HomeMy Public PortalAbout05 - 2021-5 - ECONOMIC REVITALIZATION - PHOENIX CLOSURES RESOLUTION NO. 2021 - 5
A RESOLUTION DECLARING AN ECONOMIC REVITALIZATION AREA
(PHOENIX CLOSURES, INC. -NEW EQUIPMENT)
WHEREAS,the Common Council of the City of Greencastle, Indiana,has determined that
it would be in the best interest of the citizens of Greencastle, Indiana, if such Common Council
defined and declared a certain area within such City as an economic revitalization area; and
WHEREAS, I.C. 6-1.1-12.1-1 to I.C. 6-1.1-12.1-2.5 defines the procedure for establishing
such an economic revitalization area; and
WHEREAS,the Common Council desires to make available to persons owning property in
such economic revitalization area the right to a deduction from the assessed value of property as
defined in I.C. 6-1.1-12.1-3 and a deduction for manufacturing equipment as defined in I.C.
6-1.1-12.1-4.5.
NOW THEREFORE BE IT RESOLVED by the Common Council of the City of
Greencastle, Indiana, as follows:
1. That this Common Council hereby declares by description the boundaries of the area to
be declared herein to be an economic revitalization area as follows:
Situated in the State of Indiana, County of Putnam and being a part of the West half
of the Northeast quarter of Section 29, Township 14 North, Range 4 West of the
Second Principal Meridian more particularly described to-wit:
Beginning at the Southwest corner of the West half of the Northeast quarter of
Section 29, Township 14 North, Range 4 West; thence North 1762 feet with the
West line of said Northeast quarter to the centerline of a paved county road; thence
Northeasterly 1494 feet with said centerline to the East line of the West half of said
Northeast quarter;thence leaving said centerline South 1327 feet with said East line
to the centerline of the Greencastle-Manhattan Road; thence Southwesterly 1236.4
feet with said centerline to the South line of said West half quarter; thence West
815.2 feet to the point of beginning containing 57 acres, more or less.
Also;
A part of the East half of the Northeast quarter of Section 29, Township 14 North,
Range 4 West of the Second Principal Meridian more particularly described to-wit:
Beginning at the point of intersection of the West line of the East half of the
Northeast quarter of Section 29, Township 14 North, Range 4 West and the
centerline of the Greencastle-Manhattan Road the said point of intersection being
1124 feet North of the Southwest corner of said East half; thence North 332 feet
+f,
with said West line to the South line of a 100 foot wide easement granted to the
Public Service Company of Indiana; thence South 72 degrees 28 minutes East 117
feet to the said West right-of-way line of the Monon Railroad; thence
Southwesterly 281 feet with the West right-of-way line to the centerline of the
aforesaid Manhattan Road;thence Southwesterly 30 feet with said centerline to the
point of beginning containing 0.45 of an acre, more or less.
Commonly known as 370 Manhattan Road. Deed Record 2005007519
2. That the above described real estate is deemed by the Common Council of the City of
Greencastle to be an economic revitalization area within the corporate limits of the City of
Greencastle, Indiana, which has become obsolete and not lending itself to normal development
because of the availability of other development ground within the City which is qualified for tax
abatement and because of a cessation or lack of growth in the general area which is anticipated to
lead to the deterioration of the area and continued stagnation of employment within the City of
Greencastle if said area is not utilized as an area to promote industrial expansion for the City of
Greencastle.
3. That in order to be competitive in retaining and attracting industrial prospects and
investment to the City of Greencastle, Indiana, it is imperative that such City offer to existing and
prospective industries locating in the above-described area tax abatement as allowed by law.
4. That the Common Council now RESOLVES that the above-designated area shall be
declared an economic revitalization area under the terms and provisions of I.C. 6-1.1-12.1-2.5.
5. That this Resolution shall be published pursuant to the provisions of I.C. 5-3-1 and a
copy of this Resolution shall be provided to the County Assessor's Office for inspection therein.
6. That after due publication, a public hearing shall be held at the time set forth in the
public notice notifying of the passage of this Resolution at which time,this Common Council shall
receive and hear all remonstrances and objections; determine whether or not the qualifications for
an economic revitalization area have been met; and take final action upon this Resolution.
PASSED AND RESOLVED by the Common Council of the City of Greencastle at its
regular meeting this 13th day of May 2021.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
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.pproved . ,; signed by me this 13th day of May 2021 at %Lo p.m. o'clock.
illiam A. Dory, Mayor
ATTEST:
yn R. Dunbar, Clerk- e