HomeMy Public PortalAbout1/08/1997 executiveCity of Greencastle
® City Hall
Four East Walnut Street
Greencastle, Indiana 46135
Pamela S. Jones
Clerk- Treasurer
GREENCASTLE COMMON COUNCIL
EXECUTIVE SESSION
WEDNESDAY, JANUARY 8,1997 4:15 PM PARTNERSHIP CENTER
The Greencastle Common Council met in Executive Session Wednesday, January 8, 1997, 4:15
p.m. at the Partnership Center. Mayor Michael called the meeting to order. On the Roll Call,
the following were found to be present: Councilor Roach, Councilor Green, Councilor Baynard
and Councilor Masten. Councilor Hammer was late due to a business meeting.
The purpose of this meeting is to discuss what the City is willing to offer for the potential
expansion of Crown.
Mayor Michael told the Council that she has had contact with the Department of Commerce and
they are still crunching numbers - comparing Indiana to Texas. If the City is willing to offer
Crown maximum tax abatement, the Department of Commerce will have no problem having an
answer by the January 15th deadline. Mayor Michael told the Council that a public meeting
does not have to be held for the State to make their offer. Mr. Dory can contact the State
relaying that the City has agreed to maximum abatement. Bill Dory stated that the City would
not want to make a public announcement and then Crown end up taking this project somewhere
else. Councilor Masten asked Mr. Dory to explain EDGE credits. Mr. Dory stated that the State
has discretion to offer up to 10 years of credit for up to J. 1% of actual payroll. This can amount
to approximately 58,400.00 credit per employee. This is a performance based credit, meaning
they have to pay out the payroll in order to get the credits. If the company accepts the EDGE
credits, part of the agreement is that the company must stay for 10 years after the tax abatement
runs out. Councilor Masten stated that he feels any increments should go to the General Fund
and not to TIF. Attorney Zeiner stated that any development in the redevelopment district will
go back to the Redevelopment Commission unless a letter is sent to the Auditor. The City
Attorney must send a letter to the Auditor stating what amount needs to be used for TIF projects
and any unused portion is used to lower assessment.
The Consensus of the Council is for Mr. Dory to notify the State that the City of Greencastle is
willing to offer maximum tax abatement for 10 years. Mr. Dory told the Council that Crown has
expressed interest in the Techno -Trim building and in the letter he will offer any maximum
abatement available on that building.
Being no further business, Councilor Roach made the motion to adjourn, seconded by Councilor
Green. Vote was unanimous.
Nancy A. chael, Mayor
AT S
Pamela S. Jones, Cle k -T e surer