HomeMy Public PortalAboutResolution 2-2012-29 ® RESOLUTION 2012-29
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. Homelessness
3. Neighborhood Sidewalk Renovation
4. South Street Engineering/Land Acquisition/Construction
5. Maple Berry Park Phase II
6. People Pathway Phase IV Engineering
7. Unsafe Buildings
8. Animal Control
9. Rural Transit
• 10. Economic/Community Development
11. Albin Pond Dam
B. Description
1. EDIT Bond Repayment-Relocation of City Hall $150,000
2. Homelessness $24,000
3. Neighborhood Sidewalk Renovation $300,000
4. South Street Engineering/Land Acquisition/Construction $385,000
5. Maple Berry Park Phase II $125,000
6. People Pathway Phase IV Engineering $85,000
7. Unsafe Buildings $150,000
8. Animal Control $30,000
9. Rural Transit $24,000
10. Economic/Community Development $690,000
11. Albin Pond Dam $10,000
C. Estimated Cost-Total Project Estimate $1,973,000
D. Source of Funds:
County Economic Development Income Tax Funds $1,114,548*
(Estimated at$381,516* per year over a three (e) year time period)
EDIT Balance as of November 30, 2012 $1,539,148
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E. Project Time Schedule
1. EDIT Bond Payment for City Hall $50,000 per year*
2. Homelessness $8,000 per year*
3. Neighborhood Sidewalk Renovation $100,000*
*($100,000 per year)
4. South Street Engineering/Land Acq. /Construction $385,000*
*(2013=$285,000, 2014=$100,000)
5. Maple Berry Park Phase II $125,000 (2013-14)
6. People Pathway Phase IV Engineering $85,000 (2013-14)
7. Unsafe Buildings $50,000 per year*
8. Animal Control $10,000 per year*
9. Rural Transit $8,000 per year*
10. Economic/Community Development $230,000 per year*
11. Albin Pond Dam $10,000 (2013)
a. The above projects require more than 75%of the funds to be distributed over a three
(3) year period beginning with the spring tax installation of 2013.
b. This resolution shall be effective from the date of adoption until January 1, 2016.
c. PASSED AND RESOLVED by the Greencastle Common Council this I It"day of
• Decemb , 2012 at "i.oS o'clock p.m.
Adam ohen msie S. Bingham O
fie
M k N. Hammer hs Rokicki
Y
Terry J. i h
Approved an signed by me this 11 ti' of December, 2012 at 55‘ �j_j o'clock p.m.
Susan V. Murray, Mayor
ATTEST:
yn . Dunbar, Clerk Trea r
eTh