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HomeMy WebLinkAbout2015 Impact of Amending City Center/Carmel Downtown Economic Develop AreasUMBAUGH 11. 1. Umbaugh & Associates Certified Public Accountants, UP 8365 Keystone Crossing Suite 300 Indianapolis. IN 46240.2687 Phone: 317- 465 -1500 Fax: 317- 465 -1550 www.umbaugh.com January 8, 2015 City of Cannel c/o Ms. Diana Cordray One Civic Square Cannel, Indiana 46032 Re: Amending Carmel Downtown Economic Development Area and City Center Redevelopment Area Dear Ms. Cordray: Enclosed please find a copy of the Tax Impact Statement that was prepared by Umbaugh on behalf of the City of Carmel Redevelopment Commission. The Commission is required to provide an impact statement to each of the taxing units which overlap the Carmel Downtown Economic Development Area and the City Center Redevelopment Area including Hamilton County, Clay Township, Carmel Civil City, Cannel -Clay School Corporation, Carmel -Clay Public Library and Hamilton County Solid Waste Management District at least 10 days before the public hearing. The purpose of this statement is to disclose any potential impact of amending the Areas and capturing Tax Increment. As described in the Tax Impact Statement, the Commission has found that the Improvements being funded with Tax Increment will facilitate the construction of the $80 million final phase of Carmel City Center (the "New Development "). Therefore, the Commission has determined that the capturing of the increases in assessed value from the New Development does not have a negative impact on anticipated revenues or tax rates of the taxing units that are wholly or partially located in the Areas. The public hearing on the proposed amendment of the Areas has been scheduled by the Commission for January 21, 2015 as set forth in the enclosed legal notice. Please let us know if you have any questions regarding the enclosed material. If you prefer, we would be happy to meet with you to explain the attached schedules and answer any questions that you might have. Very truly yours, UMBAUGH Loren M. Matthes CITY OF CARMEL REDEVELOPMENT COMMISSION STATEMENT DISCLOSING THE IMPACT OF AMENDING THE CARMEL DOWNTOWN ECONOMIC DEVELOPMENT AREA AND ALLOCATION AREAS AND THE CITY CENTER REDEVELOPMENT AREA AND ALLOCATION AREA The City of Carmel Redevelopment Commission (the "Commission ") is required by Indiana Code 36 -7 -14, as amended (the "Act "), to provide a statement disclosing the impact of amending a tax allocation provision on the overlapping taxing units. This impact statement discloses and explains the impact on the overlapping taxing units caused by amending certain allocation areas to establish new allocation areas and capture Tax Increment (as hereinafter defined). AMENDMENT OF i'HE AREAS AND THE PLANS The Commission adopted Resolution No. 3 -1998 on January 15, 1998 (as previously amended, the "Original City Center Declaratory Resolution ") establishing the City Center Redevelopment Area (the "City Center Area"), designating a portion of the City Center Area as the City Center Redevelopment Allocation Area (the "City Center Redevelopment Allocation Area ") and approving a redevelopment plan for the City Center Area, which plan has subsequently been incorporated into and replaced by an Integrated Economic Development Plan R Amended Redevelopment Plan which applies to the City Center Area (the "City Center Plan''). The Commission adopted Resolution No. 6 -2005 on May 17, 2005 (the "Original Carmel Downtown Declaratory Resolution ") establishing the Carmel Downtown Economic Development Area (the "Carmel Downtown Area"), designating a portion of the Carmel Downtown Area as the Carmel Downtown Allocation Area No. 1 (the "Carmel Downtown Allocation Area No. I"), designating a portion of the Carmel Downtown Area as the Carmel Downtown Allocation Area No. 2 (the "Carmel Downtown Allocation Area No. 2 ") and approving an economic development plan for the Carmel Downtown Area, dated April 25, 2005 (the "Original Carmel Downtown Plan "). The City Center Area and the Carmel Downtown Area are collectively referred to as the "Areas ". The Areas are located within the City of Carmel, Indiana (the "City "). The Original City Center Plan and the Original Carmel Downtown Plan are collectively referred to as Ole "Original Plans ". The Original Citv Center Declaratory Resolution and the Original Carmel Downtown Declaratory Resolution are collectively referred to as the "Original Declaratory Resolutions ". The Original Declaratory Resolutions allow for the capture of Tax Increment resulting