HomeMy WebLinkAboutCRC-2014-07 TIF Revenue of EDA Area RESOLUTION NO. 2.0/t/ 7
RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION OF ITS
DETERMINATION.OF NEED TO CAPTURE TAX INCREMENT REVENUES
WHEREAS, the City of Carmel Redevelopment Commission (the "Commission") previously has
established and expanded the Economic Development Areas, see attached Exhibit A (the"Economic Development
Areas"), and designated the Economic Development Areas as the "Allocation Areas", see attached Exhibit A (the
"Allocation Areas") for purposes of capturing incremental property taxes(the"TIF Revenues") pursuant to Indiana
Code 36-7-14-39 and IC 36-7-14-39.3;and
WHEREAS,under IC 36-7-14-39(b)(3)the Commission is required to make certain determinations relating
to its need to capture TIF Revenues for the following budget year.
WHEREAS, The Secretary of the Commission will provide the required communication notifying the
taxing units impacted by the Economic Development Areas,as detailed in Exhibit B, of the Commissions intent to
capture all of the available TIF Revenues for budget year 2015.
NOW, THEREFORE, BE IT RESOLVED by the Commission, governing body of the.City of Carmel
Department of Redevelopment,as follows:
1. Pursuant to IC 36-7-14-39(b)(3), the Commission hereby makes the determination that,for budget year
2015, all of the incremental assessed value of taxable property in the Allocation Areas is needed to produce TIF
Revenues necessary to make, when due,principal and interest payments on bonds issued or to be issued pursuant to
IC 36-7-14-39(b)(2), plus the amount necessary for other purposes described in IC 36-7-14-39(b)(2). The
Commission therefore determines that there is no excess assessed value in the Allocation Areas that may be released
to the respective units in the manner prescribed in IC 36-7-14-39(b)(1).
2. The Commission hereby directs the Secretary of the Commission to provide written notifications of the
determinations made herein to the Hamilton County Auditor, the Hamilton.County Council, Carmel City Council,
and each taxing unit that is wholly or partly located within the Allocation Areas, in the manner set forth in IC 36-7-
14-39(b)(3)(B).
3.This Resolution shall take effect immediately upon adoption.
ADOPTED by the Commission this 18th day of June 2014.
CITY OF• MEL REDE :`OPMENT COMMISSION
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Exhibit A
Economic Development Area Allocation Area
116th Street Center 1 116th Street Center
Amended 126th Street Amended 126th Street
Amended 126th Street Expansion
Amended Illinois Street Amended Illinois Street
Arts District Lofts and Shoppes Arts District Lofts and Shoppes
Carmel City Center Cannel City Center
Cannel City Center Amended
Cannel Downtown EDA 1 Cannel Downtown EDA I
Cannel Downtown EDA 2 Cannel Downtown EDA 2
Carmel Drive Carmel Drive
CRC Parcel 12 CRC Parcel 12
Gramercy Gramercy
Gunstra Gunstra
Hazel Dell North Hazel Dell North
Hazel Dell South Hazel Dell South
Lauth-Walker Lauth-Walker
Legacy Legacy
Lurie Lurie
Merchants Pointe Merchants Pointe
2006 Merchants Pointe TIF
Merchants Square Merchants Square
Meridian& Main Meridian&Main
Exhibit B
Distribution List
• Township.Board of Clay Township
c/o Douglas Callahan, Trustee
10701 North College Avenue, Suite B
Indianapolis, Indiana 46280
• Hamilton County Solid Waste Management District Board.
c/o Jim Belden, President
33 North 9th Street, Suite L21
Noblesville, Indiana 46060
• City Council of the City of Carmel
c/o Diana L. Cordray, Clerk-Treasurer
Carmel City Hall, Third Floor
One Civic Square
Carmel, Indiana 46032
• Carmel Clay Public Library Board
c/o Wendy A. Phillips, Director
55 4th Avenue SE
Carmel, Indiana 46032
• Carmel-Clay School Corporation Board of Trustees
c/o Dr.Nicholas Wahl, Superintendent
5201 East Main Street(131 S`)
Carmel, Indiana 46033
• Hamilton County Council
c/o Brad Beaver, Council President
1 Hamilton County Square, Suite 157
Noblesville, Indiana 46060
• Dawn Coverdale
Hamilton County Auditor
33 North 9th Street, Suite L21
Noblesville, Indiana 46060