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HomeMy Public PortalAbout10-1988-10 RESOLUTION NO. 1988- 1 A RESOLUTION CONFIRMING A RESOLUTION DECLARING AN ECONOMIC REVITALIZATION AREA PASSED BY THE COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA ON THE 8TH DAY OF DECEMBER, 1987. WHEREAS, the Common Council of the City of Greencastle, Indiana, did on the 8th day of December, 1987, pass a Resolution declaring an economic revitalization area; and WHEREAS, the Common Council did, pursuant to I.C. 6-1.1-12.1-2.5 (c) publish notice of the adoption and passage of i such Resolution and notice of the fact that the same would come on for public hearing at the January meeting of the Common Council on January 12, 1988, at 7:30 o'clock, p.m. in the City Building in Greencastle, Indiana; and 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. 6-1.1-12.1-6 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 tract of land located in part of the Northeast Quarter (NE}) and part of the Southeast Quarter (SE}) of Section 22, Township 14 North, Range 4 West, more particularly described as follows: Beginning at the Northwest corner of the Southeast Quarter (SEj) of Section 22, Township 14 North, Range 4 West; thence South along the West line of said quarter section to the Southwest corner of 30 acres off the North end of the West half (Wi) of the Southeast Quarter (SE}) of said Section 22; thence East along the 1. South line of said 30 acre tract to the Southeast corner thereof; thence North along the East line of said half quarter section for a distance of nine hundred ninety-five (995) feet to a point; thence South 70 East one hvdred thirty (130) feet to a point; thence North 30o East sixty (60) feet to a point; thence South 60 East for a distance of four hundred seventy (470) feet to the point of curve of a curve to the left having a radius of three hundred seventy-five (375) feet; said point being eight hundred (800) feet West of the East line of the Southeast Quarter (SE}) of said Section 22; thence continuing along said curve to a point six hundred (600) feet West and four hundred one and ninety-eight hundredths (401.98) feet South of the Northeast corner of the Southeast Quarter (SE}) of said Section 22; thence North 00°04' West, six hundred (600) feet West of and parallel to the East line of said Section 22, for a distance of one thousand five hundred sixty-three and five hundredths (1563.05) feet to a point on the South right-of-way line of the Pittsburg, Cincinnati, Chicago & St. Louis Railroad Company; thence South 62°50' West along said South right-of-way line to the West line of the Northeast Quarter (NEI) of said Section; thence South along said West line to the place of beginning, and containing in said tract of land 62.6 acres, more or less. Subject to all legal rights-of-way. 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 /.."N itself to normal development because of the availability of other development ground within the City which is qualified for tax abatement and for the further reason that this ground has be- longed to the City of Greencastle for a number of years and there has been little or no interest shown in the use of the ground for development by any entities willing to provides substantial employment opportunities in the City of Greencastle 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 con- tinued stagnation of employment in the area if not utilizied 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. 2. 4. That the Common Council now RESOLVES that the above-designated area shall be declared an economic revi- talization area under the terms and provisions of I.C. 6-1.1-12.1-2.5 PASSED and RESOLVED this )2. day of T40417 , 1988. COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA She i Z. Roach im Conway C. _ s.�l )' Susan V. Murray Rob rt P. edlack to."•. nhi,j/e O(/ Mic ael W. Ro icki Approved and signed by me this IL day of 1A4 1988, at ID.?. o'clock, P .m. ichael M. Harmless, Mayor ATTEST: u ith A. Berry, 0 erk-Treasurer 3. 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, the Common Council of the City of Greencastle, Indiana, did on the 26th day of January, 1988, pass a Resolution declaring an economic revitalization area; and WHEREAS, the Common Council did, pursuant to I.C. 6-1.1-12.1-2.5 (c) publish notice of the adoption and passage of such Resolution and notice of the fact that the same would come on for public hearing at the January meeting of the Common Council on March 8, 1988, at 7:30 o'clock, p.m. in the City Building in Greencastle, Indiana; and 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. 6-1.1-12.1-6 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 1. 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 �-W 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. 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 in the area if not utilizied 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 provisions of I.C. 6-1.1-12.1-2.5 2. PASSED and RESOLVED this 8th day of March, 1988. COMMON COUNCIL OF THE CITY "/"-N, OF GREENCASTLE, INDIANA , L. --. Sheri Z. Roach Tim Conway CS w�` 7-NN(-1\tiJJ1• Susan V. Murray '-k--- ��-ems Rob V t P. Sedlack 4-( .4d)At', -22- Michael W. Rokicki Approved and signed by me this 8th day of March, 1988, at I0:3) o'clock, F' .m. /X. -- — Michael M. Harmless, Mayor ATTEST: 44,,:t./, 42,.