HomeMy WebLinkAboutResolution 2016-17 (Declaratory resolution for Meridian and Main allocation area)RESOLUTION NO. 2016-17
RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION
AMENDING THE DECLARATORY RESOLUTION AND THE DEVELOPMENT PLAN
FOR THE OLD MERIDIAN ECONOMIC DEVELOPMENT AREA
WHEREAS, the City of Carmel Redevelopment Commission (the "Redevelopment
Commission"), governing body of the City of Carmel Redevelopment District (the "District"),
previously has adopted and amended resolutions (collectively, the "Declaratory Resolution")
establishing and expanding an economic development area known as the "Old Meridian Economic
Development Area" (the "Development Area"), approving an Economic Development Plan (the
"Development Plan") for the Development Area, pursuant to Indiana Code 36-7-14, as amended (the
"Act"), and designating portions of the Development Area as "allocation areas" pursuant to Section
39 of the Act, including an allocation area designated as the "Meridian & Main Allocation Area";
and
WHEREAS, the Redevelopment Commission now desires to amend the Declaratory
Resolution and the Development Plan to (1) remove the area described on Exhibit A attached hereto
from the Meridian & Main Allocation Area, (2) designate the area described on Exhibit B attached
hereto as a separate allocation area pursuant to Section 39 of the Act to be known as the Meridian &
Main — Indiana Spine Group II Allocation Area (the "Meridian & Main — Indiana Spine Group II
Allocation Area"), and (3) adopt a supplement to the Development Plan attached hereto as Exhibit C
(the "Plan Supplement") (such amendments, collectively, the "2016 Amendments"); and
WHEREAS, the 2016 Amendments and supporting data were reviewed and considered at this
meeting; 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 maybe 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 2016 Amendments.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF CARMEL
REDEVELOPMENT COMMISSION, GOVERNING BODY OF THE CITY OF CARMEL
DEPARTMENT OF REDEVELOPMENT, as follows:
1. The 2016 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
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the City and the State of Indiana, and serving to protect and increase property values in the City and
the State.
2. The 2016 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 public health and welfare will be benefited by accomplishment of the 2016
Amendments.
4. The accomplishment of the 2016 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 Development Plan to incorporate the Plan Supplement and
adopt the 2016 Amendments.
The Plan Supplement conforms to other development and redevelopment plans for the
City.
6. The Redevelopment Commission does not at this time propose to acquire any specific
parcel of land or interests in land within the boundaries of the Meridian & Main — Indiana Spine
Group II Allocation Area. If at any time the Commission proposes to acquire specific parcels of
land, the required procedures for amending the Development Plan, as amended by the Plan
Supplement, under the Act will be followed, including notice by publication to affected property
owners and a public hearing.
7. The Redevelopment Commission finds that no residents of the Development Area or
the City will be displaced by any project resulting from the Plan Supplement, and therefore finds that
it does not need to give consideration to transitional and permanent provisions for adequate housing
for the residents.
8. The Redevelopment Commission hereby adopts the specific findings set forth in the
Plan Supplement, and the Plan Supplement is hereby in all respects approved.
9. The Commission hereby finds and determines that the 2016 Amendments are
reasonable and appropriate when considered in relation to the original Development Plan and the
purposes of the Act, and that the Plan Supplement conforms to the comprehensive plan for the City.
10. The area described in Exhibit A is hereby removed from the Meridian & Main
Allocation Area.
11. The area described in Exhibit B is hereby designated as a separate "allocation area" to
be known as the "Meridian & Main — Indiana Spine Group II Allocation Area" pursuant to Section
39 of the Act for purposes of the allocation and distribution of property taxes for the purposes and in
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the manner provided by said Section 39. Any taxes imposed under I.C. 6-1.1 on real property
subsequently levied by or for the benefit of any public body entitled to a distribution of property
taxes on taxable property in said Meridian & Main — Indiana Spine Group II Allocation Area shall be
allocated and distributed as follows:
Except as otherwise provided in said Section 39, the proceeds of taxes attributable to
the lesser of the assessed value of the property for the assessment date with respect to which
the allocation and distribution is made, or the base assessed value, shall be allocated to and
when collected paid into the funds of the respective taxing units. Except as otherwise
provided in said Section 39, property tax proceeds in excess of those described in the
previous sentence shall be allocated to the redevelopment district and when collected paid
into an allocation fund for the Meridian & Main — Indiana Spine Group II Allocation Area
hereby designated as the "Meridian & Main — Indiana Spine Group II Allocation Fund" and
may be used by the redevelopment district to do one or more of the things specified in
Section 39(b)(3) of the Act, as the same maybe 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 June 15 of each year, the Commission shall take the actions set
forth in Section 39(b)(4) of the Act.
