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Home My Public Portal About06-1997-6 rIvrr RESOLUTION NO. 1997-6 v r iz A RESOLUTION REAFFIRMING RESOLUTION 9AREA AND DECLARING AN ECONOMIC T�DEDUCTION AND RECOMMENDED WHEREAS, the laws of the State of Indiana, specifically I.C. 6-1.1-12.1-1, et. seq., im provide for the creation of economic revitalization areas within thecorporate li Bits pertY tax of the City of Greencastle, Putnam County, Indiana, for the general purpose r, or deductions to encourage private redevelopment of areaswhich of a lack of developmentblcessation impossible of, normal development and occupancy because e obsolescence, of growth, deterioration of �Prfactorsntwhich character inlpaired uvalues, or g prevent normal asubstandard buildings or other development of property or use of property; and WHEREAS, the term "economic revitalization area" ues any area energy obsolete rare a facility or a group of facilities that are technologically, onomically or located and where the obsolescence may lead to the decline in employment and tax revenue; and WHEREAS, "redevelopment" means the constructionew upon which structures pr econior existing omi c revitalization areas either on unimproved real estate or on real estate 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 City WHEREAS, pursuant to applicable laws of the State of Indiana, of,a resolutitle on; and Council may create said economic revitalization area through the adoption 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, Equipment Crown E ui ment Corporation, Inc. has planned redevelopment anc uctu rehabilitation to the existing Crown site which will including mlodifi at ons of lvaluesat uprt� to accommodate manufacturing equipment, in g building 0. $3,600,000 and the addition of manufacturing equipmentoof a vas lue tuorease$5,700,00oyment bl Equipment Corporation believes the additional imp approximately 200 jobs. Crown Equipment Corporation, Inc. seeks a tax deduction pursuar to I.C. 6-1.1-12.1, et. seq.; and ori WHEREAS, a Statement of Benefits on State Form the Greencastef Cif approved by the State Board of Tax Commissioners, have been submitted tCouncil on February 11, 1997, prior to redevelopment or rehabilitation and installation of ne manufacturing equipment on such real estate by Crown EquiphmibittA'orp elation, Inc. and th n such Statement of Benefits is attached hereto and marked WHEREAS, the Greencastle City Council passed Resolution 1997-5 on February 1 1997, and advertised a public hearing for March 11, 1997; and • WHEREAS, Greencastle City Council, pursuant to the laws of the State of Indiana, does now hereby find that: The estimate of the value of the redevelopment or rehabilitation andnew 1 projects of that nature; manufacturing equipment is reasonable for p J to ed or whose e ro ose bl expected to result from the P manufacturing 2. Thee estimate of the number of individuals who will be em a employment will be retained can reasonably d or rehabilitation ilitation and installation of new manu described redevelopment equipment; employed or the annual salaries of those individualsnably be who will o bese from e the whose3. Themti ymnate f employment will be retained rehabilitation and installation of new manufacturing proposed described redevelopment or equipment; uested are benefits that can 4. That any other benefits about which information was req from the described redevelopment or rehabilitation and be reasonably expected to result equipment. installation of new manufacturingof a deduction. 5. The totality of the benefits is sufficient to justify THAT THE CITY OF RESOLVED upon these findings BE IT 6-1.1-12.1-1, et. Seq•, THEREFORE based pursuant to I.C. GREENCASTLE on this day_ of March, 1997, fish an economic revitalization area and that said economic o es deems there torea shall be be a need tdef defined as follows: revitalization a TRACT I (ORIGINAL CROWN SITE) of the West County of Putnam and being a part Situate in the Stata of Indiana, he Northwest quarter of Section of the Northeast quarter and the East°ha�of econd Principal Meridian, more half e 4 West 24, Township 14 North, Rang particularly described, to-wit: 14 North, Range Township line Commencing at the Northwest corner of Section 24, the Northeast et 4 West; thence South 88 degrees 10 minutes East 3840.10t half to the North said Section 24 to the Northeas corner es West 469.67 feet with the f Indiana ofdegrees 19 ht-feet line o t line quarter; thence South a in on the South rig of said West half quarter to an ironop t of beginning of the real estate herein State Road #240 and 00 deg h thereof, North degrees degrees 19 minutes West 694.04 feet with said East described; thence South77 degrees 56 minutes thence with a fence line and thewood easterly extension es West line; 30 minutes West 467.337 West feet5 to a feette to a ence North 77 degrees00 •1 post; feet iron a steel tence leaving the aforesaid fence line, Northline degrees370.24 i an pin; pin on the South right-of-way 19 minutes East 755.97 feet to an iron of Indiana State Road #240; thence with said South right-of-way line, South 76 (1-4' 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 on the South Side of Indiana Highway 240, at its Southeast intersection with County Road 250 East, Greencastle Township, Putnam County, Indiana. TRACT II ADDITIONAL SITE (South Side Indiana 240) Situate in the State of Indiana, County of Putnam and being a part 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 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 608.81 feet on a curve to the right having a radius of 28532.90 feet and subtended by a long chord bearing South 87 degrees 59 minutes 44 seconds East a distance of 608.80 feet; 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 49.74 feet to an iron pin; thence Southeasterly 73.61 feet on a curve to the right having a radius of 4468.66 feet and subtended by a long chord bearing South 86 degrees 39 minutes 01 second East a distance of 73.61 feet to the true point of beginning of the real estate herein described; thence continuing with the aforesaid South right-of- way line Southeasterly 739.81 feet on a curve to the right having a radius of 4468.66 feet and subtended by a long chord bearing South 81 degrees 26 minutes 35 seconds East a distance of 738.96 feet; thence South 76 degrees 42 minutes 00 seconds East 110.63 feet to the Northwest corner of a 22.36 acre tract as described in Deed Record 187, page 401 in the office of the Recorder of Putnam County, Indiana; thence leaving the South right- of-way line of the aforesaid Indiana State Road #240 South 00 degrees 19 minutes West 755.97 feet with the West line of the aforesaid 22.36 acre tract to the Southwest corner thereof; thence West 854.00 feet to the East right-of-way line of Capital Drive; thence with said East right-of-way line North 00 degrees 18 minutes 00 seconds East 351.45 feet; thence South 89 degrees 42 minutes 00 seconds East 15.00 feet; thence North 00 degrees 18 minutes 00 seconds East 540.00 feet to the point of beginning, containing 16.24 acres, more or less. 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 all as set forth in I.C. 6-1.1-12.1-3 and a deduction for a period of ten years as a result of the installation of new manufacturing equipment, all as set forth in I.C. 6-1.1-12.1-4.5. n• hate ent „�„t;r,., �h•�u --�,, t� �rP�;a� t,,,,�:s,. The Greencastle Common Council further recommends and approves the application of the deductions herein for improvements or equipment installed pursuant to the statement of benefits from the approval of this ordinance and during the thirty ensuing months. PASSED AND RESOLVED by the Common Council of the City of Greencastle at its special meeting this /767Itlay of March, 1997. COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA Thomas W. Roach David Masten Gut 4),( 14-4-v"' ark N. Hammer Barry Baynard Ki Green • ,J Approved and signed by me this / /t day of • , 1997 at"7'`-7/6'clock p.m. AT T: ancy A, ichael, Mayor Pamela S. Jones, Clerk- asurer