartmeni otLocal GoVemnient Finance
IN TRL/OT1910-.
FORM SBA i PP
,PRIVACY NOTICIi;
�T}��,,4 yrostapd�nY •specil(ciltdivtdllal's
my infommalio • is abnifdaidial; the
balancB cFthe- fil�ngYs "ptibllQ record
pertC S i. t- 12.1 =5.1 • c and (d).
1. This -staterrlent must be gdhinitted• to the body,designatfng the Econornk Revitalization AnMa Pilot to file public.hearingg.if the desfgnat!n4 body regr)fi;es
infotmal/oh frog► the applfeant inmak(ity its deefsion abqut tYhether to: designate an"Ecisnomic Ravitalizallon A►ea; Othenvlse this stdt+#merit rrii►stlie sifbrrtHted
to the designating.,6oiiy 81 <�OR�� pardon fgsla(ls tits;..new manufactGdng'egt/ipment andTorreseaPch and itet+elop/neert equfgmenf; •and /br7o�siia�l -dis`Irlbaifon
eciulpmenfohd /orinforrtaatfon ech olpgy egulpmant for which #hg' .erson.wishes to claim a deducifon: P#oJegts "planned br irom»tltfe'd to afer July j, 49 &7,
and aleas desfgriataii after Jufy 'jr 9'987, require. a STi.4TEi4ENT ViF BENENT.S (1C 1),
2. Approval of the desfgnatfrig'body (Uly Council, rowlt -Board County Council, etc.) must be obtainedprlof.#oinstoliefion of thenbiOmanufacturing pgulpMent
and /or research a!!d i/ ogrgliriieht etj(rlpmeni end or fogistfcal disfrlbution equfpmenf end/orinforniatl 1n, technology equipment, BEFORE a deifudfioii .may
be approved
3 To .obtain a de.ductlon, a POrso'n fngst fife a xeaig.d.dedu-ctio'n, schodgle. with lhs persot/ "s personal �rgpertyletum on a ce1ln"ied deduatfo{r setts "dule•(Fpmr
103:ER4j with the #owttshfp essessdr of the tot+vns(rip whets tha property, is sif�7ated or With the ooAy_4ssassorff there Is no tdwriship hisses gifibetfre
toWrishfp. The ib3- ERAmustbe fll�cJba Peen March f and May 1$nfthe assessinenf yearin Whfclr newmanepfuring agriipment and/orrer parch and
developt»eitt`ecjuipfien# et)o%%rloy)sUcal oiisbulion equipment and/or Infor/rfati6h technclQgy eij7{flitneiitls insfelled and folly ftine�on�al, 'unless a fiing
axfehsforr had beep obfaiited: A person who ob #sins a filing extension tpust'flle the. fdtm. 6etwseir Meech 9 -- end the extended due date bf th& year.
F Property ok+ners whose Statement of Ben'sflho was approved after Juno 3t) 1991,.r0g4(eubmW Pbrm GF:1 % PP annually to s1.gW vomplfance v fh the
tSf�ttemehf of Benefi(s. (it 6:9..1 -J2 1:5.6)
t. The schedule's esteblt�hed underic 6 -1.1- 129- Atx(d) and (e) apply fi equipment rr+stalled after AUrch 1,.2001, unless ail alternative deductfon schedule is
adapted by fhe desi-gnailnj b6dli (IC (1-111- 12.1 -11).
