HomeMy Public PortalAbout04-1992-4 RESOLUTION NO. 1992-4
411 A RESOLUTION DECLARING AN ECONOMIC REVITALIZATION AREA
PASSED BY THE COMMON COUNCIL OF THE
CITY OF GREENCASTLE, INDIANA
LOBDELL-EMERY MANUFACTURING COMPANY
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 manufacturing equipment for a five
(5) year period 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 1752 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 of 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:
Situated in the State of Indiana, County of Putnam and being
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 with said West line of the South
line of a 100 feet 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 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.
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 are 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 existing
industries within the City of Greencastle, Indiana, it is imperative
that such City offer to existing industries expanding 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 THIS 10TH DAY OF MARCH, 1992 .
COMMON COUNCIL OF THE CITY
OF GREENCASTLE, INDIANA
Thomas W. Roach Susan V. Murray
J-ez ld D. Calbert Charles T. Miles
;r1441.-Egligge-- •
ichael W. Rokicki
Approved and signed by me this 10th day of March, 1992, at
/l:U o'clock, (yL.m. z/: /////7/////
Michael M. Harmless,
Mayor
ATTEST:
ud'th Berty, (�
C rk-Treasurer
•
faro