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Home My Public Portal About08-2001-8 $CANIE RESOLUTION NO. 2001 - g A RESOLUTION REAFFIRMING RESOLUTION 2001 - 5 AND DECLARING AN ECONOMIC REVITALIZATION AREA AND RECOMMENDED TAX DEDUCTION (H.A. PARTS PRODUCTS OF INDIANA COMPANY) 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 City 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, H.A. PARTS PRODUCTS OF INDIANA COMPANY (HAPPICO) desires to expand their facility with a 72,000 square foot addition, a 24,000 square foot warehouse, and the investment in new manufacturing equipment in the amount of$4,100,000. WHEREAS, a Statement of Benefits on State Form 27167 (Form SB-I) said form approved by the State Board of Tax Commissioners, has been submitted to the Common Council on February 8, 2001, prior to redevelopment or rehabilitation and installation of new manufacturing equipment on such real estate by HAPPICO and that such Statement of Benefits is attached hereto and marked "Exhibit A"; and WHEREAS, the Greencastle City Council passed Resolution 2001-5 on February 21, 2001 and advertised a public hearing for March 13, 2001; and, WHEREAS, the Greencastle City 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 13th day of March, 2001, pursuant to 1.C 6-1 I-12 I-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: 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 329.70 feet on a curve to the right having a radius of 28,532.90 feet and subtended by a long cord bearing South 88 degrees 16 minutes 36 seconds East, a distance of 329.70 feet to an iron pin and the true point of beginning of the real estate herein described; thence continuing with said South right-of-way Southeasterly 279.11 feet on a curve tot eh right having a radius of 28,532.90 feet and subtended by a long chord bearing South 87 degrees 39 minutes 49 seconds East a distance of 279 11 feet to an iron pin; 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 28.21 feet to an iron pin, thence leaving the South right-of-way line of the aforesaid Indiana State Road 240 South 00 degrees 18 minutes 00 seconds West 618.97 feet to an iron pin; thence North 89 degrees 42 minutes 00 seconds West 1267.27 feet to an iron pin; thence North 01 degree 16 minutes 25 seconds East 670.70 feet with an established property fence line to the point of beginning, containing 18.71 acres, more or less. ALSO: 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 an iron pin marking 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 329.70 feet on a curve to the right having a radius of 28,532.90 feet and subtended by a long cord bearing South 88 degrees 16 minutes 36 seconds East, a distance of 329.70 feet; thence leaving said South right-of-way line South 01 degrees 16 minutes 25 seconds West 670.70 feet with an established property line fence to an iron pin marking the Southwest corner of an 18.71 acre tract and the true point of beginning of the real estate herein described; thence south 89 degrees 42 minutes 00 seconds East 1,267.27 feet to an iron pin marking the Southeast corner of said 18.71 acre tract; thence South 00 degrees 18 minutes 00 seconds West 616. 17 feet to an iron pin; thence North 89 degrees 42 minutes 00 seconds West 1,277.74 feet to an iron pin; thence North 01 degrees 16 minutes 25 seconds East 616.26 feet with an established property line fence to the point of beginning containing 18.00 acres, more or less. THEREFORE, the Greencastle City 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 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. The City of Greencastle does not recommend tax abatement for special tooling nor does HAPPICO 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 Benefits from the approval of this ordinance and during the twenty-four (24) ensuing months, March 13, 2001 to February 28, 2003. PASSED AND RESOLVED by the Common Council of the City of Greencastle at its regular meeting this 13th day of March, 2001. • COMMON COUNCIL OF THE CITY OF GREENCASTLE, 1NDIANA 1/t'C-4/1/k 6/1-6<i/h"\ .:( I 76. 41, 444-44, Norm Crampton Mar N. Hammer Joe Liechty e/-\ Thomas W. Roach Rokicki Approved and signed by me this 13th day of March, 2001 at F•/5 p.m. o'clock. �JG[��-tom �• J/� -� Nancy A. Micl ael, Mayor ATTEST: Pamela S. Jones, Clerk- Oer