HomeMy WebLinkAboutCRC-2014-14 Amendment to the ECD Downtown Area RESOLUTION NO. 2014-14
DECLARATORY RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT
COMMISSION AMENDING THE DECLARATORY RESOLUTION AND THE
ECONOMIC DEVELOPMENT PLAN FOR THE CARMEL DOWNTOWN
ECONOMIC DEVELOPMENT AREA
WHEREAS, on May 17, 2005, the City of Carmel Redevelopment Commission (the
"Commission"), as the governing body for the City of Carmel Redevelopment Department (the
"Department"),pursuant to Indiana Code 36-7-14,as amended(the"Act),adopted its Resolution No.
6-2005 (as subsequently confirmed by Resolution No. 7-2005, adopted on July 19, 2005, the
"Original Declaratory Resolution"),for the purposes of(a)designating an area known as the Carmel
Downtown Economic Development Area (the "Economic Development Area"), as an economic
development area pursuant to Sections 41 and 43 of the Act, (b) approving an economic
development plan for the Economic Development Area,pursuant to Sections 15 and 41 of the Act,
known as the Carmel Downtown Economic Development Plan,dated April 25,2005 (the"Original
Plan"), (c)designating a portion of the Economic Development Area as an"allocation area"pursuant
to Section 39 of the Act, known as the Carmel Downtown Allocation Area No. 1 (the "Carmel
Downtown Allocation Area No. 1"), and (d) designating a portion of the Economic Development
Area as an "allocation area" pursuant to Section 39 of the Act, known as the Carmel Downtown
Allocation Area No. 2 (the "Carmel Downtown Allocation Area No. 2"); and
WHEREAS,the Commission now desires to amend the Original Declaratory Resolution and
the Original Plan to (a) incorporate into the Original Plan an addendum thereto (the "Plan
Addendum")in the form presented to this meeting and attached as Exhibit A hereto, (b)remove the
area described in Exhibit B hereto from the Carmel Downtown Allocation Area No. 1,and designate
such area as its own separate allocation area, known as the "Carmel Downtown Economic
Development Area No. 3," (c) remove the area described in Exhibit C hereto from the Carmel
Downtown Allocation Area No. 1, and designate such area as its own separate allocation area,
known as the"Motor Court East Allocation Area,"(d)remove the area described in Exhibit D hereto
from the Carmel Downtown Allocation Area No. 1, and designate such area as its own separate
allocation area, known as the "Motor Court West Allocation Area", and (e) remove the area
described in Exhibit E hereto from the Carmel Downtown Allocation Area No.2,and designate such
area as its own separate allocation area,known as the"Pedcor Office 5 Allocation Area" (clauses(a)
through and including (e), collectively, the "2014 Amendments"); and
WHEREAS, the Commission has previously caused to be prepared: (a) maps and plats
showing the boundaries of the Economic Development Area, the location of the various parcels of
property,streets,alleys and other features affecting the acquisition,clearance,replatting,replanning,
rezoning or redevelopment of the Economic Development Area,indicating any parcels of property to
be excluded from the acquisition, and showing the parts of the Economic Development Area
acquired that are to be devoted to public ways, levees, sewerages, parks, playgrounds and other
public purposes under the Original Plan; and(b)an estimate of the costs of the development projects
as set forth in the Original Plan; and
WHEREAS,the 2014 Amendments and supporting data were reviewed and considered at this
meeting; and
WHEREAS, Section 39 of the Act has been created and amended to permit the creation of
"allocation areas"to provide for the allocation and distribution of property taxes for the purposes and
in the manner provided in said section; and
WHEREAS, Sections 41 and 43 of the Act have been created to permit the creation of
"economic development areas" and to provide that all of the rights, powers, privileges and
immunities that may be exercised by this Redevelopment 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 Redevelopment Commission deems it advisable to apply the provisions of
said Sections 41 and 43 of the Act to the 2014 Amendments.
