HomeMy Public PortalAbout1994-21O RESOLUTION NO. 1994-21
RESOLUTION APPROVING STATEMENT OF BENEFITS
FOR WAL -MART STORES, INC.
WHEREAS, the Common Council of the City of Greencastle on
August 21, 1990, by Resolution No. 1990 -12, declared the
following described real estate within the City as an economic
revitalization area under the terms and provisions of I.C. 6 -1.1-
12.1:
Situate in the State of Indiana, County of Putnam and
being a part of the West half of Section 23, Township
14 North, Range 4 West; thence North 00 degrees 27
minutes East 1729.52 feet with the West line of said
Section 23 and to the true point of beginning of the
real estate herein described; thence North 00 degrees
27 minutes East 2132.92 feet with the West line of said
Section 23; thence South 89 degrees 33 minutes East
20.00 feet to the East right -of -way of 10th Street;
• thence with the right -of -way of the proposed Southern
Highway, North 08 degrees 59 minutes East 101.12 feet;
thence North 00 degrees 27 minutes East 24.97 feet;
thence leaving the right -of -way of said Southern
Highway, South 89 degrees 25 minutes East 259.84 feet;
thence North 05 degrees 34 minutes West 265.95 feet to
the South right -of -way of the aforesaid Southern
Highway; thence with said Southern right -of -way, North
63 degrees 18 minutes East 148.02 feet; thence North 64
degrees 16 minutes East 300.04 feet; thence North 59
degrees 30 minutes East 300.67 feet; thence North 63
degrees 18 minutes East 300.00 feet; thence North 69
degrees O1 minute East 100.50 feet; thence North 57
degrees 49 minutes East 104.46 feet; thence North 63
degrees 18 minutes East 581.33 feet; thence leaving the
Southern right -of -way of said Southern Highway, thence
South 00 degrees 53 minutes West 3378.02 feet; thence
North 89 degrees 21 minutes West 1866.13 feet to the
point of beginning, containing 122.77 acres, more or
less.
and, WHEREAS, a copy of said Resolution was published pursuant to
I.C. 5 -3 -1, and after due publication, a public hearing was held
® on September 25, 1990; and
WHEREAS, the Common Council of the City of Greencastle on
" S e p t e m b e r 2 5 , 1 9 9 0 , p a s s e d R e s o l u t i o n N o . 1 9 9 0 - 1 4 , " A R e s o l u t i o n
C o n f i r m i n g A R e s o l u t i o n D e c l a r i n g a n E c o n o m i c R e v i t a l i z a t i o n A r e a
p a s s e d b y t h e C o m m o n C o u n c i l o f t h e C i t y o f G r e e n c a s t l e , I n d i a n a ,
o n t h e 2 1 s t d a y o f A u g u s t , 1 9 9 0 "
W H E R E A S , p u r s u a n t t o I . C . 6 - 1 . 1 - 1 2 . 1 - 3 , W a l - M a r t S t o r e s ,
I n c . o n O c t o b e r 1 8 , 1 9 9 4 , f i l e d i t s S t a t e m e n t o f B e n e f i t s ( F o r m
S B - 1 ) , a c o p y o f w h i c h i s a t t a c h e d h e r e t o a s E x h i b i t " a n d
W H E R E A S , t h e C o m m o n C o u n c i l o f t h e C i t y o f G r e e n c a s t l e ,
p u r s u a n t t o I . C . 6 - 1 . 1 - 1 2 . 1 - 3 , h a s r e v i e w e d t h e S t a t e m e n t o f
B e n e f i t s ;
N O W , T H E R E F O R E B E I T R E S O L V E D b y t h e C o m m o n C o u n c i l o f t h e
C i t y o f G r e e n c a s t l e , I n d i a n a , a s f o l l o w s :
� 1 . T h a t t h e e s t i m a t e o f v a l u e o f t h e r e d e v e l o p m e n t i s
r e a s o n a b l e f o r p r o j e c t s o f t h a t n a t u r e .
2 . T h a t t h e e s t i m a t e o f t h e n u m b e r o f i n d i v i d u a l s w h o w i l l
b e e m p l o y e d c a n b e r e a s o n a b l y e x p e c t e d t o r e s u l t f r o m
t h e p r o p o s e d d e s c r i b e d r e d e v e l o p m e n t .
