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HomeMy WebLinkAboutCC-08-04-08-02 ERA/Parmakon Compounding PharmacySponsor:' Councilor Snyder RESOLUTION CC-48-04-08-02 A RESOLUTION OF THE COMMON COUNCIL OF THE CI'T'Y OFCARMEL, INDfANA DESIGNATING 801 CONGRESSIONAL BLVI) AS AN'ECONOMIC;REVITALIZATION AREA WHEREAS, LC. 6-1.1-12.1 authorizes.par€ial abatement,ofpcrsonai property-taxes attribuiable-to the installation of.new qualiEyng information-technology, telecbmmunications, laboratory equipment, and research .& development equipment,-and WHEREAS, I.C. 6-1.i-1`2,1 cmpmvers the,Common Council of the City of Carmel; Indiana (the "Council")''to designate;an area as•ait, Economic Revitalization„Area,("ERA"), determine the duration of the abatement pe>'iod(s) for'such,property and impose otherteasonable conditions; and WHEREAS.,a Designation Application'(as defined in I C 6-1:1-12.1-1-) has heretofore been filed with the Council by Pharmakon Compounding Pharmacy-and Pharmakou Long Tenn Care Pharmacy, Inc. ("the Companyand`such Designation.Applicationsrequesfs that the=real. estate located.at 801 Congressional.Boulevard,.Carmel., Indiana and legally ftscri4ed'the'rein,(th6 "'Site") be designated as an, ER, and WHEREAS, the.Companyt i[I lease the Site for'their new headquarters and-operations facility, provided thaftlie Company is able to obtairrpersonal property'tax deductions as authorized by I.C. 6-1.1-11 ]; and WHEREAS„the Company seeks to have"the Council authorize`peraonal property tax .11 . deductions in connection,with.the quali fying'investment related to.the installation of new 'informatiorl teahnology,'telecoriirnunicatipns, laboratory; and,research.& development equipment, and WHEREAS, the Council has.reviewed such Designation Application together with'the Company'_s Statement of"Benefits (Form SB-1) and'now desires to,take:actions hereinafter set forth. NOW, THEREFORE, based upon a'.review of the Designation Application and Statement of Benefits (Form, S13-1) heretofore filed by the Company"the'Couneil hereby makes the following findings:, FINDING], The Site is or has,beco ne undesirable for normal development due. to the, following economic-conditions: (a) Tie Site has experienced a lack of deveio}invent and growth over recent years; (b) Vacancy rates for office space4rt [hCarea=and an,,tabundance of sublease opportunities evidenee'anoversupply of office,space,in the 11 i'n the geographic.area'wliere tie Site is located (the "Corridor"). (c) The Company's.proposed.development of the-site°as,an expansion of its corporate vadquarters is consistent-with-fhe.site,!S existing zoning and represents,a superior, use for the site. (d) The Site is•zened for and;generally suiWIrle,for use as an -office development; however, there is a lack _ofdemand for office-building developments inthe,Corridor due to the economic conditions currently present. (e) The Company's plans-to'install new personal property and make.real estate•improvemertfs will result',in.an addition to the Corridor's overall assessed value within an accelerated time period. FINDING2. 'The proposed development oflhe.Site:by the Company meets the, parameters set forth in. Council,Resolution No. CC-OM5-01 02. FNDII`i r'3. Theestim,ate of the cost and assessed value of the Company' s' proposed development, oftheSite'is,reasonable-for projects ofa similar nature:: FINDING 4. The estimate of the number of individuals who will be employed (i.e., approximately 90 17TEs-over. the initial ten-year.period) `cAn'be reasonably expected to result from the Corn pany;s,proposed development of the Site. FTNDNG.5. The estimate of the anti salaries(i.e., average :of greater than $50;000 per annum) of those individuals who will be,employed can be reasona6ly- expected to result from the,Coitipany's proposed re-development of the'Site. FINDING b: The estimate of the cost and,asscssed value ofthe new information technology, telecommunications, laboratory, and research & development equipment, is reasonablc?for'a project of-this type. FINDING 7: With respecrto the'enew`information technology, telecommunications, laboratory„ and research &. development,equipment„the estimate of the number, of'indivi'duals w€ o will be, emplpyed•(i.e:, approximately 90 F.TEs over theainitial,ten-year period) can.be reasonably expected to result"Frorn'the development of the Site acid installation of the new 6,&sod6l property.. FINDING;8'. `Thu estimate;of the annual salaries (i.e,, averag -of•greaterlthan $50,400: per annum)^of those individuals-who will be.efnployed can be reasonably expected to resulL:fiom the development of the Site, the installation of the new, personal property. FINDING 9:. The Company wili'be activescorporate citizens-;involved iri:and' committed to the city of Carmel, FINDING 10. The:Company'sexpanded corporate headquarters in CafmcLis,consistent With the-goals and vision established•by the city of Carmel and Hamilton County,Aliiance, 'FINDING 11. Other benefits,that can be reasonably expected to result from the Company's proposed develoopment of the site and installation ofihe new personal property. FINDING-11 The totality ofbenefits is sufficient;tojustifypersonal property tax deductions herein described. NOW, THEREFORE, BE fT,RESOLVED THAT, a legal description ofthe previously declared ERA has been attached hereto as Exhibit A: BUIT'FURTHER RESOLVED THAT, the Site is'hereby declared,an.ERA.:for purposes of granting personal property tax abatetnentAn siipporf of the expansion of the Company's corporate headquarters, the'' installation of new information technology. telecommunications, laboratory, and research,& dcvelopmerit equipment. BE.IT.FURTHER RESOLVED THAT, the number of years:for which-the Company is entitled to a deduction for investmentsmade in new information`tcchnclogy tc1ecoromunications laboratory;,and-research kdevelopment equipment, pursuant to LC. 6-1. 1-12-.1 shall'beten (10)'. BE IT• FURTHER RESOLVED THAT, the Carmel City Council shall have4the.right to reducc?thelength of and/or end the economic revitalization -area designation period-granted,far the site-s ho old` tile.c6rnpdny and/or a subsequent owner oftl-e Companfnot-,futfill commitments made to the.&y of Carmel regarding•thc;amount of capitai, investmentj ob creationfretentiowand average annual salary 'levels. BE.IT. FURTHER RESOLVED THAT„in the,,eve_nt the Company°is,sold to anew owner, the new owner of the coffpany shall appear before the.CarnM City Council'wifhin 10 days of closing on the purchase of the company to.present-information.regarding the plans for the company's operations in the city of Carniei. BE_IT FURTHER RESOL.VED.THAT,'the deductions authorizedaerein,are ca_ntingent upon the designation'of the,ERA,prior to theainstallation new irifbrmat,ion'technology, telecotmnunications,.laboratory,.aniiresearch -development equipment. BE IT FURTHER RESOLVED THAT, if the Site'is located,m.an at l'ocation' area (as defined in I.C.36-7-14-34 cr_I.C. 36-7-15.1-26j.-an application for the property tax deductions approved herein shall also be subject to the approval of the.commission„tliat'designated the' allocationarea:as required under I.C. 6-1.1=12.1. BE IT FURTHER RESOLVED THAT, this ResolutionArall be filed with the;Hamihon Cotinty,Asscssor as required by LC.,6.1.,1-12.1;. BE IT FINALLY RESOLVED THAT.notice,of the adoption of and the substance?of this Resolution shall b6?published.in?accordance with I_C..:5-3-I and that such notice shall-be in'the form artached hereto and incoeporate&herein as-Exhibit.B. Adopted by,the Cornrnon:Council of the City of Carmel, lftdiana this 4+1-day-of 20 08-. by'a;vote of `7 ayes .and 6 mays: COMMON COIUNCIL OF THE CITY'OF CARMEL ATTEST: Aa_? (Diana L_ Cordray, ]AMC C Presented by me-to the 4uthe city of Carmel, Indiana this l? ny'of' at '..13 QQm. A ,proved.by ine; Ma'yor of.the City of Carmeljndiana this 114 t` day of 2n.no at 3"ss P. M.: ATTEST: _ Diana L. Cordra}a IAMC; Clerk-1 surer Prepared'by. Katie Culp, Senior Vice President Location- Advisory.&. Incentives, Practice. Colliers Turley Martin Tucker One Anterican,Square; Suite 1300 Indianapolis„Ind iana 46282 317-639-0413 phone kcitlp rrctrnt.ct m email es B3anard, Mayor EXHIBIT A A,L_ AND BOUNDARY DESCRIPTION OF THKINALDING AND LAND LOCATED AT 801 CONGRESSIONAL BLVD, ,HAMILTON COUNTY,: INDIANA ;200$; PAGE°I'OF 1 801 Congressional.Boulevard Carmel; _IN 46032 'Pa rcel'No: 16-09-35-00-02'-005:000 .Lot'PTI, Block 1R11,,Carnrel Science:&"Technology, containing 1.43 acres Legal -Description: Part•ofBlock 11 in the..Conditional Secondary Plat of Carmel Science, and Technology Park, a. subdivision in Hamilton County; Indiana, the plat of which is recorded in Plat Book f3, pages 65-71, amended by Certificate of Correction recorded-as ;rnstrum'edt No. 8701640.m theOffice: of -the Recorder of. Hamilton County, Indiana. Except.the following: Beginning;at the Southwest,corner of the Northwest Quarter of:Section 36, Township 18 North; Range 3 East in Hamilton County, Indiana:(5/8"`rebar with cap marked "Schneider Engr. Corp."), thence North 88 degrees 59 minutes 30 seconds East(assumed.bearing) along the South tine.of said:Nortliwest Quarter Section and along,the South fine of:said`-Block U a.distance of 401.50 feet to a 518" rebar with cap marked."SchneiderEngr. Corp.' %, thence North 01 degrees 00 minutes 304econds Wesra:distance of 26500. feet to a 518" rebar with cap marked "5chneider:Engn Corp.'; thence;North 88 degrees 59minutes .30 seconds East,: parallel with the said South ,line, a distance of 20'.00.feet:to:a;578" rebar with cap marked "SchneiderEngr. Corp."; thence North 01 degrem0t) minutes 30 seconds West a distance of 190A0 feetto a 518" rebar with:cap:marked'"Schneider.'Engr. Corp.'; thence North,30 degrees 46 minutes 06 seconds West a distance of,.I'l&64 feet to a 518" rebar with cap'marked"Selineider Engr. 'C6rp_" on the Northerly line of said Block ,I I whieh,,said:poim 1ies.on'acurve having-a radius of710:00ifeet;. thpjadius point of which bears North'34degrees 31 minutes=39 seconds West (the nextfive courses'are'along•,the Northerly, Westerly, and Southerly'lines of_said.Block'1 thence Westerly along the'arc of said curve a distance.of 413.25 feet to'a 5/8" rebar•)Ath cap marked "SchneiderEngr. Corp•":which beaErrSoilth,0,1 degrees 10 minutas.44 seconds EastOorri said radius point; (?)'thence South 88 degrees 49 minutes 16 seconds West a distance of 102.99 feet to a 5/8" rebar with cap marked "Sclneider Engr. Corp." and a.cvrve having a radius,of 2Q'.00 feet,'theradi'us point'of which bears South Ol.degrees 10 minutesA4:seconds'East1 (3) thence Westerly:and Southerly along the.arc of said cane wdistancc?of 31.42 feet to_a.5/8'' rebar with cap marked "Schneider Engr..Corp'' which bears South 88'1degrees 49 minutes 16 seconds West from said radius point; (4) thence4South.01 degrees 10 minutes+44 seconds Easta distance of 420.00 feet-to a 5/8" rebar with cap marked "SChneider.Engr. Corp." on the South line of the, Northeast Quarter of,Seetlon 35i Township 178, North, Range'9 East; (5) thence North 88 degrees 49.minutes 16 seconds East along the Soutlr line;thereof, and the South•line of,said Block 11 a distance of 148.13 feet to the Point;ofBeginning;,coritaining 6:07 acres; more or less. EXBJ BIT B NOTICE OF ADOPTION REGARDING THE' APPROVAL OF A TEN-YEAR PERSONAL PROPERTY TAX ABATEMENT FOR PHARMAI{ON LONG TERM CARE PHARMACY, INC AND PHARMAKON COMPOUNDING PHARMACY CORPORATE HEADQUARTERS EXPANSION PRO.FECT LOCATED AT 801 CONGRESSIONALBLVD,.CARMEL, INDIANA ,,2008 PAGE I OF I Notice.is hereby.given that the Common Council of the City of Carmel, Indiana did on the 4th of Aubst, 2008 adopt a Resolution approving a ten-year personal,property tax abatement for Pharmakon Compounding Pharmacy and Pharmakon Long Term Carc-Pharmacy;.lne'for its investment in its,corporaie headquarters expansion project.to be located 801 Congressional Blvd, Carmel,-Indiana. This Restilution, which'affects the following described property located; in the City o£Cannel, Indiana:. 801 Congressional Blvd, Clay Township, Hamilton County,, was, adopted following;the filling of information by Pharmakon Compounding Pharmacy and Pharmakon-Long,Terrn Care, Pharmacy, Inc, *and the previous approval of the designation of property located at 801 Congressional-Blvd as an-Economic Revitalization Area°:for thepwposc, of securing an abatement of pcopehy taxes pursuant to Indiana Code .Section 6-1.1-12.1=relative to the :installation of new informatioim;technology, telecommunications, and research & development, equipment. Such Resolution previously approving such properryas,anEconomic Revhlization Area and such Resolution,approving,a ten-year personal property tax abatement for'Phannakon Compounding P. har macy and Pharmakon Long Term Care Pharmacy; Inc were provided by the Common Council of thc,City of Carmel,.Indnma on-the,._ day of August, 2008. 'Furthermore, the Resolution states that on the _ day of Au' "1st; 2008 at.61p.m( in the Council Chamber Room located at One Civic Square, Carmel, Indiana 46032, the Common Council met to hear public,comment from personsinterested in these.pioceedings,and make a determination_about approving a'ten-year personal property tax abatement for Pharmakon Compounding-Pharmacy and Pharmakon Long Term Care'Pharmacy,, Inc`for,its investment in new information technology, telecommunications and research 8 development'equipment. A,description.bf information related to Pharmakon Compounding Pharmacy's.and Pharmakon Long Term Care Pharmacy,'Inc's project and acopy of such Resolution are available for inspection-in the Hamilton County Assessor's Office, Suite 214,;33.North 9"' Street; Noblesville, Indiana 46060. 801 Congressional Boulevard Carmel, IN 46032 Parcel No: 16-09-35-00-02-005.000 Lot PTI, Block PI L, Carmel Science & Technology, containing 1.43 acres Legal Description: Part of Block 1 l in the Conditional Secondary Plat of Cannel Science and Technology Park, a Subdivision in Hamilton County, Indiana, the plat of which is recorded in Plat Book 13, pages 65-71, amended by Certificate of Correction recordedas'instrument No. 8701640 in the Office of the Recorder of Hamilton County, Indiana. Except the following: Beginning at the Southwest corner of the Northwest Quarter of Section 36, Township 18 North, Range 3 East in Hamilton County, Indiana (5/8" rebar with cap marked "Schneider Engr. Corp."); thence North 88 degrees 59 minutes 30 seconds East (assumed bearing) along the South line of said Northwest Quarter Section and along the South line of said Block 11 a distance of 401.50 feet to a 5/8" rebar with cap marked "Schneider Engr. Corp."; thence North 01 degrees 00 minutes 30 seconds West a distance of 265.00 feet to a-5/8" rebar with cap marked "Schneider Engr. Corp.'; thence North 88 degrees 59 minutes 30 seconds East, parallel with the said South line, a distance of 20.00 feet to a 5/8" rebar with cap marked "Schneider Engr. Corp."; thence North 01 degrees 00 minutes 30 seconds West a distance of 190.00 feet to a 5/8" rebar with cap marked "Schneider Engr. Corp.".; thence North 30 degrees 46 minutes 06 seconds West a distance of 118.64 feet to a 5/8" rebar with cap marked "Schneider Engr. Corp." on the Northerly line of said Block 11 which said point lies on a curve having a radius of 710.00 feet, the radius point of which bears North 34 degrees 31 minutes 39 seconds West (the next five courses are along the Northerly, Westerly and Southerly lines of said Block 11); (1) thence Westerly along the arc of said curve a distance of 413.25 feet to a 5/8" rebar with cap marked "Schneider Engr. Corp." which bears South 01 degrees 10 minutes 44 seconds East from said radius point; (2) thence South 88 degrees 49 minutes 16 seconds Westa distance of 102.99 feet to a 5/8" rebar with cap marked "Schneider Engr. Corp." and a.curve having a radius of 20.00 feet, the radius point of which bears South 01 degrees 10 minutes 44 seconds East; (3) thence Westerly and Southerly along the arc of said curve a distance of 3 1.42 feet.to a 5/8" rebar with cap marked "Schneider Engr. Corp." which bears South-88 degrees 49 minutes 16 seconds West from said radius point; (a) thence South 01 degrees 10 minutes 44 seconds East a distance of 420.00 feet to a 5/8" rebar with cap marked "Schneider Engr. Corp." on the South line of the Northeast Quarter of Section 35; Township 18 North, Range 3 East; (5) thence North 88 degrees 49 minutes 16 seconds East along the South line thereof, and the South line of said Block I I a distance of 148.13 feet to the Point of Beginning, containing 6.07 acres, more or less. STATEMENT Of BENEFITS + PERSONAL PROPERTY stoic Farm 6W64 (R r 1 061. Prescribed by the Department of Local. Government. Finance INSTRUCTIONS: 1. This statement most be information from the app/ to the designating. body f Revltafrzation Area FORM SB-1 I PP PRIVACY NOTICE 1'he oust and any specific individuars salary information i5 confidential, the. balance of the Filing is public reeord per IC 6-1 1-12.1-5.1 c and (d). to and areas designated after July 1-1997, require a''S TATEMENT OF BENEFITS. (1G6-1.1-12.1) 2. Approval of the designating body (City Guuneil, Town 8bard,4Co?nty Cpunol, ek.i most be obtained. prior to ms6i6fion of tire new manufacturing equipment and/or research and development equipment, and/or logistical distribution equrpTent and/or,in;ormation?technology equipment, BEFORE a deduction may he approved 3. To obtain a deduction, a person must friers certified deduction schedule with the person'spersonal property return on. acemfred deduction schedule (Farm 103-ERA) with the township assessor of ttie'township.viheia me property l5sftifatetl. The 103-ERA must, be,5led,Deiween:March 1,and May 15 of Ike assessment year In which new rnanufacturiug_ equipment andior resoarch?and development equipment and(er'logisficaf distribution equipment and/or information technology equipment. is installed and fully tuncbonal, unless a filfpg-extensl6n has been'.obterned. Aperson who obtains a filing eufension must file the form between March Y`and the extended due'dare of that yger. 4. Property owners whose Statement of Pefiofifs. was approved"after June 30, 1991, mustsulimiGForm CF-7 /:PP;annually to show compliance with the. Statement of Benafits: (1Ak5.6), 5. The scheduies'established under IC 6-1>7-12.1-4.5(dJ and (e) apply. to dquipmen[in3pa!ledafter Marpli 1.2001. For. egiitpmem`v;-gfalled pifer to March .2, 2007, the schedules and statutes in effect attheHrmeshelf continue to_apply (IC 6 1r?-12.1-4.5(f)and (g)) • Pk?EJkiNEDR--- s Name. of taxpayer Pharmakon Long Term Care.Pharmacy, Inc. Address of lazp iyer(niuaber and'sreet,-city, spite, and zov code) 9465 Delegates Rowi.Indianapolis,46240 Name of confatl person Telephone number Paul Elmer, RPh (317(410-3178 Name of dnsigoafing body Resolution number (s) CalmeiCity Council ?9-34-o$G2?0?-tB o4 a Location of pronerly County DII la:ing'disvict number 801 Congressional Boulevard Hamilton 29-018 Description of manufadWring equipment andlor research are development equipment ESTIMATED andior logistical distribution equipment andior information technology equipment.: START DATE COMPLETION DATE (use additional shoals if necessary) Manufacluring Equipment o9r()1121]08 09/01/2009 Automated EXP 'packaging machinery MedBefect dispensing system' R 8 D Equpment Logist Disf equipment IT 'Equipment 0914112006 0910112009 • • '• a • -e-e a •-• Cunent number Salaries Number retained Salaries Number additional Salaries D 0:00 0 0.00 9a 4,500,000.00 • • • • e 0 ••• a -•• NOTE: Pursuant to IC 6-11-12.1-51 (d) {2} the MANUFACTURING R 8 D EQUIPMENT ELOGHST QUIPMEDIST NT IT EQUIPMENT EQIPMENT COST of the property.'. is confidential. COST ASSESSED COST ASSESSED COST ASSESSED COST- ASSESSED -- -- VALUE -..' 'VALUE -- VALUE' VALLJE Cumcr i values .Plus estimated values of proposed project 4sss00.co se,ooo.aq Less values of any property; being replaced, Net estimated values upon ,complebon. at project - •- FWASTJES4?LVtRTERJ?•NQJT • -e e Estimated solid waste convened (pounds) Estimated hazardaus waste converted (pounds) Other benefits.- _•. e.. 1 hereby. 6ertlty that (ne`reprESEnlahenS In this statement. are true. Si9rKf ulh ed sentalrve Tlle_ Dale signed fmonrii day,. year) President - A 6 8 -7- Xf fill We have reviewed our prior actions relaling to the dcsignauon'of this economic revualization area and"find that the applicant moets'the general standards adopted in the resolution previously approved by this body- Said,resclution; passed. under fC 6-1 A-12.1-2.5, provides for the to 11Dw6g li to Rations as authorized under lC 6,1,1-12.1.-2. A . The designated area has been limited -to.a.period,pf time not to exceed calendar years ' (see below)..-The_date this designation expires B . The type of deduction that is allowed in the designated area is . limited to, 1. Installation of new manufacturing equipment;. .2. Installation of new research and development equipment;; 3. Installation of new logistical distribul on equipment.. a. Installation of new information technology equipment: C. The amount oDdeduclion"appllcahle to'new• manufacturing. egmpmepfis-limited to $ ?Yes ©N6 ?Yes ?No ?Yes ?No ?Yes+ ?No cost with and assessed value of D. The amount of deduction applicable to new researchsano devetopment.equipment is limited to $ ___---- _------- cost with on assessed value of E..The. amount of deductionlappllcable; to raw logistical distnqution equipment is limited to$. "cost witd^an. assessed valueof F. The-amounto deduction applicable to new,intonnation technology equipment 1s limited to $ cost with an assessed value of G. Other, limitations or conditions (specify) H_' The dedtKtion for.i manufaclurirg,equipmenl andfoF rew research: and "development equipment andfor new logistical disMbut€on equipment andlor new ir$omni :technology equipmenCinstalledandrfirsPclairned eligible,for dedudt[on'ortor aHerJuly;1; 2000; is allowed ton ?1 year ?6 years For ERA's estatalished pnorto July 1, 2000, anlv'a; ?2 years ?7,yeam ' 6 or 10. yeatscnedulemal deducted. ?3.years ?a'..years ?4. years ?9„years ?5years° Elio years " Also we have reviewed the information contained. in the statementof,heni and find [hat the estimates and, expectations are reasonable and have determined that the totaidy of henefisls sufficient to justify the d6dUCLIOn described above. rptuved: (signotum an8 rifle of au?ii rr?emi Teiephone number Cale signed tmonrq. day.,yea4 by: ' It the designating body limits the. time pence during which an area Is an economic revitalization"areas it does not limilhhellenglh`of time a taxpayer is entitled to receive$tleduction to b number of,yaats designated?underIC 6-1:1-12.111.5 gG., STATEMENT OF BENEFITS PERSONAL PROPERTY N Stale Fonn 51764 (R l 1-06) ?---- Prescribed by the Department of Local Government Finance INSTRUCTIONS: 1- This statement must be submifted;to the body designating,tha,Economic RoJrt information' from the'appficant in making its decision about w.hefher fo designate an to the desianatina bodv BEFORE a person installs the new manuraduend eoufrime FORM SB-1 1 PP PRIVACY NOTICE The cost and any specific individual's salary inforriaVnn is confidenllalahe balance of the filingg is public record per1C6-1J-12.1-6:-1 (c and id). equipment and/or information technology equipment'forwhich the`persorl wishes to,clairn.a deduction' "pmjebts"planned or.commrlted io after July 1, 1987; and areas designated after July '1; 1987, mruufre a'STATEMENT of BENEFITS.., (W 6-11-12:1) 2 Approval of the designating body (City Counr,Il, Town Doard'Gounty;Counerl16fcmust be obtained prior-to insraVarfon of the new manufacturing equipment and/or research and development equipmenf andyorlogistical distribution equrNment and/oribmavahon technologi,etiu r'Aant, BEFORE a deduction'may be approved .3 To obtain a. deduction. a. person must File a cenified deduction'scheduie,with the'persnn's personal properfy.returrr on 'a certified dedvi6hon:sclfedule (Form 103 CRA) with the township assessor of lhe. township where'the property is situated. The 103-ERA,must be filed between March 1 imn,h4ay 15'of.mo assessment year rn which new manuficturing.equipment andror res6amh and development equipmenf'andloclogisNca7 drstnbufion equipment and/or informatiomteNrnolagy equipmenfis rnstalfed and,fulfy functional, unless a. king extension. has been obtained. A person who o6fams a Kling extension must t fite the form betwaamMarch'l:andfhe ertendaddue: date of fhaLyeac, 4. Properry owners whose Statemenbof Benefits was approved after June;:30,' 1991. must submit Form CF-1 / PP annbaily fb show compliance with the Sfafemerrt'of Benefits '(IC-rr1.1-12.d.-S.fi) - - - 5. The schedules established under tC 6 11-12,1-4 appfj to equipment installed after,March b„2001: For. equipment instarled prior to March 2, 2001. OWltchedules and'statutes in effect at dieiime shall continue to apply, (IC6-1.1-12. i-4.5(/J anti (gJ}. • •- Neme of taxpayer Pharmakon Compounding Pharmacy Address cf tixpayeT.inumlie arrdSlieei„city 'saiie, anil'Zlp code) 9465 Delegates Row. Indianapolis, 46240 Name of contact peisdn Telephorte number Paul Elmer, RPh . .. . . _ (317)410-3178 e : a:a r •• ..• s •• a ISECTLONT2 Nerne. of desigraling boiry Resolution number (s)' Carmel City Council R-Oy-08-DL o8' iS-.Cq,-0` Lnaa(ron of p.pedy Gounly 01-GF taOng dislrld number 801 Congressional Boulevard Hamilton 29-018 Description of marufacturing squipmeht-andfaf research and development equipment ESTIMATED , andldr logistical. dlsmpu5an,equipment addtor informationtechndlogyequipment: START DATE COMPLETION C)ATE (rise additional shears if necessar)) Servlcof Modular CIe211rOQm Manufacturing Equipment 09101/2008 09/0112009 R,& D Equipment Ldgist Dist Egwpmehl IT Equipment Current number Salaries Number retained' Salaries Number a dditi.nal Salaries 0 0:00 0 0.00 90 4,500,000.00 e • • s • a • e " • ? • • a NOTErPursuant to IC 5,1 (d) 2 the MANUFACTURING "R:.B.D EQUIPMENT LOGISTDIST IT EQUIPMENT [ } EQUIPMENT EQUIPMENT COSTof the, properly is. confidential. COST ASSESSED COST ASSESSED ASSESSED COST ASSESSED coST VALUE VALUE VALUE VALUE Current values Pfusesfimated Values of. proposed project 76,500,00 Less values of any property being replaced Net estirrlaled values upon complodon of project _ o • •- r o - •• r c Estimated slid waste converted (pounds) Estimated hazardous wa,[e converted (pounds) otr,er denefiw • e.. Z/ or? 16ereby certify that the representations' iri th e,siatement'are true'. Sgnalare of '[ IVa 71116 Daleilgned [mArith; tloµ }YF..9r), President 1 -7-29- 19 40 sr We have reviewed our priara ions relating to the designation of,this? economic revitalizafion area and find that the: apps icantmeets.the general stand a ids adopted in the resolution previously approved by this body: Said resolatom,' passed under lC 3-1- 1-12.1-2:5, provides for the following limitations as authorized under IC 6-1.1-12.1-2: A . The designated. area has been limited to aperiod of time not to exceed G . The type of deduction that is allowed in the' destgnated.area is knifed to! 1. Installation of, new manufacturing equipment. 2. Installation of new research and development equipment 3. Installation of,new Ioglstical distribution equipment. 4. Installation of new information technology equipment,. calendar;years '(see below). The. date this designation expires. ?Yes ?N.n ?Yes; ?N.o ?Y,es ?N o ?Yesa. FjtV.o,. G. The amount. of deduetion;applicadle to?new mamlfacluring-equipmenl'is timited,go $ cost with an assessed value of ?- The amount of deduc tion.:appli cable to new research and developmehi-equipmemt is IirrSitetl to $ with an assessed value of $ cost The amount of deduiiton'appi icable to new logislical distribution equipment is limited .to'$ ;cost with an assessed value, of F. The amount,of deduction apphrahle to new information technology equipment 1s.iimited to $ cost with an assessed. value of G;:.Other1lim fat or conditions (sps H. The deduction far now;manufacturing equipment'andlor new;research-and?develoumenfequipmeri[andlor.newlogistical distubution equipment and/or new information technology equipment installed and first claimed`eligible for deduction 6r or after July 1, 2000f is allowed for! ?f year ?6 years For ERA's: established priorto:July 1, 200q only a ?2 years ?7 years 5or40 yearschedule Pay de deducted. ?3 years ?8.years ?4 years ?g.years ?5 years?10. years Also we have reviewed the information contained in Via statement of benefits and. find. that the -estimates and, expectations are reasonable and have determined that the totalily. of bene9ts'is suriftief l !a justify the. deduction described ahove. ' W Talepnone if the designating. body limlts:he time, period during which an amals an economic revitafizadon area, it does.not limit the length of time.a taxpayer is entitled to receive a deduction to a number of years designated uhdeiriC 671:1'12 1-4.5 ct-111-1' O_v Guml-i?fl fnnn.ti l,Sit?cl:?altl?. I',?[Atalt)If .icily 17. 2008 M1_ Pact C1111en- I'residcnt Mtigaiolia Ho.ildicare 9465'Delegatcs Row- Indialapolis, Indiana 46240 Dcar Raid: The City- of 'Carmel appreciates the opportunity to. discuss Magnoiia Healthcare"s and Pharmikon's headquaucls?piojc6Gau`d Participate in the coinpany's potantia] relocation to` Cannel. We are excited to hear that Magnolia Healthcare and Phsn?makon Nvill initially employ approximately 36 people with a payroll of S2, 469,000:per year (without h"encfits) dr an n erase ;salary of 564,947. tt-is,also my understanding that the-company plans to.grow_by 52 positions over the next -Eve years with an averagcwsalary or $50;000. We are^"also pleased to Icam that the Compa6y is projecting to invest $93C,000 in.real and.personat property. We understand thil your, companics-are, currently looking tor'space to lease in Carmel. We lalso, understand that the company is evaluating siting options in othcr sfeitcs- hcsides Indiana. In support-of the companies' growth plans', the City of Carmel proposes atoll^(1':0) year personal pi;opcrty tax abaterndi`et with a, total value of $,16,693. This pi!oposal.i°equnes farmaL.rcviewaand approi'al of the Carmel City Council. I am conflaentthat tile City of Carmel is, an cacellent dommunity fiir.life'science.conipaiii&.S like Magnolia Healthcare. and tPliarmakon. Carmel will also assist the company tlwough its local planning and permiUiii?:l?roces4- r)"?: i„$i9t; If you Lave any Carmel related questions; do not;itesitate to contaotMe. Very truly yours, : I I J :T3rainard /mayor CC: ]eft Burc,.llamilton,County Alliance Katie Culp, CTMT