HomeMy Public PortalAbout004-2023 - Approving an Order of the Richmond Plan Comission - Midwest Industrial Park RICHMOND COMMON COUNCIL
RESOLUTION NO.4-2023
A RESOLUTION OF THE RICHMOND COMMON COUNCIL APPROVING
AN ORDER. OF THE RICHMOND PLAN COMMISSION
WHEREAS, the Richmond ("City") Redevelopment Commission ("Commission") on
September 25, 1989, adopted a declaratory resolution, as amended on February 9, 1993, February
25, 2008,. May 27, 2015, April 18, 2016 and June 9, 2022 (collectively, as amended, "Original
Declaratory Resolution"), as confirmed by confirmatory resolutions adopted on March 5, 1990,
July 8, 2015, May 1.6, 201.6 and July 12, 2022 (collectively, as amended, "Original Confirmatory
Resolution"), establishing and expanding the Richmond Redevelopment Area ("Original Area")
as a redevelopment area under IC 36-7-14 and IC 36-7-25 (collectively, "Act");
WHEREAS, the Original Declaratory Resolution and the Original Confirmatory
Resolution are hereinafter collectively referred to as the "Area Resolution;"
WHEREAS, the Area Resolution approved the Redevelopment Plan, as amended
(collectively, as amended, "Original Plan") which Original Plan contained specific
recommendations for redevelopment in the Original Area;
WHEREAS, the Area Resolution designated three allocation areas in accordance with IC
36-7-14-39 (collectively, "Original Allocation Areas"), including the Redevelopment Allocation
Area (commonly known as the Downtown Allocation Area #1. and hereinafter referred to as the
"Original Downtown Allocation Area") and the MIP Phase 3 Allocation Area ("MIP Allocation
Area") for the purpose of capturing real and depreciable personal property taxes generated from
the incremental assessed value of real and depreciable personal property located in the Original
Allocation Areas;
WHEREAS, the Common Council approved the creation and expansion of the Original
Area and the Original Allocation Areas;
WHEREAS, a portion of the Original Area is within the jurisdiction of the Wayne County
("County") Redevelopment Commission ("County Commission") and is contiguous with the
Original Area and located within the jurisdiction of the County Commission ("County Area");
WHEREAS, IC 36-7-25-4 authorizes the County and the Commission to jointly undertake
economic development projects in contiguous areas within each unit's jurisdiction;
WHEREAS, the Board of Commissioners of the County did on June 8, 2022 assign the
County Area to the Commission for the purpose of economic development and the allocation of
property tax proceeds and authorized the Commission to take all action in the assigned area that
could be taken by a redevelopment commission in an allocation area under IC 36-7-25-4;
WHEREAS, on April 1.E 2023, the Commission adopted a resolution amending the Area
Resolution ("Amending Declaratory Resolution") and Original Plan to: (i) reduce the Original.
4866-6838-9981.1
Downtown Allocation Area by removing Parcel Nos. 89-18-05-220-405.000-030, 89-18-05-220-
406.000-030 and 89-18-05-220-407.000-030 (generally located at the southeast corner of East
Main Street and South 6th Street)(collectively, "Parcels")from the Original Downtown Allocation
Area (as reduced, the "Redevelopment Allocation Area") and designating the Parcels as the
"Downtown Allocation Area #2 (as set forth on the map attached thereto as Exhibit A); (ii)
designate Viking Group, Inc. and Liberation Labs, each as a "designated taxpayer" for purposes
of capturing increases in depreciable personal property assessed value in the MIP Allocation Area
located in the Original Area; and (iii) add the development of additional housing options, along
with certain first floor commercial space, on the current site of the former Elder Beerman building
located at 601 E. Main Street in downtown Richmond, together with all necessary infrastructure
to the Original Plan (as amended, "2023 Plan");
WHEREAS, the Richmond Plan Commission ("Plan Commission") approved the
Amending Declaratory Resolution and the 2023 Plan on April 27, 2023; and
WHEREAS, IC 36-7-14 and IC 36-7-25 and all acts supplemental and amendatory thereto
("Act") requires the approval of action of the Plan Commission by the Common Council of the
City;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE
CITY OF RICHMOND, INDIANA, THAT:
Section 1. The action of the Plan Commission on April 27, 2023, approving the
Amending Declaratory Resolution and 2023 Plan is in all respects hereby approved by the
Common Council.