3 . T h a t t h e e s t i m a t e o f t h e a n n u a l s a l a r i e s o f t h o s e
i n d i v i d u a l s w h o w i l l b e e m p l o y e d c a n b e r e a s o n a b l y
e x p e c t e d t o r e s u l t f r o m t h e p r o p o s e d d e s c r i b e d
r e d e v e l o p m e n t .
4 . T h a t a n y o t h e r b e n e f i t s a b o u t w h i c h i n f o r m a t i o n w a s
r e q u e s t e d a r e b e n e f i t s t h a t c a n b e r e a s o n a b l y e x p e c t e d
t o r e s u l t f r o m t h e p r o p o s e d d e s c r i b e d r e d e v e l o p m e n t .
S . T h a t t h e t o t a l i t y o f b e n e f i t s i s s u f f i c i e n t t o j u s t i f y
t h e d e d u c t i o n .
T h e C o m m o n C o u n c i l o f t h e C i t y o f G r e e n c a s t l e , I n d i a n a ,
f u r t h e r R E S O L V E S t h a t t h e d e d u c t i o n s p u r s u a n t t o I . C . 6 - 1 . 1 - 1 2 . 1 -
3 f o r W a l - M a r t S t o r e s , I n c . a r e h e r e b y a p p r o v e d f o r / C y e a r s .
P A S S E D a n d R E S O L V E D t h i s ���� d a y o f O c t o b e r , 1 9 9 4 .
COMMON COUNCIL OF THE CITY
OF GREENCASTLE, INDIANA
Thomas W. Roach
d D. Calbert
Charles T. Miles
a l'1112""a.'� Susan V. Murray
Michael W. Rokicki
C � Approved and signed by me this (day of October, 1994 at
•
o clock 6- ".
ATTEST:
th Berry,
z /"�z
Michael fA. Harmles , Mayor
- Treasurer
E
STATEMENT OF BENEFITS QeLzwt�0 L' Q=Ir 1811994 FORM
• '� State Form 27167(R3 /11 -91) { /4r
/' from SS - 1 is prescnbed by the Stale Board of Tae Commissioners. 1989 1 _I SB _ 1
•�'� The records in this series are CONFIDENTIAL according to IC 6- 1.1 -35 -9
.."S i.RUC TIONS:
O iatement must be submitted to the body designating the economic revitalization area prior to the public hearing it the designating body requires intor-
n from the applicant in making its decision about whether to designate an Economic Revitilization Area. Otherwise this statement must be submitted
to 1e designating body BEFORE a person installs the new manufacturing equipment. or BEFORE the redevelopment or rehabilitation of real property for
which the person wishes to claim a deduction. A statement of benefits is not required it the area was designated an ERA prior to July 1, 1987 and the
"arojecl' was planned and committed to by the applicant, and approved by the designating body, prior to that date. - Projects - planned or committed to after
July 1, 1987 and areas designated aher July 1, 1987 require a STATEMENT OF BENEFITS. (IC 6 -1.1 -12.1)
°. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to initiation of the redevelopment or rehabilitation,
or prior to installation of the new manufacturing equipment. BEFORE a deduction may be approved.
3. To obtain a deduction, Form 322 ERA, Real Estate Improvements and / or Form 322 ERA / PP, New Machinery, must be tiled with the county auditor. With
respect to real property, Form 322 ERA must be filed by the later of. (I) May 10; or (2) thirty (30) days after a notice of inaease in real property assessment
is received from the township assessor. Form 322 ERA / PP must be tiled between March 1 and May 15 of the assessment year in which new manufac-
turing equipment is installed, unless a filing extension has been obtained. A person who obtains a filing extension must file the form between March 1 and
June 14 of!hat year.
