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HomeMy WebLinkAboutCC-11-16-09-01 Dealer Services Corp/Tax Abatement r Sponsors Councilors Sharp, Carter, and Snyder RESOLUTION CC- 11- 16 -09 -01 A RESOLUTION "RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA, APPROVING A TEN -YEAR (10) PERSONAL PROPERTY TAX ABATEMENT FOR DEALER SERVICES CORPORATION LOCATED AT 1320 CITY CENTER DRIVE, SUITE 100, CARMEL, INDIANA 46032 WHEREAS IC 6 1 1 12 1-4 authorizes partial abatement of personal property taxes attributable to the installation of new quail(*) ing information technolog)/telecommumcations equipment, computer hardware and computer software and WHEREAS 1 C 6 1 1 12 1-4 empowers the Common Council of the City of Carmel Indiana (the Council to grant appros al for personal property tax abatement for new qualifying information technology /telecommunications equipment computer hardware and computer software, and WHEREAS information (as defined in 1 C 6 1 1 -12 1 -1) has been provided to and heretofore been filed with the Council by Dealer Services Corporation the Company') and such information describes the investment in new qualif) ing information technology/ telecommunications equipment computer hardware, and computer software at 1320 City Center Dnve, Suite 100 Carmel Indiana, and WHEREAS, the site located at 1320 City Center Drive, Suite 100 Site') has been legal!) descnbed and designated as an Economic Revitalization Area (ERA) for purposes of providing personal propert) tax abatement to the Company (as defined in I C 6 -1 1 12 1 -4) and WHEREAS the Company will lease space for its new coiporate headquarters facillt) provided that the Company is able to obtain personal property tax deductions as authonzed by i C 6 -1 1 -12 1 4, and WHEREAS the Compam seeks to have the Council authonze personal property tax deductions in connection with the qualifying investment made in new qualifying information technology /telecommunications equipment computer hardware, and computer software and WHEREAS, the Council has reviewed such information 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 information provided and Statement of Benefits (Form SB 1) heretofore filed by the Company the Council hereby makes the tollowmg findings FINDING 1 The Site is or has become undesirable for normal development due to the following economic conditions (a) The Site and building are Toned for and generally suitable for use as an office development, however there is lack of demand for office space in the geographic area where the Site is located due to the economic conditions currently present (the Corridor' (b) Vacancy rates for office space in the Comdor and an abundance of sublease opportunities evidence an oversupply of office space in the Comdor (c) The Company s proposed redevelopment of a portion of the site as a corporate headquarters facility for the Company is consistent Sponsors Councilors Sharp Carter, and Snyder with the site s existing comng and represents a supenor use for a portion of the building (d) I he Company s plans to install new personal property will result in an addition to the Corndor's overall assessed value within an accelerated time penod FINDING 2 The proposed rede%elopment of the Site by the Company meets the parameters set forth in Council Resolution No CC 02 0) -01 -02 FINDING 3 The estimate of the cost and assessed value of the Company s proposed re development of the Site is reasonable for projects of a similar nature FINDING 4 The estimate of the number of individuals who will be employed (t e approximately 55 new F 1 Es over the initial five ear period along with 83 existing F I Es) can be reasonably expected to result from the Company s proposed re development of the Site FINDING 5 The estimate of approximately $7,564,336 of annual salaries (for the 138 new and existing 1' Its) for those individuals who will be employed b) the Company can be reasonably expected to result from the Company s proposed re- development of the Site FINDING 6 The estimate of the cost and assessed value of the new information technology /telecommunications equipment computer hardware and computer software is reasonable for investment of that type FINDING 7 With respect to the new information technology /telecommunications equipment computer hardware, and computer software the estimate