HomeMy WebLinkAboutCC-12-15-14-03 Downtown EDA; Designating Motor Ct East and West; Pedcor Office 5 Sponsors: Councilors Seidensticker and Rider
RESOLUTION CC-12-15-14-03
(FORMERLY CC-10-06-14-03)
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL,
INDIANA,APPROVING CERTAIN MATTERS IN CONNECTION WITH THE
CARMEL DOWNTOWN ECONOMIC DEVELOPMENT AREA
WHEREAS, the City of Carmel Redevelopment Commission (the "Redevelopment
Commission"), as the governing body for the City of Carmel Redevelopment Department,
pursuant to Indiana Code 36-7-14, as amended (the "Act), previously adopted a Declaratory
Resolution on May 17, 2005, as subsequently confirmed following a public hearing (the
"Original Declaratory Resolution"), for the purpose of (a) designating an area known as the
Carmel Downtown Economic Development Area (the "Economic Development Area") as an
economic development area pursuant to Section 41 of the Act, (b) approving an economic
development plan for the Economic Development Area designated as the Carmel Downtown
Economic Development Plan(the "Original Plan"), and(c) designating portions of the Economic
Development Area as separate "allocation areas"pursuant to Section 39 of the Act; and
WHEREAS, pursuant to the Act, the Redevelopment Commission adopted a declaratory
resolution on September 15, 2014 (the "2014 Declaratory Resolution"), approving certain
amendments to the Original Declaratory Resolution and adopting an amendment to the Original
Plan(the"2014 Plan Addendum"); and
WHEREAS, pursuant to the Act, the Carmel Plan Commission approved and adopted a
resolution on September 16, 2014 (the "2014 Plan Commission Order") determining that the
2014 Declaratory Resolution and the 2014 Plan Addendum conform to the plan of development
for the City of Cannel, Indiana (the "City"), and approving the 2014 Declaratory Resolution and
the 2014 Plan Addendum.
NOW THEREFORE, BE IT RESOLVED by the Common Council of the City of
Carmel, Indiana, as follows:
1. Pursuant to Section 16(b) of the Act, the Common Council of the City (the
"Council") hereby determines that the 2014 Declaratory Resolution and the 2014 Plan
Addendum, in all respects, conform to the plan of development for the City, and approves in all
respects, the 2014 Declaratory Resolution, the 2014 Plan Addendum and the 2014 Plan
Commission Order.
2. This Resolution shall be in full force and effect from and after its passage by the
Council and approval by the Mayor as required by law.
PASSED by the Common Council of the City of Carmel, this IS day of lt'r , 2014,
by a vote of '7 ayes and n nays.
COMMON COUNCIL.,O THE CITY . :%EL, I,�P A 411,
Presi• ng 0 facer evin D. Rider
W. Eric eide ticker, Preside• Tempore Carol Sch1='
/ 4..r . •
R 1. Carter Richar�r. harp
AW, 411 am / uc' . yder
AZT:
Diana L. Cordray, IAMC, Clerii0 reasurer
Presented by me to the Mayor of the City of Cannel t • RD day of --e-0"r`I`-6et
2014, at 1'.45- 1.M.
Diana L. Cordray, IAMC, Clerk-Tr surer
Approved by me, Mayor of the City of Cannel, Indiana, this I-14 day of
2014, at la:so P.M.
mes Brainard, Mayor
ATTE` -
�� • i i
•
Diana L. Cordray, IAMC, Clerk- 'reasurer of
the City of Carmel, Indiana
Prepared by: Bruce D. Donaldson, Esq.
Barnes & Thornburg LLP
11 South Meridian Street
Indianapolis, IN 46204
INDS01 BJB 1475445v1
2
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 Cannel Downtown Allocation Area No. 1 (the "Cannel
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 Cannel Downtown
Allocation Area No. 2 (the"Cannel 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 Cannel Downtown Allocation Area No. 1,and designate
such area as its own separate allocation area, known as the "Cannel 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 Cannel 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.
2
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"Cannel 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
Cannel 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
Cannel Downtown Allocation Area No. 3. The base assessment date for the Carmel
3
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 Cannel 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
4
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.
5
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 15th day of September, 2014.
