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Home My Public Portal About19-1995-20 RESOLUTION NO. 1995-20 `` °pp-- A RESOLUTION REAFFIRMING RESOLUTION 1995-19 AND DECLARING AN ECONOMIC REVITALIZATION AREA AND RECOMMENDED TAX DEDUCTION WHEREAS, the laws of the State of Indiana, specifically I.C. 6-1.1-12.1-1, et. seq., provide for the creation of economic revitalization areas within the corporate limits of the City of Greencastle, Putnam County, Indiana, for the general purpose of providing property tax deductions to encourage private redevelopment of areas which have become undesirable for, or impossible of, normal development and occupancy because of a lack of development, cessation of growth, deterioration of improvements or character of occupancy, age, obsolescence, substandard buildings or other factors which have impaired values or prevent normal development of property or use of property; and WHEREAS, the term "economic revitalization area" also includes any area where a facility or a group of facilities that are technologically, economically or energy obsolete are located and where the obsolescence may lead to the decline in employment and tax revenue; and WHEREAS, "redevelopment" means the construction of new structures in economic revitalization areas either on unimproved real estate or on real estate upon which a prior existing structure is demolished to allow for new construction; and WHEREAS, "rehabilitation" means remodeling, repair or betterment of property in any manner or any enlargement or extension of property; and WHEREAS, pursuant to applicable laws of the State of Indiana, Greencastle City Council may create said economic revitalization area through the adoption of a resolution; and WHEREAS, the need exists to establish an economic revitalization area in order to encourage private redevelopment in the City of Greencastle, Putnam County, Indiana; and • WHEREAS, Crown Equipment Corporation, Inc. has planned redevelopment and rehabilitation to the existing (formerly Sherwin Williams, now Crown) site which will include a modification of existing structures to accommodate manufacturing equipment, including building modifications value at up to S4,000,000 and the addition of manufacturing equipment of a value up to $15,000,000. Crown Equipment Corporation believes the additional improvements will increase employment by approximately 254 jobs. Crown Equipment Corporation, Inc. seeks a tax deduction pursuant to I.C. 6-1.1-12.1, et. seq.; and WHEREAS, a Statement of Benefits on State Form 27167, [Form SB-11 said form approved by the State Board of Tax Commissioners, have been submitted to the Greencastle City Council on October 10, 1995, prior to redevelopment or rehabilitation and installation of new manufacturing equipment on such real estate by Crown Equipment Corporation, Inc. and that such Statement of Benefits is attached hereto and marked "Exhibit A"; and WHEREAS, the Greencastle City Council passed Resolution 1995-19 on October 10, 1995, and advertised a public hearing for October 24, 1995; and WHEREAS, Greencastle City Council, pursuant to the laws of the State of Indiana, does now hereby find that: 1. The estimate of the value of the redevelopment or rehabilitation and new manufacturing equipment is reasonable for projects of that nature; 2. 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 proposed described redevelopment or rehabilitation and installation of new manufacturing equipment; 3. The estimate of the annual salaries of those individuals who will be employed or whose employment will be retained can reasonably be expected to result from the proposed described redevelopment or rehabilitation and 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 described redevelopment or rehabilitation and installation of new manufacturing equipment. 5. The totality of the benefits is sufficient to justify a deduction; and THEREFORE, based upon these findings BE IT RESOLVED THAT THE CITY OF GREENCASTLE on this 24th day of October, 1995, pursuant to I.C. 6-1.1-12.1-1, et. seq., deems there to be a need to establish an economic revitalization area and that said economic revitalization area shall be defined as follows: 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 a steel post; thence North 77 degrees 30 minutes West 370.24 feet to an iron pin; thence leaving the 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. More generally described as the Crown area (formerly Sherwin Williams) on the South Side of Indiana Highway 240, at its Southeast intersection with County Road 250 East, Greencastle Township, Putnam County, Indiana. THEREFORE, the Greencastle City Council does recommend a deduction for a period of ten years as a result of the increase in assessed value resulting from the redevelopment or rehabilitation of the improvements and a deduction for a period of ten years as a result of the installation of new manufacturing equipment. PASSED AND RESOLVED by the Common Council of the City of Greencastle at its special meeting this 24th day of October, 1995. COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA • Thomas W. oach Susan V. Murray i M t'k N. Hammer Michael W. Rokicki C6 / / ?