of 138 N res who will be employed can be reasonably expected to result from the installation of the new personal property FINDING 8 I he estimate of approximately $7 564 336 annual salanes (for the 138 new and existing ETEs) for those individuals who will be employed can be reasonably expected to result fiom the redevelopment of the Site and installation of the new personal property FINDING 9 The Company will be active corporate citizens involved in and committed to the City of Carmel FINDING 10 The Company s expanded corporate headquarters facility in Carmel is consistent •ith the goals and vision established by the City of Carmel and the Hamilton County Alliance FINDING 11 Other benefits can be reasonably expected to result from the Company's proposed re- development of the Site and installation of personal property FINDING 12 The totality of benefits is sufficient to justify personal property tax deductions herein desci ibed Sponsors Councilors Sharp Carter, and Snider NOW, 1 HEREFORE, 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 ot the new qualifying information technology /telecommunications equipment computes hardware and computer software 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 computer hardware and computer softwaie pursuant to I C 6 1 1 -12 1 4 shall be ten (10) BE IT FURTHER RESOLVED THAT the Council shall have the nght to reduce the length of and/or end the personal property tax abatement granted for the Site should the Company and/or a subsequent owner ot 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 FUR ['HER RESOLVED THAT, in the event the Company is sold to a new owner the new owner of the Company shall appear before the Council within 90 days of closing on the purchase of the Company to present information regarding the plans tor the Company's operations in the City of Carmel BE IT FURTHER RESOLVED THAT the deductions authorized herein are contingent upon the approval of a ten -year personal property tax abatement prior to the installation of new qualifying information technology /telecommunications equipment computer hardware and computer software BE IT FURTHER RESOLVED THAT, if the Site is located in an allocation area (as defined in I C 36 -7 -14 39 or 1 C 36 -7 -15 1 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 IC 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 hetein as Exhibit B PASSED by the Common Council of the City of Carmel Indiana this )(a of t itim -beh 2009 by a vote of 7 and 0 nays Sponsors Councilors Sharp, Carter and Snyder COMMON COUNCIL OF THE CITY OF CARMEL g iaa r' _.ii i M i r esrding OI T'icer os 4 4 oar L W Eric Sei. +;sticker 'rest empore Kevin Ride 1 V Accctrirro Richard L S arp i r r�e onald E Carter et, vder ATTEST Diana L Cordray Clerk Tr di Presented by me to the Mayor of the City of Carmel, Indiana the I(oay of IN 9i1•trt+t„Q► dS 2009 at 8 30 P m Diana L Cordray, Clerk Trs rer Approved by me the May or of the City of Carmel 1. rana this t (s+ of �0{} ek 2009, at 30 P m Tay Brainard Mayor ATTEST Diana L Cordray Clerk -Treas Prepared by Chad Sweeney Direct f Corporate Development Gmovus 8888 Keystone Crossing Suite 14,0 Indianapolis Indiana 46240 317/819 4413 (telephone) 317/844 4780 (facsimile) Chad ®ginovus com (e mail) Sponsors Councilors Sharp, Carter, and Snyder EXHIBIT A A Ll \D BOU \D %Rl DESCRIPTION OF BIM DING AI 1320 Cm CE\ rrR DRII I SUI I L 100 H NII L ION COU\ 1 1, I \DI l\ DATE PAGE 1 OF 1 LAND DESCRIPTION Part of the Northeast Quarter of Section 35 Township 18 North Range 3 East of the Second Pnncipal Meridian in Hamilton County Indiana, being more particularly descnbed as follows Commencing at a railroad spike marking the Southwest Corner of the said Northeast Quartei Section thence North 00 degrees 07 minutes 31 seconds West (assumed bearing) along the West line of the said Quarter Section a distance of 510 08 feet to a P K nail thence continuing along said line North 00 degrees 07 minutes 31 seconds West 62 )8 feet thence North 89 degrees 52 minutes 29 seconds East 28 99 feet to the eastern right of way Tine of Pennsylvania Street recorded as instrument #200300029019 in the Office of the Recorder of l lamilton County Indiana said point being the POINT OF BEGINNING of this description, thence North 00 degrees 07 minutes 30 seconds West 475 63 feet along said eastern nght