CITY OF CARMEL REDEVELOPMENT
COMMISSION
(L)
President c
0—()
Vice President
1N;ofi Pr{xr1t-
Secretary
(Q)
Member
Nof Prtsev'ji-
Member
6
EXHIBIT A
Plan Addendum
(attached)
A-1
CARMEL DOWNTOWN ECONOMIC DEVELOPMENT AREA
ADDENDUM TO CARMEL DOWNTOWN ECONOMIC DEVELOPMENT PLAN
September 15, 2014
Background
On May 17, 2005, the City of Carmel Redevelopment Commission (the "Commission"),
adopted its Resolution No. 6-2005 (the "Original Declaratory Resolution"), for the purposes of:
(a) designating an area known as the Cannel Downtown Economic (the Development Area
P
"Economic Development Area"), as an economic development area pursuant to Sections 41 and
43 of the Act; (b) approving an economic development plan, pursuant to Sections 15 and 41 of
the Act, known as the Cannel Downtown Economic Development Plan, dated April 25, 2005
(the "Original Plan"), for the Economic Development Area; (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 Cannel Downtown Allocation Area No. 2 (the
"Carmel Downtown Allocation Area No. 2"). On July 19, 2005, following a public hearing, the
Commission adopted its Resolution No. 7-2005, which confirmed the Original Declaratory
Resolution and approved the Original Plan. A description of the boundaries of the Economic
Development Area, the Cannel Downtown Allocation Area No. 1, and the Carmel Downtown
Allocation Area No. 2 are attached as Exhibits A, B and C, respectively, to the Original
Declaratory Resolution.
The purpose of this Addendum to Cannel Downtown Economic Development Plan (the
"Plan Addendum")is to expand the scope of projects to be undertaken by the Commission within
the Economic Development Area, as more particularly described in Appendix A hereto.
Simultaneously with the consideration of this Plan Addendum, the Commission is expected to
(a) identify a portion of the existing Carmel Downtown Allocation Area No. 1 which is to be
removed therefrom and designated as its own separate allocation area to be known as the
"Carmel Downtown Allocation Area No. 3;" (b) identify a portion of the existing Cannel
Downtown Allocation Area No. 1 which is to be removed therefrom and designated as its own
separate allocation area to be known as the "Motor Court East Allocation Area;" (c) identify a
portion of the existing Cannel Downtown Allocation Area No. 1 which is to be removed
therefrom and designated as its own separate allocation area to be known as the "Motor Court
West Allocation Area;" and (d) identify a portion of the existing Cannel Downtown Allocation
Area No. 2 which is to be removed therefrom and designated as its own separate allocation area
to be known as the "Pedcor Office 5 Allocation Area" (collectively, the "New Allocation
Areas"). A map of the Economic Development Area and the proposed New Allocation Areas are
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 Areas 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 Economic Development Area, the Commission
believes that there is a substantial likelihood of significant new private investment in the
Economic Development Area which will result in major capital improvements to property
located in the New Allocation Areas. 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 Areas. 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 Economic Development Area, and (c) such new property taxes in the Economic
Development Area would not be generated but for the establishment of the New Allocation
Areas.
The additional projects consist of the construction, renovation, improvement and
equipping of additional local public improvements in the Economic Development 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
Economic Development Area, and (g) other necessary public infrastructure to be located in the
Economic Development Area. Such additional local public improvements may include the
following specific projects with the following current estimated costs:
Potential Projects Estimated Cost
1. Park East Parking Garage Facility $13,791,222
2. Veterans Way Extension $652,144
3. Roads, streets, sidewalks and other public ways adjacent to or $1,558,830
serving the existing or proposed Baldwin Building, Chambers
Building, Holland Building, Playfair Building and Park East
Parking Garage Facility
4. Spanish Steps Project $513,600
5. Rangeline Road Entrance Improvements $492,022
$17,007.818
A-1
In addition, pursuant to Resolution No. 2014-15, anticipated to be adopted by the
Commission on September 15, 2014, the Commission anticipates financing certain additional
projects, improvements or purposes in the City Center Redevelopment 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 City Center Redevelopment Area will
directly serve or benefit the Economic Development Area. Therefore, this Plan Addendum
contemplates that incremental property tax revenues derived from the New Allocation Areas 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 City Center Redevelopment Area.
