Resolutions_2000-4n
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RESOLUTION NO. Z° J �—
COUNTY COUNCIL OF GIBSON COUn'Tl', INDIANA
RESOLUTION FOR THE APPROVAL OF REAL
AND PERSONAL PROPERTY TAX DEDUCTIONS
1 Ci�`�
WHEREAS, the Gibson County Council (the "Council") pursuant to its Resolution I�io.
1996-2 (the "Resolution") has designated the azea described in Exhibit A(the "Area") to be an
"economic revitalization area" pursuant to I.C. 6-1.1-12.1 and ganted real and personal property tax
abatement in the Area for a period of ten (10) years;
VJHEREAS, Toyota Motor Manufacturing, Indiana, Inc. ("TMMI"), and/or an affiliate
Ihereof and/or another entity (collectively, the "ApplicanY') plan to construct, as described in an
Application and a related Statement of Benefits submitted by the Applicant to the Council
(collectively, the "Application"), an expansion of its automotive manufacturing facility which is
located in the Area (the expansion is referred to herein as the "Project");
WHEREAS, the Project will consist of: (i) the construction of ne�v structures and other
related real estate improvements in the Area (the "RedevelopmenY') and (ii) the installation in the
Area of tangible personal property to be acquired by the Applicant, as its owner, for use in the direct
production, manufacture, fabrication, assembly, processing, refining or finishing of other tangible
personal property, which tangible personal property has never before been used by its owner for any
purpose in Indiana (the "EquipmenP');
WHEREAS, the improvement of the Area described in the Application will be of public
utilitv and will be to the benefit and welfare of all citizens and taxpayers of the County; and
V1'HEREAS, the Applicant has requested that the Council approve real and personal property
tax abatement related to the Project for a period of ten (10) yeazs;
WHEREAS, the Council has reviewed the Application and, on the date hereof, the Council
heard and considered evidence conceming the Application and any public comment with respect to
the Application; and
WHEREAS, pursuant to I.C. 6-1.1-12.1-3 and I.C. 6-1-121-4.5, the Common Council
desires to approve the Application;
NOW, THEREFORE; BE IT RESOLVED, that, based on the information in the Application
describing the Project and the Council's consideration of evidence and any comments heard and
received on the date hereof, the Council makes the following findings:
/ (1) The estimate of the value of ihe Redevelopment is reasonable for projects of that
nature;
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(2) The estimate of the number of individuals who will be employed can be reasonably
expected to result from the proposed Redevelopment;
(3) The estimate of the annual salaries of those individuals who will be employed can
be reasonably expected to result from the proposed Redevelopment;
(4) The other benefits about which information was requested aze benefits that can be
reasonably expected to result from the proposed Redevelopment and
(5) The totaliry of benefits is su�cient to justify the ganting of real property tax
deductions to the Applicant pursuant to I.C. 6-1. ]-12.1-3.
BE IT ALSO RESOLVED, that, based on the information in the Application describing the
Project, the Council makes the following findings:
(1) The estimate of the cost of the Equipment is reasonable for equipment of that type;
(2) The estimate of the number of individuals who will be employed can be reasonably
expected to result from the installation of the Equipment;
(3) The estimate of the annual salaries of those individuals who will be employed can
be reasonably expected to result from the proposed installation of the Equipment;
(4) The other benefits about which information was requested aze benefits that can be
reasonably expected to result from ihe proposed installations of the Equipment; and
(5) The totality of benefits is sufficient to justify the granting of personal property tax
deductions to the Applicant pursuant to LC. 6-1.1-12-4.5.
BE 17' ALSO RESOLVED, that, based on the informaUon in the Application and the
foregoing findings, the Council, pursuant to I.C. 6-1.1-12.1, hereby approves and allows the
ApplicanY s real property tax deductions for ten ( I 0) years for the Redevelopment located in the Area
as part of the Project.
BE IT ALSO RESOLVED, that, based on the information in the Application and the
foregoing findings, the Council, pursuant to I.C. 6-1.1-12.1, hereby approves and allows the
Applicant's personal property tax deductions for ten (10) years for the Equipment installed in the
Area as part of the Project.