of way line of Pennsylvania Street thence North 89 degrees 52 minutes 28 seconds East 59 55 feet to a point of tune concave southerly having a radius o1236 62 teet, the radius point of said curve bears South 00 degrees 07 minutes 32 seconds East thence easterly along said curve 77 24 feet to a point which bears North 18 degrees 34 minutes 36 seconds East from said radius point, said point being the point of reverse curve of a curve concave northerly having a radius of 328 19 feet, the radius point of said curve bears North 18 degrees 34 minutes 38 seconds East, thence easterly along said curve 109 83 feet to a point which bears South 00 degrees 35 minutes 50 seconds East from said radius point, thence South 00 degrees 07 minutes 31 seconds Cast 46 00 feet to the point of curve of a non tangent curve concave northerly having a radius of 374 20 feet the radius point of said curve bears North 00 degrees 32 minutes 21 seconds West thence easterly along said curve 150 71 feet to a point which bears South 23 degrees 36 minutes 53 seconds East from said radius point, said point being the point of reverse curve concave southerly having a radius of 520 30 feet, the radius point of said curve bears South 23 degrees 36 minutes 53 seconds East, thence eastei ly along said curve 252 26 feet to a point which bears North 04 degrees 09 minutes 52 seconds East fiom said radius point thence North 00 degrees 18 minutes 41 seconds West 156 45 feet thence North 89 degrees 41 minutes 19 seconds East 217 35 feet, thence South 00 degrees 18 minutes 41 seconds East 192 63 feet to the point of curve of a non tangent curve concave easterly having a radius of 819 43 feet, the radius point of said curve bears North 88 degrees 55 minutes 28 seconds East thence southerly along said curve 235 06 feet to a point which bears South 72 degrees 29 minutes 19 seconds West from said radius point said point being the point of non tangent curve concave westerly having a radius of 580 64 feet, the radius point bears South 72 degrees 29 minutes 30 seconds West, thence southerly along said curve 174 50 feet to a point which bears North 89 degrees 42 minutes 40 seconds East from said radius point, thence South 00 degrees 13 minutes 17 seconds East 47 10 feet thence South 88 degrees 49 minutes 16 seconds West 886 36 feet, thence North 44 degrees 34 minutes 41 seconds West 41 29 teet thence South 89 degrees 52 minutes 29 seconds West 2 37 feet to the POINT Oi' BEGINNING containing 10 501 acres more or less s Sponsors Councilors Sharp Carter, and Snyder EXHIBIT B NOTICE OF ADOPTION REGARDING THE APPROVAL OF A TEN -YEAR PERSONAL PROPERTY TAX ABATEMENT FOR DEALER SERVICES CORPORATION'S CORPORATE HEADQUAR I'ERS LOCATED AT 1320 CiTY CENTER DRIVE, SUITE 100 DATE PAGE 1 OF 1 PUBLIC NOTICE OF ADOPTION OF RESOLUTION CC- 11- 16 -09 -01 Notice is hereby given that the Common Council of the City of Carmel Indiana did on November 2, 2009 adopt Resolution CC-I1-02 09 01 to designate an Economic Revitalization Aiea `ERA for Dealer Services Corporation to support the installation of new information technology equipment telecommunications equipment laboratory equipment research development equipment computer hardware and computer software This Resolution, which affects the following descnbed property located in the City of Carmel Indiana 1320 City Center Dnve Suite 100 Ilamilton Count\ as described in Exhibit A of Resolution CC -11 02 09 -01 the Property' was adopted following the filing of information by Dealer Services Corporation as an Economic Revitalization Area for the purpose of secunng a ten -year personal property tax abatement pursuant to Indiana Code Section 6 1 1 -12 1-4 On the 16th of November 2009 at 6 p m in the Council Chamber Room located at One Cn is Square, Carmel Indiana, 46032 the Common Council will receive all remonstrances and objections from interested persons regarding these proceedings A description of the property and a copy of Resolution CC -11 02 -09 01 are available for inspection in the Hamilton County Assessor's Office, Suite 214, 33 North 9 Street Noblesville, Indiana 46060 Hor additional information on the project contact Larry Gigeiich, Managing Director Ginovus 317 -819 -0890 STATEMENT OF BENEFITS FORM SB 1 1 PP 1 EIA, 7E1 PERSONAL PROPERTY Stele Form 51784 (R 11 06) PRIVACY NOTICE Prescnbod by the