HomeMy Public PortalAbout04-1988-4 RESOLUTION NO. 1988-4
Low 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, the Common Council of the City of Greencastle,
Indiana, has determined that it would be in the best interests 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 new manufactur-
ing 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:
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 on 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 North-
east 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.
4111 ALSO, part of the Northeast Quarter of Section 22,
Township 14 North, Range 4 West, described as follows:
1.
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
Low 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.
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 attracting new
industrial prospects to the City of Greencastle, Indiana, it is
imperative that such City offer to prospective new industries
locating in the above-described area maximum tax abatement as
allowed by law.
4. That the Common Council now RESOLVES that the
above-designated area shall be declared an economic revi-
talization area under the terms and provision 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; deter-
mine whether or not the qualifications for an economic
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revitalization area have been met; and take final action upon
this Resolution.
PASSED AND RESOLVED BY THE COMMON COUNCIL OF THE CITY OF
GREENCASTLE THIS 26th DAY OF JANUARY, 1988.
COMMON COUNCIL OF THE CITY
OF GREENCASTLE, INDIANA
1f_ 2. erer--e-L.
S r Z. Roach
Tim Conway
c
Susan V. Murray
R bert P. Sedlack
WaelrZi.11—
W. Ro eck
III
qq Approved and signed by me this 26 day of ✓ ilk 2, 1988, at
/• 1° o'clock, 1' .m.
Z4:: /.///"2-/:(1_
Michael M. Harmless,
Mayor
ATTEST:
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M.QW-4)1.1-
J eith Berry,
C k-Treasurer
•
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