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ADOPTED, this 15'" day of February, 2000.
ATTEST:
GCJ
Ken Greubel, Auditor
Gibson County, Indiana
mvso� xzH �ss3as.�i
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3�,��
L� da Hoover, President
County Council of Gibson County, Indiana
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Ex�ibit A
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,�PPLICATIO� FOR APPROVAL OF
REAL A:�'D PERSONAL PROPERTY TA}C DEDUCTIOhS
SLBTII'LTED BY
TOYOTA HOTOR �lAV[,'FACTL�RI?�G,
ItiDL4NA, I1�iC.
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This Application for rlpproval of Real and Personal Prop�: ry Tax Deductions is submitted
to tnc Gibson Count}� Council (the "Counci!') by Toyota Motor Manufactw-ino, Indiana, Lic.,
(°ThS�II"1 and%or an at�lia:e thereof and/er another enrity that will construct an expansion to aa
existing motor vchicle manufacturi�g facility (TNL'�?I, s•aeh affiliates an3 otber entities collzctive!y.
[he "ApplicanP�, pursuant to tue p;o�isions of L\'D. CODE ',� 6-1.1-12.1-1 et �., as amended.
Pursuent to Reso:utions No. i 996-2 and 1996-3 (�he "Resolutions'�, the Coi:rcit des:gnatzd ar. area
idencified in ��e Resolutions and descr.bzd he-ein as che Property to be an"eceno�.ic revitalization
a�e�' pursuant to I.C. 6-1.1-12.1, gzantee real zed personal propem� t3r abat=�s:ent in such arex for
ten (:Oj years, and approved tk�:e �gplicant's rez] anc per:onalpropert}• deduc:ions for ten (10) years
for �be Facility (as herzinaRer d�fmcd). Tne ioLowing infomatior. is p*o��ded in support of this
Applicarion:
4edress of the � 1� �n :canc•
Toyota Motor Manufactuing,lndiana,Iac.
4000 Tulip Tree Drive
P.O. Box 4000
Princeton, Indiana 47670-4000
2. Backgrourd o: Tv1�4I. 'i�MI is a�z Indiana ccnorztion ulrima[ely wholly-owned
b�� Toyota �lotor Corporation, a leading Japanese motor vehicle mar_ufactuer.
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3 The Proiect Ihe Applicant will expand its exis[ing vehicle usembly facility in
Gibson Counry (the "r aciliry") tu incraase the Facility's capaci!y for produc ing motor vehicles under
the namzplates of Toyota Motor Corporation by approximately 150,000 units annuallY. The proi ect
wili consist of the consa'uc[ion of plant buildings ar.d relatzd rea! estate unprovements and t`z
installarion of r.ew manufacturing equipnent in the b�uldings (the "Prejec�"). The Project will
doublet�eFaciliry'sproducdoncapaci:ytoap�roximatc1y300,00C'unit>peryeaz. Certainaffiliates
of T�SVII ma}' ir'•�'est in an�:�r uwn a portion o f thc real e state impro �emen's and new� manu facturing
ea ioment as pan of the P*oject.
�eb�`�
4. Tnz Econo-nic Re�italizzton ''°' and ��tior• of the Proiect. �z prepe •.ry on
�eh;ch the Pcoj ect will be constructed (the "Propeily") is approximztely 12G0 Acrzs oflandbounded
on the wes� b} tiS 41, bounded or the norh by Cei:nty Road 350 South, bounded on the ezst b}�
County Road 100 East as if ex:erded to Count} Ro2c 350 Sou:n, and boundcd oa tl:e soutl�� by az',
81 acre iract of prope. �y kn�'xT� �s Sc���'•er Fams and �a 1Q.1 acre tract of property owned by the
To«�n of For B:anch, and was declued an"economic revitalization azea" pursuant to tbe
Resolutions.
