CRC Resolution 07-14-14 unsigned RESOLUTION NO.
RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION
AMENDING THE DECLARATORY RESOLUTION FOR THE OLD MERIDIAN
ECONOMIC DEVELOPMENT AREA
WHEREAS,the City of Carmel Redevelopment Commission(the"Commission")pursuant to
IC 36-7-14 (the "Act") serves as the governing body of the City of Carmel Redevelopment District
(the "District"); and
WHEREAS,the Commission has previously adopted and confirmed resolutions(collectively,
the"Declaratory Resolution")which established and expanded an economic development area known
as the"Old Meridian Economic Development Area"(the"Economic Development Area"),designated
the Economic Development Area and expansion thereto as an allocation area pursuant to Section 39
of the Act (as expanded, the "Old Meridian Street Allocation Area") and approved a development
plan for the Economic Development Area(the "Plan")pursuant to the Act; and
WHEREAS,the Commission now desires to amend the Declaratory Resolution and Plan(i)to
remove the area described on Exhibit A attached hereto from the Old Meridian Street Allocation
Area, (ii) to designate the area described on Exhibit A attached hereto as a separate allocation area
pursuant to Section 39 of the Act to be known as the Grand&Main Allocation Area(the"Grand&
Main Allocation Area"), and(iii)to adopt a supplement to the Plan attached hereto as Exhibit B (the
"2014 Plan Supplement") (clauses (i), (ii) and (iii), collectively, the "2014 Amendments"); and
WHEREAS,the 2014 Amendments and supporting data were reviewed and considered at this
meeting; and
WHEREAS, Sections 41 and 43 of the Act permit the creation of"economic development
areas" and provide that all of the rights,powers,privileges and immunities that may be exercised by
this Commission in a redevelopment area or urban renewal area may be exercised in an economic
development area, subject to the conditions set forth in the Act; and
WHEREAS, this Commission deems it advisable to apply the provisions of said Sections 41
and 43 of the Act to the 2014 Amendments; and
WHEREAS, the Commission now desires to approve the 2014 Amendments.
NOW, THEREFORE, BE IT RESOLVED by the City of Carmel Redevelopment
Commission, governing body of the City of Carmel Redevelopment District, as follows:
1. It will be of public utility and benefit to amend the Declaratory Resolution and the Plan
for the Economic Development Area as provided in the 2014 Amendments and to continue to
develop the Economic Development Area, including the Grand &Main Allocation Area, under the
Act.
2. The Declaratory Resolution and the Plan, as amended by this Resolution and the 2014
Plan Supplement, conform to the comprehensive plan of development for the City.
3. The 2014 Amendments are reasonable and appropriate when considered in relation to
the Declaratory Resolution and Plan and the purposes of the Act.
4. The findings and determinations set forth in the Declaratory Resolution and the Plan
are hereby reaffirmed.
5. In support of the findings and determinations set forth in Sections 1 through 4 above,
the Commission hereby adopts the specific findings set forth in the 2014 Plan Supplement.
6. The Commission does not at this time propose to acquire any specific parcel of land or
interests in land within the boundaries of the Grand & Main Allocation Area. If at any time the
Commission proposes to acquire specific parcels of land, the required procedures for amending the
Plan, as amended by the 2014 Plan Supplement, under the Act will be followed, including notice by
publication to affected property owners and a public hearing.
7. The Commission finds that no residents of the Economic Development Area will be
displaced by any project resulting from the 2014 Plan Supplement, and therefore finds that it does not
need to give consideration to transitional and permanent provision for adequate housing for the
residents.
