Fort Wayne Ordinance R-96-01-12

20 Pages·2.4 MB·

by  City of Fort Wayne, Indiana

| BILL NO. R-96-0/—/2_)
DECLARATORY RESOLUTION NO. R- C2 9¢
A DECLARATORY RESOLUTION designating an
"Economic Revitalization Area" under I.C. 6-
1.1-12.1 for property commonly known as L.H.
Carbide Corporation/LH Stamping, Fort Wayne,
Indiana 46804 (4420 Clubview Drive).
WHEREAS, Petitioner has duly filed its petition dated January |
10, 1996 to have the following described property designated and
declared an "Economic Revitalization Area" under Section 153.02 of
the Municipal Code of the City of Fort Wayne, Indiana, of 1993, as
oBbBOD|ePiO NN
amended, and I.C. 6-1.1-12.1, to wit:
Attached hereto as "Exhibit A" as if a part herein;
and
WHEREAS, said project will create 40 permanent full-time jobs
for a total additional annual payroll of $906,880 with the average
| new annual job salary being $22,672; and retain 180 full-time and |
two part-time permanent jobs with a total current annual payroll of
$6,717,603 and a current average annual job salary of $37,320; and |
WHEREAS, the total estimated project cost is $3,850,000; and
WHEREAS, it appears the said petition should be processed to
final determination in accordance with the provisions of said
Division 6.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE)
CITY OF FORT WAYNE, INDIANA:
SECTION 1. That, subject to the requirements of Section Sc
below, the property hereinabove described is hereby designated and
declared an "Economic Revitalization Area" under I.C. 6-1.1-12.1.
Said designation shall begin upon the effective date of the
Confirming Resolution referred to in Section 6 of this Resolution.
and shall continue for four years thereafter. Said designation
shall terminate at the end of that four year period.
ACGaBBRRRRSReeoSReSeSSSS"S eyO © Oe o S sao e oO rS s Oe ee Ss
SECTION 2. That, upon adoption of the Resolution:
(a) Said Resolution shall be filed with the Allen County |
Assessor;
(b) Said Resolution shall be referred to the Committee on
Finance and shall also be referred to the Department of
Economic Development requesting a recommendation from
said department concerning the advisability of
designating the above designated area an "Economic
Revitalization Area";
(c) Common Council shall publish notice in accordance with
OoBbw©OUäOPeO i N
I.C. 6-1.1-12.1-2.5 and I.C. 5-3-1 of the adoption and
substance of this resolution and setting this designation
as an "Economic Revitalization Area" for public hearing;
(a) If this Resolution involves an area that has already been
designated an allocation area under I.C. 36-7-14-39, then
the Resolution shall be referred to the Fort Wayne
Redevelopment Commission and said designation as an
"Economic Revitalization Area" shall not be finally
approved unless said Commission adopts a Resolution
approving the petition.
SECTION 3. That, said designation of the hereinabove
described property as an "Economic Revitalization Area" shall apply
to both a deduction of the assessed value of real estate and
personal property for new manufacturing equipment.
SECTION 4. That, the estimate of the number of individuals
that will be employed or whose employment will be retained and the
estimate of the annual salaries of those individuals and the
estimate of the value of redevelopment or rehabilitation and the
estimate of the value of new manufacturing equipment, all contained
in Petitioner’s Statement of Benefits, are reasonable and are
benefits that can be reasonably expected to result from the
proposed described redevelopment or rehabilitation and from the
installation of new manufacturing equipment.
wOtOSewYNNNesm%% eYoS S OR©OS S eSssee bN peO R,
SECTION 5. That, the current year approximate tax rates for
taxing units within the City would be:
(a) If the proposed development does not occur, the
approximate current year tax rates for this site would be
$9.2773/5100.
(b) If the proposed development does occur and no deduction
is granted, the approximate current year tax rate for the
site would be $9.2773/$100 (the change would be
negligible).