5, Desenntion of the Proiect. The Applicant will expand d1e Facili:}' to producz
2pp�oximately a�1 additiona115G,000 uniu ofmotor ve'nicles under the nameplates ofToyota Vfotor
Corporation. The Project w'ill include the acquisition and installation of additional operatin;
equipr.ie:i, az:d speciai coo!ing for stampin3, welding, pa��'�n8. assembly and plastic molding
iunctions necessary to exp�ld the caparty of �he F2cility to neet the projected inerease in
p;oductio.^. �•of�c.
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The Applicant expects that construc-ion of the Project will commence in lzte 2000 and will
be completed b}• approximately eazly 2003. Initial veh;cle production associated with the Project
is expected to comnence in eazlv 20U3.
6. Benefi?s of the Proiect. "Che benefits o` :he Project aze dcscribed belok• and fur'��er
set forth on the Statement of Benefits attached here�o as Attach:-neni I. I'he Statemcnt of Benefits
attached hereto as Attac4ment ] is based on the best information available at the time of tivs filing.
A. Increased Enplovment. The Agpl:eznt a�ticipa�es tha*. it aill employ
approx;matel}� 2,000 addiriona! p:rsons a; the Project wita average compe:uation of 522.50
per ho�i. 'I'he average compensation inivally will be lower than such ar�ount, but w1ll
gradually ilcsease to 522.50 per how �}' la[e 2005
employment ac che Faciury to approxima�ely 4,300.
The PTO}ect w�ll increase tota!
B. Increased Provertv Tax Base. In conpleting the Projec�, the App1=c�� w'ill
invest at che Princeton site approxi;nztely S90,Q00,000 to SL70,OOQ000 in real estate
improvements and approximately 5�35,OOQ,000 to S�40,000,000 ir. new manufacturing
equipnent. As the reqncstcd property tax abatement is phased out according [o the schedule
p;ovided b}'statute, the usessment associat:d«�ith this in��estment �t�ill be added to �he local
oroperty tax base.
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The figures and dates above az: all esrimat:s based on the best informarion a��ailable at this
time and could vary based on variatiors in pricirg conditions, engineen.ng considaations, and
foreign currency exchange fluctuations.
7, alifica �on as an Economic Re��[alization �*ea. The Propery was dxlazed an
"ecor.omic revitaiizacion azea" pti-suant to the Resolutions. ,
TOYOTA tifOTOR �tq\'[.-F?.CTL�Rt"I�`G,
L��JIA�`A, L�IC.
S=!"LO O1C2[T10Y0, President
f`1DCOt i<](H J'SSOi+I
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'R�STATEMENT OF BENEFITS
� sua Fam, 2na� (Fte / u-sO)
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FORM
SB•1
)NSTRUCiIG\'S:
°. This 5t3reTe �I mu5[ 0? Su�niT?c' to me �ocy des:�nating Ne eco.:ornr revitlizarlo.� area pria to tne puoiic .qeacn� il c7e Cesrnatirg tc;y:rqJCes in r-
�.rn_Urn F,ar. N^ aapIicam in maxirtg iis dccision abou! wCetLe! ro Ges`gnata aa Econcrrtic Revi�a9zaUOn Area. Och�vnsa �his s�a!e,^ent rr�s� 6e 5u0m'e?�;
ro tne CevsCa�ng Deay BEfORE a person tnstalls the newrran•ufacNr�ny o5uipmenG or.BEFORE [ne reCevelopmen: or reneGilkedon �l:ea�prope.^,,i �cr
mni:h !Ge pc+son wishes to daim a �eduCtlan. 'PrLJe[[5' planns? vr ccmn. rCed to aRer luly 7, 13E7 ard ueas des�gnate� al�_r R�ry i. 19d1 reGwre a
SiATEPA:,ViOF4_°N_.'r5 (IC6-'.i-12.1!
Z Approva! o/:ae Cesisnaurg cM� (Gry Coundl 7cvir. Bcerd. County Council, e;:.l ��+�+s[ be a7:air.ed p�or to idEa�[o : of Ne ra7evHopzer =: : eGaMiltzlce.
m pricr ro i.�su:bic^ cf tte revi aiar.u!ac:ulag equ(pr.,ec[ BFFORE a CeCUCiion nay Ce app%ewC.