8. The 2014 Amendment is hereby in all respects approved.
9. The area described in Exhibit A is hereby removed from the Old Meridian Street
Allocation Area, and is hereby designated as a separate "allocation area"pursuant to Section 39 of
the Act to be known as the "Grand & Main Allocation Area," for purposes of the allocation and
distribution of property taxes for the purposes and in the manner provided by said Section. Any taxes
imposed under I.C. 6-1.1 on real property subsequently levied by or for the benefit of any public body
entitled to a distribution of property taxes on taxable property in said allocation area shall be allocated
and distributed as follows:
Except as otherwise provided in said Section 39, the proceeds of taxes
attributable to the lesser of the assessed value of the property for the assessment date
with respect to which the allocation and distribution is made, or the base assessed
value, shall be allocated to and when collected paid into the funds of the respective
taxing units. Except as otherwise provided in said Section 39,property tax proceeds
in excess of those described in the previous sentence shall be allocated to the
redevelopment district and when collected paid into an allocation fund for the
Allocation Area hereby designated as the"Grand&Main Allocation Fund"and may
be used by the redevelopment district to do one or more of the things specified in
Section 39(b)(3) of the Act, as the same may be amended from time to time. Said
allocation fund may not be used for operating expenses of the Commission. Except as
otherwise provided in the Act,before July 15 of each year,the Commission shall take
the actions set forth in Section 39(b)(4) of the Act.
10. The foregoing allocation provision shall apply to all of the Grand&Main Allocation
Area. The Commission hereby finds that the adoption of this allocation provision will result in new
property taxes in the Grand&Main Allocation Area that would not have been generated but for the
adoption of the allocation provision, as specifically evidenced by the findings set forth in Exhibit B
hereto. The base assessment date for the Grand & Main Allocation area is March 1, 2014.
11. The provisions of this Resolution shall be subject in all respects to the Act and any
amendments thereto, and the allocation provisions herein relating to the Allocation Area shall expire
on the date that is twenty-five(25)years after the date on which the first obligation is incurred to pay
principal and interest on bonds or lease rentals on leases payable from tax increment revenues derived
from the Grand & Main Allocation Area.
12. This Resolution, together with any supporting data, shall be submitted to the City of
Carmel Plan Commission (the "Plan Commission") and the Common Council of the City (the
"Council") as provided in the Act, and if approved by the Plan Commission and the Council, shall be
submitted to a public hearing and remonstrance as provided by the Act, after public notice as required
by the Act.
Adopted the 14'' day of July, 2014.
CITY OF CARMEL REDEVELOPMENT
COMMISSION
President
Vice President
Secretary
Member
Member
EXHIBIT A
Description of the Grand & Main Allocation Area
LEGAL DESCRIPTIONS:
PARCEL 1 IOM LAND HOLDINGS,LLC1
A PART OF THE SOUTHEAST QUARTER OF SECTION 26,TOWNSHIP 18 NORTH,RANGE 3 EAST,CLAYTOWNSHIP,HAMILTON
COUNTY, INDIANA,MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE NORTHEAST CORNER OF SAID QUARTER SECTION;THENCE SOUTH 89 DEGREES 08 MINUTES 21
