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HomeMy WebLinkAboutCC-02-20-17-03 Old Meridian Economic Development AreaSponsors: Councilors Kimball and Worrell RESOLUTION CC -02-20-17-03 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA APPROVING CERTAIN MATTERS IN CONNECTION WITH THE OLD MERIDIAN ECONOMIC DEVELOPMENT AREA Synopsis: Resolution approves establishment of Meridian & Main -- Spine Group II Allocation Area and supplement to the Old Meridian Economic Development Plan. 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), adopted its Resolution No. 2016-17 on December 21, 2016 (the "CRC Resolution"), which established a new Meridian & Main -- Spine Group II Allocation Area in the previously declared Old Meridian Economic Development Area (the "Economic Development Area") and amended the Economic Development Plan (the "Plan") for the Economic Development Area (such Plan amendments, the "Plan Supplement"); and WHEREAS, the City of Carmel Plan Commission, on January 17, 2017, approved and adopted a resolution (the "Plan Commission Order") determining that the CRC Resolution and Plan Supplement conform to the plan of development for the City of Carmel, Indiana (the "City") and approving the CRC Resolution and the Plan Supplement; and WHEREAS, pursuant to Section 16(b) of the Act, the Redevelopment Commission has submitted the CRC Resolution and the Plan Supplement to the Common Council of the City. 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 determines that the CRC Resolution and the Plan Supplement conform to the plan of development for the City, and approves the CRC Resolution, the Plan Supplement, and the Plan Commission Order. 2. The Common Council of the City hereby approves the creation of the Meridian & Main — Spine Group II Allocation Area. 3. 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. 1-ki PASSED by the Common Council of he City of Carmel, this day of , 20175 by a vote of ayes and V nays. S COMMON COUNCIL OF THE CITY OF RME , IN 'r .sidet Z11�> Anthony Gree Kevin D. Rider, Vice President �0+ Laura Campbell onald E. Carter rv0I-w W44 � 40a�, C T ey, Clerk- reas er of the City ille of Carmel, Indiana esented by me to the Mayor of the City of Cariniel, Indiana this iof e% �vtb!' , 2017, at J00A.M. f7 C y, derkfreas6rer Approved by Ome, Mayor of the City of Carmel, Indiana, this day of F' -'A k a` � 2017, at �.M. ATTEST: no, 4�� C-7 C erk-Treasurer Prepared by: Bruce D. Donaldson Barnes & Thornburg LLP 11 South Meridian Street Indianapolis, IN 46204 DMS BDD 4657270v2 2 J es Brainard, Mayor RESOLUTION NO. PC -01-17-2017-a RESOLUTION OF THE CITY OF CARMEL PLAN COMMISSION APPROVING AMENDMENTS TO THE DECLARATORY RESOLUTION AND DEVELOPMENT PLAN FOR THE OLD MERIDIAN ECONOMIC DEVELOPMENT AREA WHEREAS, the City of Carmel Redevelopment Commission (the "Redevelopment Commission') on December 21, 2016, approved and adopted its Resolution No. 2016-17 (the "Resolution") approving certain amendments to the declaratory resolution and development plan for the Old Meridian Economic Development Area (the "Plan Supplement"); and WHEREAS, the Redevelopment Commission has submitted the Resolution and the Plan Supplement to this Plan Commission. NOW, THEREFORE, BE 17' RESOLVED BY THE CITY OF CARMEL. PLAN COMMISSION, as follows: . 1. The Resolution and the Plan Supplement conform to the plan of development for the City of Carmel, Indiana. 2. This Plan .Commission hereby approves the Resolution and the Plan Supplement. This resolution hereby- constitutes the written .order of the Plan Commission approving the Resolution and the Plan Supplement pursuant to I.C. § 36-7-14-16. 3. The 1 Secretary.- of this Plan Commission is hereby directed to file a: copy of the Resolution and:the Plan Supplement with the minutes of this meeting. SO RESOLVED BY THE CITY OF CARMEL PLAN COMMISSION this 171x' day of January, 2017. C-11 F C L P N OMMISSION President ATTEST: Secretary DMS BDD 4556268v1 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 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 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 on 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 orbythe 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. 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. 5. 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 proj ect resulting from the Plan Supplement, and therefore finds that it does not need to give consideration to transitional and pennanent 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 —2— 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 Il 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 H 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 II 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 11 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 I1 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 H 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 11 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 Cominission 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. Sim Adopted the 21" day of December, 2016. CITY OF CARMEL REDEVELOPMENT COMMISSION 0,0 resident C Vice President Secretary Member Member^ —4— 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) —5— EXHIBIT B Description of the Meridian & Main — Indiana Spine Group II Allocation Area The Meridian & Main — Indiana Spine Group H 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. mm Meridian & Main Tax Allocation Areas % Cow. H fill -7- -- - ------- ri! % - ----- ----- Vivia n fY 0 C4,------ F? 1 fl I } ti" 1 ( �� r—tit --- — �.� �i Trod MIR& r r. November 3, 2016 F-7 Parcels L -1A 0 J N 1:5,569 0.0475 0.095 0.19 Mi 0 0.075 0.15 0.3 km Basemap 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. DMS AWILLIAMS 4500367v! -%- I