NBWDko©DwBPa I WO o
(c) If the proposed development occurs and a deduction
percentage of fifty percent (50%) is assumed, the
approximate current year tax rate for the site would be
$9.2773/$100 (the change would be negligible).
(a) If the proposed new manufacturing equipment is not
installed, the approximate current year tax rates for
this site would be $9.2773/$100.
(e) If the proposed new manufacturing equipment is installed
and no deduction is granted, the approximate current year
tax rate for the site would be $9.2773/$100 (the change
would be negligible).
(£) If the proposed new manufacturing equipment is installed
and a deduction percentage of eighty percent (80%) is
assumed, the approximate current year tax rate for the
site would be $9.2773/$100 (the change would be
negligible).
SECTION 6. That, this Resolution shall be subject to being
confirmed, modified and confirmed, or rescinded after public
hearing and receipt by Common Council of the above described
recommendations and resolution, if applicable.
WwYWWWHBBBkNNNNNRHHHBSHPa BowO nw
SECTION 7. That, pursuant to I.C. 6-1.1-12.1, it is hereby
determined that the deduction from the assessed value of the real
property shall be for a period of ten years, and the deduction from
| the assessed value of the new manufacturing equipment shall be for
a period of five years.
SECTION 8. That, the benefits described in the Petitioner’s
Statement of Benefits can be reasonably expected to result from the
project and are sufficient to justify the applicable deductions.
SECTION 9. That, this Resolution shall be in full force and
DHnDOOB|NHw O N
! effect from and after its passage and any and all necessary
approval by the Mayor.
eee
4 A / i
iE Ag Oe nce rai E |
Member of Council/ “
| APPROVED AS TO FORM AND LEGALITY
lunA A
| J. Timothy aulay, City Attorney
HWNNDNNFkkkSe`KùNNNNNeeYY a%YaiSeYoiY -ofhYsaowSSiNO©©C E A £ aetEOOeeeee E i e NOA e
Read the first time in full and on motion fe EE RRA
and duly adopted, read the secend time by title and referred ttco the £
Committee on
> SE (and the City Plan Commission
for recommendation) and Public Hearing -to be held after due legal notice, at
the Common Council. Council. “Con ference—Room_ 128, -City-County E Fort
eWeaey ne,,S Ee CTn edeia na, on ` EER e SCE EE EE Eee EE oeo Ci S k
SE ES E
DATED: Lai Bog
d
SANDRA Is KENNEDY, CITY CLERK
: E
Read the third time in full amon motion byo LA if
and duly adopted, placed on its passage. PASSED AOS
by the following vote:
\
DVRS: =. NAYS ABSTALNED ARSENT:.
TOTAT, VOTES A $ r
BENDER i SCH dE
CRAWFORD f
Lae
_ EDMONDS Sc
HALL ie
SE eee ge
_ HENRY F a SE
LUNSEY $ Ge
RAVINE ` SE
SCHMIDT E
DATED: AR N 2 ATG G EE Meetes 4 PaP hiE
SANDRA BE. KENNEDY, P CITY CLERK
Passed and adopted by the Common Council of the City of Fort Wayne,
Indiana, as (ANMEXASLEON ) (APPROPRIATION) -LGENTERAT, )
(SPREEAT) (ZONING). ORDENANER- rEsonurron no. A OS - FG
on the $ a` E E of a eEe e ee 11L97O G 2
E (SAAD)
onaARn 2, SEd wers elÇl,
SANDRA P. KENNEDY, CITY CLERK PRESIDING emmZien
Presented ae me to the Mayor of the City of Port Wayne, Indiana, on
Une EE RE EE E W FG e
ak kthe hour OF e ee te lock ve: Pee M. Bësse zl
EECT SSC
SANDRA en “i CLERK i
Approved and signed by me is ` h aay see _™ T S
o di _, at the hour of Los d o'clock EEN Mer ToS hs
ATTACHMENT A
Manufacturing Equipment Estimated Cost ($)
6 Complete Press Lines $1,360,000
6 Press Line Controls $110,000
Conventional EDM $90,000
Wet Grinders e $75,000
ie ee
|2 Forklifts E $40,000
Crane 1 $15,000
Ta
SmalG rinders be $75,000
[Mills $35,000
NG Jig Grinder al $100,000 +
[ie
[4 CNC Machine Centers =| $735,000 |
al
IMiscellaneous Small Machines | $300,000
CITY ©: WAYNE
STATEMENT OF BENEFITS .