from the growth in all non - residential real property assessed value within the Areas in excess of the base assessed value defined in the Act. The base assessment dates for the City Center Area and the Carmel Downtown Area are March 1, 1997 and March 1, 2005. respectively. On September 15, 2014, the Commission adopted Resolution No. 2014 -14 and Resolution No. 2014 -15 amending the Original Declaratory Resolutions (Ole "Amending Declaratory Resolutions ") to incorporate addendums into the Original Plans (the "Plan Addendums "), to remove certain areas from the Carmel Downtown Allocation Area No. 1 and designate such areas as their own separate allocation areas, known as the "Carmel Downtown Allocation Area No. 3 ", the "Motor Court East Allocation Area" and the "Motor Court West Allocation Area ", to remove a certain area 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 ", and to remove a certain area from the City Center Redevelopment Allocation Area and designate such area as its own separate allocation area. known as the "Kent Allocation Area" (collectively, the "2014 Amendments"). 1 CITY OF CARMEL REDEVELOPMENT COMMISSION STATEMENT DISCLOSING THE IMPACT OE AMENDING THE CARMEL DOWNTOWN ECONOMIC DEVELOPMENT AREA AND ALLOCATION AREAS AND THE CITY CENTER REDEVELOPMENT AREA AND ALLOCATION AREA AMENDMENT OF THE AREAS AND THE PLANS (Coned) In the Amending Declaratory Resolutions, the Commission finds that the 2014 Amendments promote significant opportunities for the gainful employment of the citizens of 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 meet other purposes 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 (the "State") and serving to protect and increase property values in the City and the State. In addition, the Commission reaffirms its findings that the City Center Area, including the Kent Allocation Area, is an "area needing redevelopment" within the meaning of the Act. The Commission also finds that the public health and welfare will be benefited by accomplishment of the 2014 Amendments and the redevelopment of the City Center Area, including the Kent Allocation Area. The accomplishment of the 2014 Amendments will be of public utility and benefit as measured by the attraction of permanent jobs, an increase in the property tax base, improved diversity of the economic base and other similar public benefits. The Plan Addendums conform to other development, redevelopment and comprehensive plans for the City. The Amending Declaratory Resolutions and the 2014 Amendments are reasonable and appropriate when considered in relation to the Original Declaratory Resolutions, the Original Plans and the purposes of the Act. The Original Plans, as supplemented by the Plan Addendums, are referred to as the "Plans ". Tax Increment consists of all property tax proceeds from the assessed valuation of non - residential real property in the Areas as of the assessment date in excess of the base assessed valuation described in Section 39(b)(1) of the Act, multiplied by the current property tax rate (the "Tax Increment "). The base assessed value means the net assessed value of all the property in an allocation area as finally determined for the assessment date immediately preceding the effective date of a declaratory resolution establishing the allocation area pursuant to Section 39 of the Act. The Carmel Downtown Allocation Area No. 3. the Motor Court East Allocation Area. the Motor Court West Allocation Area. the Pedcor Office 5 Allocation Area, and the Kent Allocation Area are collectively referred to herein as the "2014 Areas ". The base assessment date of the 2014 Areas is March 1, 2014. PROJECT SUMMARY In order to accomplish the Plans, the Commission intends to participate in the economic development of the Areas through the construction of various improvements (the "Improvements'') needed to support the final phase of Carmel City Center being developed by Pedcor Companies (the "Developer ") on 88 acres in downtown Carmel. The Developer proposes to invest $80 to $100 million to develop the final phase of City Center which will include 575,000 square feet of retail, residential and office space in 10 different buildings, which will be constructed over the next several years (the "New Development "). CITY OF CARMEL REDEVELOPMENT COMMISSION STATEMENT DISCLOSING THE IMPACT OF AMENDING THE CARMEL DOWNTOWN ECONOMIC DEVELOPMENT AREA AND ALLOCATION AREAS AND THE CITY CENTER REDEVELOPMENT AREA AND ALLOCATION AREA PROJECT SUMMARY (Cont'd) The Improvements needed to support the private development include a parking