A-2
APPENDIX B
Map of Economic Development Area and New Allocation Areas
(attached)
INDS01 BJB 1474292x1
B-1
APPENDIX B
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Parcels III.Pedcor Office 5>1 Motor 11111 Mortor t-=,.....=:-,'-'25 Downtown
'EDA No.3 0.3 km
Court East rA, 0 0 075 0.15
Allocation Area Court West
Daserap InfOrItInln PICO
EXHIBIT B
Description of Carmel Downtown Allocation Area No.3
The Carmel Downtown Allocation Area No. 3 is more particularly described by Pedcor as follows,
but excluding therefrom(a)any portion thereof comprising the Motor Court East Allocation Area, which is
described in Exhibit C hereto, and (b)any portion thereof comprising the Motor Court West Allocation
Area, which is described in Exhibit D hereto.
Parcel Numbers: Air rights above the following existing parcels:
16-09-36-00-00-005.114
16-09-36-00-00-005.101
16-09-36-00-00-005.111
16-09-36-00-00-005.614
16-09-36-00-00-005.121
16-09-36-00-00-005.317
Legal Description:
Air Parcel 5 Remainder Land Description
A portion of the property of CCC Phase II, LLC; CCC West, LLC; & CCC Nash,LLC
A part of Instrument Numbers 2013021629, 2012070073 &2013074647
April 8, 2014
A part of the Northeast Quarter of Section 36, Township 18 North, Range 3 East of the Second Principal
Meridian,Clay Township,Hamilton County,Indiana,being further defined from elevation 829.50 feet(NGVD
1929)more particularly described as follows:
Commencing at the Northeast Corner of the Northeast Quarter of said Section 36,Township 18 North,Range 3
East;thence South 00 degrees 13 minutes 54 seconds East(Basis of Bearings assumed from the Quitclaim Deed
granted to Pedcor Office,LLC(recorded as Instrument Number 200500045693 in the Office of the Recorder of
Hamilton County,Indiana)714.91 feet along the East Line of said Northeast Quarter;thence South 89 degrees
59 minutes 31 seconds West 59.00 feet to the northeastern corner of the 4,911.3-square-foot tract of land
vacated to CCC Nash,LLC and CCC Phase II,LLC("Vacation")(recorded as Instrument Number 2013074647
in said Recorder's Office), and the POINT OF BEGINNING of this description: thence South 00 degrees 13
minutes 54 seconds East 106.08 feet along the eastern line of said Vacation to the easterly projection of the
northern line of the 0.967-acre tract of land granted to CCC Nash,LLC("Nash tract")(recorded as Instrument
Number 2012080283 in said Recorder's Office) (the following two (2) courses are along said projection and
boundary of said Nash tract; (one) thence North 90 degrees 00 minutes 00 seconds West 166.76 feet; thence
South 00 degrees 00 minutes 00 seconds West 273.95 feet to the northern line of the 0.501-acre tract of land
granted to the Carmel Redevelopment Commission ("CRC tract") (recorded as Instrument Number
B-1
200600064025 in said Recorder's Office); thence South 89 degrees 12 minutes 13 seconds West 234.14 feet
along the common line of said CCC and CRC tracts to the common corner thereof, said corner also being the
southeastern corner of the tracts of land granted to CCC West, LLC ("West tracts") (recorded as Instrument
Number 2012070073 in said Recorder's Office);thence continue South 89 degrees 12 minutes 13 seconds West
234.32 feet along the southern line of said West tracts to the southwestern corner thereof,being the eastern line
of the 1.800-acre tract of land granted to the City of Carmel("Monon tract")(recorded as Instrument Number
9909923664 in said Recorder's Office);thence North 00 degrees 51 minutes 54 seconds West 615.73 feet along
the common line of said Monon and West tracts to the northwestern corner of said West tracts(the following
four (4) courses are along the northern boundaries of said West tracts); (one) thence South 89 degrees 56
minutes 58 seconds East 228.35 feet; (two)thence North 00 degrees 51 minutes 54 seconds West 45.00 feet;
(three) thence South 89 degrees 56 minutes 58 seconds East 6.00 feet; (four) thence South 00 degrees 51
minutes 54 seconds East 3.68 feet to the westerly extension of a southern boundary of the 3.192-acre tract of
land granted to the City of Carmel Redevelopment Commission (also recorded in said Instrument Number
2011064474) ("Garage tract") (following five (5) courses are along said extension and the boundary of said
Garage tract); (one) thence North 89 degrees 59 minutes 31 seconds East 63.05 feet; (two) thence South 00