NOW, THEREFORE, BE IT RESOLVED by the City of Carmel Redevelopment
Commission, as the governing body of the City of Carmel Redevelopment Department, as follows:
1. The Commission hereby finds that the 2014 Amendments promote significant
opportunities for the gainful employment of the citizens of the City of Carmel,Indiana(the"City"),
attraction of major new business enterprises to the City, retention and expansion of significant
business enterprises existing in the boundaries of the City,and meets other purposes of Sections 2.5,
41 and 43 of the Act, including without limitation benefiting public health, safety and welfare,
increasing the economic well being of the City and the State of Indiana, and serving to protect and
increase property values in the City and the State.
2. The Commission hereby finds that the 2014 Amendments cannot be achieved by
regulatory processes or by the ordinary operation of private enterprise without resort to the powers
allowed under Sections 2.5, 41 and 43 of the Act because of lack of local public improvement,
existence of conditions that lower the value of the land below that of nearby land, multiple
ownership of land, and other similar conditions.
3. The Commission hereby finds that the public health and welfare will be benefited by
accomplishment of the 2014 Amendments.
4. The Commission hereby finds that the accomplishment of the 2014 Amendments will
be a public utility and benefit as measured by the attraction or retention of permanent jobs, an
increase in the property tax base, improved diversity of the economic base and other similar public
benefits, and therefore it will be of public utility and benefit to amend the Original Plan to
incorporate the Plan Addendum and adopt the 2014 Amendments.
5. The Commission hereby finds that the Plan Addendum conforms to other
development and redevelopment plans for the City.
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6. In support of the findings and determinations set forth in Sections 1 through 5 above,
the Commission hereby adopts the specific findings set forth in the Original Plan, as supplemented
by the Plan Addendum (collectively, the "Plan"), and the Plan Addendum is hereby in all respects
approved.
7. While the Plan contemplates the possibility of property acquisition as a part of the
economic development strategy,the Department does not at this time propose to acquire any specific
parcel of land or interests in land within the boundaries of the Economic Development Area. At the
time the Department proposes to acquire specific parcels of land, the required procedures for
amending the Plan under the Act will be followed, including notice by publication and to affected
property owners and a public hearing.
8. The Redevelopment Commission finds that no residents of the Economic
Development Area or the City will be displaced by any project resulting from the Plan Addendum,
and therefore finds that it does not need to give consideration to transitional and permanent
provisions for adequate housing for the residents.
9. The Commission hereby finds and determines that the 2014 Amendments are
reasonable and appropriate when considered in relation to the Original Plan and the purposes of the
Act, and that the Plan Addendum conforms to the comprehensive plan for the City.
10. The area described in Exhibit B hereto as the "Carmel Downtown Allocation Area
No. 3" is hereby removed from the Carmel Downtown Allocation Area No. 1, and is hereby
designated as its own separate allocation area to be known as the "Carmel Downtown Allocation
Area No. 3" pursuant to Section 39 of the Act for purposes of the allocation and distribution of
property taxes for the purposes and in the manner provided by said Section 39. Any real property
taxes subsequently levied by or for the benefit of any public body entitled to a distribution of
property taxes on taxable property in the Carmel Downtown Allocation Area No.3 shall be allocated
and distributed as follows:
Except as otherwise provided in said Section 39,the proceeds of taxes attributable to
the lesser of(a) the assessed value of the property for the assessment date with respect to
which the allocation and distribution is made, or (b) 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 Cannel Downtown Allocation Area No. 3 that may be
used by the redevelopment district only to do one or more of the things specified in Section
39(b)(2) 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)(3) of the Act. The foregoing allocation provisions shall apply to all of the
Carmel Downtown Allocation Area No. 3 and 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
Carmel Downtown Allocation Area No. 3. The base assessment date for the Carmel
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Downtown Allocation Area No. 3 is March 1, 2014. Tax increment revenues derived from
the Carmel Downtown Allocation Area No. 3 may be spent for any of the purposes identified
in the Original Plan, as supplemented by the Plan Addendum.
11. The area described in Exhibit C hereto as the"Motor Court East Allocation Area"is
hereby removed from the Carmel Downtown Allocation Area No. 1,and is hereby designated as its
own separate allocation area to be known as the "Motor Court East Allocation Area" pursuant to
Section 39 of the Act for purposes of the allocation and distribution of property taxes for the
purposes and in the manner provided by said Section 39. Any real property taxes subsequently
levied by or for the benefit of any public body entitled to a distribution of property taxes on taxable
property in the Motor Court East 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 (a) the assessed value of the property for the assessment date with respect to
which the allocation and distribution is made, or (b) 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 Motor Court East Allocation Area that may be used by
the redevelopment district only to do one or more of the things specified in Section 39(b)(2)
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)(3)of the Act. The foregoing allocation provisions shall apply to all of the Motor Court
East Allocation Area and 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 Motor Court East Allocation
Area. The base assessment date for the Motor Court East Allocation Area is March 1,2014.