garage; roads, streets, sidewalks, and other public ways, streetscaping, lighting, landscaping; water, sewer, drainage or other utility infrastructure improvements; site work and preparation to support the mixed use development; and other necessary public infrastructure to be located in or serving the Areas. The estimated cost of the Improvements is approximately $18 million, and will be funded from bonds to be issued with the next two years. The bonds will be repaid from Tax Increment from the Areas and the bonds will be additional secured with Developer guarantees and other credit enhancement by the Developer and the City. ESTIMATED TAX INCREMENT As described above, the New Development will include 10 mixed -use buildings totaling over 575,000 square feet and various real property improvements, which are anticipated to be completed, with partial assessments beginning in tax year payable 2018 and full assessments beginning in tax year payable 2019. In this analysis, the estimated assessed value from the New Development is based on investment information provided by the Developer and the assessed value of comparable developments in City Center Phase I. The estimated incremental assessed value of $71,690,924 (assuming completion of all the developments) is multiplied by the adjusted 2014 tax rate of the City of Carmel taxing district of $1.8453 (per $100 of assessed value) to calculate the estimated Tax Increment of $1,322,910. (The certified 2014 tax rate for the Carmel City taxing district of $2.0053, less the Carmel -Clay School Corporation referendum rate of $0.1600, is $1.8453.) The actual assessed value of the New Development will be determined by the Hamilton County Assessor upon its completion. Additionally, no adjustment for future statewide reassessments or trending was made in this analysis. Future tax rates and assessed values may differ from the tax rates and assessed values used in this analysis and the differences could have an impact on the actual Tax Increment. See sections below for additional information about the recent legislative changes as they relate to property tax changes. Circuit Breaker Tax Credits (Property Tax Caps) In 2007. the Indiana General Assembly enacted legislation (Indiana Code 6 -1.1- 20.6), which would provide taxpayers with a tax credit for property taxes in an amount that exceeded a certain percentage of the gross assessed value of real and personal property (the "Circuit Breaker Tax Credit ") in effect creating a property tax cap. Beginning with property taxes payable in 2010, and every year thereafter, property taxes for homesteads are limited to 1.0% of the gross assessed value of the homestead; property taxes for agricultural, other residential property and long term care facilities are limited to 2.0% of their gross assessed value; and property taxes for all other real and personal property are limited to 3.0% of gross assessed value. In November of 2010, Indiana voters passed a proposal to add the Circuit Breaker Tax Credit to the Indiana Constitution at the 1.0 %. 2.0% and 3.0% levels, with special provisions applicable to Lake and St. Joseph Counties. Additional property tax limits have been made available to senior citizens that meet certain income and property assessed value thresholds. 3 CITY OF CARMEL REDEVELOPMENT COMMISSION STATEMENT DISCLOSING THE IMPACT OF AMENDING THE CARMEL DOWNTOWN ECONOMIC DEVELOPMENT AREA AND ALLOCATION AREAS AND THE CITY CENTER REDEVELOPMENT AREA AND ALLOCATION AREA ESTIMATED TAX INCREMENT (Cont'd) If applicable. the Circuit Breaker Tax Credit will result in a reduction of property tax collections for each political subdivision in which the Circuit Breaker Tax Credit is applied. A political subdivision may not increase its property tax levy or borrow money to make up for any property tax revenue shortfall due to the application of the Circuit 13reaker Tax Credit. In this analysis. the Circuit Breaker Tax Credit is not estimated to reduce the Tax Increment due to the fact that the current Tax Increment estimate, based on the certified pay 2014 tax rate, is below the maximum thresholds of 2.0% and 3.0% of the gross assessed value. There can be no assurance that the levies and tax rates of the Carmel City taxing district and the overlapping taxing units will not increase in some future year to the point of causing the Circuit Breaker Tax Credit to be applied to non- homestead taxpayers' tax bills. ESTIMATED IMPACT OF AMENDING THE AREAS AND THE PLANS The schedule entitled "Estimated Impact of Amending the Carmel Downtown Economic Development Area and