a. Property owners whose Statement of Benefits was approved alter July 1, 1991 must submit Form CF - 1 annually to show compliance with the Statement of
Benefits. (1(364A-12.1-5.6)
of taxpayer
taxpayer (street and number, dry, state and
7oz s w. 11 Tc,Ly- +oov I i le AR. z7-7j6 - Soi 3
Name of contact person / Telephone number
TM Van Zal , 1+ 1 (501 977-11
Name of designating body
Location of property
of real property improvements and / or new manufacturing equipment to be acquired (use additional
expo-kl:Sio rl 4
Wlli tCW1CL4n
Current number
Cost
Assessed Value
Resolution number
1990 -1
Taxing district
Estimated starting date
date
• +i
Assessed Value
Current values y.7 05t:7 / "I 1 lob lovr� t r Gat ! I fv row
Plus estimated values of proposed project ,oZt?6 OOO i QOO. bco
Less values of any property being replaced
Net estimated values upon completion of project 1 5x.259.8 1 1 1 G, 5to I I "I
The e'YPCLA5100 1x.. al /ow cis `ho ✓VIG iwfzzio a v44r t:-A Hlyher /eve.( Of' Sevviee
anG� IN dolvlg yo heaps YNeaf�r•y13� a Var(ab/ %rfrT - fAe' 5 5 i ht5 lr(l h21
+ke, Io:19 4f0- , t V, a6 1 y c n 4Ae- CeA+f-r
4 . r.:.. z .. .E'S2'.I1;:TAXPAYER ,CERTIFICATION '»T''x ��'. •` +>
> >z 1 �E',: ..ic ..e, ),h > °. ': ^: Via"+'`
�Ve;xerf w.l( Cci'Kt5'+'� a9o,�square�rr(
e:cr9�-1n, dLs ( CzoTl�r - rl,'�a,c�CCrtsic,,,
�+1onc.l Sfo.- ayeatolP�xesslNg s�cc�
We have reviewed our prior actions relatino to the designation of this economic revitalization area and find that the applicant meets the
general standards adopted in the resolution previously approved by this body. Said resolution, passed under IC 6- 1.1- 12.1 -2.5, pro- '
vides for the following limitations as authorized under IC 6 -1.1- 12.1 -2.
A. The designated area has be n limited to a period of time not to exceed 1 1 / calendar years ' (see below). The date this
T �
designation expires is M DK
B. The type of deduction that is Illowed in the designated area is limited to:
1. Redevelopment or rehabilitation of real estate improvements; ❑ Yes ❑ No
2. Installation of new manufacturing equipment, ❑ Yes CA No
3. Residentially distressed areas ❑ Yes FJ No
C. The amount of deduction applicable for new manufacturing equipment installed and first claimed eligible for deduction after July 1,
1987, is limited to $ cost with an assessed value of $
D. The amount of deduction applicable to redevelopment or rehabilitation in an area designated after September 1, 1988 is limited to
$ cost with an assessed value of $
E. Other limitations or conditions (specify)
F. The deduction for new manufacturing equipment installed and first claimed eligible for deduction after July 1, 1991 is allowed for:
❑ 5 years ❑ 10 years
Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reason-
able and have determined that the totality of benefits is sufficient to justify the deduction described above.
Approvayfsignature and title of authorized member
Telephone number
(rrionOh, day, year)
6th
34%
FDate
Arrested by:
Designated body
' If the designating body limits the time period during which an area is an economic revitilization area, it does not limit the length of time '
a taxpayer is entitled to receive a deduction to a number of years designated under IC 6 -1.1 -12.1-4 or 4.5 Namely: (see tables below)
If
Year of
!eduction
RFnpvFi ••
OF REAL PROP
For Deductions 411ovited
Three (3) Year
Deduction
IMPROVEMENT
over A Period Of::
Six (6) Year
Deduction
Deductions
Year of
Deduction
r r -I •r
Over
Five (5) Year
Percentage
0 1:
Ten (10) Year
Percentage
1st
100
100%
2nd
95%
95%
3rd
80%
90%
4th
65%
85%
5th
50%
80%
6th
34%
70%
7th
55%
8th
7th
40%
9th
30'/0
30%
10th
25%
Year of
!eduction
RFnpvFi ••
OF REAL PROP
For Deductions 411ovited
Three (3) Year
Deduction
IMPROVEMENT
over A Period Of::
Six (6) Year
Deduction
Ten (10) Year
Deduction
1st
100%
100%
100%
2nd
66%
85%
95%
3rd
33%
66%
80%
4th
50%
65%
5th
34%
50
6th
17%
40%
7th
30'/0
8th
20%
9th
10%
10th
5%
0