:. io oh:ti � c oe-'uccor., Fx,^ 321 SRA. Reei Esta:e L.^m, 'cve�er,ts and! o� far., ?22 °_RA �°.'. Plew ��!achir.cty. rrus� �`�eG •r�tt ttea +� .^� yvditcc Y:.':'
,-es�ec� �:c r=�l Roce:i Fo�-n 322 ERA'rniit ce /Jetl Gy me laer �!: (�1 Ma� ;G x(2; �h: .ry pC) aays zlie a nee� a'r._rease i�i real =n assess•-ea�
:5 (?LE�'�d0.'roz [ba te,vr,sni� asses>or. Form 32i °.RA /PP must oe file, ce;ae=r, Kar_n 7 ana ��lay 15 of a:e ?ssess�er.r year ir, �HCn:,; nevr,r,an�!ac�
:uin�r eyu�pm=nt becomes cssessaala. ucless a 67�g e!ron�fir. nes �xn c7ta4'e7. A F=; son who ob:airs a:+�:r}g _zrension .�ncst fJe Na::rm tetwe�::
tita�uh 7 Fna J.�r.e � a ol u;tt y^zr.
;. p,-cpet,yownersNnoseSratemento.'derefi•swasz,.?roveCa`cr!une?0.7367n.�5!iuCm:(FCf?:CF•lacrn;atlyroa�cw;cmpfiarceK'ith;feStat9m?c:
ofBer.efits. p[6-7.1-12.1-5.6)
at:��ayer
?opa=a :'c.�r Nar�u'.actu:ir.g, Ind!a:.a� In:.
s� o, caxpapv lscee: a^c nwcber. o.ty. sta� ar,c Z:F :7i
t000 =ul:p Ire=_ vttve, 7.0. Bcz 4000
pc!r.cetCn, Indlaaa 4i670-+OCO
��ameotconiac;oarson v �. i;G_�;.a o?15 IR �E20:
at�hacd 7. 3a'_i, 3acnes S-tcrnSC'a, L S. eri.,'a❑ �c., - P e
f de.spr.e5ip _oGy
G!*_s�e C.cr.:y L.^t,�.ci:
: of ]ro.ar/
Sa? -xS:^:� 4 a_:acled
reel pr�F�'➢
IY2BS fnc
o: new
Ci:soa
Feel Es'ate
317 � 271•i516 �
;lu5c�namter :
�g c+isUict ;7y� _ ; Iovrshi� �
:;w =s,nshi; '
ESTI+AAT=C'
r�» na�e . Ccrcktion D3:e
Sze P.xt:ihl= A at.a:AeE � NewM'p E9uiprnea; Race 2J0' j eazly i003
Estinatttl selia �•.2ste ccr.erteC (?�-^GS) Esti,^+a:ed haarao�s waste ancer,e� !,�a.,ne<_)
+^�i?;e 3DO'fe tos: es'L.aatea ar,d L99t99<2 �'a'-ue 26C�O�[25 are eppros:.T�3=-�t5
OL�eroanx`rts: '�ds�� °° =he Sesc tn.`oret.o:+ currr.�cly a•:ailaSle for :te real esca=e
lapruverec:s and r.ac'i!ce.ry coee:ed.
►i�,iy
We ha•:e reviewetl ocr Fricr actlor.s relcting tPthe desiYnF�P oved bs tnis't d� rSald r stotuGonapasse�d u�e�r�IG 61P'�-�12�1 2.S�pho-
peneral ;tandards accpted fn the rsso4u:ion reviausl a Y /�
vides tor Na fcilrn+'Ing limitatlors as auCiorizeC urcer IC 6-1 J�12.t-2.