Section 2. This resolution shall be in full force and effect from and after its passage
and approval by the Mayor.
Passed by the Common Council of the City of Richmond, Indiana, this 1st day of May,
2023.
COMMON COUNCIL OF THE CITY OF
RICHMOND, INDIANA
(7.
Presidi Officer
ATTEST:
Clerk
Presented by rne to the Mayor of the City of Richmond, Indiana, this day of May,
2023 at „;?,:LF) .m.
- 2 -
4866-6838-9981,1
Clerk
Signed and avproved by me, the Mayor of the Cifof Richmond, Indiana, on thislay
of May, 2023 at
"---tvta or
- 3 -
4866-6838-9981.1
ORDER OF' THE RICHMOND PLAN COMMISSION
DETERMINING THAT A RESOLUTION AMENDING THE
DECLARATORY RESOLUTION AND PLAN APPROVED
AND ADOPTED BY TIIE IZICIIMOND REDEVELOPMENT
COMMISSION CONFORMS TO THE COMPREHENSIVE
PLAN AND APPROVING SAID RESOLUTION AND PLAN
WHEREAS, the Richmond ("City") Redevelopment Commission ("Commission") on
September 25, 1989, adopted a declaratory resolution, as amended on February 9, 1.993,
February 25, 2008, May 27, 2015, April 18, 201.6 and June 9, 2022 (collectively, as amended,
"Original Declaratory Resolution"), as confirmed by confirmatory resolutions adopted on.
March 5, 1990, July 8, 2015, May 16, 2016 and July 12, 2022 (collectively, as amended,
"Original Confirmatory Resolution"), establishing and expanding the Richmond Redevelopment
Area ("Original Area") as a redevelopment area under IC 36-7-1.4 and IC 36-7-25 (collectively,
"Act");
WHEREAS, the Original Declaratory Resolution and the Original Confirmatory
Resolution are hereinafter collectively referred to as the "Area Resolution;"
WHER.EA.S, the Area Resolution approved the Redevelopment Plan, as amended
(collectively, as amended, "Original Plan") which Original Plan contained specific
recommendations for redevelopment in the Original Area;
WHEREAS, the Area Resolution designated three allocation areas in accordance with IC
36-7-14-39 (collectivay, "Original Allocation Areas"), including the Redevelopment Allocation
Area (commonly known as the Downtown Allocation Area #1 and hereinafter referred to as the
"Original Downtown Allocation Area") and the Mai Phase 3 Allocation Area ("M.IP Allocation
Area") for the purpose of capturing real and depreciable personal property taxes generated from
the incremental assessed value of real and depreciable personal property located in the Original
Allocation Areas;
'WHEREAS, the Common Council approved the creation and expansion of the Original.
Area and the Original Allocation Areas;
WHEREAS, a portion of the Original Area is within the jurisdiction of the Wayne
County ("County") Redevelopment Commission ("County Commission") and is contiguous with
the Original Area and located within the jurisdiction of the County Commission ("County
Area");
WHEREAS, IC 36-7-25-4 authorizes the County and the Commission to jointly
undertake economic development projects in contiguous areas within each unit's jurisdiction;
WHEREAS, the Board of Commissioners of the County did on June 8, 2022 assign the
County Area to the Commission for the purpose of economic development and the allocation of
4856-2040-3805,1
property tax proceeds and authorized the Commission to take all action in the assigned area that
could be taken by a redevelopment commission in an allocation area under IC 36-7-25-4;
WHEREAS, on April 11, 2023, the Commission adopted a resolution amending the Area
Resolution ("Amending Declaratory Resolution") and Original Plan to: (i) reduce the Original
Downtown Allocation Area by removing Parcel Nos. 89-18-05-220-405.000-030, 89-18-05-220-
406.000-030 and 89-18-05-220-407.000-030 (generally located at the southeast corner of East
Main Street and South 6th Street) (collectively, "Parcels") from the Original Downtown
Allocation Area (as reduced, the "Redevelopment Allocation Area") and designating the Parcels
as the "'Downtown Allocation Area#2 (as set :forth on the map attached thereto as Exhibit A); (ii)
designate Viking Group, Inc. and Liberation Labs, each as a "designated taxpayer" for purposes
of capturing increases in depreciable personal property assessed value in the MIP Allocation
Area located in the Original Area; and (iii) add the development of additional housing options,
along with certain first floor commercial space, on the current site of the former Elder Beerman
building located at 601 E. Main Street in downtown Richmond, together with all necessary
infrastructure to the Original Plan (as amended, "2023 Plan"); and
WHEREAS, the Act requires approval of the Amending Declaratory Resolution and the
2023 Plan by the Richmond Plan Commission ("Plan Commission");
NOW, THEREFORE, 131" 1-17 ORDERED BY THE RICHMOND PLAN COMMISSION,
AS FOLLOWS:
1. The Amending Declaratory Resolution and the 2023 Plan conform to the
Comprehensive Plan of development for the City.