degrees 00 minutes 29 seconds East 15.75 feet; (three)thence South 89 degrees 59 minutes 31 seconds West
3.25 feet;(four)thence South 00 degrees 00 minutes 29 seconds East 14.83 feet;(five)thence North 89 degrees
59 minutes 31 seconds East 18.27 feet to the northwestern corner of a 1,261.7-square-foot parking area;thence
South 00 degrees 00 minutes 29 seconds East 57.42 feet along the western line of said parking area; thence
North 89 degrees 59 minutes 31 seconds East 21.98 feet along the southern line
g of said parkin g area a point
oint
on course number seventy-seven as recited in said Garage tract;thence South 00 degrees 00 minutes 29 seconds
East 62.58 feet along said course number seventy-seven;thence South 89 degrees 59 minutes 31 seconds West
17.33 feet along course number seventy-six as recited in said Garage tract;thence South 00 degrees 00 minutes
29 seconds East 89.76 feet along course number seventy-five as recited in said Garage tract;thence North 89
degrees 59 minutes 31 seconds East 52.38 feet along course number seventy-four as recited in said Garage tract
to the northwestern corner of a 2,274.0-square-foot parking area; thence South 00 degrees 00 minutes 29
seconds East 21.67 feet along the western line of said parking area; thence North 89 degrees 59 minutes 31
seconds East 104.96 feet along the southern line of said parking area to course number seventy-three as recited
in said Garage tract;thence South 00 degrees 00 minutes 29 seconds East 8.28 feet along said course number
seventy-three as recited in said Garage tract;thence North 89 degrees 59 minutes 31 seconds East 170.23 feet
along said course number seventy-two as recited in said Garage tract to the POINT OF BEGINNING,containing
276,674.4 square feet(6.352 acres),more or less
B-2
EXHIBIT C
Description of Motor Court East Allocation Area
The Motor Court East Allocation Area is more particularly described by Pedcor as follows:
Parcel Numbers: Air rights above the following existing parcels:
16-09-36-00-00-005.117
16-09-36-00-00-005.217
Legal Description:
LAND DESCRIPTION
AIR EAST MOTORCOURT TIF DISTRICT
Portions of Tracts 5B.1 &5B.3
Part of Instrument Numbers 2011053909 &20060039104
September 8, 2014
A part of the Northeast Quarter of Section 36, Township 18 North, Range 3 East located in Clay Township,
Hamilton County, Indiana,being further defined from elevation 829.50 feet(NGVD 1929)more particularly
described as follows:
Commencing at the Northeast Corner of the Northeast Quarter of Section 36,Township 18 North,Range 3 East;
thence South 89 degrees 12 minutes 13 seconds West (assumed bearing)707.40 feet along the North Line of
said Northeast Quarter to the eastern boundary of the 1.800-acre tract of land granted to the City of Carmel
Redevelopment Commission("Monon Tract")(recorded as Instrument Number 9909923664 in the Office of the
Recorder of Hamilton County,Indiana);thence South 00 degrees 51 minutes 54 seconds East 284.25 feet along
the eastern boundary of said Monon Tract to the northwestern corner of the 0.909-acre tract of land granted to
the City of Carmel Redevelopment Commission("Tract 5B.1")(recorded as Instrument Number 2011053909 in
said Recorder's Office); thence continue South 00 degrees 51 minutes 54 seconds East 191.77 feet along the
western line of said Tract 5B.1 and the eastern line of said Monon Tract to the southern line of the 0.265-acre
tract of land granted to the City of Carmel Redevelopment Commission("Tract 5B.2")(recorded as Instrument
Number 200600039104 in said Recorder's Office);thence South 89 degree 56 minutes 58 seconds East 116.08
feet along said southern line to the POINT OF BEGINNING of this description; thence North 00 degrees 51
minutes 54 seconds West 41.05 feet parallel with the eastern line of said Monon Tract to the approximate
southern edge of an existing parking garage;thence North 89 degrees 59 minutes 31 seconds East 112.27 feet
along said southern edge to the eastern line of said Tract 5B.2;thence South 00 degrees 51 minutes 54 seconds
East 41.16 feet along said eastern line to the southeastern corner thereof;thence North 89 degrees 56 minutes 58
seconds West 112.27 feet along the southern line of said Tract B.2 to the POINT OF BEGINNING,containing
4,614.3 square feet (0.106 acres), more or less.