12. The foregoing allocation provision shall apply to all of the Meridian & Main —
Indiana Spine Group lI Allocation Area. The Redevelopment Commission hereby finds that the
adoption of this allocation provision will result in new property taxes in the Meridian & Main —
Indiana Spine Group II Allocation Area that would not have been generated but for the adoption of
the allocation provision, as specifically evidenced by the findings set forth in Exhibit C hereto. The
base assessment date for the Meridian & Main — Indiana Spine Group II Allocation Area is January
1, 2016.
13. The provisions of this Resolution shall be subject in all respects to the Act and any
amendments thereto, and the allocation provisions herein relating to the Meridian & Main — Indiana
Spine Group II Allocation Area shall expire on the date that is twenty-five (25) years after the date
on which the first obligation is incurred to pay principal and interest on bonds or lease rentals on
leases payable from tax increment revenues derived from the Meridian & Main — Indiana Spine
Group II Allocation Area.
14. This Resolution, together with any supporting data, shall be submitted to the City of
Carmel Plan Commission (the "Plan Commission") and the Common Council of the City (the
"Council") as provided in the Act, and if approved by the Plan Commission and the Council, shall be
submitted to a public hearing and remonstrance as provided by the Act, after public notice as
required by the Act.
15. The officers of the Redevelopment Commission are hereby authorized to make all
filings necessary or desirable to carry out the purposes and intent of this Resolution.
16. The provisions of this Resolution shall be subject in all respects to the Act and any
amendments thereto.
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Adopted the 21St day of December, 2016.
CITY OF CARMEL, REDEVELOPMENT
COMMISSION
resident
(DO
Vice President
Secretary
Member
Member
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EXHIBIT A
Parcels to be removed from the Meridian & Main Allocation Area
The following parcels are removed from the Meridian & Main Allocation Area:
PARCEL ID NUMBER:
16-09-26-00-00-001.101
17-09-26-00-00-004.001
17-09-26-00-00-004.101
17-09-26-00-00-005.002
17-09-26-00-00-005.103 (from the Indiana Spine Group area)
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E.XHiRIT R
Description of the Meridian & Main — Indiana Spine Group II Allocation Area
The Meridian & Main — Indiana Spine Group II Allocation Area consists of the following
parcels:
PARCEL ID NUMBERS:
16-09-26-00-00-001.101
17-09-26-00-00-004.001
17-09-26-00-00-004.101
17-09-26-00-00-005.002
17-09-26-00-00-005.103
The Meridian & Main — Indiana Spine Group II Allocation Area also includes any and all public
rights of way that physically connect any of the above-described parcels.
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EXHIBIT C
Plan Supplement
The Development Plan is hereby supplemented by adding the following projects to the
Development Plan:
All or any portion of the completion of Pennsylvania Way and Grand Boulevard and other
roadways in the City, including all necessary design and construction of infrastructure and site work
related thereto, water, sewer and drainage improvements, the demolition of certain structures, as well
as the design, acquisition, construction, inspection and equipping of a parking garage or garages
necessary to achieve the City's desired density in the Development Area. The projects support a
mixed use project development in the Development Area consisting of retail, medical, office,
commercial, hotel and residential uses. The estimated cost of these improvements is approximately
$30,000,000, with an estimated amount of $986,000 to be paid from Tax Increment Revenues
generated in the Development Area.
Based on representations of the developer of the mixed use project, the Commission has
determined that the full development of the Meridian & Main — Indiana Spine Group II Allocation
Area will not proceed as planned without the contribution of tax increment revenues to be derived
from the Meridian & Main — Indiana Spine Group II Allocation Area to the projects described above.
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