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Beckett's Tax Abatement was approved. The Total Real Property Tax Forgone over Project Term is $466,705; Total Tangible Personal Property Tax Forgone over Project Term is $433,193; or a total of $899,898.00. Beckett Air, Inc. will remit to the N. Ridgeville City School system $17,500 per year beginning in the Year 2002. This is the FOURTH ABATEMENT since 1993 and will total nearly $18 million abatement on assessed tax value. Here are the details of 3 previous abatements:

R. W. Beckett and Beckett Gas - 1998 through 2007 - 100% on Tangible personal property
(Resolution 841-97) ($6,550,000 - fair market valuation)

1998 through 2007 - 100% for personal property improve
($5 million - fair market valuation)

Total Abated: $11,550,000 (fair market valuation)

Payment to N. R. Schools: $25,000/year beginning in 1999 through the remains of the 100% real estate tax abatement or $225,000 for a 9-year period.

Beckett Air and R. W. Beckett - 1993 through 2002 - 100% on $3,400,000 real and (Resolution 744-93) personal property (fair market value)

Beckett Air and R. W. Beckett - 1993 through 2002 -100% on $2,400,000 tangible real (Resolution 743-93) property acquired (fair market value)

Payment to N. R. Schools for two Abatements given in 1993: $6,000/yr. or $60,000 total for 10-year period

TOTAL OF THE 3 ABATEMENTS: $17,350,000 (fair market valuation)

GRAND TOTAL GIVEN TO THE SCHOOLS FOR 3 ABATEMENTS: $285,000

We don't have money to purchase asphalt for our paving machine nor enough money to adequately repair our roads. Council approved purchasing a $85,000 truck ("because of our growing population" according to the legislation). Residents were asked to increase their income tax by over 40% to pay for a community center. Is this shifting the tax burden from tax payers to industry?

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CITY OF NORTH RIDGEVILLE TAX ABATEMENT REVIEW BOARD - meeting was held March 22, 2001 - R. W. Beckett Corporation

The meeting was called to order by Mayor Deanna Hill at 11:10 a.m. at N. Ridgeville City Hall, Community Room, 7307 Avon Belden Rd.

Present was Mayor Deanna L. Hill, Chamber of Commerce representative Bob Liston, City School Superintendent Dr. Thomas Rockwell, City School Treasurer Biagio Sidoti, City Treasurer James R. McVeigh, and Recording Secretary Asst. Clerk of Council Paula D. Cope. City Council Finance Committee Chairman, Allen C. Swindig, was absent.

Treasurer McVeigh explained that this abatement request is for a 60,000 sq. ft. addition. there is currently an abatement on the front portion of this property. The schools are receiving $6,000 per year on the current abatement. R. W. Beckett has applied for a tax abatement on the building and Beckett Air has applied for a tax abatement on the personal property. the construction cost of the new addition is estimated at $3,573,385. R. W. Beckett is requesting a 100% abatement on the building for ten years. Beckett Air is requesting a 100% tax abatement for ten years on the personal property. Their estimated costs are $4,000,000 on the machinery and equipment; $200,000 on the furniture and fixtures; and $1,000,000 in inventory. Theyhave agreed to give the schools $20,000 per year over the life of the tax abatement, plus the schools will receive the income tax sharing on the new employees.

Mayor Hill noted that should the Community Center be built, the $20,000 contribution will go to the Senior Center instead of the schools. Stated that Beckett has been very good to the community in jobs and has always exceeded expectations of the county, who are very impressed with their contribution to our community. Noted that Beckett has doubled their expectations of their current tax abatement agreement. Explained the three-step process on this tax abatement.

Motion by Dr. Rockwell to approve the request tax abatements, second by Mr. Liston. All approved. Mr. Liston noted, from the Chamber of Commerce's standpoint, that this is excellent.

Meeting adjourned at 11:16 a.m.

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Page Updated Fri Oct 1, 2004 11:26pm EDT