SECONDS WEST 1,036.75 FEET ALONG THE NORTH LINE OF SAID QUARTER SECTION TO THE NORTHEAST CORNER OF
REAL ESTATE DESCRIBED IN INSTRUMENT NUMBER 2006-00033639 IN THE OFFICE OF THE RECORDER OF HAMILTON
COUNTY,INDIANAALSO BEING THE POINT OF BEGINNING OF THIS DESCRIPTION;THENCE SOUTH 00 DEGREES 18MINUTES
29 SECONDS EAST 279.88 FEET ALONG THE EAST LINE TO A POINT ON THE NORTH LINE OF REAL ESTATE DESCRIBED IN
INSTRUMENT NUMBER 2006-00033637 IN SAID RECORDER'S OFFICE;THENCE NORTH 89 DEGREES 08 MINUTES 21 SECONDS
EAST 754.18 FEET PARALLEL WITH SAID NORTH LINE TO THE WESTERLY RIGHT-OF-WAY LINE OF OLD MERIDIAN STREET
(FORMERLY U.S. HIGHWAY 31);THENCE SOUTH 35 DEGREES 39 MINUTES 16 SECONDS WEST 1,291.83 FEET ALONG SAID
WESTERLY RIGHT-OF-WAY LINE TO THE SOUTH LINE OF THE NORTH HALF OF THE SOUTHEAST QUARTER SECTION;
THENCE SOUTH 89 DEGREES 05 MINUTES 47 SECONDS WEST 632.98 FEET ALONG SAID SOUTH LINE TOTHE WEST LINE OF
THE 10 ACRE TRACT DESCRIBED IN INSTRUMENT NUMBER 2003-97403 IN SAID RECORDER'S OFFICE;THENCE NORTH 00
DEGREES 12 MINUTES 48 SECONDS WEST 700.00 FEET PARALLEL WITH THE EAST LINE OF THE NORTHEAST QUARTER OF
THE SOUTHEAST QUARTER SECTION TO THE NORTH LINE OF TRACT 7 DESCRIBED IN INSTRUMENT NUMBER 2006-00033643
IN SAID RECORDER'S OFFICE;THENCE NORTH 89 DEGREES 05 MINUTES 47 SECONDS EAST 309.02 FEET PARALLELTO SAID
SOUTH LINE TO THE WEST LINE OF TRACT 11 DESCRIBED IN INSTRUMENT NUMBER 2006-00033647 IS SAID RECORDER'S
OFFICE; THENCE NORTH 00 DEGREES 53 MINUTES 21 SECONDS EAST 338.76 FEET ALONG SAID WEST LINE AND
PROLONGED WEST LINE TO THE SOUTHWEST CORNER OF TRACT 1 (AKA:TRACT 3AS RECORDED IN INST.NO.:1996-26849);
THENCE NORTH 00 DEGREES 18 DEGREES 29 SECONDS WEST 279.88 FEET ALONG THE WEST LINE OF TRACT 1 AS
DESCRIBED IN INSTRUMENT NUMBER 2006-00033637 IN SAID RECORDER'S OFFICE TO THE NORTH LINE OF SAID QUARTER
SECTION; THENCE NORTH 89 DEGREES 08 MINUTES 21 SECONDS EAST 315.00 FEET ALONG SAID NORTH LINE TO THE
PLACE OF BEGINNING CONTAINING 23.624 ACRES,MORE OR LESS.
PARCEL 2(BOOMERANG DEVELOPMENT,LLC1
A PART OF THE SOUTHEAST QUARTER OF SECTION 26,TOWNSHIP 18 NORTH,RANGE 3 EAST,CLAYTOWNSHIP,HAMILTON
COUNTY, INDIANA,MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE NORTHEAST CORNER OF SAID QUARTER SECTION;THENCE SOUTH 89 DEGREES 08 MINUTES 21
SECONDS WEST 1,351.75 FEET ALONG THE NORTH LINE OF SAID QUARTER SECTION TO THE NORTHEAST CORNER OF
REAL ESTATE DESCRIBED IN INSTRUMENT NUMBER 2005-00019281 IN THE OFFICE OF THE RECORDER OF HAMILTON
COUNTY,INDIANAALSO BEING THE POINT OF BEGINNING OF THIS DESCRIPTION;THENCE SOUTH 00 DEGREES 18MINUTES
29 SECONDS EAST 279.88 FEET ALONG THE WEST LINE TO A POINT ON THE NORTH LINE OF REAL ESTATE DESCRIBED IN
INSTRUMENT NUMBER 2006-00033637 IN SAID RECORDER'S OFFICE;THENCE SOUTH 00 DEGREES 53 MINUTES 21 SECONDS
WEST 338.76 FEET ALONG SAID WEST LINE AND PROLONGED WEST LINE TO THE SOUTHWEST CORNER OF TRACT 11 AS
DESCRIBED IN INSTRUMENT NUMBER 2006-00033647 IN SAID RECORDER'S OFFICE AND TO THE NORTH LINE OF REAL
ESTATE DESCRIBED IN INSTRUMENT NUMBER 2006-00033643 IN SAID RECORDER'S OFFICE;THENCE SOUTH 89 DEGREES 05
MINUTES 47 SECONDS WEST 309.02 FEET ALONG SAID NORTH LINE TO THE WEST LINE OF A 10 ACRE TRACT;THENCE
NORTH 00 DEGREES 12 MINUTES 48 SECONDS EAST 618.81 FEET ALONG SAID WEST LINE OF SAID 10 ACRE TRACT
PARALLEL WITH THE WEST LINE OF THE NORTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION TOTHE
NORTH LINE OF SAID QUARTER QUARTER; THENCE NORTH 89 DEGREES 08 MINUTES 21 SECONDS EAST 310.47 FEET
ALONG SAID NORTH LINE TO THE TO THE PLACE OF BEGINNING CONTAINING 4.421 ACRES,MORE OR LESS.