Department of Local Government Finance The east end eny Ipmee YlraMMael s salary I normibcn a mlrfidenbal the balance of the ring is public record per IC 8 1 1 t21 51 (c) and (d) INSTRUC77ONS 1 This statement must be submitted fit the body designating the Economic Revitalization Area pnor to the public hearing if the designating body requires information from the applicant m makmg its decision about whether lo designe1e en Economic Revitalizati n Area O1ltenyise this statement must be submitted to the designating body BEFORE a person dishes the new manwadunng equipment and/or research end development equipment and/or logistical distribution equipment and/or information technology equipment for the person wishes to claim a deduction Projects planned or committed to after July 1 1987 and areas designated efter Jury 1 1987 require a STATEMENT OF BENEFITS (IC 6`1 1 12 1) 2 Approval of the designating body (Coy Council Town Board County Council etc) must ba obtained poor to sistallehon of the new manufectunng equipment and /or research and development equipment and/or logistical distribution equipment end/ormformet:on technology equipment BEFORE a deduction mey be approved 3 To obtain a deduction a person must Re a certified deduction schedule with the person s personal property return one coached deduction schedule (Faun 103 ERA) with the township assessor of the township where the property is sduafed The 103 ERA must be flied between March 1 end May 15 of the assessment year in which new manufectunng equipment endlor research and development equipment and/or logistical distribution equipment and/or information technology equipment is installed and fully fbnctonal unless a fling extension has been obtained A person who obtains a Ming extension must file 8De farm between March 1 and the extended due data of that year 4 Property owners whose Statement of Benefits was approved after June 30 1901 must submit Form CF 1 PP annually to show compliance with the Statement of Benefits (10 5 The schedules established under IC 6 1 1 12 1 4 5(d) and (e) apply lo equipment installed after March 1 2001 For equipment installed pnor fit March 2 2001 the schedules and statutes in effect at the time shall continue to apply (IC 5 1 1 12 1 4 5(q and (g)) StCI'IO;t N' __TAXI'AYERJNI`ORidATION Name o1 taxpayer Dealer Services Co •oration Address al taxpayer (number end abut Say slate and ZIP cock) 1320 Cit Center Dnve Suite 100 Carmel IN 46032 Name et contact person Alephcne number Martin J McFarland (317) 571 3725 IO Sf4TIOhJ, ;tOCATfON.A DESCRIRIhON.Oh RRO ►USED RROJEC.f Name of designwbng body Resolution number (s) Cermet Cit Council CC Linehan of propedy Courtly DLGF Wing sabot number 1320 Ci Center Dnve Suite 100 Carmel IN 46032 Hamilton 17 Cla Township Oesanphon of manufectunng equipment and /or research end development equipment ESTIMATED ardlar logistical distribution equipment andlo information technology equipment STMT DATE COMPLETION DATE (use additional sheers dnecessary) Dealer Services Corporation plans capital investment of Manufaeturmg Equipment 275 milion in Information Technology equipment for R d D Equipment the expansion of Its corporate headquarters to better Loglst Dist Equipment serve the company s clients throughout North Amenca IT Equipment 12101(2009 12/31/2014 E r s nL uL r o /SEC hONsi FSTIMAI FOF E61RLC7YEE�AND'.ALARIESA STRt5UET OF RRt1RO5ED2ROJrCT; Cunard number Salaries Number retained Solarise Number additional Salaries 83 4 877 080 00 83 4 877 080 00 55 2 687 256 00 .tiECTIDMQ7 fSTIt.7AT E ED TOTACCOSf 01- AND VALUE D RROROS_ ED �RO7CCT NOTE Pursuant to IC 6 1 1 121 51 (d) (2) the R d D EQUIPMENT LLO DT IS -MENT IT EQUIPNEN>• COST of the property is confidential COST ASSESSED COST AM COST A SJD COST ASSESSEED Current values Plus estimated values of proposed •)ect 327S 00068 Less values of a properly being replaced Net estimated values u on completion of project ti Er TION 5 wASTF'CONL FRTFD AND'OTHFRISENEFIT LROMISEUSY,.THE' AYER Estimated solid waste converted ds) 0 00 Estimated hazardous waste converted (pounds) 0 00 Other benefits SrCTION;ip 1AXPAYER. CERTIFICATION; I hereby certify that the representations in this statement are true Tltie Date signed (maim day year) c_ Fa i ts a t d4 FORuJEE OFTH DESIGNATING`, iOD,Yr We have reviewed our prior actions relating to the