Allocation Areas and the City Center Redevelopment Area and Allocation Area on the Overlapping Taxing Units" provides an estimate of the effect on the tax rates of the overlapping taxing units (holding all other factors constant) of amending the Areas and the Plans to capture certain non - residential real incremental assessed value. Scenario 1: Present Situation (Prior to Amending the Arens and Plans) Scenario I represents the current situation (based on payable 2014 property tax information) prior to amending the Areas to establish the 2014 Areas. Scenario I presents the payable 2014 assessed values, property tax levies and tax rates for the overlapping taxing units. Scenario II: Assumes the Areas and Plans are Amended Scenario II depicts the impact on the overlapping taxing units (holding all other factors constant) if the Areas and Plans are amended to establish the 2014 Areas, and assumes the New Developments are constructed and the estimated real property incremental assessed value from the New Development is captured. The estimated Tax Increment from the New Development is based on the estimated $71.690.924 of incremental assessed value in the Carmel City taxing district, which is estimated to generate $1,322,910 of annual Tax Increment. Scenario III: Assumes the Areas and Plans are NOT Amended Scenario 111 represents the impact on the overlapping taxing units if the Areas and the Plans are not amended and the 2014 Areas are not established, and, therefore, assumes that the Improvements cannot be funded, the New Development is not constructed, and assumes there would be no additional growth in assessed value. 4 CITY OF CARMEL REDEVELOPMENT COMMISSION STATEMENT DISCLOSING THE IMPACT OF AMENDING THE CARMEL DOWNTOWN ECONOMIC DEVELOPMENT AREA AND ALLOCATION AREAS AND THE CITV CENTER REDEVELOPMENT AREA AND ALLOCATION AREA ESTIMATED IMPACT OF AMENDING THE AREAS AND THE PLANS (Coned) Impact Summary Based on representations of the Developer, the Commission has determined that the $80 million New Development will not proceed as planned without the contribution of Tax Increment to be derived from the 2014 Areas to help fund the Improvements. The City does not have any other method of financing the Improvements (with the underlying assumption that the City would not issue bonds payable from ad valorem property taxes levied on all the taxpayers within the City or from another source of revenue without the prospect of replacing that source with Tax Increment from the 2014 Areas). The Commission has determined that the capture of increases in assessed value from the New Development in the 2014 Areas will not have a negative impact on anticipated revenues or the tax rates of the taxing units that are wholly or partially located in the Areas. The Commission has determined that the Plans cannot be achieved by regulatory processes or by the ordinary operation of private enterprise without resort to the powers allowed under the Act. The City has no other sources of funds to pay for the Improvements and private enterprise has historically been unwilling or unable to do so. Please note that for purposes of estimating the impact of Tax Increment financing, certain factors were held constant in this analysis. No other growth in real or personal property assessed value was assumed to take place anywhere in the City or within the Areas. No increases in the budgets of the overlapping taxing units were assumed for purposes of this analysis. Potential impacts from future statewide reassessments or trending were not included in this analysis. Non-Property Tax Impacts Additional local income tax revenue could he generated from new jobs or new residents associated with the New Development. Increases in employees and /or residents, would, in turn, increase local spending and commercial activity. Additional revenue sources which would potentially increase as a result of new business enterprises which could locate in the 2014 Areas include: motor vehicle highway funds, local road and street funds and excise taxes. 5 CITY OE CAR3IEI. REDEVELOPMENT COMMISSION ESTIMATED I XI PACT OF AMENDING TINE CAR\I E L DOWNTOWN ECONO)I IC DEVI :I.UP \I E,N'T AREA AND ALLOCATI ON AREAS AND THE CITY CENTER REDEVELOPMENT AREA AND ALLOCATION AREA ON'FRE OVERLAPPING TAXING UNITS (1) Net Assessed Estimated Carmel City Tax Value of Propcnv Taxing Unit Rate Taxing Unit Tax Levy SCENARIO 1: PRESENT SITUATION Represents 2013 taxes payable 2014 property lax levies. assessed valuation. and tax rates. Hamilton County Hamilton County Cumulative Funds (2) Cl av Township Carmel Civil City Cannel Civil City Cumulative Capital Development Fund (2) Carmel -Clay School Corporation Referendum Rate Camel -Clay School Corporation Camel -Clay School Corporation Capital Projects Fund (2) Carmel-Clay Public Library 1amilton County Solid Waste Nlanagenrent District 50.2746 0.0308 0.0719 0.6731 0.0276 0.1600 0.4600 0.2253 0-0787 0.0033 Total Tax Rate (per 5100 AV) 52.0053 517,732952.925 17,732,952.928 9451,614,892 6,282.297A95 6,282.2977.495 7,953291 924 6,451.614.892 6,451,614,892 6.451,614,892 17,732 - 952.928 848,694.6$9 5. 