C-1
•
EXHIBIT D
Description of Motor Court West Allocation Area
The Motor Court West Allocation Area is more particularly described by Pedcor as follows:
Parcel Numbers: Air rights above the following existing parcels:
16-09-36-00-00-005.117
16-09-36-00-00-005.217
Legal Description:
LAND DESCRIPTION
AIR WEST MOTORCOURT TIF DISTRICT
Portions of Tracts 5B.1 & 5B.3
Part of Instrument Numbers 2011053909 & 20060039104
September 8, 2014
A part of the Northeast Quarter of Section 36, Township 18 North, Range 3 East located in Clay Township,
Hamilton County, Indiana, being further defined from elevation 829.50 feet(NGVD 1929) more particularly
described as follows:
Commencing at the Northeast Corner of the Northeast Quarter of Section 36,Township 18 North,Range 3 East;
thence South 89 degrees 12 minutes 13 seconds West(assumed bearing)707.40 feet along the North Line of
said Northeast Quarter to the eastern boundary of the 1.800-acre tract of land granted to the City of Carmel
Redevelopment Commission("Monon Tract")(recorded as Instrument Number 9909923664 in the Office of the
Recorder of Hamilton County,Indiana);thence South 00 degrees 51 minutes 54 seconds East 284.25 feet along
the eastern boundary of said Monon Tract to the northwestern corner of the 0.909-acre tract of land granted to
the City of Carmel Redevelopment Commission("Tract 5B.1")(recorded as Instrument Number 2011053909 in
said Recorder's Office); thence continue South 00 degrees 51 minutes 54 seconds East 150.84 feet along the
western line of said Tract 5B.1 to the approximate westerly extension of the southern edge of an existing
parking garage,being the POINT OF BEGINNING of this description;thence North 89 degrees 59 minutes 31
seconds East 116.08 feet along said extension and said southern line;thence South 00 degrees 51 minutes 54
seconds East 41.05 feet parallel with the eastern line of said Monon Tract to the southern line of the 0.265-acre
tract of land granted to the City of Carmel Redevelopment Commission("Tract 5B.2")(recorded as Instrument
Number 200600039104 in said Recorder's Office);thence North 89 degrees 56 minutes 58 seconds West 116.08
feet to the southwestern corner of said Tract 5B.2 and the eastern line of said Monon Tract; thence North 00
degrees 51 minutes 54 seconds West 40.93 feet along said eastern line and the western lines of said tracts 5B.2
and 5B.1 to the POINT OF BEGINNING,containing 4,757.4 square feet (0.109 acres), more or less.