designation of this economic revitalization area and find Ihel the applicant meets One general standards adopted in the resolution previously approved by this body Said resolution passed under IC 6 1 1 121 2 5 provides for the following limitations as authorized under IC 6 1 1 121 2 A The designated e`rea has been limited to a penod of time not to exceed, calendar years (see below) The date this designation expires is 8 The type of deduction that is allowed in the designated area is limited to 1 Installation of new manufactunng equipri sit Yes END 2 installation of new research and development equipment Yes N o 3 Installation of new logistical distnbullon equipment Ye s N o 4 Installation al new information technology equipment Yes O N o C The amount of deduction applicable to new manufactunng equipment Is limited to S cost with an assessed value of C The amount at deduction applicable to new research and development equipment 15 limited to cost with an assessed value of E The amount of deduction applicable to new logistical distribution equipment is limited to cost with en assessed value of F The amount of deduction applicable to new information technology equipment is limited to cost with an assessed value of G Other limitations or conditions (specify) H The deduction for new manufactunng 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 a after July 1 2800 is allowed for O 1 year CI years For ERAs established pnor to July 1 2000 only a ❑2 years 7 yearn 5 or 10 year schedule may be deducted O 3 Years 06 years 04 years ❑a years 5years ❑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 suthoent to Justify the deduction described above Approved Wee sed misplace le Date s d (main day year) Mu /7 „_n .317/57 —ay,c, I if Atiotetl rm Cfrel l� ©u h If the designating body lines the ti peed dunng which en area is an economic revitalization area it does not Irma the length of time a taxpayer is entitled to receive a deduction to a n tier years designated under IC 6 1 1 12 1-4 5 a its >0 0 ^1 OJ 7 00QQ G CITY ti reARMEL j1Ml"S RRAr\Am) MAYOR duly 2009 Mr Many McFarland CFO Dealer Services Corporation 1320 City Center Drive Suits l00 Carmel DI46032 Dear Mr McFarland The City of Carmel is most pleased tothave the oppornmrty to work with Gmovas m support of Dealer Services Corporatwa s proposed expansion project in our commumty We have enjoyed working with your company and Gmovus to identify dm most meaningful ways we can assist with your proposed project 3 have enjoyed following Dealer Services Corporation s successes since the company located its corporate headquarters in Carmel four years ago It is our rmdersmndmg that Dealer Services Corporation IS contemplating a capital mveslment of approximately $3 5 million, the retenuon of 83 existing positions the creation of approximately 30 new jobs and an" average lanai salary level of appronmately $55 000 00 m the City of Carmel by December 31 2013 In support of the *posed expanson of your company s corporate headquarters facilities in our carmnumty the City of Carmel Malan thetfollowmg commitments in support of the project 1 The Crty of Carmel will provide a ten year personal property tax abatement m "'ippon of the company s investment in new information technology and telecommunications equipment in the company s existing leasedbuildmg and 2 The Caty of Carrel well provide support for and participate in the development of a press release regarding Dealer Services Corporation a proposed expansion project, if a decision u made to expand the company s presence mar community Please note that final approvaltfbr property tax abatement is required from the Carmel City Council for the proposed expansion project The City of Carmel will provide you and Gmovus with all necessary technical assistance throughout the property tax abatement approval process The City of Carmel greatly appreciates the oppommty to work with Dealer Services Corporation and Gmovus on another project. We are very pleased that your company IS considemg another project m the City of Carmel. Thank you for your coparderatpn V truly yours, Wt. r2-•___20 B rainard cc Membertof the Carmel Cuy Couml Diana Cordray Clerk Treasurer Larry Gigeneh, Managing Director, Gmovus 011 C it n 545t1Aat C umu IN 46032 OH It 1 ;l7 571 2 i01 FA 'I 31 941 349b F is %a 1hrainarc1tit tr ic1 in got