2. The Amending Declaratory Resolution and the 2023 Plan are in all respects
approved.
3. The Secretary of the Plan Commission is hereby directed to file a copy of the
Amending Declaratory Resolution and the 2023 Plan with the permanent minutes of this
meeting.
Passed by the Richmond Plan Commission, this 27th.day of April, 2023.
President
ATTEST:
Secretary
7
4856-2040-3805,1
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AMENDING DECLARATORY RESOLUTION NO. 4-2023
AMENDING DECLARATORY RESOLUTION OF THE RICHMOND
REDEVELOPMENT COMMISSION REDUCING THE REDEVELOPMENT
ALLOCATION AREA OF THE RICHMOND REDEVELOPMENT AREA
AND CREATIN, G THE DOWNTOWN ALLOCATION AREA #2 AND
DESIGNATING TAXPAYERS IN THE MIP ALLOCATION AREA
WHEREAS, the Richmond ("City") Redevelopment Commission ("Commission") on
September 25, 1989, adopted a declaratory resolution, as amended on February 9, 1993,
February 25, 2008, May 27, 2015, April 18, 2016 and June 9, 2022 (collectively, as amen.ded,
"Original Declaratory Resolution"), as confirmed by confirmatory resolutions adopted on
March 5, 1990, July 8, 2015, May 16, 2016 and July 12, 2022 (collectively, as amended,
"Original Confirmatory Resolution"), establishing and expanding the Richmond Redevelopment
Area ("Original Area") as a redevelopment area under IC 36-7-14 and IC 36-7-25 (collectively,
"Act");
WHEREAS, the Original Declaratory Resolution and the Original. Confirmatory
Resolution are hereinafter collectively referred to as the "Area Resolution;"
WHEREAS; the Area Resolution approved the Redevelopment Plan, as amended
(collectively, as amended, "Original Plan") which Original Plan contained specific
recommendations for redevelopment in the Original Area;
WHEREAS, the Area Resolution designated three allocation areas in accordance with IC
36-7-14-39 (collectively, "Original Allocation Areas"), including the Redevelopment Allocation
Area (commonly known as the Downtown Allocation Area #.1 and hereinafter referred to as the
"Original Downtown Allocation Area") and the MIP Phase 3 Allocation Area ("MIP Allocation
Area") for the purpose of capturing real and depreciable personal property taxes generated from
the incremental assessed value of real and depreciable personal property located in the Original
Allocation Areas;
WHEREAS, the Common Council approved the creation and expansion of the Original
Area and the Original Allocation Areas;
WHEREAS, a portion of the Original Area is within the jurisdiction of the Wayne
County ("County") Redevelopment Commission ("County Commission") and is contiguous with
the Original Area and located within the jurisdiction of the County Commission ("County
Area");
WHEREAS, IC 36-7-25-4 authorizes the County and the Commission to jointly
undertake economic development projects in contiguous areas within each unit's jurisdiction;
WHEREAS, the Board of Commissioners of the County did on June 8, 2022 assign the
County Area to the Commission for the purpose of economic development and the allocation of
property tax proceeds and authorized the Commission to take all action in the assigned area that
could be taken by a redevelopment commission in an allocation area under IC 36-7-25-4;
4894-8242-9530.1
WHEREAS, IC 36-7-14-39.3 authorizes the Commission to designate a "designated
taxpayer,'' if the Commission finds that:
(i) The taxes to be derived from the taxpayer's depreciable personal property
in the allocation area and all other depreciable personal property located and taxable on
the designated taxpayer's site of operations within the allocation area, in excess of the
taxes attributable to the base assessed value of that personal property, are needed to pay
debt service on bonds issued under IC 36-7-14-25.1, or to make payments or to provide
security on leases payable under IC 36-7-14-25.2, in order to provide local public
improvements for a particular allocation area;
(ii) The taxpayer's property in the allocation area consists primarily of
industrial, manufacturing, warehousing, research and development, processing,
distribution or transportation related projects or regulated amusement devices (as defined
in IC 22-12-19.1) and related improvements, other than an amusement park or tourism
industry project; and
