HomeMy Public PortalAbout07-1992-7 /°"►. RESOLUTION NO. 1992-7
RESOLUTION APPROVING STATEMENT OF BENEFITS
FOR LOBDELL-EMERY MANUFACTURING COMPANY
WHEREAS, the Common Council of the City of Greencastle on
March 10, 1992, by Resolution No. 1992-4 declared the following
described real estate within the City as an economic
revitalization area under the terms and provisions of I.C. 6-1. 1-
12. 1-1. 5:
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.
WHEREAS, a copy of said Resolution was published to I.C. 5-
3-1, and after due publication, a public hearing was held on
April 14, 1992 ; and
WHEREAS, the Common Council of the City of Greencastle on
April 14, 1992, passed Resolution No. 1992-4 , "A Resolution
Confirming A Resolution Declaring an Economic Revitalization Area
passed by the Common Council of the City of Greencastle, Indiana,
on the 10th day of March, 1992" .
WHEREAS, pursuant to I.C. 6-1. 1-12 . 1-4 . 5, LOBDELL-EMERY
MANUFACTURING COMPANY on April 8, 1992, filed its Statement of
Benefits (Form SB-1) , a copy of which is attached hereto as
Exhibit "A" ; and
WHEREAS, the Common Council of the City of Greencastle,
pursuant to I.C. 6-1. 1-12 . 1-4 . 5, has reviewed the Statement of
Benefits;
NOW, THEREFORE BE IT RESOLVED by the Common Council of the
City of Greencastle, Indiana, as follows:
1. That the estimate of the cost of the new manufacturing
equipment is reasonable for equipment of that type.
2 . That the estimate of the number of individuals who will
be employed or whose employment will be retained can be
reasonably expected to result from the installation of
the new manufacturing equipment.
3 . That the estimate of the annual salaries of those
individuals who will be employed or whose employment
will be retained can be reasonably expected to result
from the proposed installation of new manufacturing
equipment.
4 . That any other benefits about which information was
requested are benefits that can be reasonably expected
to result from the proposed installation of new
manufacturing equipment.
5. That the totality of benefits is sufficient to justify
the deduction.
That the Common Council of the City of Greencastle,
Indiana, further RESOLVES that the deductions pursuant to I.C. 6-
1. 1-12 . 1-4. 5 for LOBDELL-EMERY MANUFACTURING COMPANY are hereby
approved for a five (5) year period.
PASSED and RESOLVED this 14th day of April, 1992 .
COMMON COUNCIL OF THE CITY
OF GREENCASTLE, INDIANA
/2//7,,_ (
Thomas W. Roach Susan V. Murray
Crer ld D. Calbert chael W. Ro icki
Z &6.f-•/
Charles T. Mile
A proved and signed by me this 14th day of April, 1992 , at
/10' 2?p o ' clock, g2..m.
M 'chael M. Harmless
ATTEST: Mayor
00\
u ith Berr ,
C erk-Treasurer
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