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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 2. 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: \_ flit. M.QW-4)1.1- J eith Berry, C k-Treasurer • 3.