cardinal glass industries durant tif founded in 1962 5500+ employees 27 manufacturing locations...
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CARDINAL GLASS INDUSTRIESDURANT TIF
Founded in 1962
5500+ Employees
27 Manufacturing Locations
Corporate HeadquartersEden Prairie, Minnesota
DURANT CARDINAL FG
APRIL 2003
CARDINAL FG CONSTRUCTION PHASE
CITY PLANNING & ZONINGCHAIRMAN
DURANT INDUSTRIAL AUTHORITY CHAIRMAN
BRYAN COUNTY COMMISSIONERS
CHAIRMAN
DURANT SCHOOL DISTRICT BOARD CHAIRMAN
DURANT KIAMICHI TECHNOLOGY CENTER
SUPERINTENDENT
BRYAN COUNTY EMERGENCY MEDICAL SERVICES BOARD
PRESIDENT
BRYAN COUNTY HEALTH DEPARTMENT DIRECTOR
2 COMMITTEE MEMBERSAT LARGE
TAX INCREMENT FINANCING COMMITTEEMAYOR JERRY TOMLINSON – CHAIRMAN TIF
CARDINAL FG INVESTMENT
LAND/BUILDING: $26,000,000
EQUIPMENT: $74,600,000
ROBOTIC STACKERS: $3,745,790
DURANT INFRASTRUCTURE: $7,809,131
TOTAL INVESTMENT: $112,154,921
FUNDING REVENUES:TAX INCREMENT FINANCING $5,200,000TIF TRUST INVESTMENT EARNINGS
$ 29,967
CARDINAL CONTRIBUTION * $1,525,454CARDINAL LAND INVESTMENT * $ 356,710 ODOT GRANT $ 100,000CDBG GRANT $ 100,000CDBG LOAN * $ 400,000TOTAL PROJECT REVENUES $ 7,809,131
CITY OF DURANTTIF FUNDING REVENUES
MAIN PLANT ENTRANCE
A/C COLD END PACKING
2900 DEGREE
FURNACE
RAIL SPURBATCH HOUSE
PRODUCTION START DATEJULY 4, 2004
WORKFORCE PAYROLL7/4/2004 – 10/31/2011
$66,830,476(7 YEARS 3 MONTHS)
NUMBER OF EMPLOYEES 270
2011 PROJECTED PAYROLL $9,298,073
LOCAL EMPLOYEE TRAINING THROUGHKIAMICHI TECHNOLOGY CENTER
$710,000
PRODUCTION FAQ
JULY 4, 2004 – OCTOBER 31, 2011
LOCAL SAND USED 870,000+ TONS
NATURAL GAS PURCHASED
$57,926,951
GLASS PRODUCED 1,470,747 TONS
TAX INCREMENT FINANCING CARDINAL FG PROPERTY TAX
TAX RECEIPTS:7/13/2006 – 11/02/2011(5 YEARS, 3 MONTHS)
$6,191,539.95
INTEREST EARNINGSTHROUGH 11/14/2011
$6,168.68
TOTAL PROPERTY TAX RECEIPTS
$6,197,708.63
TAX INCREMENT FINANCING CARDINAL FG PROPERTY TAX
7/17/2006 – 12/01/2011(5 YEARS, 4 MONTHS)
$5,000,000.00
INTEREST PAIDTHORUGH 12/01/2011
$1,196,001.33
TOTAL PAID $6,196,001.33
PAYMENT BALANCE $973,266.67
TAX INCREMENT FINANCING BONDS CALLED:
BRYAN COUNTY TREASURERVALUATIONS – TAXES COLLECTEDTAX YEAR VALUATION TAX AMT TO BE COLLECTED
1998 $93,871,436.00 $7,732,615.401999 $100,445,650.00 $8,202,143.202000 $109,866,153.00 $8,898,342.282001 $118,670,260.00 $10,121,833.922002 $126,263,987.00 $10,813,303.602003 $137,605,693.00 $11,646,516.322004 $152,551,178.00 $12,365,781.202005 $179,425,806.00 $15,252,231.762006 $189,471,429.00 $16,165,285.562007 $198,871,102.00 $16,736,427.982008 $210,956,317.00 $17,819,969.002009 $238,822,840.00 $20,320,364.002010 $265,261,093.00 $22,424,843.00
Mayor Jerry L. TomlinsonCity of DurantP.O. Box 578
Durant, OK 74702Phone: 580-931-6605
Tommy Kramer, Executive DirectorDurant Industrial Authority 215 North Fourth Avenue
Durant, OK 74701Phone: [email protected]