„ J dith Berry, U erk-Treasurer 3. RESOLUTION NO. 1988 - 3 A RESOLUTION APPROVING TERMS AND CONDITIONS OF LOAN AGREEMENT BETWEEN CITY OF GREENCASTLE AND TECHNO-TRIM, INC. WHEREAS, the Housing and Community Development Act of 1974, Public Law No. 93-383, as amended, provides in Section 103 thereof for the establishment of a community Development Block Grant Program; and WHEREAS, the State of Indiana has established such a program and has provided for Investment Incentive Assistance Grants to be administered by the Director of the State of Indiana Department of Commerce; and WHEREAS, the act authorizes and empowers the City of Greencastle to make loans for the purpose of financing the cost of acquisition of certain industrial facilities; and WHEREAS, pursuant to the provision of the Act and to relevant statutes and regulations of the State of Indiana, the City of Greencastle has agreed to make a loan to Techno-Trim, Inc. for the purpose of financing the cost of acquisition of certain capital equipment to be used by the Company at its manufacturing facility located at Fillmore Road - Greencastle, Indiana; and WHEREAS, the City of Greencastle proposes to make such loan from the proceeds of Investment Incentive Grant No. II-86-009 from the State of Indiana, Department of Commerce pursuant to a Grant agreement dated as of December 2, 1987, between State of Indiana and the City of Greencastle; and WHEREAS, said loan in the amount of Two Hundred Thousand Dollars ($200,000.00) will be evidenced by a Loan Agreement, a Promissory Note issued pursuant to the Loan Agreement, and will be secured by a Security Agreement between Techno-Trim, Inc. and the City of Greencastle, which said documents have been submitted to the Common Council for approval. NOW THEREFORE, BE IT RESOLVED, by the Common Council of the City of Greencastle that the terms and conditions set forth in the Loan Agreement, Promissory Note, and Security Agreement 1. between Techno-Trim, Inc. and the City of Greencastle are hereby approved and that Mayor Michael M. Harmless and Clerk-Treasurer Judith A. Berry are hereby authorized to act as signatories upon said Loan Agreement and Security Agreement. t.r.r PASSED AND RESOLVED BY THE COMMON COUNCIL OF THE CITY OF GREENCASTLE THIS /1 DAY OF Tl _ , 1988. COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA l/ 2 rtir � S r koach ' _,-Ti::7, ---- iX Conway Susan V. Murray IoR rt P.Tdlack G/J11,a,e.1201/1/ (9);ArIli- ,, ael W. Rokicki Approved and signed by me this /L day of 6onn,4, 1988, at 6, yr o'clock, r.m. Z ----- Michael M. Harmless, Mayor ATTEST: % ith A. Berry, P erk-Treasurer /.\ 2. RESOLUTION NO. 1988- 1 A RESOLUTION CONFIRMING A RESOLUTION DECLARING AN ECONOMIC REVITALIZATION AREA PASSED BY THE COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA ON THE 8TH DAY OF DECEMBER, 1987. WHEREAS, the Common Council of the City of Greencastle, Indiana, did on the 8th day of December, 1987, pass a Resolution declaring an economic revitalization area; and WHEREAS, the Common Council did, pursuant to I.C. 6-1.1-12.1-2.5 (c) publish notice of the adoption and passage of i such Resolution and notice of the fact that the same would come on for public hearing at the January meeting of the Common Council on January 12, 1988, at 7:30 o'clock, p.m. in the City Building in Greencastle, Indiana; and 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. 6-1.1-12.1-6 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 tract of land located in part of the Northeast Quarter (NE}) and part of the Southeast Quarter (SE}) of Section 22, Township 14 North, Range 4 West, more particularly described as follows: Beginning at the Northwest corner of the Southeast Quarter (SEj) of Section 22, Township 14 North, Range 4 West; thence South along the West line of said quarter section to the Southwest corner of 30 acres off the North end of the West half (Wi) of the Southeast Quarter (SE}) of said Section 22; thence East along the 1. South line of said 30 acre tract to the Southeast corner thereof; thence North along the East line of said half quarter section for a distance of nine hundred ninety-five (995) feet to a point; thence South 70 East one hvdred thirty (130) feet to a point; thence North 30o East sixty (60) feet to a point; thence South 60 East for a distance of four hundred seventy (470) feet to the point of curve of a curve to the left having a radius of three hundred seventy-five (375) feet; said point being eight hundred (800) feet West of the East line of the Southeast Quarter (SE}) of said Section 22; thence continuing along said curve to a point six hundred (600) feet West and four hundred one and ninety-eight hundredths (401.98) feet South of the Northeast corner of the Southeast Quarter (SE}) of said Section 22; thence North 00°04' West, six hundred (600) feet West of and parallel to the East line of said Section 22, for a distance of one thousand five hundred sixty-three and five hundredths (1563.05) feet to a point on the South right-of-way line of the Pittsburg, Cincinnati, Chicago & St. Louis Railroad Company; thence South 62°50' West along said South right-of-way line to the West line of the Northeast Quarter (NEI) of said Section; thence South along said West line to the place of beginning, and containing in said tract of land 62.6 acres, more or less. Subject to all legal rights-of-way. 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 /.."N itself to normal development because of the availability of other development ground within the City which is qualified for tax abatement and for the further reason that this ground has be- longed to the City of Greencastle for a number of years and there has been little or no interest shown in the use of the ground for development by any entities willing to provides substantial employment opportunities in the City of Greencastle 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 con- tinued stagnation of employment in the area if not utilizied 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. 2. 4. That the Common Council now RESOLVES that the above-designated area shall be declared an economic revi- talization area under the terms and provisions of I.C. 6-1.1-12.1-2.5 PASSED and RESOLVED this )2. day of T40417 , 1988. COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA She i Z. Roach im Conway C. _ s.�l )' Susan V. Murray Rob rt P. edlack to."•. nhi,j/e O(/ Mic ael W. Ro icki Approved and signed by me this IL day of 1A4 1988, at ID.?. o'clock, P .m. ichael M. Harmless, Mayor ATTEST: u ith A. Berry, 0 erk-Treasurer 3.