HomeMy Public PortalAbout31-2005-31 --7?-. ) SCANNED
RESOLUTION NO. 2005-31
A RESOLUTION DECLARING AN ECONOMIC REVITALIZATION AREA
(LEAR OPERATIONS CORPORATION; d.b.a.: LEAR- GREENCASTLE)
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:
Situate in the State of Indiana, County of Putnam and being a part of the South half
i of Section 13, Township 14 North, Range 4 West of the Second Principal Meridian,
more particularly described to-wit:
Beginning at a railroad spike in the centerline of a county road which is 464.71 feet
North and 3338.63 feet East of the Southwest corner of Section 13, Township 14
North, Range 4 West; the said railroad spike is further described as being North 00
degrees 27 minutes 02 seconds West 724.71 feet from the intersection of the
centerline of said county road and the North right-of-way line of Indiana State Road
No. 240; thence West 1361.01 feet to a concrete monument; thence North 1400.00
feet to a concrete monument; thence East 1350.00 feet to a railroad spike in the
centerline of the aforesaid county road which is South 00 degrees 27 minutes 02
seconds East 1400.04 feet with the centerline of said county road to the point of
beginning, containing 43.57 acres, more or less.
EXCEPT THEREFROM the following described real estate: Beginning at a point
1864.71 feet North and 1977.62 feet East of the Southwest corner of Section 13,
Township 14 North, Range 4 West; thence East 250.0 feet;thence South 200.0 feet;
thence West 250.0 feet;thence North 200.0 feet to the point of beginning,containing
1.148 acres.
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,Putnam County,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 attracting new industrial prospects to the City of
Greencastle,Indiana, and new investment by existing industry,it is imperative that such City offer
to prospective new industries locating in and existing industries investing in the above-described
area up to the maximum 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 Putnam 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 11th day of October, 2005.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
47//li
Russ Evans Mar N. Hammer
John A. Lanie Robert P. Sedlack
w
Thomas W. Roach
Approved and signed by me this 11th day of October, 2005 at3'.ZD p.m. o'clock.
Nancy A. Michael, Mayor
ATTEST:
Teresa P. Glenn, erk-Treasurer