HomeMy Public PortalAbout19-1999-46 crArTn
RESOLUTION 1999-46
A RESOLUTION ESTABLISFIING A CAPITAL E IPROVEMENT PLAN
• `N FOR COUNTY ECONOMIC DEVELOPMENT LNCOME TAX
WHEREAS, the City of Greencastle will have available to it funds collected from the
County Economic Development Income Tax; and
WHEREAS, I.C.6-3.5-7-15 requires the adoption of a Capital Improvement Plan;
NOW THEREFORE BE IT RESOLVED THAT THE CITY OF GREENCASTLE
establish an Economic Development Income Tax Capital Improvement Plan as follows:
1. Project:
a. EDIT Bond Repayment for Relocation of City Hall
(20 year obligation)
b. Jackson Street Renovation
c. Franklin Street Renovation
d. Indianapolis Road Preliminary Engineering
e. Comprehensive Plan & Mapping
f. First Ward Projects
g. Parking Lot Renovations
h. Albin Pond Walkway
A. Description
a. Bond Repayment (20 years) $ 50,000.00 per year
b. City Match-Hanna Street to Berry Street $ 175,000.00
c. Northwood Blvd to Arlington Street $ 17 ,000.00+
d. Wood Street to 10th Street $ 125,000.00
e. Update Comprehensive Plan & Mapping $ 125,000.00
f. Columbia, Liberty& Franklin Street $ 100,000.00
g. City Lot - Indiana & Columbia Streets $ 100,000.00
Berry Street Parking Lot $ 100,000.00
h. City Match - Houck Road to Toddson Drive $ 125,000.00
B. Estimated Cost - Total Project Estimate $1,070,000.00
C. Source of Funds:
County Economic Development Income Tax Fund $1,152,000.00
(estimated at $288,000.00 per year for 4 years)
D. Project Time Schedule
a. Relocation of City Hall
a. Closing by June 2000
b. Renovations & moving by Fall 2000
b. Jackson Street Renovations
a. Engineering complete 1999-2000
• b. Construction Fall 2000
c. Franklin Street Renovations
a. Engineering complete Spring 2000
b. Construction complete Fall 2000
d. Preliminary Engineer Study - Indianapolis Road
a. Study to begin May, 2000 ($62,500.00)
b. Study complete May, 2001 (S62,500.00)
e. a. Engineering to begin 2001
b. Completion 2001
£ Columbia,Liberty&Franklin Street Renovations
a. Engineering 2002
b. Construction 2002
g. Parking Lot- Indiana and Columbia Street
a. Engineering 2003
b. Construction 2003
Parking Lot -Berry Street
a. Engineering 2003
b. Construction 2003
h. Albin Pond Walkway-Houck Road to Toddson Drive
a. Engineering 2001 ($62,500.00)
b. Construction ($62,500.00)
2. The above projects require more than 75% of the funds to be distributed over a
four-year period beginning with the Spring distribution of 2000.
3. This resolution shall be effective from the date of adoption until January 1, 2004.
4. PASSED AND RESOLVED by the Common Council of the City of Greencastle
this 30th day of December, 1999 at 47'2-6- o'clock p.m.
EDIT
Balance November 1999 $289,000.00
May 1999 Draw 144,000.00
$433,000.00
2000 Projects
Bond Payment 50,000.00
Jackson Street Renovation $388,000.00
175,000.00 208 000.00
Franklin Street Renovations 170,000.00 38,000.00
Indianapolis Road Preliminary Engineering is also a 2000 project that will be paid for out of the
Edit Bond.
November 1999 Draw 144,000.00 182,000.00
May 2000 Draw 144,000.00 326,000.00
2001 Projects
Bond Payment 50 000.00 276,000.00
Albin Pond Road 125,000.00
Comprehensive Plan Update 125 000.00 151,000.00
26,000.00
November 2000 Draw 144,000.00 170,000.00
r\lay 2001 Draw 144,000.00 314,000.00
2002 Projects
Bond Payment 50 000.00 264,000.00
City Parking Lot Indiana Street 100,000.00
164,000.00
First Ward Projects 100,000.00 64,000.00
November 2001 Draw 144,000.00 208,000.00
May 2002 Draw 144,000.00 352,000.00
2003 Projects
Bond Payment 50,000.00 302,000.00
Berry Street Parking Lot 100,000.00 202,000.00
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I
COMMON COUNCIL OF THE CITY OF GREENCASTLE
Thomas Roach
Barry Baynard
Mark Hammer ''�"'� ('
David Masten
Kieth G en
Approved and signed by me this 14th day of December 99 at
o'clock p.m.
Nancy A. M. ael, Mayor
AT ST:
Pamela S. Jones, Clerk asurer
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