(iii) The taxpayer's property in the allocation area does not consist primarily of
retail,commercial or residential projects;
WHEREAS, IC 36-7-14-39.3 authorizes the Commission to modify the definition of
property taxes in IC 36-7-14-39(a) for the purpose of including taxes imposed under IC 6-1.1 on
the depreciable personal property of a designated taxpayer and all other depreciable property
located and taxable on the designated taxpayer's site of operations within the allocation provision
included in a declaratory resolution;
WHEREAS,the Commission now desires to amend the Area Resolution to: (i)reduce the
Original Downtown Allocation Area by removing Parcel Nos. 89-18-05-220-405.000-030, 89-
18-05-220-406.000-030 and 89-18-05-220-407.000-030 (generally located at the southeast
comer of East Main Street and South 6th Street) (collectively, "Parcels") from the Original
Downtown Allocation Area (as reduced, the "Redevelopment Allocation Area") and desi: ating
the Parcels as the "Downtown Allocation Area #2 (as set forth on the map attached hereto as
Exhibit A); (ii) desii ate Viking Group, Inc. and Liberation Labs, each as a "designated
taxpayer" for purposes of capturing increases in depreciable personal property assessed value in
the M1P Allocation Area located in the Original Area; and(iii) add the development of additional
housing options, along with certain first floor commercial space, on the current site of the former
Elder Beeman building located at 601 E. Main Street in downtown Richmond, together with all
necessary infrastructure to the Original Plan(as amended, "2023 Plan");
WHEREAS, the Redevelopment Allocation Area shall maintain the same base
assessment date as the Original Downtown Allocation Area;
WHEREAS, the Downtown Allocation Area #2 shall have a base assessment date of
January 1, 2023;
WHEREAS, the Commission has certain outstanding: (i) Tax Increment Revenue Bonds
of 2015, Series A, dated July 21, 2015, now outstanding in the amount of $1,540,000 and
-2 - Resolution 4-2023
4894-8242-9530,1
maturing on January 15, 2040 ("2015A Bonds"); (ii) Taxable Tax Increment Revenue Bonds of
2015, Series B, dated July 21,2015,now outstanding in the amount of$356,250 and maturing on
July 15, 2035 ("2015B Bonds" and hereinafter collectively with the 2015A Bonds, the "2015
Bonds"); and (iii) Taxable Tax Increment Revenue Bonds of 2022, dated July 28, 2022, now
outstanding in the amount of S2,680,000 and maturing on January 15, 2040 ("2022 Bonds"),
each payable from tax increment collected in the Original Downtown Allocation Area;
WHEREAS, Bond Resolution No. 2-2015 and Bond Resolution No. 5-2022 (hereinafter,
collectively, "Resolutions") authorizing the 2015 Bonds and the 2022 Bonds (hereinafter,
collectively, "Outstanding Bonds"), allow alteration of the Original Downtown Allocation Area
if, in the judgment of the Commission, the alteration does not: (i) adversely affect the owners of
the Outstanding Bonds; or(ii) impair the pledge of Tax Increment (as defined in the Resolutions)
to the Outstanding Bonds; and
WHEREAS, IC 3671417.5 authorizes the Commission to amend the Area Resolution
after conducting a public hearing, if it finds that:
(i) The amendments and 2023 Plan are reasonable and appropriate when
considered in relation to the Area Resolution and the purposes of IC 36714; and
(iv) The Area Resolution, with the proposed amendments, and the 2023 Plan
conform to the comprehensive plan for the City; "
NOW, THEREFORE, BE IT RESOLVED BY THE RICHMOND REDEVELOPMENT
COMMISSION, THAT:
Section 1, The Commission hereby finds that: (i) the current incremental assessed
value in the proposed Downtown Allocation Area #2 is $0.00 due to the Parcels being tax
exempt; (ii) the current estimated tax increment revenue from the proposed Downtown
Allocation Area#2 is $0.00; (iii) the current estimated debt service coverage on the Outstanding
Bonds for 2024 is 765%; and (iv) the estimated coverage assuming the Parcels are removed is
793%; therefore, the Commission further finds that altering the Original Downtown Allocation
Area in the manner set forth herein will not adversely affect the owners of the Outstanding
Bonds or impair the pledge of Tax Increment in any material way.