Tax increment revenues derived from the Motor Court East Allocation Area may be spent for
any of the purposes identified in the Original Plan,as supplemented by the Plan Addendum.
12. The area described in Exhibit D hereto as the"Motor Court West Allocation Area"is
hereby removed from the Carmel Downtown Allocation Area No. 1,and is hereby designated as its
own separate allocation area to be known as the "Motor Court West Allocation Area" pursuant to
Section 39 of the Act for purposes of the allocation and distribution of property taxes for the
purposes and in the manner provided by said Section 39. Any real property taxes subsequently
levied by or for the benefit of any public body entitled to a distribution of property taxes on taxable
property in the Motor Court West 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(a) the assessed value of the property for the assessment date with respect to
which the allocation and distribution is made, or (b) 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 Motor Court West Allocation Area that may be used by
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the redevelopment district only to do one or more of the things specified in Section 39(b)(2)
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)(3)of the Act. The foregoing allocation provisions shall apply to all of the Motor Court
West Allocation Area and 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 Motor Court West
Allocation Area. The base assessment date for the Motor Court West Allocation Area is
March 1,2014. Tax increment revenues derived from the Motor Court West Allocation Area
may be spent for any of the purposes identified in the Original Plan, as supplemented by the
Plan Addendum.
13. The area described in Exhibit E hereto as the "Pedcor Office 5 Allocation Area" is
hereby removed from the Carmel Downtown Allocation Area No. 2, and is hereby designated as its
own separate allocation area to be known as the "Pedcor Office 5 Allocation Area" pursuant to
Section 39 of the Act for purposes of the allocation and distribution of property taxes for the
purposes and in the manner provided by said Section 39. Any real property taxes subsequently
levied by or for the benefit of any public body entitled to a distribution of property taxes on taxable
property in the Pedcor Office 5 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(a) the assessed value of the property for the assessment date with respect to
which the allocation and distribution is made, or (b) 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 Pedcor Office 5 Allocation Area that may be used by the
redevelopment district only to do one or more of the things specified in Section 39(b)(2) 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)(3)of the Act. The foregoing allocation provisions shall apply to all of Pedcor Office 5
Allocation Area and 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 Pedcor Office 5 Allocation
Area. The base assessment date for the Pedcor Office 5 Allocation Area is March 1, 2014.
Tax increment revenues derived from the Pedcor Office 5 Allocation Area may be spent for
any of the purposes identified in the Original Plan, as supplemented by the Plan Addendum.
14. The Commission hereby finds, as supported by evidence set forth in the Plan
Addendum, that the adoption of the allocation provisions in Sections 10, 11, 12 and 13 hereof will
result in new property taxes in the Economic Development Area that would not have been generated
but for the adoption of such allocation provisions.
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15. Each officer of the Commission is hereby authorized and directed to make any and all
required filings with the Indiana Department of Local Government Finance and the Hamilton County
Auditor in connection with the Carmel Downtown Allocation Area No. 3, the Motor Court East
Allocation Area, the Motor Court West Allocation Area and the Pedcor Office 5 Allocation Area.
16. This Resolution shall be submitted to the Plan Commission and the Common Council
as provided in the Act, and if approved by the Plan Commission and the Common Council shall be
submitted to a public hearing and remonstrance as provided by the Act, after public notice as
required by the Act.
17. The officers of the Commission are hereby authorized to make all filings necessary or
desirable to carry out the purposes and intent of this Resolution.
18. The provisions of this Resolution shall be subject in all respects to the Act and any
amendments thereto.
Adopted the 15`h day of September, 2014.
CITY OF CARMEL REDEVELOPMENT
COMMISSION
President
Vice President
Secretary
Member
Member
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EXHIBIT A
Plan Addendum
(attached)
A-1
