HomeMy Public PortalAbout31-2007-31 BE dk:.tiG'v. 6.)
RESOLUTION 2007-31
A Resolution Establishing A Capital Improvement Plan for the 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. 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:
A. Project
1. EDIT Bond Repayment - Relocation of City Hall
2. Albin Pond Pathway, Phase III, Acquisition& Construction
3. Safe Route to School Pathway
4. Away Home Shelter
5. Albin Pond Dam Maintenance
6. Neighborhood Sidewalk Renovation
7. Forest Hill Cemetery Memorial Garden
8. South Street Engineering Design
9. Greencastle Fire Sub-Station Engineering Design
10. Maple Berry Park Phase II
11. Jackson Street Blvd Engineering
12. People Pathway Phase IV Engineering
13. Jackson Street Blvd Construction
B. Description
1. EDIT Bond Repayment-Relocation of City Hall $ 200,000
2. Albin Pond Pathway, Phase III, Acquisition/Construction $ 260,000*
(*Any reimbursement should be credited to the EDIT Fund; Prop.
Acq. 240K -192reim=$48K; 10% Construction estimated at 900K)
3. Safe Route to School Pathway $ 45,000
4. Away Home Shelter $ 28,000
5. Albin Pond Dam Maintenance $150,000
6. Neighborhood Sidewalk Renovation $300,000
7. Forest Hill Cemetery Memorial Garden $ 80,000
8. South Street Engineering Design $200,000
9. Greencastle Fire Sub-Station Engineering Design $130,000
10. Maple Berry Park Phase II $125,000
11. Jackson Street Blvd Engineering $100,000
12. People Pathway Phase IV Engineering $85,000
13. Jackson Street Blvd Construction $150,000
C. Estimated Cost-Total Project Estimate $1,853,000
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D. Source of Funds:
County Economic Development Income Tax Funs $1,400,000
(Estimated at $350,000 per year over a four (4) year time period)
EDIT Balance as of November 13, 2007 $ 533,893
E. Project Time Schedule
1. EDIT Bond Payment for City Hall $ 50,000 per year*
*(2008, 2009, 2010, 2011)
2. Albin Pond Pathway $ 260,000 (2008)
3. Safe Route to School $ 45,000 (2008)
4. Away Home Shelter $ 7,000 per year*
* (2008, 2009, 2010, 2011)
5. Albin Pond Dam Maintenance $ 150,000 *
*(2008=$50,000 & 2011=$100,000)
6. Neighborhood Sidewalk Renovation $ 75,000 per year*
*(2008, 2009, 2010, 2011)
7. Forest Hill Cemetery Memorial Garden $ 80,000 (2008)
8. South Street Engineering Design $ 200,000*
*(2008=$100,000, 2009=$100,000)
9. Greencastle Fire Sub-Station Engineering Design $ 130.000 (2009)
10. Maple Berry Park Phase II $ 125,000 (2010 )
11. Jackson Street Blvd Engineering $ 100,000*
*(2009=$50,000,2010=$50,000)
12. People Pathway Phase IV Engineering $ 85,000 (2009)
13. Jackson Street Blvd Construction $ 150,000 (2011)
The above projects require more than 75% of the funds to be distributed over a four(4) year
period beginning with the spring tax installation of 2008.
This resolution shall be effective from the date of adoption until January 1, 2012.
PASSED AND RESOLVED by the Greencastle Common Council this Jj day of December,
2007 at o'clock p.m.
COMMON COUNCIL OF THE CITY OF GREENCASTLE
1 W. Evans Mar N. Hammer
/,
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J Lanie Thomas W. Roach
a-G -
Rob rt Sedlack
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Apprred and signed by me this /1 day of December 2007 at 2 •r3Do'clock p.m.
l
ancy A. chael, Mayor
ATTEST:
Teresa P. Glenn, Clerk Treasurer
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