HomeMy Public PortalAbout19-1998-35 RESOLUTION NO. 1998 - 35 ret, Arrgt
A RESOLUTION DECLARING AN ECONOMIC REVITALIZATION AREA
(LEAR OPERATIONS CORPORATION; d.b.a.: LEAR - GREENCASTLE)
WHEREAS, the Common Council of the City of Greencastle, Indiana, has determined that
it would be in the best interest 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, LC. 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 manufacturing equipment 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:
Situate in the State of Indiana, County of Putnam and being a part of the South half of
Section 13, Township 14 North, Range 4 West of the Second Principal Meridian, more
particularly described to-wit:
Beginning at a railroad spike in the centerline of a county road which is 464.71 feet North
and 3338.63 feet East of the Southwest corner of Section 13, Township 14 North, Range
4 West; the said railroad spike is further described as being North 00 degrees 27 minutes
02 seconds West 724.71 feet from the intersection of the centerline of said county road
and the North right-of-way line of Indiana State Road No. 240; thence West 1361.01 feet
to a concrete monument; thence North 1400.00 feet to a concrete monument; thence East
1350.00 feet to a railroad spike in the centerline of the aforesaid county road which is
South 00 degrees 27 minutes 02 seconds East 1400.04 feet with the centerline of said
county road to the point of beginning, containing 43.57 acres, more or less.
EXCEPT THEREFROM the following described real estate: Beginning at a point 1864.71
feet North and 1977.62 feet East of the Southwest corner of Section 13, Township 14
North, Range 4 West; thence East 250.0 feet; thence South 200.0 feet; thence West 250.0
feet; thence North 200.0 feet to the point of beginning, containing 1.148 acres.
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, Putnam County, 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 area 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 attracting new industrial prospects to the City of
Greencastle, Indiana, it is imperative that such City offer to prospective new industries locating 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 Putnam County Assessor's Office for inspection
therein.
6. That after due publication, a public hearing shall be heid at the time set forth in the
public notice notifying of the passage of this Resolution at which time, this Common Council shall
received 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 at its
regular meeting this 20th day of October, 1998.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
A.,e)
Thomas W. Roach David Masten
Mark N. Hammer Barry Baynard
Ki reen
Approved and signed by me this 20th day of October, 199 t 6pan) p.m. o'clock.
Nancy A. lichael, Mayor
ATr' .T:
4a
Pamela S. Jones, Cle 0reasurer