A. The ceaignated area has teen limi;ed to a perioc o! tims nct w exceed calantar years' {see Celow). The ta'e :his
designatlon ezpires is ' �
B. The type of deduc:ion tl�.at i9 allcwed In the designated area is lini?ed to: Yes ❑ No
t. RecevebpT.ent o• rehab�titz.icn of reai estate imcrcvemen's; ❑ Yes ❑ N o
2. Ir,stalla5on of new rca�utflcturing eqvipmer; ❑ Yes ❑ No
?. fiesiGentla�ly distrgssed a�eas
C..The anounl el dedxtlon applicable fer ne.v manufacturing equipmert is iimited tc S_
val�e of S �--
D.The amounc of deduc:ion ap�licahle ro receveicpmert or rehabilita�cn is lim�.ed to 5_
value of 5
cost wi[h an assesse�
�ps: •MCh an assesseG
E.Otha� limitadcns cr ccr,d�o�s (sFenrq
F. Tte daCuaiaa for new mar.ufacturing e?:ipmect installeC3rsnu�less �:ea es gca�'.ingbbccyhas tr� �cF.ACfo spe !net ;ne Gn {9C�yeerExrod.
G 5 years ❑ 1 � years l'te cedudion pericc wiil :e £.ve (5) ie
AI>o we �ave :evleHe� :he irfo�metion ccnteir.d in �e s:e:amen: ot bereEi:s ar,d 5nd Cat che es�rates ar,d expecta:wns are reason-
a:le and hava de!err,ineC hat rie !otali,y a.enefits is s�Kicien; to jasd`� che deduct�cr cescribed above.
� TeJrnone curce� '"a�e egre= l�orm, ca ; ysap
;prrn ei: (s�g.^,a:o; ^ enJ Gne c; a. iho: izad mem�e�j � I�
>::BSIBtl Cy:
f
I
�.uecve�ser�itladcl�ec ieBa�Ca"utCa�:o�arumberofyeasdes9ra'EduncerlC�-a>>21''ior4o5��'ety!t�'e�aC�s�lov} �
Year ot
pedu�llon
4th
Flve (5) Year � T�n (10) Year
Pe���Oa I Perannge
95°/a
! 7N 55Y �
� e� � ao ie �
� 9� 30.a
tOth � 25% I
Year of T�roe (7) Year
peduetlon DedutUon
15I � 100%
a:r
Siz (B1 Yaar i Tpe7u�etl�a� r
DetluClon
lt'�°�o � 1�Q�b
Been � 95%
66°.5 I 80%
�a�b�'�
Exhibit A
Location oi P:ooertv
'Ihc property on µ�hich t'r.e Project wilt be cons�-ucled is approximately 1200 acres of l�.zd
bounded on the w�est by US 41, bounded on thc north'oy County Road 350 Soutn, bounded on th�
ease by Ceunty Road 100 East as if extended w County Road 350 South, and bounced on the souL4
bv an 8 i acre cact of property known as Schumcia Fanns and a 1 C.1 acre tract of property e�tim�d
bv the Town o` Fert Branch.
Vamc of Taxpayer an3 Descriplion of Real
p-o�e-tv L-na-ovements and `ew �anufact�rine Eaui�ment
Teyo'a�iewr blanufaccuring, Indi ana, Inc. (the "Applic2nt") �ill expar.d its existing vehicle
asser:bty facility in Gibson Couny (L•'�e `Faci�ity") tc incre�e Cae Facili:}�'s capacin� fo; producing
motor �.'r.icies ur.der tk:e na�-r:epla:es o= Tc}e�a �fotur �ocpara:ioa by a�roximatoi�� 150,000 uni*.s
ansyally. "Ihe p;oject will cen_ist of the consu-actioe of p!an[ buildin3s az:d re!zted real estate
impro ✓.,nencs ana the insta]la-ion of new manufacturing equipmcnt in the buildin;s (th: "Froj ect").
The Projec� will double ;he Facili:y's p:od::cron capacity to 2pprexuyatelv 30U,00� units per year.