461.750 4,638.711 42.286,145 1.733,914 12.725.267 29,677,429 14,531 488 5,077 421 585.187 SCENARIO II: ASSU3IES'PIIE AREAS AND PLANS ARE AMENDED Rate Levy Assumes the 21(14 Areas are established and the incremental Difference Difference assessed value Goo the New Development is captured. From From Scenario 1 Scenario 1 Hamilton County 50.2746 517,732. 952.928 848,694,689 50.0000 S Hamilton County Cumulative Funds (2) 0.0308 17,732,952.928 5,461.750 0.0000 Clay Township 0.0719 6,451.614,892 4,638,711 0.0000 Carmel Civil City 0.6731 6,282.297495 42286.145 0.0000 Camel Civil City Cumulative Capital Development Fund (2) 0.0276 6,282 2 97,495 1,733,914 0.0000 Cannel -Clay School Corporation Referendum Rate 0.1600 7,953291924 12,725,267 0.0000 Camel -Clay School Corporation 0.4600 6,451,614.892 29.677,429 0.0000 Camel -Clay School Corporation Capital Projects Fund (2) 0.2253 6,451.614.892 14,535.483 0.0000 Carmel-Clay Public Library 0.0787 6,451,614,892 5,077.421 09000 Hamilton County Solid Waste Management District 0.0033 17,732.952,928 585.187 0.0000 Total Tax Rate (per 5100 AV) 52.0053 50.0000 5 Less: Camel -Clay School Corporation Referendum Rate (0.1600) Total Tax Increment Tax Rate (per 5 100 AV) 51.8453 Allocation Fund New Development (3) Incremental Gross Fax Circuit Net Tax Rate Assessed Value Increment Breaker Increment 51.8453 571.690,924 81,322,910 (80) 51,322.910 SCENARIO 111: ASSUMES THE AREAS AND PLANS ARE NOT A3IENDED Rate Levy Assumes the 2014 Areas are not established and, therefore the New Developments Difference Difference are not constructed and no additional assessed value is venerated. From From Scenario I Scenario I Hamilton County 50.2746 517,732,952,928 548,694.689 50.0000 5 Hamilton County Cumulative Funds (2) 0.0308 17,732,952,928 5,461.750 0.11000 Clay Township 0.0719 6.451,614,892 4,638,711 0.0000 Carmel Civil City 0.6731 6,282,297,495 42,286,145 0.0000 Carmel Civil City Cumulative Capital Development Fund (2) 0.0276 6,282297 495 1,733.914 0.0000 Camel -Clay School Corporation Referendum Rate 0.1600 7,953 291,924 12,725 267 00000 Camel -Clay School Corporation 0.4600 6,451.614.892 29,677,429 0.0000 Carmel -Clay School Corporation Capital Projects Fund (2) 0.2253 6,451,614.892 14,535488 0.0000 Cannel -Clay Public Library 0.0787 6,451.614.892 5,077421 0.0000 Hamilton County Solid Waste Management District 0.0033 17,732,952,928 585.187 0.0000 Total fax Rate (per 8 100 AV) 52.0053 50.0000 (1) Based on information provided from the 2014 Budget Order. (2) Tax rates are not adjusted for rate driven funds. Assumes these funds are at their maximum rates. (3) The Hamilton Couny Assessor will determine the actual assessed value of the New Development upon its materially different from the assessed value assumed in this analysis. (Subject to the attached Tax Impact Statement dated January 8,'2015 ofUmbaugh) 6 S0 tpletion, and the actual assessed value may be NOTICE OF PUBLIC HEARING OF' THE CITY OF CARMEL REDEVELOPMENT COMMISSION Notice is hereby given that the City of Carmel Redevelopment Commission (the "Commission "), being the governing body of the Citv of Carmel Department of Redevelopment (the "Department "), pursuant to Indiana Code 36 -7 -14, as amended (the "Act), adopted a declaratory resolution on September 15, 2014 (the "2014 Declaratory Resolution ") for the purposes of (a) approving certain amendments to the original declaratory resolution which designated an area known as the Carmel Downtown Economic Development Area (the "Economic Development Area "), and (b) adopting an addendum (the "2014 Plan Addendum ") which supplements and amends the original economic development plan for the Economic Development Area (the "Original Plan ") (the 2014 Declaratory Resolution and the 2014 Plan Addendum, collectively, the "Amendments "). Notice is hereby further given that the Commission will conduct a public hearing on January 21, 2015, at 6:30 p.m.. (Indianapolis time), in the Council Chambers of the Camel City Hall, located at One Civic Square, Carmel. Indiana, to receive and hear