HomeMy Public PortalAbout1991-20RESOLUTION NO. 1991 -20
• RESOLUTION APPROVING STATEMENT OF BENEFITS
FOR HEARTLAND AUTOMOTIVE. INC.
WHEREAS, the Common Council of the City of Greencastle
on January 26, 1988, by Resolution No. 1988 -4 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 -1.5:
A part of the East half of the North East
quarter of Section 22, Township 14 North,
Range 4 West of the Second Principal Meridian
in Putnam County, State of Indiana, more
particularly described, to -wit: Beginning at
a point of the East line of the North East
quarter of Section 22, Township 14 North,
Range 4 West, which point is North 0 degrees
04 minutes West 618.02 feet of the South East
corner of the aforesaid Northeast quarter;
• thence South 89 degrees 56 minutes West
600.00 feet; thence North 0 degrees 04
minutes West 543.05 feet to the South right -
of -way line of the Penn - Central Railroad;
thence North 62 degrees 50 minutes East
347.55 feet with said South right -of -way
line; thence South 0 degrees 04 minutes East
150.00 feet; thence North 62 degrees 50
minutes East 326.40 feet to the East line of
said Section 22; thence South 0 degrees 04
minutes East 700.00 feet to the point of
beginning, containing 8.593 acres, more or
less.
ALSO, part of the Northeast Quarter of
Section 22, Township 14 North, Range 4 West,
described as follows:
Beginning at a point on the East line of said
quarter, which is 19.97 chains North of the
Southeast corner thereof; thence North 150
feet to the South right of way line of the
Pennsylvania Railroad; thence along said
right of way line South 62 -5/6 degrees West
326.4 feet; thence South 150 feet; thence
• North 62 -5/6 degrees East 326.4 feet to the
place of beginning, containing 1 acre, more
• or less.
Containing in all 9.593 acres, more or less.
and
WHEREAS, a copy of said Resolution was published to
I.C. 5 -3 -1, and after due publication, a public hearing was
held on March 8, 1988; and
WHEREAS, the Common Council of the City of Greencastle
on March 8, 1988, passed Resolution No. 1988 -10, "A
Resolution Confirming A Resolution Declaring an Economic
Revitalization Area passed by the Common Council of the City
of Greencastle, Indiana, on the 26th day of January, 1988 ".
WHEREAS, pursuant to I.C. 6 -1.1- 12.1 -4.5, Heartland
Automotive, Inc. on July 25, 1991, filed its Statement of
Benefits (Form SB -1), a copy of which is attached hereto as
Exhibit " A " ; and
WHEREAS, the Common Council of the City of Greencastle,
pursuant to I.C. 6- 1.1- 12.1 -4.5, has reviewed the Statement
of Benefits;
NOW, THEREFORE BE IT RESOLVED by the Common Council of
the City of Greencastle, Indiana, as follows:
1. That the estimate of the cost of the new
manufacturing equipment is reasonable for
equipment of that type.
2. That the estimate of the number of individuals who
will be employed or whose employment will be
• retained can be reasonably expected to result from
"
t h e i n s t a l l a t i o n o f t h e n e w m a n u f a c t u r i n g
e q u i 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 o r w h o s e
e m p l o y m e n t w i l l b e r e t a i n 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 i n s t a l l a t i o n
o f n e w m a n u f a c t u r i n g e q u i 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 i n s t a l l a t i o n
o f n e w m a n u f a c t u r i n g e q u i p m e n t .
5 . 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 a t 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 ,
L l
"
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 - 4 . 5 f o r H e a r t l a n d A u t o m o t i v e , I n c . a r e
h e r e b y a p p r o v e d f o r a f i v e ( 5 ) y e a r p e r i o d .
P A S S E D a n d R E S O L V E D t h i s 8 t h d a y o f O c t o b e r , 1 9 9 1 .
C O M M O N C O U N C I L O F T H E C I T Y
A p p r o v e d a n d s i g n e d b y m e t h i s 8 t h d a o f O c t o b e r ,
1 9 9 1 , a t o ' c l o c k , V n m . f
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M i c h a e l M . H a r m l e s s
M a y o r
A T T E S T :
J d i t h B e r r ,
e r k - T r e a s u r e r
R•^ 0
> STATEMENT OF aENEF
.._.., 1TS STATE BOARD OF TAX COYISS
MI0NEA3
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form SWI is orear[aed by Me Stage Beard of I" Conunsyonrs (199
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COMMON COUNCIL OF GREENCASTLE I�urgry P utnam
Nam. or Tuoarer
Heartlan Automotive, Inc.
Street, Greencast
.... or property i t alttar.n[ from boo..
SAME Tsang Olsnet
"" (Greencastle City I
"in anti Cosana[lon of raw prtibemy imararemmrl loo I or now mamuraclunnq pWamant to w aaaWreS
Production equipment to be used in manufacturing of auto parts $500000
Building improvements in auto parts plant 100 , 000
Esaunrec StuonO Out Esunate Comalemn Oat.
(Anarn aaaRtona/ sneeta it neaandl March 1, 1991 I February 28, 1992 1
.. ... ... - SECTION ItESTIMATEOF EMP'tOYEESANOJSAt=ESAS RE5=0EPROVOSED:PRGIE=�. - r- =.,....
Curren[ Numwr 1 $wanss I Numaer Ava,"ea Saranea Numar Ab Umaj Salaries
150 13,400,000 I 150 13,400,000 1 10 1 $200,000
I SECTION III ESTIMATE TOTAL COST ANO VALUE OF PROPOSED PROJECT
REAL ESTATE IMPROVEMENTS I MACHINEAY
COST I ASSESSED VALUE I COST jASSESSED VALUE
Currant Values $ I
Plus estimatoa values at proposed protect 100 0001 I 500 0001
Less: Values at any property being reatacea 0 1 1 0 1
Net esttmatbd values upon completion at proles 910 0001 1 9,600,0001
.....,.. :.::.SW-luum nFUTH M INFUM"AT16NtREaMUILA
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SlOnwurse ar Aut a}yralfre
1 1 neravy e.mN fnu me raans.ntsnona on mm safsmsnf w true. <_
G I _D C N— I Out of Idnaima i.uonan. numwr
?eceived this A 6 111 day of July, 1991. Clerk- Yreasurer
Judith Berry