HomeMy Public PortalAbout03-2005-3 :ter$ v,I.
RESOLUTION NO. 20 5-3 "' ` `."" `l 0
A RESOLUTION DECLARING AN ECONOMIC REVITALIZATION AREA
(MAGIC CIRCLE CORPORATION- 1701 INDIANAPOLIS ROAD)
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:
Part of the Southeast Quarter of the Southwest Quarter of Section 14, Township 14
North, Range 4 West of the Second Principal Meridian in Putnam County, Indiana,
more particularly described as follows:
Beginning at a point on the South line of the aforesaid Section 14 that is 1748.28 feet
from East of the Southwest Corner of the Southwest Quarter of said Section 14;
thence East on 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 11 seconds 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 11 seconds
East parallel to the East line of the Southwest Quarter of said Section 14,728.68 feet
to the point of beginning, containing 14,115 acres, more or less.
EXCEPT, The following described real estate now occupied as a right of way for
State Road 240; Part of the Southeast Quarter of the Southwest Quarter of Section
14,Township 14 North, Range 4 West of the Second Principal Meridian in Putnam
County, Indiana, more particularly described as follows:
Beginning at a point on the South line of the said Section, which said point bears
'1 North 90 degrees 00 minutes 00 seconds East(assumed bearing) 1748.28 feet from
the Southwest Corner of the Southwest Quarter of said Section 14;thence North 00
^ degrees 34 minutes 11 seconds West 63.99 feet,parallel with the East line of the said
Southwest Quarter of Section 14, to the North line of State Road 240 as conveyed
to the State of Indiana and recorded in right of Way Book 1,page 122,in the office
of the Recorder of Putnam County,Indiana(the next three courses are along the said
North line of State Road 240); (1) thence North 89 degrees 48 minutes 08 seconds
East 29.42 feet;(2)thence North 82 degrees 12 minutes 28 seconds East 151.33 feet;
(3)thence North 89 degrees 48 minutes 08 seconds East 327.15 feet to the Northerly
line of the former Pennsylvania Railroad right of way; thence South 62 degrees 27
minutes 00 seconds West 185.36 feet along said Northerly right of way line to the
South line of said Section 14;thence South 90 degrees 00 minutes 00 seconds West
341.52 feet along the said South line to the point of beginning, containing 0.777
acres, more or less. (Instrument Number 2004007238)
Also commonly known as 1701 Indianapolis Road.
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
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 retaining and attracting industrial prospects and
investment to the City of Greencastle, Indiana, it is imperative that such City offer to existing and
prospective 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 March, 2005.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
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Russ Evans Mark .,ammer
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Jo . Lanie Thomas W. Roach
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Robert P. Sedlack
Approved and signed by me this 8th day of March, 2005 at ',JI p.m. o'clock.
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Nancy A. Mic ael, Mayor
ATTEST:
Teresa P. Glenn, Clerk-Treasurer