HomeMy Public PortalAbout11-1999-11 RESOLUTION NO. 1999 - 11
A RESOLUTION REAFFIRMING RESOLUTION 1999 - 10 AND DECLARING AN
ECONOMIC REVITALIZATION AREA AND RECOMMENDED TAX DEDUCTION
(F. B. BISTRO, INC.)
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 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, the Greencastle Common
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, F. B. Distro, Inc., proposes to expand their distribution center with a 60,000
square foot addition and invest in additional distribution equipment.
WHEREAS, a Statement of Benefits on State Form 27167 (Form SB-1) said form
approved by the State Board of Tax Commissioners, has been submitted to the Common Council
on February 23, 1999, prior to redevelopment or rehabilitation and installation of new
manufacturing equipment on such real estate by F. B. Distro, Inc., and that such Statement of
Benefits is attached hereto and marked "Exhibit A"; and
WHEREAS, the Greencastle Common Council passed Resolution 1999-10 on March 9,
1999 and advertised a public hearing for April 13, 1999; and,
WHEREAS, the Greencastle Common Council, pursuant to the laws of the State of
Indiana, does now hereby find that:
1. The estimate of the value of the redevelopment of 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.
THEREFORE, based upon these findings, BE IT RESOLVED THAT THE CITY OF
GREENCASTLE on this 13 day of April, 1999, 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:
Commonly known as the F B Distro, Inc. facility located at 1901 State Road 240
East and described in Deed Record - Book 185 Page 293 and Book 185 Page 305
in the Putnam County Courthouse.
Situate in the State of Indiana, County of Putnam and being a part of Section 13,
14, 23, and 24, all in Township 14 North, Range 4 West of the Second Principal
Meridian, more particularly described to-wit:
Commencing at the Northeast corner of Section 23, Township 14 North, Range 4
West; thence South 01 degree 20 minutes 30 seconds West 90.10 feet with the
East line of said Section 23 to the South right-of-way of Indiana State Road 240
and the true point of beginning of the real estate herein described; thence from said
true point of beginning and with the South right-of-way of the afi resaid Indiana
State Road 240 Westerly 461.20 feet on a curve to the left having a radius of
28,532.90 feet and subtended by a long chord bearing North 89 degrees 04
minutes 13 seconds West a distance of 461.19 feet; thence North 89 degrees 32
minutes 00 seconds West 1,525.20 feet; thence South 84 degrees 45 minutes 22
seconds West 50.25 feet; thence North 89 degrees 32 minutes 00 seconds West
100.00 feet; thence North 83 degrees 49 minutes 22 seconds West 50.25 feet;
thence North 89 degrees 32 minutes 00 seconds West 300.50 feet; thence North
89 degrees 21 minutes 00 seconds West 822.23 feet; thence South 89 degrees 23
minutes 17 seconds West 227.02 feet to the North right-of-way of the former
location of the Conrail Railroad; thence leaving the South right-of-way of the
aforesaid Indiana State Road 240 and with the North right-of-way of the aforesaid
railroad North 63 degrees 15 minutes 10 seconds East 5,970.70 feet to the North
line of the South half of Section 13, Township 14 North, Range 4 West; thence
South 87 degrees 24 minutes 03 seconds East 1,513.92 feet with said North line to
the West right-of-way line of a county road; thence South 00 degrees 27 minutes
02 seconds East 3,048.71 feet with the West right-of-way line of said county road
and the Southerly extension thereof to the South right-of-way of the aforesaid
Indiana State Road 240; thence with said South right-of-way Westerly 64.56 feet
on a curve to the right having a radius of 43,091.85 feet and subtended by a long
chord bearing North 77 degrees 29 minutes 49 seconds West a distance of 64.63
feet; thence North 71 degrees 43 minutes 47 seconds West 50.42 feet; thence
Westerly 517.21 feet on a curve to the right having a radius of 43,086.85 feet and
subtended by a long cord bearing North 77 degrees 02 minutes 38 seconds West a
distance of 517.24 feet; thence North 76 degrees 42 minutes 00 seconds West
314.00 feet; thence Westerly 813.38 feet on a curve to the left having a radius of
4,468.66 feet and subtended by a long chord bearing North 81 degrees 54 minutes
52 seconds West a distance of 812.26 feet; thence South 86 degrees 54 minutes 10
seconds West 49.74 feet; thence North 87 degrees 23 minutes 00 seconds West
100.00 feet; thence North 81 degrees 40 minutes 22 seconds West 50.25 feet;
thence North 87 degrees 23 minutes 00 seconds West 799.80 feet; thence Westerly
609.63 feet on a curve to the left having a radius of 28,532.90 feet and subtended
by a long chord bearing North 87 degrees 59 minutes 43 seconds West a distance
of 609.55 feet to the point of beginning, containing 269.91 acres.
Except therefrom all property deeded by International Business Machines
Corporation to the Greencastle Properties Company, Automotive Industries, Inc.,
County of Putnam, and City of Greencastle.
