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HomeMy WebLinkAboutCRC-2014-15 Amendment to Resolution/City Center Redev. Area RESOLUTION NO. 2014-15 DECLARATORY RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION AMENDING THE DECLARATORY RESOLUTION AND THE REDEVELOPMENT PLAN FOR THE CITY CENTER REDEVELOPMENT AREA WHEREAS, on January 15, 1998, 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. 3-1998(as subsequently confirmed and previously amended,the"Original Declaratory Resolution"), for the purposes of (a) designating an area known as the City Center Redevelopment Area (the "Redevelopment Area"), as a redevelopment area pursuant to Section 15 of the Act, (b)approving a redevelopment plan for the Redevelopment Area,pursuant to Section 15 of the Act,which plan has subsequently been incorporated into and replaced by an Integrated Economic Development Plan& Amended Redevelopment Plan which applies to the Redevelopment Area(the"Original Plan")that was approved by the Commission; and (c) designating a portion of the Redevelopment Area as an "allocation area" pursuant to Section 39 of the Act, known as the City Center Redevelopment Allocation Area (the "City Center Redevelopment Allocation Area"); and WHEREAS, the Commission now desires to further 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, and(b) remove the area described in Exhibit B hereto from the City Center Redevelopment Allocation Area, and designate such area as its own separate allocation area, known as the "Kent Allocation Area" (clauses (a) through and including (b), collectively, the "2014 Amendments"); and WHEREAS, the Commission has previously caused to be prepared: (a) maps and plats showing the boundaries of the Redevelopment 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 Redevelopment Area,indicating any parcels of property to be excluded from the acquisition, and showing the parts of the Redevelopment 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 15, 16, and 17 of the Act have been created to permit the creation of "redevelopment project areas", and to provide that the Commission may exercise certain rights, powers,privileges and immunities in a redevelopment project area,subject to the conditions set forth in the Act; and WHEREAS,the Commission deems it advisable to apply the provisions of said Sections 15, 16, and 17 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 reaffirms its findings that the Redevelopment Area, including the Kent Allocation Area, is an "an area needing redevelopment" within the meaning of Section 15 of the Act, because it is an area in which normal development and occupancy are undesirable or impossible because of the lack of development, the cessation of growth and the deterioration of improvements in the Redevelopment Area; the character of occupancy, age, and obsolescence of property in the Redevelopment Area; the substandard condition of buildings in the Redevelopment Area;and other factors that impair values or prevent a normal use or development of property in the Redevelopment Area. 2. The Commission further reaffirms its findings that the conditions in the Redevelopment Area described in the Original Plan cannot be corrected by regulatory processes or the ordinary operations of private enterprise without resort to the Act,and that the public health and welfare will be benefited by the acquisition and redevelopment of the Redevelopment Area under the Act. 3. The Commission finds that the public health and welfare will continue to be benefited by the redevelopment of the Redevelopment Area,including the Kent Allocation Area,under the Act as a redevelopment project area. 4. The Commission finds that (a) this Resolution and the 2014 Amendments are reasonable and appropriate when considered in relation to the Original Declaratory Resolution,the Original Plan and the purposes of the Act, and (b) the Original Declaratory Resolution and the Original Plan, as so amended by this Resolution and the 2014 Amendments, conform to any comprehensive plan for the City. 5. The Commission further finds that it will be of public utility and benefit to amend the Original Declaratory Resolution and the Original Plan for the Redevelopment Area. 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 and right-of-way acquisition as a part of the redevelopment strategy,the Commission does not at this time propose to acquire any specific parcel of land or interests in land within the boundaries of the Redevelopment Area. If at any time the Commission 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. 2 8. The Commission finds that no residents of the Redevelopment Area will be displaced by any project resulting from the Plan,and therefore finds that it does not need to give consideration to transitional and permanent provisions for adequate housing for residents of the Redevelopment Area. 9. The area described in Exhibit B hereto as the "Kent Allocation Area" is hereby removed from the City Center Redevelopment Allocation Area, and is hereby designated as its own separate allocation area to be known as the"Kent 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 Kent 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 Kent 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 Kent 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 Kent Allocation Area. The base assessment date for the Kent Allocation Area is March 1, 2014. Tax increment revenues derived from the Kent Allocation Area may be spent for any of the purposes identified in the Original Plan, as supplemented by the Plan Addendum. 10. The Commission hereby finds, as supported by evidence set forth in the Plan Addendum, that the adoption of the allocation provision in Section 9 hereof will result in new property taxes in the Redevelopment Area that would not have been generated but for the adoption of such allocation provisions. 11. 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 Kent Allocation Area. 12. 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. 