HomeMy Public PortalAbout02 - 2023-2 - ECONOMIC DEVLP. TARGET AREA FOR NDIAN SPRINGS NORTH APT. PROJECT ORDINANCE 2023 —2
AN ORDINANCE ESTABLISHING AN ECONOMIC DEVELOPMENT TARGET AREA
FOR THE INDIAN SPRINGS NORTH APARTMENT PROJECT
WHEREAS, I.C. 6-1.1-12.1-7 provides the procedure for establishing an Economic Development
Target Area.
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WHEREAS, Indian Springs North LLC, submitted an application to the City of Greencastle,
requesting the establishment of an Economic Development Target Area.
WHEREAS, said application was presented to the Greencastle Economic Development
Commission for consideration on February 22, 2023.
WHEREAS, after reviewing the application, hearing from the applicant, and due consideration,
the Greencastle Economic Development Commission voted 4-0 to make a recommendation to the
Common Council to establish an Economic Development Target Area.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of Greencastle,
Indiana,that
1. The Common Council, based on the recommendation of the Economic Development
Commission finds that it would be in the best interst of the citizens of the City of
Greencastle if a certain area were defined and declared within such City as an Economic
Development Target Area.
2. That this Common Council hereby declares by description the boundaries of the area to be
declared herein to be an Economic Development Target Area as follows:
A tract of land lying in the Southeast quarter of the Northeast quarter of Section 16,
Township 14 North, Range 4 West,described to-wit:
Beginning at a point in the center of Houck Road, said point being 148.61 feet North
and 504.54 feet West of the Southeast corner of the Northeast quarter of said Section;
thence North 10 degrees 43 minutes East 150 feet with the centerline of the aforesaid
Houck Road; thence leaving said center line North 79 degrees 17 minutes West 491.85
feet to a point; thence South 02 degrees 02 minutes East 276.29 feet to a point; thence
North 65 degrees 13 minutes 48 seconds East 178.68 feet; thence North 37 degrees 55
minutes 13 seconds East 45.95 feet a point; thence 52 degrees 04 minutes 47 seconds
East 20 feet to a point; thence South 77 degrees 00 minutes 37 seconds East 159.09 feet
to a point;thence South 62 degres 52 minutes 48 seconds East 34 feet to a point; thence
South 79 degrees 12 minutes 58 seconds East 55 f-et to the point of beginning,
containing 1.84 acres, more or less.
3. That the above described real estate is deemed by the Common Council of the City of
Greencastle to be an Economic Development Target Art a within the corporate limits of the
City of Greencastle, Putnam County, Indiana, which as become undesirable for normal
development and occupancy because of lack of d velopment, cessation of growth,
deterioration of improvements, or character of occupancy, age, obsolescence, substandard
buildings, or other factors that have impaired values or prevent a normal development of
property or use of property.
4. That in order to be competitive in attracting new investment to the City of Greencastle,
Indiana, it is imperative that the City offer to persons investing in the above-described area
up to the maximum tax abatement as allowed by law.
5. That the Common Council now ORDAINES that the above-designated area shall be
declared an Economic Development Target Area under the terms and provisions of I.C. 6-
1.1-12.1-7.
6. That the above designated area consists of 1.84 acres which is below the statutory
maximum of 15%of the area of the city or approximat ly 504 acres.
7. That this Ordinance shall be published pursuant to the provisions of I.C. 5-3-1 and a copy
of this Ordinance shall be provided to the Putnam County Assessor's Office for inspection
therein.
8. That after due publication, a public hearing shall be held at the time set forth in the public
notice notifying of the consideration of this Ordinance at which time,this Common Council
shall receive and hear all remonstrances and objections; determine whether or not the
qualifications for an Economic Development Target Area have been met; and take final
action upon this Ordinance.
9. The Economic Development Target Area shall expire on December 31, 2025 or upon the
completion of any real property tax abatement schedule that has been granted by the
Common Council, whichever date is earlier.
10. The Economic Development Target Area shall be nar7d EDTA— Indian Springs—2023-
2 when needed to be referred to in documents related to the area.
This Ordinance shall take effect upon passage by the Common Council and approval by
the Mayor.
PASSED AND ORDAINED by the Common Council of the City of Greencastle at its
regular meeting this 2O day of A pQt u , 2023.
COMMON COUNCIL OF THE CITY OF GREE . ASTLE,INDIANA
Cody E rt Mark fi Ammer
Russell Harvey Stacie Langdon
\J—C, au& V I
e a,, Veronica ejn
Darrel Thomas
Approved and signed by me this ay of / p L,2023 at p.m. o'cl
illiam A.1 ory, ayor
ATTEST:
L da R. Dunbar, Clerk-Treasurer