SECTION •• YER INFORMATION
Name of taxpayer
South Bend Forin Tool Ina
//Coou.,
n�
4Adc re Indif (aaxAv "8J eendglN 4� "t OFD' atale,.and ZIP code)
Rayne of conlapt persod
Tefsphone nurpber
Herb Eggers
674286.2441
SECTION a • AND DESCRIPTION OF -• -• a PROJECT
Name of designating body
ResoTullon number (s)
City of South Bend
Locatlon•of property
1616 81623 Franklin St., South Bend, IN 46613
County
Ist Joseph
DLGF W-Atng dlstridt number,
Description of tnanUtactui'ing a, b1prite4t,and/6r reseerch end deyelopment equipment
ES fIMATED
and /or Ibggist(cai distribution equ pmenl and/or informatidn technology irquipmOnT
(uso additional sheets if necessaiy)
START-DATE. COMPI;7!QN DATE
Manufacturing 440ipm6nt
3/1512016 12!1512017
R & D Egyipti or t
CNC Lathes, Wire ECM, Automatic Band Saw, Auto CMM, Tooling, Warehouse Raddng, PC's, ERP Software
Logist Dist FgtQprnetit
7/15!2016 11115/2016
IT Egtfiprfinept
7/15/2016 10/31/2017
SECTIOW3 ESTIMATE OF • YEES AND SALARIES AS RESU LT OF -••• PROJECT
Currentnumber Salaries Rumberrei$ined 5aades Numberadd@ional Salaries'
17 $785,000 11 $7,000 B $378,560
SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT
ti9AtVUFACTURiNG R & D EQUIPMENT LOGIST D* IP rr E
NOTE-., Pursuaritiodt; 6 -1.1- 1,.2,9 -fi.1 (d) (2) the EQUIPMENT EQUIPfiftENT QUIPMENT
COST di file property is confiaeii�tleL cbsrt ASSESSED COST' ASSESS i GO,ST ASS! SEED OOgt 4°SSESSI =D
'VALUE. VAL VAll1E VALUE
Curfetjivatiie's
'
-Plo .e3th ted values of propRged.pfojeot
$623,077,
;623,077
$11,305 o
$9,30o 0
Less vaittes of "' y pTOperty..being remi)apeii
N 3,077 $623,077
$11,305 - n 89,300 0
SECTION 5 WASTE CONVERTED AND OTHER BENEFITS
PROMISED BY
rr laied solid wastepFnyetted (pound$)
f= sUrriate� hazefdous.weste converted (pounds)
[Estl
her` lia�etlis^
SECTION CERTIFICATION
I hereby certify that the represenletions_ to this statement are flue:
3ighaturadfatithodzad 'representative ` t " oolagtW,2Yo;s4,nos oby 1Kella11 ro
Ss.
Title
P.I.ot Manager
Dte.sgneditonih,dayyead
03 /03/2016
rage ( of 9
tNe, have reviewed our, p fbt actions relating to the depidnatigh of this economic Cevitalizatidn area and find that the applicant meets the, general standards
adopted in the resolution -Previously approyed by this body. Sald resolution, passed under'IC tr1.1- 12.1 =2.5, provides for the following limitafiohs as
•ailttioft6d dnder IG 6 1.9121:2.
A : The designated a:ea has been limited tb a peridd of time riot td exceed calendar.yeaiv ` (see below). The date this disighatipn.ekpires
is
B.: The type of deductiofr'that is allowed in the designated ante is Umited to:
Yes
C1 N o'
1. in §taliatiotr of p»w riianuFacturing isgttiptneilt;
2, inbtaliatfioh of hpW t'esearcti qil itavelop)rtent equipfitent;
.13 Ye's
N o'
3. Installation of bow logistical distiibutiori egWpmerif
m Yes
b N o
4: Iist IMU n of new inf6tMaitidh technology equipment;
ClYe e
N e
l;: The 'smouiit of tiedtictiotl applicsbl'e to pew Jnanufacturing equipment Js limited to.$ co'sf dvith all assessed value of
$
D. The-arhount bf deduction applicable to hew'reseatch and.developmeht equipment is iimited to $ cost with ail assessed value of
E . The amount of deduction applicable tb new ingistioal distrldtilion equipment is limited to $ cost witty an assessdd value of
R. ?he amount _of deduction applicable to hew information techri6lbgy equipment is limited to $ c6st v, th air assessed value of
G Other limitations'or conditions (apec!!y)
H, The d6ddctift for new mahUfaiitUring equipment and/or new research and develbpfneht equipment and /or new 16&U01 dish tition equipment and /or
hew infodhstioh tedhhology•equipment Installed and first claimed eligible for deduction on or after July 1.. 2000, W allowed for
I[] 1 -year 0 6.years •* For ERA's established prior to Joly 1, 2000, only a
[] 2. years ❑ 1 years 5 or 10 year schedule may be deducled.
❑ '3 years El 4 years
Q4 years ❑ 8 years
U $ Years 0 10 years
I, Did thoApsignaling body sdopt-an altemaf ive deduction schedule per It 6-1.1- 12.1 -m i3 Yes 13 No
Byes, attaoh'a copy of the altemsttve deduction schedule to thwforro.
Also we have Wiewed the information c6nt6ined in the statement of baneftts and tied that #t ae.bsttmiites and expectations are ropsonabie and have
determined lh9i the tdtefity of bendfits is sufiiclaht to)ustify the.deduction descrlbed above.
Date itnea (monfh, day, year)
Desionaled body
* if thb d".1grraiing . body limifs..lhe time period during which art area js an economic reyitalizatron area, It does not Urhft the lenp of time a taxpayer is I
entitled fq receive a dedualjon td a number df years designated under IC 6- 1.1= 12.1 -4.5
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