Section 2. The Area Resolution is hereby amended to: (i) reduce the Original
Downtown Allocation Area by removing the Parcels from the Original Downtown Allocation
Area and desit ating the Parcels as the Downtown Allocation Area #2; (ii) designate Viking
Group, Inc. and Liberation Labs each as a "designated taxpayer" for purposes of capturing
increases in depreciable personal property assessed value in the Mil' Allocation Area; and (iii)
approve the 2023 Plan.
Section 3. The Commission hereby modifies the definition of property taxes in. IC
36-7-14-39(a) to include taxes imposed under IC 6-1.1 on the depreciable personal property
located and taxable on each designated taxpayer's (designated below) site of operations within
the MIP Allocation Area in accordance with the procedures and limitations set forth in IC 36-7- -
14-39 and-39.3.
- 3 - Resolution 4-2023
4894-8242-9530.1
Section 4. (a) The Commission hereby designates as a "designated taxpayer"
Viking Group, Inc., and all subsidiaries, designees, successors and assigns on its site of
operations, and hereby designates as a "designated taxpayer" Liberation Labs, and all
subsidiaries, designees, successors and assigns on its site of operations (collectively, "Designated
Taxpayers") solely in the MIP Allocation Area.
(b) The Commission hereby finds that:
(i) The taxes to be derived from the Designated Taxpayers' depreciable
personal property in the MIP Allocation Area and all other depreciable personal property
located and taxable on the Designated Taxpayers' sites of operations within the MEP
Allocation Area, in excess of the taxes attributable to the base assessed value of that
personal property, are needed to pay debt service on bonds issued under IC 36-7-14-25.1,
or to make payments or to provide security on leases payable under IC 36-7-14-25.2, in
order to provide local public improvements for a particular allocation area;
(ii) The Designated Taxpayers' property in the MIP Allocation Area consists
primarily of industrial, manufacturing, warehousing, research and development,
processing, distribution or transportation related projects or regulated amusement devices
(as defined in IC 22-12-19.1) and related improvements; and
(iii) The Designated Taxpayers' property in the MIP Allocation Area does not
consist primarily of retail, commercial or residential projects.
Section 5. It will be of public utility and benefit to amend the Area Resolution and
implement the 2023 Plan to encourage the development of a four (4) story multi-family
apartment building with approximately one hundred fifty (150) residential units and between
3;000 and 5,000 square feet of first floor retail space("Development").
Section 6. The Commission further finds that the public health and welfare will be
benefited by the amendment to the Area Resolution.
Section 7. The Commission now finds and determines that the amendments
described in Sections 2, 3 and 4 above are reasonable and appropriate when considered in
relation to the Area Resolution as amended by this amending resolution and to the economic
development purposes set forth in IC 36714. The Commission finds that the Area Resolution,
with the amendments, conform to the comprehensive plan for the City.
Section 8. The Commission hereby finds that the creation of the Downtown
Allocation Area 1#2 will reasonably esult in new property taxes that would not have been
generated without this new allocation provision because incentives arc required for the
construction of the Development and the tax increment to be generated by the Development is
needed to induce the cccstruetion of the Development.