THEREFORE, the Greencastle Common Council does recommend a deduction of
assessed value for a period of ten years as a result of the increase in assessed value resulting from
the redevelopment or rehabilitation of improvements as set forth in I.C. 6-1.1-12.1-2.5.
The Greencastle Common Council does not recommend tax abatement for new
distribution equipment nor does F. B. Distro, Inc., request such abatement.
The Greencastle Common Council further recommends and approves the application of
the deductions herein for improvements or equipment installed pursuant to the Statement of
"''1 Benefits from the approval of this ordinance and during the 18 ensuing months, April 13, 1999 to
October 31, 2000.
PASSED AND RESOLVED by the Common Council of the City of Greencastle at its
regular meeting this 13th day of April, 1999.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
Barry Bard David Masten
Kie reen Thomas W. Roach
// :1,41 /g
Mar N. Hammer
Approved and signed by me this 13th day of April, 1999 at f' y p.m. o'clock.
Nancy A. ichael, Mayor
ATTEST:
Pamela S. Jones, Cle asurer
,0111'rIPIP STATEMENT OF BENEFITS S9
'e c'�" Slate Fenn 21161(RS 111.95)
:..1 Form SO-1 is preccnbe W the Stele Board of Tax Commisuoners.1959
requires infer
INSTRUCTIONS;ThisraremCthe economic reviritization area prior to the public hearing if the designating body
1. This s7erem the musr beca t in
ro the s designating ring manse i statement
o/real property e
body
new manufacturing equipment, or BEFORE the redevelop 1 1gB7 requirey
n from gyDlicanr In making its decision about whether so designate do Economic Revitalization 1987 and areas designated after Jufym�t be su m stet
fo
whitmaiiBEFORE a person Installs the
to the designating body
which the Person wishes so Germ a deduction. 'Projects-planned or pomm ed to aher July t• prior to initiation of rho redevelopment or rehabilitation.
STATEMENT OF BENEFITS.body
must De obtained
2. prior of Me designating body(City Council. Town board.County Couno;4 eta.) must be pled with the county a"d't°r. Nr�
or prior to Installation of the new manufacsunng equipment BEFORE a deduyction maybe approved property assessmer
Form 322 ss ERA. Form
fled b fie lPtmust be,fed between Marcb 1 and May after5 of the assessment
year in f �form b M'which new fac 3. TO obtain a deduction. Form 322 EPA. Real Estate Improvements and/or Form 322 ERA/PP,Ndays ew Machinery,
wnnglly
to real equipmentproperty,becomes
assessor. Form 322 EPA/PP m
is received from the rowrvship A person who
d Junebl of not asses-sable,
�;�able. unless a Ming extension has D30. 1 91r m�s submit Form CFbtains a I annually to show comp/lance with the S►alemer
Merits
d Properly owners whose Statement of Benefits was approved after June
of Benefits. (IC 6 7,1-12.1.5.6)
• TAXPAYER INFORMATION •
SECTION 1
Name of taxpayer
FB Distro, Inc.
Address of taxpayer(sfreer and number,city,state and ZIP cede)
1901 State Highway 240 E. , Greencastle,
IN 46135 Telephone number
Name of tented person (765 )653--75 8
Michael Chandler
SECTION 2 • . LOCATION AND DESCRIPTION OF PROPOSED PROJECT Reset• on number
Name of designating body
Greencastle City Council Counry Taxing district
Location of property it of Greenca tl
1901 State Highway 240 E. , Greencastle, IN 46135 Putnam ESTIMATED
Description of real property Improvements and I or new manufacturing equipment Start Date Completion Date
(use addMonaf shears r!necessary)
Construction of 60,000 sq.ft. building for a
Beat Estate
material handling system "New Mfg Equipment A
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT
umber aitionaf Salaries
retained Salaries
Curren(number Salaries 235 2,900,00Q____ 62(fu11/ art tin
235 2 900 000
ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT V ;.
SECTION r ..•'..•.' 'p'e'32'E5131'c;t'inprotrement : .. • % .v�r; , red Value
NOTE:Pursuant a IC 6.1.1-identi .1 (d)(2)the s; ^�K ::_ •; ;4,'�' Assessed Value Gw'' u•�1:ti ' ' A::
COST of the property is confidential. ia1S�b��('r. ". •• - •r 10 000 0 0
Current values 11 000 000 2 000 0 0
plus estimated values of proposed project 2 000 000 N A
Less values of any property being replaced N/A 12 0 0 0
Net estimated values u on completion of pro'ect 13 000,000
SECTIONS WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER
Estimated solid waste convened(pounds) Estimated hazardous waste converted(pounds)
Other benefits:
r,.....'
SECTION 6 TAXPAYER CERTIFICATION
'� I hereb certif that the re•resentations in this statement are true. Date signed(month.day.year)
Tale Sip attire of u,tnonzi� re•reran Vice President a 9q
eZ O
•
/ / fin,.P.PMA/ctijo