HomeMy Public PortalAbout41-2003-41 RESOLUTION 2003-41
A RESOLUTION ESTABLISHING A CAPITAL IMPROVEMENT PLAN
FOR COUNTY ECONOMIC DEVELOPMENT INCOME 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 ($50,000.00/year)
b. Franklin Street,Phase 3 Design
c. Franklin Street,Phase 3 Construction
d. Albin Pond Roadway, Phase 1 Design
e. Albin Pond Roadway, Phase 1 Construction
f. Albin Pond Roadway, Phase 2 Design
g. Main Street Greencastle funding
h. Indianapolis Road Design
i. Indianapolis Road Land Acquisition
j. Big Walnut Sports Park Operating Expenses
k. Away Home Shelter
1. Columbia&Franklin Street Construction, if not completed by 2004
m. Columbia Street Parking Lot Construction, if not completed by 2004
n. Columbia Street Parking Lot Drainage, if not completed by 2004
o. Walnut& Indiana Parking Lot
p. Albin Pond Pathway, if not completed by 2004
q. Maple Berry Park, if not completed by 2004
A. Description
a. EDIT Bond Repayment for Relocation of City Hall $200,000.00
b. Franklin Street, Phase 3 Design $50,000.00
c. Franklin Street, Phase 3 Construction $225,000.00
d. Albin Pond Roadway, Phase 1 Design $50,000.00
e. Albin Pond Roadway, Phase 1 Construction $230,000.00
f. Albin Pond Roadway, Phase 2 Design $50,000.00
g. Main Street Greencastle funding $20,000.00
h. Indianapolis Road Design $200,000.00
i. Indianapolis Road Land Acquisition $150,000.00
j. Big Walnut Sports Park Operating Expenses $20,000.00
k. Away Home Shelter $10,000.00
1. Columbia&Franklin Street Construction *$100,000.00
m. Columbia Street Parking Lot Construction *$100,000.00
n. Columbia Street Parking Lot Drainage *$100,000.00
S
o. Walnut& Indiana Parking Lot $75,000.00
p. Albin Pond Pathway *$125,000.00
q. Maple Berry Park *$100,000.00
*Projects that are expected to be started in 2003 and funded with December EDIT Balance
B. Estimated Cost- Total Project Estimate $1,280,000.00
+ *$525,000.00
$1,805,000.00
C. Source of Funds:
County Economic Development Income Tax Fund
(estimated at $350,000.00 per year over 4 years) $1,400,000.00
EDIT Balance December 31, 2003 $525,000.00
D. Project Time Schedule
a. EDIT Bond Repayment for Relocation of City Hall
2004 ($50,000), 2005 ($50,000), 2006($50,000), 2007($50,000)
b. Franklin Street, Phase 3 Design 2004 ($50,000.00)
c. Franklin Street, Phase 3 Construction 2005 ($225,000.00)
d. Albin Pond Roadway, Phase 1 Design 2006($50,000.00)
e. Albin Pond Roadway, Phase 1 Construction 2007 ($230,000.00)
f. Albin Pond Roadway, Phase 2 Design 2007 ($50,000.00)
g. Main Street Greencastle funding
2004 ($20,000)
h. Indianapolis Road Design
2004 ($125,000), 2005 ($25,000), 2006($25,000), 2007 ($25,000)
i. Indianapolis Road Land Acquisition 2006($100,000), 2007($50,000)
j. Big Walnut Sports Park Operating Expenses
2004 ($20,000)
k. Away Home Shelter
2004 ($10,000)
1. Columbia&Franklin Street Construction 2004 ($100,000.00)
m. Columbia Street Parking Lot Construction 2004($100,000.00)
n. Columbia Street Parking Lot Drainage 2004 ($100,000.00)
o. Walnut& Indiana Parking Lot 2004 ($75,000.00)
p. Albin Pond Pathway 2004 ($125,000.00)
q. Maple Berry Park 2004 ($100,000.00)
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 2004.
3. This resolution shall be effective from the date of adoption until January 1, 2008.
4. PAKED AND RESOLVED b the Common Council of the City of Greencastle this
fo� day of August, 2003 at2-Oo'clock p.m.
COMMON COUNCIL OF THE CITY OF G ENCASTLE
et14.40-atil
Thomas Roach Mark Hammer
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2,4 ,. . .,._,,,a,,,,,f
Mik Rokick Rob Sedlac
Joe Liechty
Approved and Signed by me this /arday of August, 2003 at F.1 'clock p.m.
rTh
ancy A. ael, Mayor
._______.,
Attest:
Ill
-y
Pamela S. Jones, C er reasurer
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