HomeMy Public PortalAbout02-2000-2 RESOLUTION NO. 2000-2 v k•
A RESOLUTION DECLARING AN ECONOMIC REVITALIZATION AREA
(NORTH AMERICAN CAPACITOR COMPANY)
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, I.C. 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:
Apart of the Southeast quarter of the Southwest quarter of Section 14, Township 14
North, Range 4 West of the Second Principal Meridian, more particularly described
to wit:
Beginning at a point on the South line of the aforesaid Section 14 that is 1748.28 feet
East of the Southwest corner of the Southwest quarter of said Section 14; thence East
on and along said South line 341.52 feet to the North right of way line of the
Pennsylvania Railroad; thence North 62 degrees 27 minutes East with said North right
of way line 735.05 feet to the East line of the Southwest quarter of said Section 14;
thence North 0 degrees 36 minutes West with said East line 388.70 feet to a point;
thence leaving said East line West parallel to the South line of said Section 14, 996.72
feet to a point; thence South 0 degrees 36 minutes East parallel to the East line of the
Southwest quarter of said Section 14, 728.63 feet to the point of beginning,
containing 14.115 acres, more or less.
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, 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
""`N 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 County Assessor's Office for inspection therein.
6. That after due publication, a public hearing shall be held 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 8th day of February, 2000.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
97,,a6"A-tri--\---)Norm Crampton Thomas W. Roach
6 r
rk N. Hammer Mi e Rokicki
Teresa Parrish
Approved and signed by me this 8th day of February, 2000 at '01p.m. o'clock.
� ffn
Nancy A. Michael, Mayor
ATTEST:
1
Pamela S. Jones, Clerk-Tre,4urer
)' Form SB-1 is prescribed by the State Board of Tax Commissioners,1989
tee' •
rem
'STRUCTIONS:
This 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 whether to designate an Economic Revitalization 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 property for
wi he person wishes to claim a deduction. -Projects'planned or committed to after July 1, 1987 and areas designated after July 1, 1987 require a
S .VENT OF BENEFITS. (IC 6-1.1-12.1)
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.
To obtain a deduction, 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 township assessor. Form 322 ERA/PP must be filed between March 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
March 1 and June 14 of that year.
Property owners whose Statement of Benefits was approved after June 30, 1991 must submit Form CF- 1 annually to show compliance with the Statement
of Benefits. (IC 6-1.1-12.1-5.6)
SECTION 1 TAXPAYER INFORMATION
ime of taxpayer
North American Capacitor Company
(dress of taxpayer(street and number,city,state and ZIP code)
1701 INdianapolis Rd.
Greenrastl e, TN 461 � ,
ime of contact person Telephone number
Kieth Green ( 765 ) 63—"151
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT
tme of designating body Resolution number
Nnri-.h Ampri Can Capa.cii-ar Crmpany
cation of property County Taxing district . .
Greencastle, IN Putnam Greencastle City
!scription of real property improvements and/or new manufacturing equipment ESTIMATED
;e(Voiitonal sheets if necessary). Start Date Completion Date
Equipment to Manufacture Real Estate
Motor Run Capacitors New Mfg Equipment Jan 00 June 00
+ECTION 3 :ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT
rrent number Salaries Number retained Salaries Number additional Salaries
1.19 $3,125,954.00 119 $3,125,954.00 6 $150,000.00
ECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT • •
•
NOTE:Pursuant to IC 6-1.1-12.1-5.1 (d)(2)the
geaT Fatale Empraxemeats. ;- I Machin .�ery . ,< .
COST of the property is confidential. Cost ...... Assessed Value Cost Assessed Value
Current values
Plus estimated values of proposed project $1 ,4(1tl,n(ln
Less values of any property being replaced
Net estimated values upon completion of project
I -ECTION 5 WASTE CONVERTED AND.OTHER BENEFITS PROMISED BY THE TAXPAYER •
ttimated solid waste converted(pounds) 200t Estimated hazardous waste converted (pounds) 0
her benefits:
- ' 6 ;:- ' TAXPAYER CERTIFICATION - -
I hereby certify that the representations in this statement are true.
nature of authorized representative Title Date signed (month,day,year)
Plant Manager 01-12-00