Cerain affiiiates ofthe Applicilt m2)� ir�vest tin and,'o: oH�n aporion oi the real atate i�pro��emen;s
anu ne�.� mamzfacn:ring eq�.:ipment as pare of the Project.
r3��`�
Exhibit B
EST1�lATE OF EAIYLOYEES A\'D SALARiF,S AS RESULT OF PROPOSED PROJECT
A�plican� s previou=f�-announ;;cd initial czpu.sion o`�hc Facilic;� (Phese 2-araounced Sprizg 199d)
tc ir.c:ease prodecri��e capaciry co 150,OGQ un;ts is cur,ently ur.denvay with a plzrr.ed sta.-t-up set ior Fall
200G. The cur.ent ru:r.ber o`employee; and rela:ed =_a!a.ry infoma*.ioa repored in Seccion 3 o(AracF_men:
I rcp.:srnt fze expectec e:nplo}-ner,t er.d selz.rv in`ormation uoon com�lerion of Phase 2. ?'he Projzct
descr.Sed in this application (Phax 3) w ill add an additior.al 20U0 cmployzes wi*.h cs*.ir.ie�x3 a��ernge
comper:satior. of 522.i0 per hour. Acerage compassation initizlly will oe ]ower than such amuur.t, bu: will
¢:aduall;• increaae to 522.:0 per ho:u by late 2005.
ESTDIa'IED ?OTAL COST A�'D �'ALL"E OF PROPOSED PROJECT
Secdon 4 Real Eetate [mprovements �iachlnery
Assessed Assessed
Cost Valee" Cost Vzlae""
C�`-:; SiSi,GGQ,000- 551,550,167- 575J,C�G0.o0o- 5190,090,000-
��slues' 52-�,QG0,000 53!,556;66b 5925,C�OG,000 Si23,733:333
Piu: esr:ma:ed 5 90,GOG,000 - S�O,OOO:G00 - S�i35,QOG,000 - S�8>000000 -
��3iuescf 5i70.QGG,000 y56,556:66i S>40,OG0,000 S?2,0OO,OG6
�roposed projcct
Less va!ues of
dII� �f0��
ot:r.a teplacec -0• '�' -�� -�
�e; es:imzt�d $245,OOU,000 - S 81,665,66- • 5'.,185,000:000 - siss,000,G00 -
ca�ues u:+e-: 5=15,000,000 S':38,333,333 51,468,OODACG 5195,733,333
c�:r;plerion of
project`
As ir.3iczted aSove, :he P:�ase 2 expans'.or. is r.ot yet complet:.c'. Thc above amounts r_portcd as
"O_::ent Va:ues" represer;t es:i-nates of �r:e cost and asscssed �'alue o'.;:e Facility'ipon eompleaor.
oi Phase 2, zs orignal'.y projected ir. [he Form SB- I's fo; Paase ? and Phase II.
'• 1'he assessed value o; thz real proper.,� imp:ovemrnts depends oa th� assessment entered by ihn
;ow-i=hip. The abo�'e esac�te s=ta;ed as !i3 of estimated cer.sr.uction costs. Th� actual asessed
va?ur is expectcd to •+ary 'rom this amount.
"' Tne asessed vaL:e af:rac'.:inery �*'ill vary from this proje.ted f;gue based on �fle specific dollar
calue a_=sociatcd with spccial toolir.3 incl'i3ed ��it}in the sa::�ir.e"� to-sl.
The abo�•e cc'_, estimates and bssess:d value estiizates `ur thi; ?roj��t (p� as� 3) are aaproxira�ations
buca ia the bes: in:ornation currcail;' avail3�le to: the real es.ate ir:.pro�emer.ts and maehinrn� co��emd.
Fir.al fi¢ure> may dif:`cr from t;�e above.
fVRV' RYN 3_'!9:5.1
0
� JERRI' D. STIL�t'ELL
, u�b�`�•
:ltcomzc at La«�
302 NORTH PRWCE STREET
YRIXCETO\, IXDI.�.Xa 47070
TELEPHONE: Ic3121 3B5�6c9z
FPX: IB�21 366-64d0
=_;7"_�°l' !�, ��OQ
TO: G'_DSO"! COL'[?L�i COU`�C_!
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T:�:zs __as been olaced on =._. -genda =o- _..� le�r�ar•y 15, 2000
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