HomeMy WebLinkAboutResolution 2017-09 (Intent of TIF increment)RESOLUTION NO.2017-09
RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION OF ITS
DETERMINATION OF NEED TO CAPTURE TAX INCREMENT REVENUES
WHEREAS, the City of Carmel Redevelopment Commission (the "Commission') previously has
established and expanded the Economic Development Areas, see attached Exhibit A (the "Economic Development
Areas"), and designated the Economic Development Areas as the "Allocation Areas", see attached Exhibit A (the
"Allocation Areas") for purposes of capturing incremental property taxes (the "TIF Revenues") pursuant to Indiana
Code 36-7-14-39 and IC 36-7-14-39.3; and
WHEREAS, under IC 36-7-14-39(b)(4) the Commission is required to make certain determinations relating
to its need to capture TIF Revenues for the following budget year.
WHEREAS, The Secretary of the Commission will provide the required notification to the taxing units
impacted by the Economic Development Areas, as detailed in Exhibit B, of the Commissions intent to capture all of
the available TIF Revenues for budget year 2018.
NOW, THEREFORE, BE IT RESOLVED by the Commission, governing body of the City of Carmel
Department of Redevelopment, as follows:
1. Pursuant to IC 36-7-14-39(b)(4), the Commission hereby makes the determination that, for budget year
2018, all of the incremental assessed value of taxable property in the Allocation Areas is needed to produce TIF
Revenues necessary to make, when due, principal and interest payments on bonds issued or to be issued pursuant to
IC 36-7-14-39(b)(3), plus the amount necessary for other purposes described in IC 36-7-14-39(b)(3). The
Commission therefore determines that there is no excess assessed value in the Allocation Areas that may be
allocated to the respective taxing units in the manner prescribed in IC 36-7-14-39(b)(1).
2. The Commission hereby directs the Secretary of the Commission to provide written notifications of the
determinations made herein to the Hamilton County Auditor, the Hamilton County Council, Carmel City Council,
and each taxing unit that is wholly or partly located within the Allocation Areas, in the manner set forth in IC 36-7-
14-39(b)(4)(B).
3. This Resolution shall take effect immediately upon adoption.
ADOPTED by the Commission this 17th day of May 2017.
CITY OIK CARMEL RE ELOPMENT COMMISSION
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Exhibit A
Economic Development Area
Allocation Area
116th Street Center 1
116th Street Center
Amended 126th Street
Amended 126th Street
Amended 126th Street Expansion
Amended Illinois Street
Amended Illinois Street
Arts District Lofts and Shoppes
Arts District Lofts and Shoppes
Carmel City Center
Carmel City Center
Carmel City Center Amended
Kent
Carmel Downtown EDA
Carmel Downtown I
Carmel Downtown 2
Carmel Downtown 3
Motor Court East
Motor Court West
Pedcor Office 5
Carmel Drive
Carmel Drive
CRC Parcel 12
CRC Parcel 12
Gramercy
Gramercy
Grand and Main
Grand and Main
Gunstra
Gunstra
Hazel Dell North
Hazel Dell North
Hazel Dell South
Hazel Dell South
Lauth-Walker
Lauth-Walker
Legacy Legacy
Lurie Lurie
Exhibit A
Economic Development Area
Merchants Pointe
Merchants Square
Meridian & Main
MISO
National City TAA
North Illinois Street
Old Meridian
Old Methodist
Old Town
Old Town Shoppes
Olivia on Main
Parkwood Crossing
Parkwood East
Proscenium
West Clay
Allocation Area
Merchants Pointe
2006 Merchants Pointe TIF
Merchants Square
Meridian & Main
Meridian & Main Spine Group
MISO
National City TAA
North Illinois Street
North Illinois Street Expansion
Old Meridian
Old Meridian Expansion
Old Methodist
Old Town
Old Town Shoppes
2006 Old Town Shoppes Expansion
Olivia on Main
Parkwood Crossing
Parkwood East
Proscenium
West Clay
Exhibit B
Distribution List
• Township Board of Clay Township
c/o Douglas Callahan, Trustee
10701 North College Avenue, Suite B
Indianapolis, Indiana 46280
• Hamilton County Solid Waste Management District Board
c/o Sue Maki, President
33 North 9th Street, Suite L21
Noblesville, Indiana 46060
• City Council of the City of Carmel
c/o Christine Pauley, Clerk -Treasurer
Carmel City Hall, Third Floor
One Civic Square
Carmel, Indiana 46032
• Carmel Clay Public Library Board
c/o Bob Swanay, Director
55 4th Avenue SE
Carmel, Indiana 46032
• Carmel -Clay School Corporation Board of Trustees
c/o Dr. Nicholas Wahl, Superintendent
5201 East Main Street (1315t)
Carmel, Indiana 46033
• Hamilton County Council
c/o Fred Glynn, Council President
1 Hamilton County Square, Suite 157
Noblesville, Indiana 46060
• Robin Mills
Hamilton County Auditor
33 North 9th Street, Suite L21
Noblesville, Indiana 46060