� i ,14-Ct--2 / Charles T. Miles Approved and signed by me this ,,94 day of (0c kk- , 199C-it 7 o'clock ,J .m. ATTEST: Michael M. Harmless, Mayor Donald L. Weaver, Clerk-Treasurer ' 6r\b\Crovn•20.ra - - ' ."- I. STATEMENT OF BENEFITS r':rtl • �� _ State Form 27167(R4 i 10-93) r7, Form SB-I is prescribed by the State Board of Tax Commissioners.1989 •. UCTIONS: . ,statement must be submitted to the body designating the economic revitilization area prior to the public hearing if the designating body requires infor .;ion from the applicant in making its decision about whether to designate an Economic Revitilization Area. Otherwise this statement must be submittec to the designating body BEFORE a person installs the new manufacturing equipment, or BEFORE the redevelopment or rehabilitation of real property foi which the person wishes to claim a deduction. A statement of benefits is not required it the area was designated an ERA prior to July 1, 1987 and the "project"was planned and committed to by the applicant. and approved by the designating body, prior to that date. "Projects"planned or committed to afte. July 1. 1987 and areas designated after July 1, 1987 require a STATEMENT OF BENEFITS. (IC 6-1.1.12.1) Aoproval of the designating body(City Council. Town Board. County Council. etc.)must be obtained prior to initiation of the redevelopment or rehabilitation or prior to installation of the new manufacturing equipment. BEFORE a deduction may be approved. To obtainctto a property, Form 32 ERA. Real Estate befileImprovements the later of I t Maynd/or orm 322 10.or(2)hirty(30 days afterw Machinery, a of notice of incr Must be ease inh the real property assessmen is uditor. Will ece real Ftownshi2pERAreceived assessor. Form 322 ERA/PP must be riled between March i and May 15 of the assessment year in which new manu/ac Luring equipment becomes assessable: unless a filing extension has been obtained. A person who obtains a filing extension must file the form betweei March 1 and June 14 of that year. .: Property owners whose Statement of Benefits was approved after July 1. 1991 must submit Form CF- 1 annually to show compliance with the Statement c Benefits. (IC 6-1.1-12.1-5.6) SECTION t • 'TAXPAYER INFORMATION Name of taxpayer Crown Equipment Corporation Address of taxpayer (street and number. city, state and ZIP code) 40 South Washington Street — New Bremen, Ohio 45869 Telephone number 'Jame of contact person ( 419 � 629-2311 Bradley L. Smith IN '.'=SECTION 2- . LOCA RON AND DESCRIP RON OF P PROJECT-: . . i • Resolution n er Name of designating body I /n s — awQ ��n]` Greencastle City Council j County Taxing district Location of property,�(00 State Road 240 Greencastle, Indiana Putnam Greencastle City 1,,___notion of real property improvements and;or new manufacturing equipment to be acquired (use additional Estimated starting date sheets it necessary)11 October 15 , 1995 Estimated completion date i See attached Begin production earlu 1996 SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULt OF PROPOSED' PNumber odd a1 Salaries 1Current number Salaries Number retained Salaries 1 —0— —0— n/a n/a 105 (Year 1) S2,184,680 L `' 4 Y-e . 'Q 441 _-,sECTION4 • ESTIMIDEDTOtALcostANDVALUEOFPROPOSEDPRWJECt . peal ka(e litibttivetitett4s . -- - . - 1 Machinery� NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d)(2)the 1 I Assessed Value � COST of the property is confidential. Cost Assessed Value Cost Current values _4,000,900 --0 15,000,000 *.000.000 1 Plus estimated values of proposed protect 4 Less values of any property being replaced . i Net estimated values upon completion of protect 8,040,000 1 5,000,000 * includes leased e.uitment SECTION 5 . ' OTHER BEN PROMISED BY THE TAXPAYER I i I i� } t -.SECTION 5. •• • . . .- - r ,.. ., . TAXPAYER CERh1FiCAtl0N . / . I herehv certiiv that the representations in this statement are true. 'Title !Date signed (month, day,year) 'Signature of authorized repres native /� 4/412 4� a `0/ 1 l