Section 9. The Commission hereby finds that the immediately adjoining properties to
the Development will positively benefit from accomplishment of the 2023 Plan and that no
-4- Resolution 4-2023
4894-8242-9530,1
parcels of property in the Original Area will be negatively affected by the creation of the
Downtown Allocation Area#2 and accomplishment of the 2023 Plan.
Section 10. The Original Allocation Areas shall maintain their original base
assessment date or dates applicable when the Parcel was contained in the Original Area.
Section 11. The Downtown Allocation Area #2 shall have a base assessment date of
January 1, 2023,
Section 12. The allocation provision in effect when the Original Downtown Allocation
Area was desiLu ated shall continue to apply to the Original Downtown Allocation Area.
Section 13. This paragraph shall be considered the allocation provision for the
Downtown Allocation Area#2 for purposes of IC 36-7-14-39. The entire Downtown Allocation
Area #2 shall constitute an allocation area as defined in IC 36-7-14-39. Any property taxes •
levied on or after the effective date of this resolution by or for the benefit of any public body
entitled to a distribution of property taxes on taxable property in the Downtown Allocation Area
#2 shall be allocated and distributed in accordance with IC 36-7-14-39 or any applicable
successor provision. The Commission hereby modifies the definition of property taxes in IC 3 6-
7-14-39(a)to include taxes imposed under IC 6-1.1 on the depreciable personal property located
and taxable on the Desi: ated Taxpayers' sites of operations,within the MIP Allocation Area in
accordance with the procedures and limitations set forth in IC 36-7-14-39 and -39.3. The
allocation provision for' the Downtown Allocation Area #2 shall expire no later than 25 years
after the date on which the first obligation is incurred to pay principal and interest on bonds or
lease rentals on leases payable from tax increment in the Downtown Allocation Area #2. The
allocation provision for each Designated Taxpayer shall expire no later than 25 years after the
date on which the first obligation is incurred to pay principal and interest on bonds or lease
rentals on leases payable from personal property tax increment of each Designated Taxpayer.
Section 14. The Secretary is instructed to submit this resolution to the Richmond Plan
Commission ("Plan Commission") for approval. The Commission further directs the presiding
officer to submit this resolution and the approving order of the Plan Commission to the Common
Council for its approval of the amendments to the Area Resolution.
Section 15. The Commission also directs the presiding officer, after receipt of the
written order of approval of the Plan Commission which has been approved by the Common
Council, to publish notice of the adoption and substance of this resolution in accordance with IC
5-3-1-4 and to file notice with the Plan Commission, the Board of Zoning Appeals, the building
commissioner and any other departments or agencies of the City concerned with unit planning,
zoning variances, land use or the issuance of building permits. The notice must state that maps
and plats have been prepared and can be inspected at the office of the City's department of
redevelopment and must establish a date when the Commission will receive and hear
remonstrances and objections from persons interested in or affected by the proceedings
pertaining to the proposed amendments to the Original Downtown Allocation Area and will
determine the public utility and benefit of the proposed amendments to the Original Downtown
Allocation Area.
-5 - Resolution 4-2023
4894-8242-9530.i
1-0E56-a-68-M8V
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EXHIBIT A
Map of Richmond Redevelopment Area and Downtown Allocation Area#2
(Attached)
- 7 - Resolution 4-2023
4894-8242-9530.1
tvl DecBaonT Wayne County, IN
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Address RICHMOND MUNICIPAL ITY-640 RICHMOND,IN 2/4/2019 $750000 n/a Q
Acreage 13092 47374
District RICHMOND
Brief LOTS 105&106.15-i)T LOTS 109&150.1S;LOT i&PT LOT 2 CA;OM 288&289&PT
Tax Description OM 290VAC ALLEY ADT 1.5019A
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Date created:3/3/2023
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Address RICHMOND MUNICIPALITY-640 OFFICE n/a 0 n/a n/a
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District RICHMOND
Brief Tax Description LOT 114&SOFT LOT 113 JS&OM 295*FIE*
(Note:Not to be used on legal documents)
Date created:3/3/2023
Last Data Uploaded:3/3/2023 5:23.33 AM
Developed by ;0.4111 SCFIlleliCier
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