D-1
EXHIBIT E
Description of Pedcor Office 5 Allocation Area
The Pedcor Office 5 Allocation Area is more particularly described by Pedcor as follows:
Parcel Numbers: Air rights above the following existing parcels:
16-09-36-00-00-005.012
16-09-36-00-00-005.019
Legal Description:
AIR RIGHTS DESCRIPTION
A part of the Northeast Quarter of Section 36, Township 18 North, Range 3 East of the Second Principal
Meridian,Clay Township, Hamilton County,Indiana,being further defined from elevation 836.80 feet(top of
existing floor system) (NGVD 1929)more particularly described as follows:
Commencing at the Northeast Corner of the Northeast Quarter of said Section 36,Township 18 North,Range 3
East; thence South 89 degrees 12 minutes 13 seconds West (assumed bearing) along the North Line of said
Northeast Quarter 1,177.71 feet to the centerline of Third Avenue SW;thence South 00 degrees 12 minutes 13
seconds West 26.53 feet along said centerline; thence continue South 00 degrees 46 minutes 33 seconds East
554.73 feet along said centerline;thence South 89 degrees 48 minutes 03 seconds West 60.05 feet to the western
right-of-way line of Third Avenue as described in the deed to The City of Carmel Board of Public Works,
recorded as Instrument number 99-9923663 in the Office of the Recorder of Hamilton County,Indiana;thence
North 00 degrees 46 minutes 33 seconds West along said western right-of-way line 162.24 feet to the
southeastern corner of Carmel City Center Phase II; thence South 89 degrees 58 minutes 22 seconds West
188.28 feet along the southern line of said Phase II to the southwestern corner thereof,being the southeastern
corner of Carmel City Center Phase III;thence continue South 89 degrees 58 minutes 22 seconds West 130.29
feet along the southern line of said Phase III to the southerly extension of the western face of an existing three-
story brick building;thence North 00 degrees 39 minutes 51 seconds West 2.64 feet along said extension to the
POINT OF BEGINNING of this description(all of the remaining courses,save and except the closing call,are
parallel with or perpendicular to the southern line of said Phase III); thence South 89 degrees 58 minutes 22
seconds West 142.21 feet; thence North 00 degrees 01 minutes 38 seconds West 50.07 feet; thence South 89
degrees 58 minutes 22 seconds West 17.31 feet; thence North 00 degrees 01 minutes 38 seconds West 70.76
feet;thence North 89 degrees 58 minutes 22 seconds East 17.45 feet; thence North 00 degrees 01 minutes 38
seconds West 28.23 feet; thence North 89 degrees 58 minutes 22 seconds East 72.22 feet; thence South 00
degrees 01 minutes 38 seconds East 26.22 feet;thence North 89 degrees 58 minutes 22 seconds East 68.49 feet
to the northerly extension of the western face of said existing building;thence South 00 degrees 39 minutes 51
seconds East 122.84 feet along said extensions and said western face to the POINT OF BEGINNING,
containing 20,503.0 square feet (0.471 acres), more or less.
INDS01 BiB 1474038v2
E-1
RESOLUTION NO. PC-09-16-14-b
RESOLUTION OF THE CITY OF CARMEL PLAN COMMISSION
APPROVING AMENDMENTS TO THE DECLARATORY RESOLUTION
AND ECONOMIC DEVELOPMENT PLAN FOR THE CARMEL DOWNTOWN
ECONOMIC DEVELOPMENT AREA
WHEREAS,the City of Carmel Plan Commission(the"Plan Commission")is the body charged
with the duty of developing a general plan of development for the City of Cannel,Indiana(the"City");
and
WHEREAS, the City of Carmel Redevelopment Commission (the "Redevelopment
Commission"),as the governing body for the City of Carmel Redevelopment Department,pursuant to
Indiana Code 36-7-14, as amended (the "Act), has approved and adopted a Resolution (the
"Resolution")approving certain amendments to the declaratory resolution and economic development
plan for the Carmel Downtown Economic Development Area(the"Plan Addendum"); and
WHEREAS, the Redevelopment Commission has submitted the Resolution and the Plan
Addendum to this Plan Commission,and, after reviewing the Resolution and the Plan Addendum, the
Plan Commission has determined that that no residents of the City of Carmel will be displaced by the
proposed development thereof.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF CARMEL PLAN
COMMISSION, as follows:
1. The Plan Commission hereby finds and determines that the Resolution and the Plan
Addendum conform to the plan of development for the City.
2. The Plan Commission hereby approves the Resolution and the Plan Addendum. This
resolution hereby constitutes the written order of the Plan Commission approving the Resolution and the
Plan Addendum pursuant to Section 16 of the Act.
3. The Secretary of this Plan Commission is hereby directed to file a copy of the Resolution
and the-Plan Addendum with the minutes of this meeting.
SO RESOLVED BY THE CITY OF CARMEL PLAN COMMISSION this 16th day of
September, 2014.
CI i CARMEL PLAN COMMISSION
(
• .
President
ATTEST:
(4)A_
Secretary
INDS01 1?1R.1474528,•1
•