HomeMy Public PortalAbout27-2008-27 RESOLUTION 2008-27
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; 4 SCANNED
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. South Street Engineering Design
8. Maple Berry Park Phase II
9. Jackson Street Blvd Engineering
10. People Pathway Phase IV Engineering
11. Jackson Street Blvd Construction
12. Unsafe Buildings
13. Humane Society of Putnam County
B. Description
1. EDIT Bond Repayment-Relocation of City Hall $150,000
2. Albin Pond Pathway, Phase III, Acquisition/Construction $82,664*
(*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 $21,000
5. Albin Pond Dam Maintenance $150,000
6. Neighborhood Sidewalk Renovation $225,000
7. South Street Engineering Design $200,000
8. Maple Berry Park Phase II $125,000
9. Jackson Street Blvd Engineering $100,000
10. People Pathway Phase IV Engineering $85,000
11. Jackson Street Blvd Construction $150,000
12. Unsafe Buildings $50,000
13. Humane Society of Putnam County $7,700
C. Estimated Cost-Total Project Estimate $1,391,364
D. Source of Funds:
County Economic Development Income Tax Funds $1,050,000
(Estimated at $350,000 per year over a three (e) year time period)
EDIT Balance as of November 21, 2008 $781,601
E. Project Time Schedule
1. EDIT Bond Payment for City Hall $50,000 per year*
*( 2009, 2010, 2011)
2. Albin Pond Pathway $82,664 (2009)
3. Safe Route to School $45,000 (2009)
4. Away Home Shelter $7,000 per year*
* ( 2009, 2010, 2011)
5. Albin Pond Dam Maintenance $150,000 *
*(2009=$50,000 & 2011=$100,000)
6. Neighborhood Sidewalk Renovation $75,000 per year*
*(2009, 2010, 2011)
7. South Street Engineering Design $200,000*
*(2009=$100,000, 2010=$100,000)
8. Maple Berry Park Phase II $125,000 (2010)
9. Jackson Street Blvd Engineering $100,000*
(2009=$50,000,2010=$50,000)
10. People Pathway Phase IV Engineering $85,000 (2010)
11, Jackson Street Blvd Construction $150,000 (2011)
12. Unsafe Buildings $50,000 (2009)
13. Putnam County Human Society $7,700 (2009)
a. The above projects require more than 75% of the funds to be distributed over a three (3)
period beginning with the spring tax installation of 2009.
b. This resolution shall be effective from the date of adoption until January 1, 2012.
c. PASSED AND RESOLVED by the Greencastle Common Council this l day of
December, 2008 at $.,LD o'clock p.m.
COMMON COUNCIL OF THE CITY OF
GREENCASTLE
Lanie Ma N. Hamme
aeS. Bingh m Terry J. S ith
Adam Co en
Approved and signed by me this day of , 2008, at o'clock p.m.
Susan V. Murray, Mayor
ATT ST: (-)
eresa P. Glenn, Clerk Treasurer