Vash eer
fe) FEorm SB- 1E ispr escribEed byt heSe tahte Bboaerde o fT axC ommissioners, 19B89 e UT = OE SA | EOE
P]
S
DEP; T. OwFe aSEt i DEEVVL .
1. JwmTuhahltiiyics o he1nsc, t t ”ta1 fht9rewe8o am7pmse e nrattpsnh lodenam anuapnsrwpetelida iss bch aaeendns teds s utiibcongm o nimcmatlmatatikieetimddtrn egaatd f o t idetttesrohd edub ceybu tcloiiytosd hni1ey.o, nda 1pe9pAasl8b ii7ogscS un tatarna etttqi,ewu nmhigeear ntnet htdh e aer ao S fpeT tpcboAr oeTondnEveeoMfesmid,iit g scnb a irtseet v h-niteoOait FlG ni ErzB aec.t qoieuoninor EemFad iIr2 eTcaiS f . SDt heCi(p rior1 ae rPtetona o td ,rhw ea tspo uAtbrdhleeaiatss.c ii d gHgante Oeaat.tr hetedsr“ wPariinosf j etEe E hceRtt hsAid” se spspilrt iaaontnrnae ettmidoen ongJno ut rbl omyocf duo r1 mse,m atii l1 tb9Pt8reeu7isorde ups eabtrnmotdi iya tnf ftttetfe e,c
S
itsur riengc eievqeudi pfmreonmt bectoomwenss hip assessore., unFloersms 3a2 2fi liEnRg Ae/xt ePnPsi omnu sth asb e befielned bobettawien e
l 4. BPernoepfeirtts.y o(wInCe r6s-1 .w1h-1o2s.e1 -5S.t6a)t ement of Benefits was approved after July 1
4
TAXPAYER INFORMATION;
Address of taxLpa.yHer. (strCeeta ranbd indumebe r, Ccioty,r sptaoter-aandt iZIoP nco de) / L.H. Stamping
4420 Clubview Drive, Fort Wayne, IN 46804
Name of contact person .
Dan Brehm, C.P.A. Tel(ep2h1on9e) num4be3r2 -5563
of TEET body
FORT WAYNE COMMON COUNCIL dereen number
Location of property RS
Taxing district
95-Ft Wayne - Wayne
Estimated starting date
TSE ote. 196
Estimated completion date
Current number
180
SECTION 4 ESO
NOTE: Pursuant to IC §-1.1-12.1-5.1 (d) (2) the
COST of the Property is confidential.
Current values Value Pad
ELPelusss evsatliumeast eodf avnayl uepsro poefr tPyr obpeoisnegd rperpoljaeccetd E en21e2.0 00 0 eEne E arrE ENT e
SECTIONS:
OTHER BENEFITS PROMISED BY THE TAXPAYER ah
tThrea incirnega tioofn emofp lopyeeremsa neanntd isnk iltlheedi r jowbosr.k enThvei roinnmveenstt.m ent in the
5) SECTIONG::
TAXPAYER CERTIFICATION
Signature of, authorized repr tative that the representations in this statement are true.