remonstrances and objections from all persons interested in or affected by the proposed Amendments. The Amendments (a) incorporate the 2014 Plan Addendum into the Original Plan, and (b) remove certain areas described in the 2014 Declaratory Resolution from existing allocation areas located within the Economic Development Arca, and designate such areas as their own separate allocation areas for purposes of the Act. At the public hearing, the Commission will receive and hear any remonstrances or objections from persons interested in or affected by the Amendments. At the public hearing. the Commission will also determine vvhether the proposed Amendments are reasonable and appropriate when considered in relation to the Original Plan and the purposes of the Act, and whether the Original Plan, as amended by the proposed 2014 Plan Addendum, conforms to the comprehensive plan for the City of Carmel, Indiana. A detailed description of the Economic Development Area and the proposed Amendments, can be inspected at the office of the Commission, located at 30 \Vest Main Street, Suite 220, Carmel, Indiana 46032. CITY OF CARMEL REDEVELOPMENT COMMISSION [TO BE PUBLISHED ONE (1) TIME IN THE NOBLESVILLE DAILY ThVIES ON FRIDAY, JANUARY 9, 2015.] [ALSO TO 13E (1) FILED IN THE OFFICE OF THE PLAN COMMISSION, BOARD OF ZONING APPEALS, WORKS BOARD, PARK BOARD, AND BUILDING COMMISSIONER AND ANY OTHER DEPARTMENT, I30DY, OR OFFICERS OF THE COUNTY HAVING TO DO WIT' -I PLANNING, VARIANCES FROM ZONING ORDINANCES, LAND USE, OR THE ISSUANCE OF BUILDING PERMITS, AND (2) FILED (ALONG WITH THE TAX IMPACT STA'1'EMENT)WITH EACH TAXING UNIT LOCATED IN THE ALLOCATION AREAS; BY NO LATER THAN FRIDAY, JANUARY 9, 2015] INDS01 B113 1473496v1 NOTICE OF PUBLIC HEARING OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION Notice is hereby given that the City of Carmel Redevelopment Commission (the "Commission "), being the governing body of the City of Carmel Department of Redevelopment (the '`Department "), pursuant to Indiana Code 36 -7 -14, as amended (the "Act), adopted a declaratory resolution on September 15, 2014 (the "2014 Declaratory Resolution ") for the purposes of (a) approving certain amendments to the original declaratory, resolution, as previously amended, which designated an area known as the City Center Redevelopment Area (the "Redevelopment Area "), and (b) adopting an addendum (the "2014 Plan Addendum') which supplements and amends the original redevelopment plan for the Redevelopment Area, as previously modified and amended (the "Original Plan ") (the 2014 Declaratory Resolution and the 2014 Plan Addendum, collectively, the "Amendments "). Notice is hereby further given that the Commission will conduct a public hearing on January 21, 2015; at 6:30 p.m., (Indianapolis time), in the Council Chambers of the Camel City Hall, located at One Civic Square, Carmel, Indiana, to receive and hear remonstrances and objections from all persons interested in or affected by the proposed Amendments. The Amendments (a) incorporate the 2014 Plan Addendum into the Original Plan, and (b) remove a certain area described in the 2014 Declaratory Resolution from an existing allocation area located within the Redevelopment Area, and designate such area as its own separate allocation area for purposes of the Act. At the public hearing, the Commission will receive and hear any remonstrances or objections from persons interested in or affected by the Amendments. At the public hearing, the Commission will also determine whether the proposed Amendments are reasonable and appropriate when considered in relation to the Original Plan and the purposes of the Act, and whether the Original Plan, with the proposed 2014 Plan Addendum, conforms to the comprehensive plan for the City of Carmel, Indiana. A detailed description of the Redevelopment Area and the proposed Amendments, can be inspected at the office of the Commission, located at 30 West Main Street, Suite 220, Carmel, Indiana 46032. CITY OF CARIMEL REDEVELOPMENT COMtMISSION [TO BE PUBLISHED ONE (1) TIME IN THE NOBLESVILLE_ DA ITT TIMES ON FRIDAY, JANUARY 9, 2015.] [ALSO TO BE (1) FILED IN THE OFFICE OF THE PLAN COMMISSION, BOARD OF ZONING APPEALS, WORKS BOARD, PARK BOARD, AND BUILDING COMMISSIONER AND ANY OTHER DEPARTMENT, BODY, OR OFFICERS OF THE COUNTY HAVING TO DO WITH PLANNING, VARIANCES FROM ZONING ORDINANCES, LAND USE, OR THE ISSUANCE OF BUILDING PERMITS, AND (2) FILED (ALONG WITH THE TAX IMPACT STATEMENT)WVITH EACH TAXING UNIT LOCATED IN THE ALLOCATION AREAS; BY NO LATER TI -IAN FRIDAY, JANUARY 9, 2015] INDSOI BlB 147550%.