PARCEL 3(HEATHC0)
PART OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SECTION TWENTY-SIX(26),TOWN EIGHTEEN(18)NORTH,
RANGE THREE(3)EAST, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT IN THE NORTH LINE THEREOF DISTANT EAST SIX HUNDRED NINETY-NINE(699)FEET OF THE
NORTHWEST CORNER THEREOF,THENCE SOUTH THREE HUNDRED(300)FEET,THENCE EAST ONE HUNDRED(100)
FEET,THENCE NORTH THREE HUNDRED(300)FEET,THENCE WEST ONE HUNDRED(100)FEET TO THE PLACE OF
BEGINNING.
PARCEL 4(SIMMERMAN)
LAND IN HAMILTON COUNTY,STATE OF INDIANA, BEING PART OF THE WEST HALF OF THE SOUTHEAST QUARTER OF
SECTION 26,TOWNSHIP 18 NORTH, RANGE 3 EAST, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT IN THE NORTH LINE THEREOF DISTANT EAST 799 FEET OF THE NORTHWEST CORNER
THEREOF;THENCE SOUTH 300 FEET,THENCE EAST 100 FEET,THENCE NORTH 300 FEET,THENCE WEST 100 FEET TO
THE PLACE OF BEGINNING.
ADDRESSES AND PARCEL NUMBERS:
Boomerang Development, LLC
Site Address: 1335 West Main Street
Parcel Number: 17-09-26-04-01-008.000
Site Address: 0 West Main Street
Parcel Number: 17-09-26-04-01-009.000
Site Address: 1325 West Main Street
Parcel Number: 17-09-26-04-01-010.000
OM Land Holdings, LLC
Site Address: 1314 West Main Street
Parcel Number: 17-09-26-04-01-011.000
Site Address: 1305 West Main Street
Parcel Number: 17-09-26-04-01-012.000
Site Address: 0 West Main Street
Parcel Number: 17-09-26-04-01-013.000
Site Address: 0 Old Meridian Street
Parcel Number: 17-09-26-04-01-022.000
Site Address: 12908 Old Meridian Street
Parcel Number: 17-09-26-04-01-023.000
Site Address: 0 Old Meridian Street
Parcel Number: 17-09-26-04-01-024.000
Site Address: 12902 Old Meridian Street
Parcel Number: 17-09-26-04-01-025.000
Site Address: 12890 Old Meridian Street
Parcel Number: 17-09-26-04-01-026.000
Parcel Number: 17-09-26-04-01-027.000
Site Address: 12852 Old Meridian Street
Parcel Number: 17-09-26-04-01-028.000
Parcel Number: 16-09-26-04-01-030.000
Site Address: 0 Old Meridian Street
Parcel Number: 16-09-26-04-01-029.000
Parcel Number: 16-09-26-04-01-031.000
Site Address: 12840 Old Meridian Street
Parcel Number: 17-09-26-04-01-032.000
Heathco, Richard T. & Marilyn
Site Address: 1411 West Main Street
Parcel Number: 17-09-26-04-01-005.000
Simmerman, Harry L. Family Trust
Site Address: 1403 West Main Street
Parcel Number: 17-09-26-04-01-006.000
The Grand & Main Allocation Area also includes any and all public rights of way that physically
connect any of the above described parcels.
EXHIBIT B
2014 Plan Supplement
The Plan is hereby supplemented by adding the following projects to the Plan:
The design and construction of public streets,including the extension of Grand Boulevard and
the potential contribution to Main Street improvements as well as on-site Urban Collector Streets as
required by the Carmel Clay Comprehensive Plan, and the design and construction of a parking
structure, all to support a proposed mixed use development generally to be located in the southeast
quadrant of the intersection of Main Street and Grand Boulevard,in the City of Carmel,Indiana. The
estimated cost of these improvements is $10,300,000.
Based on representations of the developer of the mixed use project, the Commission has
determined that the development will not proceed as planned without the contribution of tax
increment revenues to be derived from the Grand&Main Allocation Area to the projects described
above.
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