es Sie TitSle ea [7722 s Date sign ed (month, day, year)
EE :
We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the
vgiedneesr alfo r stthaen dfaorldlso wiangd opltiemdi tiant itohen asrs e asuoltuhtoiroinz edp reuvnidoeurs lyI Ca 6-p1p.r1o-v1e2d. 1-b2y. this boER dy. Saiwd er esolution,E peass ed under eIaCe 6-1.1-12.1-2a.5,e pr o-
A. The designated area has been limited to a period of time not to exceed i7 0T calendar years * (see below). The date this
designation expires is 3
B. The type of deduction that is allowed in the designated area is limited to:
1. Redevelopment or rehabilitation of real estate improvements; - . O Yes O No
2. Installation of new manufacturing equipment; ne O Yes O No
3. Residentially distressed areas ` i l : O Yes O No
C. The amount of deduction applicable for new manufacturing equipment instalied and first claimed eligible for deduction after July 1,
1987, is limited to $ cost with an assessed value of $
D. The amount of deduction applicable to redevelopment or rehabilitation in an area designated after September 1, 198 8 is limited to
$ -cost with an assessed value of $
` e
E. Other limitations or conditions (specify)
E. The deduction for new manufacturing equipment installed and first claimed eligible for deduction after July 1, 1991is allowed for:
O 5 years O 10 years
Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reason-
able and have determined that the totality of benefits is sufficient to justify the deduction described above.
Telephone number Date signed (month, day, year,
Leif 17 äert fa e Ee
Designated body
E
ARIIN] Eo AAH deL
* If the designating body limits the time period during which an area is an economic revitilization area, it does not limit the |e ngth of time
a taxpayer is entitled to receive a deduction to a number of years designated under IC 6-1.1-12.1-4 or 4.5 Namely: (see tables below)
For DeducAlltoweid Oovenr AsP er iod Oe
Five (5) Year Ten (10) Year Year of Ten (10) Year
Percentage Deduction Deduction
100% CS l
95%
er
COMMUNITY & ECONOMIC
"a `
(EP H MEMORANDUM
DEVELOPMENT
TO: Common Council Members
FROM: Trisha Gensic
Sr. Economic Development Specialist, Department of Economic Development
DATE: January 12, 1996
SUBJECT: Real and Personal Property Tax Abatement Application dated January 10, 1996 for L.H. Carbide
Corporation/LH Stamping
Address: 4420 Clubview Drive, Fort Wayne, IN 46804
Background
Description of Product or Service Provided by Company: L.H. Carbide is a tool and die operation that
designs and manufactures stamping dies. LH Stamping produces stamped products.
Description of Project: The building expansion will be approximately 10,000 square feet and house
engineering operations and some offices. The company will make additional investments in equipment, such as:
presses, line controls, conventional EDM, wet grinders, a jig CDC grinder and other various machines.
Total Project Cost: $3,850,000 Number of Full Time Jobs Created: 40
Councilmanic District: 4 Number of Part Time Jobs Created: 0
Existing Zoning of Site: M2 Average Annual Wage of Jobs Created: $22,672
Number of Full Time Jobs Retained: 180
Number of Part Time Jobs Retained: 2
Average Annual Wage of Jobs Retained: $37,320
Project is Located Within a:
Designated Downtown Area: Yes_ No X Redevelopment Area: Ven No X
Urban Enterprise Area: Yes_ No X Platted Industrial Park: Yes X No `
Effect of Passage of Tax Abatement
Forty additional jobs will be created and 180 jobs retained. Savings from the tax abatement will be used to make
additional investments in equipment and training. Company investment will result in $279,185 in paid taxes.
Effect_of Non-Passage of Tax Abatement
The company will forego its plans to expand, thus 40 additional jobs will not be created.
Staff Recommendation
Per the established policy of the Department of Economic Development, the following recommendations are
made:
1. Designation as an "Economic Revitalization Area" should be granted.
2: Designation should be limited to a term of four years.
3. The period of deduction for equipment should be limited to five years.
4. The period of deduction for real property should be limited to ten years.
Signed: Title
Comments
DIRECTOR: