HomeMy WebLinkAboutCC-08-18-08-01 The Capital Group Co./ERASponsors: Councilors Carter; Sharp and Snyder
RESOLUTION CC-08-18-08-01
A RESOLUTION ("RESOLUTION") OF TILE COD'INION COUNCIL OF THE CITY OF CARMEL,
INDIANA, APPROVING A TEN-YEAR (10) REAL AND PERSONAL PROPERTY TAX
ABATEMENT FOR THE CAPITAL GROUP COMPANIES, INC. LOCATED AT THE
NORTHEAST CORNER OF CARMEL DRIVE / 126""' STREET & NORTH MERIDIAN STREET
WHEREAS, I.C. 6-1.1-12.1-4 authorizes partial abatement of personal property taxes attributable to
the installation of new qualifying information technology/ teleconmwnications equipment, and computer
hardware, and partial abatement of real property taxes attributable to improvements made to real estate; and
WHEREAS, I.C. 6-1.1-12.1-2.5 empowers the Common Council of the City of Carmel, Indiana (the
"Council") to designate an area as an Economic Revitalization Area ("ERA"), determine the duration of the
abatement period(s) for such property and impose other reasonable 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 The Capital Group Companies, Inc. ("the Company"), and such Designation Application
requests that the real estate located on the northeast corner of Cannel Drive / 126'h Street and North Meridian
Street, Carmel, Indiana and legally described therein (the "Site") be designated as an ERA; and
WHEREAS, the Company will own real estate for their new regional.operations facility, provided
that the Company is able to obtain real and personal property tax deductions as authorized by I.C. 6-1.1-12.1-
4; and
WHEREAS, the Company seeks to have the Council authorize personal property tax deductions in
connection with the qualifying investment related to the installation of new information technology 1
telecommunications equipment, and computer hardware, and real property tax deductions in connection with
real estate improvements at the Company's new regional operations center at the intersection of Carmel
Drive / 126"' Street and North Meridian Street; 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 SB-1) heretofore filed by the Company, the Council hereby makes the following findings:
FINDING 1. The Site has been undesirable for normal development due to the following economic
conditions:
(a) The Site has been largely vacant for more than ten (10) years.
(b) Vacancy rates for office space in the area and an abundance of sublease
opportunities evidence an oversupply of office space in the Corridor.
FINDING 2. The Company's development of the site as a regional operations center for the
Company is consistent \vith the site's existing zoning and represents a superior use for
the site.
FINDING 3. The Company's plans to install new personal property and make real estate
improvements will result in an addition to the Corridor's overall assessed value within
an accelerated time period.
FINDING 4. The proposed development of the Site by the Company meets the parameters set forth
in Council Resolution No. CC-02-05-01-02.
FINDING 5. The estimate of the cost and assessed value of the Company's proposed development
of the Site is reasonable for projects of a similar nature.
FINDING 6. The estimate of the number of individuals who will be employed (i.e., approximately
929 FTEs) can be reasonably expected to result from the Company's proposed
development of the Site.
FINDING 7. The estimate of the annual salaries (i.e., average of approximately $45,000 per annum)
of those individuals who will be employed can be reasonably expected to result from
the Company's proposed re-development,of the Site.
FINDING 8. The estimate of the cost and assessed value of the new information technology /
telecommunications equipment, and computer hardware; and the estimate of the cost
and assessed value of real estate improvements is, reasonable for a project of this type.
FINDING 9. With respect to the new information technology/telecommunications equipment, and
computer hardware, and real estate improvements, the estimate of the number of
individuals who will be employed (i.e., approximately 929 FTEs) can be reasonably
expected to result from the development of the Site, installation of the new personal
property and completion of real estate improvements.
FINDING 10. The estimate of the annual salaries (i.e., average of approximately $45,000 per annum)
of those individuals who will be employed can be reasonably expected to result from
the development of the Site, the installation of the new personal property and
completion of real estate improvements.
FINDING 11. The Company will be active corporate citizens involved in and committed to the city
of Carmel.
FINDING 12. The Company's regional operations facility in Carmel is consistent with the goals and
vision established by the city of Carmel and Hamilton County Alliance.
FINDING 13. Other benefits that can be reasonably expected to result from the Company's proposed
development of the site, installation of the new personal property, and completion of
real estate improvements.
FINDING 14. The totality of benefits is sufficient to justify real and personal property tax deductions
herein described.
NOW, THEREFORE, BE IT RESOLVED THAT, a legal description of the previously declared
ERA designation has been attached hereto as Exhibit A.
BE IT FURTHER RESOLVED THAT, the Site was previously declared as an ERA for purposes
of granting personal property tax abatement in support of the new qualifying information technology /
telecommunications equipment, and computer hardware, and real property tax abatement in support of real
estate improvements.
BE IT FURTHER RESOLVED THAT, the number of years for which the Company is entitled to a
deduction for investments made in the new qualifying information technology / telecommunications
equipment, and computer hardware, and real estate improvements pursuant to I.C. 6-1.1-12.1-4 shall be ten
(10).
BE IT FURTHER RESOLVED THAT, the Carmel City Council shall have the right to reduce the
length of and/or end the real and personal property tax abatement granted for the site should the Company
and/or a subsequent owner of the Company not fulfill commitments made to the city of Carmel regarding the
amount of capital investment, job creation/retention and average annual salary levels.
BE IT FURTHER RESOLVED THAT, in the event the Company is sold to a new owner, the new
owner of the company shall appear before the Carmel City Council within 90 days of closing on the purchase
of the company to present information regarding the plans for the company's operations in the city of
Carmel.
BE IT FURTHER RESOLVED THAT, the deductions authorized herein are based upon the
approval of a ten-year real and personal property tax abatement prior to the installation of new qualifying
information technology / telecommunications equipment, and computer hardware, and the completion of real
estate improvements.
BE IT FURTHER RESOLVED THAT, if the Site is located in an allocation area (as defined in
I.C. 36-7-14-39 or I.C. 36-7-15. t-26), an application for the property tax deductions approved herein shall
also be subject to the approval of the commission that designated the allocation area as required under I.C. 6-
1.1-12.1-4.
BE IT FURTHER RESOLVED THAT, this Resolution shall be filed with the Hamilton County
Assessor as required by I.C. 6-1.1-12.1-4.
BE IT FINALLY RESOLVED THAT notice of the adoption of and the substance of this
Resolution shall be published in accordance with I.C. 5-3-1 and that such notice shall be in the form attached
hereto and incorporated herein as Exhibit B.
PASSED by the Common Council of the City of Carmel, Indiana this day of
a , 2008, by a vote of 7 and ?_. nays.
COMMON CO NCIL OF TILE CITY OF ARM
r
residing Of?r tic nydej t
R'o'nald E. Carter Itevin Rider
r°
! ?vti
ohn ccetturo Eric Seider(s
ATTEST:
Diana L. Cordray, Clerk-Treasur
Presented by me to the Mayor of the City of Carmel, Indiana, the
r1.L>_Q`X=&Jt? , 2008, at 7.00 P .m.
?Ij
Approved by me, the Mayor
2008, at y
ATTEST:
Diana L. Cordray, Clerk-Treas er
Prepared by: Larry Gigerich, Mana ' g Director
Ginovus
8888 Keystone Crossing
Suite 1450
Indianapolis, Indiana 46240
317/819-0890 (telephone)
3171819-0888 (facsimile)
Larry(@,Ginovus.com (e-mail)
of the City
t-1 P An.
Cordray, Clerk-
of Carmel,
l8 day of
19 day of
- Z4,1 - - I
Ames Brainard, Mayor
EXHIBIT A
A LAND BOUNDARY DESCRIPTION OF TIIE BUILDING AND LAND LOCATED.A"r TIIE CORNER OF
CAR.MEL DRIVE / 126 " STREET AND NORTH bLERIDIAN STREET,
FIM11ILTON COUNTY, INDIANA
AUGUST 18, 2008
PAGE 1 OF 1
Record Description - Instrument No. 99-1721
Part of the Southwest Quarter of Section 26, Township 18 North, Range 3 East in Hamilton County, Indiana,
more particularly described as follows:
Commencing.at.the Northeast corner of said Southwest Quarter Section; thence along:the East line thereof
South 00 degrees 10 minutes 07 seconds East (assumed bearing) 439.67 feet; thence parallel with the North
line of said Quarter Section South 88 degrees 42 minutes 47 seconds West 45.39 feet to a point on the
Westerly right of way line of Pennsylvania,Strcet, the dedication of public right of way of which was
recorded December 9, 1986 in Book 4, on pages 697 thru 701 in the Office of the Recorder of Hamilton
County, Indiana, which said point is the point of beginning (the next four courses are along said right of way
dedication); (1) thence South 05 degrees 43 minutes 38 seconds East 68.84 feet to a curve having a radius of
788.95 feet, the radius point of which bears South 84 degrees 16 minutes 22 seconds West; (2) thence
Southerly along said curve 76.54 feet to a point which bears North 89 degrees 49 minutes 53 seconds East
from said radius point; (3) thence South 00 degrees 10 minutes 07 seconds East 1754.23 feet to a point on the
Northerly right of way line of 126th Street; (4) thence South 89 degrees 54 minutes 47 seconds West 547.52
feet to a point on the Easterly right of way line of U.S. Highway #31 (Line °K" for I.S.H.C. Project ST-F-
222 (9) DTD 1973); thence along said right of way line North 00 degrees 03 minutes 57 seconds West
1588.24 feet to a curve having a radius of 2146.83 feet, the radius point of which bears North 89 degrees 56
minutes 03 seconds East; thence Northerly along said right of way line and said curve 301.18 feet to a point
which bears North 82 degrees 01 minutes 41 seconds West from said radius point; thence parallel with the
North line of said Quarter Section North 88 degrees 42 minutes 47 seconds East 512.76 feet to the point of
beginning.
Subject to all legal easements and rights-of-way
Land Description - Parcel I
Part of the Southwest Quarter of Section 26, Township 18 North, Range 3 East in Hamilton County, Indiana,
more particularly described as follows:
Commencing at the Northeast corner of said Southwest Quarter Section; thence along the East line.thereof
South 00 degrees 10 minutes 07 seconds East (assumed bearing) 439.67 feet; thence parallel with the North
line of said Quarter Section South 88 degrees 42 minutes 47 seconds West 45.39 feet to a point on the
Westerly right of way line of Pennsylvania Street, the dedication of public right of way of which was,
recorded December 9, 1986 in Book 4, on pages 697 thru 701 in the Office of the Recorder of Hamilton
County, Indiana, (the next four courses are along said right of way dedication); (1) thence South 05 degrees
43 minutes 38 seconds East 68.84 feet to a curve having a radius of 788.95 feet, the radius point of which
bears South_84 degrees 16 minutes 22 seconds West; (2) thence Southerly along said curve 76.54 feet to a
point which bears North 89 degrees 49 minutes 53 seconds East from said radius point; (3) thence South 00
degrees 10 minutes 07 seconds East 113 1.23 feet to the Point of Beginning of this description; (4) thence
continuing South 00 degrees 10 minutes 07 seconds East 622.69 feet to a point on the Northerly right of way
line of 126th Street; thence along said right of way line South 89 degrees 54 minutes 47 seconds West
547.52 feet to a point on the Easterly right of way line of O.S. Highway #31 (Referenced from Line "K" for
I.S.H.C. Project ST-F-222 (9) DTD 1973); thence along said right of way line North 00.degrces 03 minutes
57 seconds West 623.52 feet; thence North 90 degrees 00 minutes 00 seconds East 546.40 feet to the point of
beginning, containing 7.824 acres, more or less.
Subject to all legal easements and rights-of-way
Land Description - Parcel II
Part of the Southwest Quarter of Section 26, Township 18 North, Range 3 East in Hamilton County, Indiana,
more particularly described as follows:
Commencing at the Northeast corner of said Southwest Quarter Section; thence along the East line thereof
South 00 degrees 10 minutes 07 seconds East (assumed bearing) 439.67 feet; thence parallel with the North
line of said Quarter Section South 88 degrees 42 minutes 47 seconds West 45.39 feet to a point on the
Westerly right of way line of Pennsylvania Street, the dedication of public right of way of which was
recorded December 9, 1986 in Book 4, on pages 697 thrU 701 in the Office of the Recorder of Hamilton
County, Indiana (the next four courses are along said right of way dedication); (1) thence South 05 degrees
43 minutes 38 seconds East 68.84 feet to a curve having a radius of 788.95 feet, the radius point of which
bears South 84 degrees 16 minutes 22 seconds West; (2) thence Southerly along said curve 76,54 feet to a
point which bears North 89 degrees 49 minutes 53 seconds East from said radius point; (3) thence South 00
degrees 10 minutes 07 seconds East 676.20 feet to the Point of Beginning; (4) thence continuing South 00
degrees 10 minutes 07 seconds East 455.34 feet; thence South 90 degrees 00 minutes 00 seconds West
546.40 feet to a point on the Easterly right of way line of U.S. Highway #31 (Referenced from Line "K" for
I.S.H.C. Project ST-F-222 (9) DTD 1973); thence along said right of way line North 00 degrees 03 minutes
57 seconds West 730.64 feet; thence North 89 degrees 49 minutes 53 seconds East 350.64 feet; thence South
00 degrees 10 minutes 07 seconds East 276.91 feet; thence North 89 degrees 49 minutes 53 seconds East
194.45 feet to the point of beginning, containing 7.928 acres, more or less.
Subject to all legal easements and rights-of-way
Land Description - Parcel II I
Part of the Southwest Quarter of Section 26, Township 18 North, Range 3 East in Hamilton County, Indiana,
more particularly described as follows:
Commencing at the Northeast corner of said Southwest Quarter Section; thence along the East line thereof
South 00 degrees 10 minutes 07 seconds East (assumed bearing) 439.67 feet; thence parallel with the North
line of said Quarter Section South 88 degrees 42 minutes 47 seconds West 45.39 feet to a point on the
Westerly right of way line of Pennsylvania Street, the dedication of public right of way of which was
recorded December 9, 1986 in Book 4, on pages 697 thru 701 in the Office of the Recorder of Hamilton
County, Indiana, which said point is the point of beginning (the next three courses are along said right of way
dedication); (1) thence South 05 degrees 43 minutes 38 seconds East 68.84 feet to a curve having a radius of
788.95 feet, the radius point of which bears South 84 degrees 16 minutes 22 seconds West; (2) thence
Southerly along said curve 76:54 feet to a point which bears North 89 degrees 49 minutes 53 seconds East
from said radius point; (3) thence South 00 degrees 10 minutes 07 seconds East 676.20 feet; thence South 89
degrees 49 minutes 53 seconds West 194.45 feet; thence North 00 degrees 10 minutes 07 seconds West
276.91 feet; thence South 89 degrees 49 minutes 53 seconds West 350.64 feet to a point on the Easterly right
of way line of U.S. Highway #31 (Referenced from Line "K" for I.S.H.C. Project ST-F-222 (9) DTD 1973);
thence along said right of way line North 00 degrees 03 minutes 57 seconds West 234.08 feet to a curve
having a radius of 2146.83 feet, the radius point of which bears North 89 degrees 56 minutes 03 seconds
East; thence Northerly along said right of way line and said curve 301.18 feet to a point which bears North
82 degrees 01 minutes 41 seconds West from said radius point; thence parallel with the North line of said
Quarter Section North 88 degrees 42 minutes 47 seconds East 512.76 feet to the point of beginning,
containing 7.915 acres, more or less..
Subject to all legal easements and rights-of-way
EXHIBIT B
PUBLIC NOTICE OF ADOPTION OF RESOLUTION CC-08-18-08-01
Notice is hereby given that the Common Council of the City of Carmel, Indiana did on August 4, 2008 adopt
Resolution CC-08-04-08-01 approving a ten-year personal property and real property tax abatement for The
Capital Group Companies, Inc. for its investment in the installation of new qualifying information
technology/telecommunications equipment and computer hardware plus a partial abatement of real property
taxes attributable to improvements made to real estate. This Resolution, which affects the following described
property located in the City of Carmel, Indiana: NE Corner of Carmel Drive/1261h Street and North Meridian
Street, Clay Township, Hamilton County as described in Exhibit A of Resolution CC-08-04-08-01 ("the
Property") was adopted following the filing of information by The Capital Group Companies, Inc. as an
Economic Revitalization Area for the purpose of securing a ten-year personal property and real property tax
abatement pursuant to Indiana Code Section 6-1.1-12.1-4.
On the 18th of August 2008 at 6 p.m. in the Council Chamber Room, located at One Civic Square, Carmel,
Indiana, 46032, the Common Council will receive all remonstrance's and objections from interested persons
regarding these proceedings. A description of the property and a copy of Resolution CC-08-04-08-01 are
available for inspection in the Hamilton County Assessor's Office, Suite 214, 33 North 9m Street, Noblesville,
Indiana 46060.
For additional information on the project, contact Larry Gigerich, Managing Director, Ginovus 317-819-0890.
STATEMENT OF BENEFITS
d `- PERSONAL PROPERTY
Suto Form 51761 (R 11-06)
Prescribed by the Department of Local Government Finance
FORM SB-1 / PP
PRPIACY NOTICE
T1a msi aril am sPeclSc Y,a+iauMs
salary Infomation fs rmfdentlN; tM
balance of ate 15rq a pubrw record
IC 61.1-12.td.1 card tl
INSTRUCTIONS:
1. This statement most be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body requires
information from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise this statement must be submitted
to the designating body BEFORE a person installs the new manufacturing equipment andbr research and development equipment, andror logistical distribution
equipment and/or information technology equipment for which the person 'wiahas to claim a deduction. 'Projects' planned or committed to after July 1, 1987,
and areas designated after July 1, 1987, require a STATEMENT OF BENEFITS. (IC 6-1.1-12.1)
2. Approval of the designating body (City Council, Town Board, County Council,. etc.) must be obtained prior to installation of the new manufacturing equipment
and/or research and development equipment and/or logistical distribution equipment and/or information technology equipment, BEFORE a deduction may
be approved
3. To obtain a deduction, a person must rile a certified. deduction schedule with the persona Personal Property return on a cartired deduction schedule (Forth
103-ERA) with the township assessor of the township where the property is situated. The 103-ERA musfbe riled between March 1 and May 15 of the
assessment year in which new manufacturing equipment and/or research and development equipment and/or logistical distribution equipment and/or
information technology equipment is installed and fully functional,. unless a filing extension has been obtained. A person who obtains a filing extension must
rile the form between. March 1 and the extended due date. of that year.
4. Property owners whose Statement of Benefitswas approved after June 30, 1991, must submit Form CF-1 / PP annually to show compliance with the
Statement of Benefits. (IC 6-1.1-12.1-5.6)
5. The schedules established under IC 6-1.1-12.1-4.5(d) and (e) apply to equipment installed after March 1, 2001. For equipment.insrelled prior to March Z
2001 the schedules and statutes in effect at the time shall continue to apply. (IC 6-1.1-12.1-4.5(Q and (g))
e•
s
Name of taxpayer
The Capital Group Companies, Inc.
Address of taxpayer (nrumber and stnret, ee)( stem, and 4'P Cade)
6455 Irvine Center Drive, Irvine, California 92618
Telephone number
Nana of coned! person
Bryan Lewis, Sr. Vice President (949) 975-5279
Resolution number (a)
Name of designatlng Eddy
Common Council of the City of Carmel WDS-ot O 0 -o l
County DLGF
DLGF fazing district number
er
L oOshon of property
NE Comer of Carmel Drive/126th Street and North Meridian Street Hamilton 29-023 Hamilton
Description of manufacturing equipment and/or research and development equlpment ESTIMATED
and/or b91slical distribution equipment and/or information technology equipment. START DATE COMPLETION DATE
(use additional shoals it necessary)
Manufacturing Equipment
The Capital Group Companies, Inc. will invest
roximately $3.5 million in information technology and R d D Equipment
a
pp
telecommunication equipment to support the construction of Logist Dist Equipment
two new regional operations buildings in Carmel, Indiana.
IT Equipment 01101/2009 12/3112013
a s s , .. s.a s We
s
Number edtlabral Salaries
Current number Salaries Number retained Salaries
00
0 0
4
1,805,000.00
929 41,805,000.00 929 .
. . . . . "s•e s ••s
e
MANUFACTURING R b D EQUIPMENT LOGIST DIST IT EQUIPMENT
EQUIPMENT
NOTE: Pursuant to IC 61.1-12.1-5.1 (d) (2) the EQUIPMENT A!
COST of the property Is confidential.. COST ASSESSED COST SEE QED COST a
ED COST
WLUE
Current values
3,500,000.00
Plus estimated values of proposed project
Less values of any property being replaced
Net estimated values upon completion of project 3,500,000.00
s • s s e • a s
Estimated hazardous waste converted (pounds)
Estimated sdd waste converted (pounds)
Other beneflta:
. e
a
I hereby codify t hat the representations In this statement are true.
- Title Date signed (month. day veer)
orrsed talixe
Sr. Vice President 07/15/2008
We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the general standards
adopted in the resolution previously approved by this body. Said resolution, passed under IC 6.1.1-12.1.2.5, provides for the following limitations as
authorized under IC 6-1.1.12.1.2.
A . The designated area has been limited to a period of 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:
? Ye s
? N o
1. Installation of new manufacturing equipment;
? Yo s
t
i ? N o
pmen
;
2. Installation of new research and development equ
? Ye s ? N o
3. Installation of new logistical distribution equipment.
nC ? Ye s
i
l ? N o
pma
ogy equ
4. Installation of new Information techno
C. The amount of deduction applicable to new manufacturing equipment is limited to $ cost with an assessed value of
S
D. Theamount of deduction applicable to new research and development equip ment Is limited to S cost
with an assessed value of S
E . The amount of deduction applicable to new logistical distribution equipment is limited to $ cost with an assessed value of
F. The amount of deduction applicable to new information technology equipment is limited to S cost with an assessed value of
a Other limitations or conditions (speciry)
H. The deduction for new manufacturing equipment and/or new research and development equipment and/or new logistical distribution equipment and/or
new Information technology equipment Installed and first claimed eligible for deduction on or after July 1, 2000, is allowed foc
? 1 year ?6 years " For ERA's established prior to July 1, 2000, only a
p 2 years ?7 years 5 or 10 year schedule may be deducted.
?3years ?8years
?4 years ?9years
"
?5 years" ?10 years
Also we have reviewed the Information contained In the statement of benefits and find that the estimates and expectations are reasonable and have
determined that the totality of benefits is sufficient to justify the deduction described above.
Telephone number Dale sigrI (mo,rh, day, year)
by.
If the designating body limits the time period dun hich an area Is an economic revitalization area, It does rot limit the length of time a taxpayer is
entitled to receive a de uctionto a number of yea Ignated under IC 6-1.1-12.1-4.5
STATEMENT OF BENEFITS
REAL ESTATE IMPROVEMENTS
stab Form 51767 (8211-07)
Prescribed by the Department of Local Government Finance
This statement is being completed for real property that qualifies under the following Indiana Code (check one box):
Q Redevelopment or rehabilitation of real estate improvements (IC 6.1.1-12.14)
? Eligible vacant building (IC 6.1.1.12.1.4.8)
20 PAY 20_
FORM SEW I Real Property
INSTRUCTIONS:
1. This statement must be submitted to the body designating the, Economic Revitalization Area prior to the public hearing if the designating body requires
information loom the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise this statement must be
submitted to the designating body BEFORE the redevelopment or rehabilitation of real property, for which the person wishes to claim a deduction.
'Projects' planned or committed to after July 1, 1987, and areas designated after July 1, 1987, require a STATEMENT OF BENEFITS. (IC 6-1.1-12.1)
2. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to initiation of the redevolopment or rehabiltaton.
BEFORE a deduction may be approved.
3. To obtain a deduction, application Form 322 ERArRE or Form 322 ERANBD, Whichever is applicable, must be filed with the County Audilc r by the later
of. . (1) May 10; or (2) thirty (30) days after the notice of addition to assessed valuation or new assessment is malled to the property owner at the address
shown on the records of the township assessor.
4. Property owners whoso Statement of Benefits was approved after June 30, 1991, must attach a Form CF-1/Real Property annually to the application to
show compliance with the Statement of Benefits. (fC 6-1.1-12.1-5. 1(b) and IC 6-1.1.12.1-5.30))
5. The schedules established under IC 6-1.1.12.1-4(d) for rehabilitated property end under IC 61.1-12.1-4.8(1) for vacant buildings apply. to any statement
of benefits approved od or after July 1, 2000. The schedules effective prior to July 1, 2000, shall continue to apply to a statement of benefits filed before
1"> s Inn
T4 PA ONffRf?I?TIW
Name of taxpayer
The Capital Group Companies, Inc.
Address of taxpayer (number and streel, rAy stab, and ZIP,bde)
6455 Irvine Center Drive, Irvine, California 92618
Nome of Contact person Ylephone number E-mall address
Bryan Lewis, Sr. Vice President (949) 975-5279 BRL(@G8Darouo.com
Name of designating body Resolution number
Common Council of the City of Cannel 8=0ii-D I D -18-08-01
Location of property County DLGF taxing district number
NE Comer of Carmel Drive/126th Street and North Meridian Street Hamilton 29-023 Ham
Description of real property Improvements, reaavelopmenl, or rehabilitation (ace additional sheets k nerossary) Estimated titan date (month, day year)
The Capital Group Companies Inc. will construct a new 175,000 square foot regional 08/19/2008
a
y.1'er)
erations center building and an additional new 30,000 square foot building,(total Estmatedmn'plea°'dam(nbnlh.
o
p
investment of aonroximateiv $49.000.000 in real estate imnrovementsl in Carmel. IN. O 12/3112013
ml&*I;tol I
l
UQUINO isa
Current number salaries Number releinod Salaries Number additional Salaries
-
l
929.00 $41,805,000:00 929.00 $41,805,000.00 0.00 $0.00
ERWIM s • . c • -••• s •-:
NOTE: Pursuant to IC 61.1-12.1.5.1 (d) (2) the. COST of the property , REAL ESTATE IMPROVEMENTS
Is confidential. COST ASSESSED VALUE
Current values
Plus estimated values of proposed project 49,000.000.00
Less values of any property being replaced
Net estimated values upon completion of project 49,000.000.00
• e e• • e s:
Estimated solid waste converted (pounds) Estimated hazardous waste converted (pounds)
Other benents
e
I hereby certify that the representations In this statement are true.
signature of au d re tame role Date signed (month, day yead
Sr. Vice President 07/15/2008
V rage i of 2
.• :..
We have reviewed our prior actions relating to the designation of this Economic Revitaltzation Area and find that the applicant meets the general standards
adopted in the resolution previously approved by this body. Said resolution, passed under IC 61.1-12.1, provides for the following limitations:
A. The designated area has been limited to a period of time not to exceedcalendar years' (see. below). The date this designation
expires Is
S. The type of deduction that is allowed In the designated area is limited to:
1. Redevelopment or rehabilitation of real estate improvements ? Yes ? No
2. Residentially distressed areas ? Yes ? No
3. Occupancy of a vacant building ? Yes ? No
C. The amount of the deduction applicable is limited to $
D. Other limitations or conditions (specify)
E. The deduction is allowed for years' (see below).
We have also reviewed the Information contained in the statement of benefits and And that the estimates and expectations are reasonable and have
determined that the totality of benefits Is sufficient to justify the deduction described above.
Approved
(sJgnaa?rum and tab dzed designedrg body) lphone nber nth, day, yead
um
-34
1
E
Attested bgnature a is a Dee nafed body
'f'm'M ure` 1
• X the designalingbotly limits the time period during an area is an economic revitallzaUon area, X does not limit the length of Ume a taxpayer is
entitled b receive a deduction.to a number of years sig sled under IC 61.12.12.1.0.
A. For residentially distressed areas, the deduction od may not exceed five (5) years.
B. For redevelopment and rehabilitation or real estate improvements:
If the Economic Revitalization Area was designated prior to July 1, 2000, the deduction period is limited to three (3), six (6), or ten (10) years.
1
.
2. If the Economic Revitalization Area was designated alter June 20, 2000, the deduction period may not exceed ten (10) years.
C. For vacant buildings, the deduction period may. hot exceed two (2) years.
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