HomeMy Public PortalAbout19-1995-27 RESOLUTION NO. 1995 - 27
411
A RESOLUTION REAFFIRMING RESOLUTION 1995-22
AND DECLARING AN ECONOMIC DEVELOPMENT TARGET AREA
AND RECOMMENDED TAX DEDUCTION •
WHEREAS, the laws of the State of Indiana, specifically I .C.
6-1 . 1-12 . 1-1, et seq. , provided for the creation of economic
development target 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 or impossible
for 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 that have impaired values or prevent a normal
development of property or use of property; and
WHEREAS, I .C. 6-1 . 1-12 . 1-7 defines the procedure for
establishing such an economic development target area; and
WHEREAS, "redevelopment" means the construction of new
structures in economic revitalization areas, including economic
development target 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, pursuant to applicable laws of the State of Indiana,
Greencastle, City Council may create said economic development
target area through the adoption of a resolution; and
WHEREAS, the need exists to establish an economic development
target area in order to encourage private redevelopment in the City
of Greencastle, Putnam County, Indiana; and
WHEREAS, B.G.B. , Incorporated, d/b/a Remedies has planned
redevelopment to the existing (formerly Mac' s Lot, now Remedies )
site which will include the erection of a building to match the
downtown Greencastle historic area value at up to $310, 000 . B.G.B,
Incorporated, d/b/a Remedies seeks a tax deduction pursuant to I .C.
6-1 . 1-12 . 1-1, et. seq. ; and
WHEREAS, a Statement of Benefits on State Form 27167, [Form
SB-i] said form approved by the State Board of Tax Commissioners,
have been submitted to the Greencastle City Council prior to
redevelopment or rehabilitation on such real estate by B.G.B. ,
Incorporated, d/b/a Remedies and that such Statement of Benefits is
attached hereto and marked "Exhibit A" ; and
WHEREAS, the Greencastle City Council passed Resolution 1995-
22 on November 21, 1995, and advertised a public hearing for
December 12, 1995; and
WHEREAS, Greencastle City Council, pursuant to the laws of the
110 State of Indiana, does now hereby find that :
1 . The estimate of the value of the
redevelopment or rehabilitation is reasonable
for projects of that nature;
2 . That any other benefits about which
information was requested are benefits that
can reasonably expected to result from the
described redevelopment;
3 . 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 12th day of December, 1995 , pursuant to
I .C. 6-1 . 1-12 . 1-1, et.. seq. , deems there to be a need to establish
an economic development target area and that said economic
development target area shall be defined as follows :
Part of Lot Number 101 in the Original Plat of the
City of Greencastle as per plat thereof recorded in Plat
Book 1, page 6, in the office of the Recorder of Putnam
County, Indiana, described as follows , to-wit:
Beginning at a point on the North line of said Lot
010 which is 8 feet and I0 inches West of the Northeast
Corner of said Lot; running thence West with the North
line of said Lot a distance of 18 feet; thence South ,
parallel with the East line of said Lot, 102 feet and 9
inches to the. South line of said Lot; thence East with
said South line 18 feet; thence North to the place of
beginning.
ALSO, Part of Lots Numbered 101 and 112 in the
Original Plat of the City of Greencastle as per plat
thereof recorded in Plat 3ook 1, page 6, in the office of
the Recorder of Putnam County, Indiana, bounded as
follows, to-wit:
Eight ( 8) feet of uniform width off the West side of
said Lot 112 and 9 feet of uniform width off the East
side of said Lot 101.
More generally described as B.G.3. , Inc . , d/b/a Remedies
( formally the Mac' s lot) at 14 & 16 W. Washington St . , 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 said property and a deduction for a period of ten years as a
result of the new improvements.
PASSED AND RESOLVED by the Common Council of the City of
Greencastle at its regular meeting this 12th day of December, 1995 .
41
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
Thomas W. Roach Susan V. urviAn0,1.4
Mark N. Hammer i Michael W. Rokicki
/4(AP
Charles T. M les
Approved and signed by me this /2 `day of Pec<+•-L V, 1995 at
/o'• o'clock f'- .m.
Michael M. Harmless, Mayor
ATTEST:
Donald L. Weaver, Clerk-Treasurer
i
rip
A • STATEMENT OF BENEFITS
cv-,_.;� ,. FORM
Stably Form 27167(R4/10-93)
tt, Form SB-1 is prescribed by the State Board of Tax Commissioners,1989 SB -
,a.
, VC77CNS:
1. i his statement must be submitted to the body designating the economic revitilization area prior to the public hearing if the designating body requires infor-
mation from the applicant in making its decision about wnether to designate an Economic Revitilization Area. Otherwise this statement must be submitted
to the designating body BEFORE a person installs the new manufacturing equipment, or BEFORE the redevelopment or rehabilitation of real properly for
which the person wisnes to claim a deduction. A statement of benefits is not required if 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 after
July 1, 1987 and areas designated after July 1, 1987 require a STATEMENT OF BENEFITS. (IC 6-1.1-121)
2. Approval 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.
3. To obtain a deduc ion. Form 322 ERA. Real Estate improvements and/or Form 322 ERA/Pp New Machinery, must be filed with the county auditor. With
respect to real property, Form 322 ERA must be filed by the later of: (1)May 10:or(2)thirty(30)days after a notice of increase in real property assessment
is received from the townsnio assessor. Form 322 ERA/PP must be filed between Marcn 1 and May 15 of the assessment year in which new manufac-
turing equipment becomes assessable, unless a filing extension has been obtained. A person who obtains a filing extension must file the form between
Mare 1 and,June 14 of that year.
4. Property owners wnose Statement of Benefits was approved after July 1, 1991 must submit Form CF- 1 annually to snow compliance with the Statement of
Benefits. (iC 6-1.1-12.1-5.6)
SECTION t TAXPAYER INFORMATION
Name of taxpayer...3 3 . r-)C D e po�- ' Dl 3 /' �1-7) e
Aaoress of taxpayer(street and number: city,state and ZIP code) r
Name or contact person /'- r , • I Teieonone number
SECTION Z Li:3=1ON ANTI DE.SCRIPTiON OF PROPOSEII PROJECT
Name or designating ooay i Resolution number tali )
-( JOn i ..:1, —` 7t-f .,u)l.;%)L, ; 1 / fl' -2 7 (7�-Z'I4
L •Ncn or orccerty County -� Taxing cistnct
/' 1 L ' L/(' /7/%(J ~/t �t70j1/I11,jv r"lJ %r "�J /�4/1(!/:, ,e ..._-i 7v
- Descnotion or real oroperty improvements and i or new manuramunng equipment to oe acquired (use additional Estimated starting date
j sneers if necessary) fie,, /+each e l
Estimated completion cate
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT
:,urent number ri 'Salaries Number retained Salanes Number additional Salaries
, /1,/////4 „ i
SECTION 4- ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT
NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d)(2)the Real Estate Improvements Machinery
COST of the property is confidential. .-,-. : P - -, Assessed Value .-,~Cost.--- --^-I Assessed Value
Current values fa()C9 !
Plus estimated values of proposed project _.j()O,Qy1l
Less values of any property being replaced i
Net estimated values upon completion of protect I 3/U/ QCQ— I_ 1
SECTION 5 OTHER BENEFITS PROMISED BY THE TAXPAYER
I
i
1
1I,
SECTiON6 .. TAXPAYER CERTIFICATION
i nereov certrfv:nat the representations in :his statement are true.
Signature or autnonzeo representative T one Date signed(month, day,year)
/ 7 �.LL •uu::� 1/Li7,?/QS