3 13. 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. 14. The provisions of this Resolution shall be subject in all respects to the Act and any amendments thereto. Adopted the 15th day of September, 2014. CITY OF CARMEL REDEVELOPMENT COMMISSION President Vice President Secretary Member Member 4 CITY CENTER REDEVELOPMENT AREA ADDENDUM TO INTEGRATED ECONOMIC DEVELOPMENT PLAN & AMENDED REDEVELOPMENT PLAN September 15, 2014 Background On January 15, 1998, the City of Carmel Redevelopment Commission (the "Commission'), adopted its Resolution No. 3-1998 (as subsequently confirmed and previously amended, the "Original Declaratory Resolution"), for the purposes of (a) designating an area known as the City Center Redevelopment Area (the "Redevelopment Area"), as a redevelopment area pursuant to Section 15 of the Indiana Code 36-7-14, as amended (the "Act), (b) approving a redevelopment plan for the Redevelopment Area, pursuant to Section 15 of the Act, which plan has subsequently been incorporated into and replaced by an Integrated Economic Development Plan & Amended Redevelopment Plan which applies to the Redevelopment Area (the "Original Plan") that was approved by the Commission; and (c) designating a portion of the Redevelopment Area as an "allocation area" pursuant to Section 39 of the Act, known as the City Center Redevelopment Allocation Area (the "City Center Redevelopment Allocation Area"). A description of the boundaries of the Redevelopment Area and the City Center Redevelopment Allocation Area are attached as exhibits to the Original Declaratory Resolution. The purpose of this Addendum to the Integrated Economic Development Plan & Amended Redevelopment Plan for the Redevelopment Area (the "Plan Addendum") is to expand the scope of projects to be undertaken by the Commission within the Redevelopment Area, as more particularly described in Appendix A hereto. Simultaneously with the consideration of this Plan Addendum, the Commission is expected to identify a portion of the existing City Center Redevelopment Allocation Area which is to be removed therefrom and designated as its own separate allocation area to be known as the "Kent Allocation Area" (the "New Allocation Area"). A map of the Redevelopment Area and the proposed New Allocation Area is attached as Appendix B hereto. Specifically, this Plan Addendum supplements the Original Plan by identifying the projects that are proposed to be undertaken by the Commission within the proposed New Allocation Area in order to help remedy the conditions so identified in the specific findings of fact set forth in the Original Plan and setting forth an estimate of the costs of such additional projects. APPENDIX A Additional Projects Based upon negotiations with one or more private developers that are considering certain proposed development projects within the Redevelopment Area, the Commission believes that there is a substantial likelihood of significant new private investment in the Redevelopment Area which will result in major capital improvements to property located in the New Allocation Area. As part of such anticipated development, the Commission expects that certain local public improvements will be required to support such new private investment in the New Allocation Area. A summary of the proposed additional local public improvement projects and estimated costs thereof are set forth below. Therefore, the Commission reasonably believes that (a) these proposed additional projects are necessary and appropriate in order to help remedy the conditions so identified in the specific findings of fact set forth in the Original Plan and to further development within the City of Carmel, Indiana, in accordance with the Act, (b) such proposed new private investment will result in new property taxes in the Redevelopment Area, and (c) such new property taxes in the Redevelopment Area would not be generated but for the establishment of the New Allocation Area. The additional projects consist of the construction, renovation, improvement and equipping of additional local public improvements in the Redevelopment Area, including, without limitation (a) landscaping and streetscaping projects, (b) lighting upgrades, (c) roads, streets, sidewalks and other public ways, (d) parking facilities, (e) improvements, upgrades, repairs and/or relocation of water, sewer, drainage or other utility infrastructure, (f) site work and preparation to support mixed use development generally to be located in the Redevelopment Area, and (g) other necessary public infrastructure to be located in the Redevelopment Area. Such additional local public improvements may include the following specific projects with the following current estimated costs: Potential Projects Estimated Cost Roads, streets, sidewalks and other public ways adjacent to or $855,171 serving the existing or proposed Kent Building In addition, pursuant to Resolution No. 2014-14, anticipated to be adopted by the Commission on September 15, 2014, the Commission anticipates financing certain additional projects, improvements or purposes in the Carmel Downtown Economic Development Area. Pursuant to Indiana Code 36-7-25-3, as amended, the Commission hereby finds and determines that such additional projects, improvements or purposes to be located in the Carmel Downtown Economic Development Area will directly serve or benefit the Redevelopment Area. Therefore, this Plan Addendum contemplates that incremental property tax revenues derived from the New Allocation Area may be used to pay for all or any portion of the costs of such additional projects, improvements or purposes to be located in the Carmel Downtown Economic Development Area. A-1 APPENDIX B Map of Redevelopment Area and New Allocation Area (attached) INDSOI BJB 1474519v2 B-1 • APPENDIX B l ' ,:, ........„.....„.:„....„_, ,..,• i , •:: i i Li:, : ',9 1 4" 1 ?"....1,...,,',..-''''''' `...C.,- .- ' Ix,.—,-:": :: , „."15-itirodio,.. x i__ t �. ,mod c "i , 3 .y. 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