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HomeMy Public PortalAbout19-1988-23 RESOLUTION NO. 1988-23 A RESOLUTION DECLARING AN ECONOMIC REVITALIZATION AREA PASSED BY THE COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA ON THE 10TH DAY OF MAY, 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: Tract I: Sherwin-Williams Situate in the State of Indiana, County of Putnam and being a part of the West half of the Northeast quarter and the East half of the Northwest quarter of Section 24, Township 14 North, Range 4 West of the Second Principal Meridian, more particularly described, to-wit: Commencing at the Northwest corner of Section 24, Township 14 North, Range 4 West; thence South 88 degrees 10 minutes East 3840.10 feet with the North line of said Section 24 to the Northeast corner of the West half of the Northeast quarter; thence South 00 degrees 19 minutes West 469.67 feet with the East line of said West half quarter to an iron pin on the South right-of-way line of Indiana State Road #240 and the true point of beginning of the real estate herein described; thence South 00 degrees 19 minutes West 694.04 feet with said East line; thence with a fence line and the easterly extension thereof, North 83 degrees 33 minutes West 503.48 feet to a wood post; thence North 77 degrees 56 minutes West 467.33 feet to /1, a steel post; thence North 77 degrees 30 minutes West 370.24 feet to an iron pin; thence leaving the 1. aforesaid fence line, North 00 degrees 19 minutes East 755.97 feet to an iron pin on the South right-of-way line of Indiana State Road #240; thence with said South right-of-way line, South 76 degrees 42 minutes 00 seconds East 203.37 feet to an iron pin; thence Southeasterly 502.96 feet on a curve to the left having a radius of 43086.85 feet and subtended by a long chord bearing South 77 degrees 02 minutes 04 seconds East a distance of 502.96 feet to an iron pin; thence South 71 degrees 42 minutes 25 seconds East 50.39 feet to an iron pin; thence Southeasterly 150.42 feet on a curve to the left having a radius of 43091.85 feet and subtended by a long chord bearing South 77 degrees 32 minutes 08 seconds East a distance of 150.42 feet to an iron pin; thence South 83 degrees 21 minutes 50 seconds East 50.39 feet to an iron pin; thence South 77 degrees 54 minutes 55 seconds East 394.34 feet to an iron pin and the point of beginning containing 22.36 acres, more or less. Subject to existing county road right-of-way and all pertinent easements of record. Tract II: H.A. Parts Products of Indiana Co. Situate in the State of Indiana, County of Putnam and being a part of the Northwest quarter, Section 24, Township 14 North, Range 4 West of the Second Principal Meridian, more particularly described to-wit: Commencing at the Northwest corner of Section 24, Township 14 North, Range 4 West; thence South 00 degrees 52 minutes West 90.11 feet with the West line of said Section 24 to the South right-of-way line of Indiana State Road #240; thence with said South right-of-way line Southeasterly 329.70 feet on a curve to the right having a radius of 28532.90 feet and /-\ subtended by a long chord bearing South 88 degrees 16 minutes 36 seconds East a distance of 329.70 feet to an iron pin and the true point of beginning of the real estate herein described; thence continuing with said South right-of-way Southeasterly 279.11 feet on a curve to the right having a radius of 28532.90 feet and subtended by a long chord bearing South 87 degrees 39 minutes 49 seconds East a distance of 279.11 feet to an iron pin; thence South 87 degrees 23 minutes 00 seconds East 799.76 feet to a concrete right-of-way monument; thence South 81 degrees 40 minutes 22 seconds East 50.25 feet to an iron pin; thence South 87 degrees 23 minutes 00 seconds East 100.00 feet to an iron pin; thence North 86 degrees 53 minutes 53 seconds East 28.21 feet to an iron pin; thence leaving the South right-of-way line of the aforesaid Indiana State Road 240 South 00 degrees 18 minutes 00 seconds West 618.97 feet to an iron pin; thence North 89 degrees 42 minutes 00 seconds West 1267.27 feet to an iron pin; thence North 01 degree 16 minutes 25 seconds East 670.70 feet with an established property fence line to the point of beginning, containing 18.71 acres, more or less. Subject to all rights-of-way and pertinent easements of record. 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 2. 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 /".4N, 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 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; deter- mine 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 THIS 10th DAY OF MAY, 1988. COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA /ite >• Sheri Z. Roach Tim Conway Susan V. Murray Robert P. Sedlack MiOrYAr.:44,&01/ nLA....,ael W. Rokicki Approved and signed by me this 10 h day of May, 1988, at JD.'/b o'clock, .m. Michael M. Harmless, Mayor TTEST: Ju ith Berry, 1 �v Cl rk-Treasurer /'1 3.