HomeMy Public PortalAboutResolution 07-2014-7r
RESOLUTION 2014 - 7
A Resolution Establishing a Capital Improvement Plan for the County Economic
Development Income Tax
Whereas, the City of Greencastle will have available to it funds collected from the
County Economic Development Income Tax; and
Whereas, I.C. requires the adoption of a Capital Improvement Plan;
NOW THEREFORE BE IT RESOLVED THAT THE CITY OF GREENCASTLE
establishes an Economic Development Income Tax Capital Improvement Plan as follows:
A. Project
1. EDIT Bond Repayment - Relocation of City Hall
2. Homeless Solutions
3. Neighborhood Sidewalk Renovation
4. South Street Engineering /Construction
5. Maple Berry Park Phase II
6. People Pathway Phase IV Engineering
7. Unsafe Buildings
8. Animal Control
9. Rural Transit
10. Economic /Community Development
B. Description
1. EDIT Bond Repayment- Relocation of City Hall
2. Homelessness
3. Neighborhood Sidewalk Renovation
4. South Street Engineering/ Land Acquisition/Construction
5. Maple Berry Park Phase II
6. People Pathway Phase IV Engineering
7. Unsafe Buildings
8. Animal Control
9. Rural Transit
10. Economic /Community Development
$150,000
$30,000
$300,000
$700,000
$300,000
$205,000
$150,000
$30,000
$30,000
$690,000
C. Estimated Cost -Total Project Estimate $2,585,000
D. Source of Funds:
County Economic Development Income Tax Funds $1,403,784*
(Estimated at $467,928* per year over a three (3) year time period)
EDIT Balance as of November 21, 2014 $1,681,581
E. Project Time Schedule
1, EDIT Bond Payment for City Hall
2. Homelessness
3. Neighborhood Sidewalk Renovation
4. South Street Engineering /Construction
5. Maple Berry Park Phase II
6. People Pathway Phase IV Engineering
7. Unsafe Buildings
8. Animal Control
9. Rural Transit
10. Economic /Community Development
a. The above projects require more than 75% of the funds to be distributed over a three
(3) year period beginning with the spring tax installation of 2015.
b. This resolution shall be effective from the date of adoption until January 1, 2018.
c. PASSED AND RESOLVED by the Greencastle Common Council this 9 day of
December, 2g•14 at o'clock p.m.
, p,
Vid,_
ATTEST:
Tyler Wade
Approved and signed by me this 9 of December, 2014 at g,c0 o'clock p.m.
■
Susan V. Murray, Mayor
Ly4a R. Dunbar, Clerk Treasurer
Jinsie S. Bingham
Phyfis Rokicki"
$50,000 per year*
$10,000 per year*
$100,000 per year*
$700,000 (2015,'16)
$300,000 (2015)
$205,000
$50,000 per year*
$10,000 per year*
$10,000 per year*
$230,000 per year*