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HomeMy WebLinkAboutResolution CC-03-04-19-02 Confirmatory Resolution ATAPCO Carmel, Inc Sponsor: Councilor Campbell RESOLUTION NO. CC 03-04-19-02 A CONRIRMATORY RESOLUTION DESIGNATING AN ECONOMIC REVITALIZATION AREA FOR ATAPCO CARMEL, INC. AND APPROVING DEDUCTIONS FOR REAL PROPERTY Synopsis: A resolution confirming the designation of the real property located at 645 West Carmel Drive,Carmel, Indiana as an economic revitalization area and grants a partial abatement of property taxes attributable to certain capital improvements made to the real property. WHEREAS, Indiana Code 6-1.1-12.1 (the "Act") allows a partial abatement of property taxes attributable to real property in"economic revitalization areas"; and, WHEREAS, the Act provides that an economic revitalization area must be a geographic area which is within the corporate limits of a city and which has become undesirable for, or impossible of, normal development and occupancy because of lack of development, cessation of growth, deterioration of improvements or character of occupancy, age, obsolescence, substandard building or other factors which have impaired values or prevent a normal development of property or use of property; and, WHEREAS, the Act authorizes the Common Council of the City of Cannel, Indiana ("the Council") to designate economic revitalization areas by following a procedure involving adoption of a preliminary resolution, publication of a notice of a public hearing, conducting a public hearing and adoption of a final resolution confirming the preliminary resolution; and, WHEREAS, the Council believes that it is in the best interests of the citizens of the City of Carmel (the "City")to create an economic revitalization area designation in a manner whereby citizens of the City of Carmel will benefit from the creation of permanent jobs, expansion of the property tax base, and protection of private investment; and, WHEREAS, Atapco Cannel, Inc. (the "Company"), has filed Statement of Benefits Form (SB-1)with the City of Carmel, a copy of which is attached hereto; and, This Resolution was prepared by Jon Oberlander,Cannel Assistant Corporation Counsel,on February 21,2019 at 11:58 a.m.No subsequent revision to this Resolution has been reviewed by Mr.Oberlander for legal sufficiency or otherwise. Sponsor: Councilor Campbell WHEREAS, the Company is requesting that the real estate located at 645 West Cannel Drive, Carmel, Indiana(the "Project Site")be designated as an Economic Revitalization Area for the purpose of achieving property tax savings in connection with the improvement of the real property("the Project") at the Project Site; and, WHEREAS, the Project Site is shown on Exhibit A, which is attached hereto and incorporated herein by this reference, and is presently part of Hamilton County Tax Parcel 16- 09-36-00-02-005.000; and, WHEREAS, the Company anticipates constructing approximately Four Million Six Hundred Thousand Dollars ($4,600,000) of capital building improvements at the Project Site, (hereinafter referred to as"Eligible Real Property"); and, WHEREAS, the Company anticipates the relocation of one hundred ten (110) existing employees compensated at an average annual wage of Ninety Thousand ($90,000) per year (excluding benefits) to Carmel as a result of the Project. The Company also anticipates adding approximately sixty eight(68)new employees compensated at an average annual wage of Ninety Two Thousand Dollars ($92,000)per year(excluding benefits)as a result of the Project; and, WHEREAS, the Council, on February 18, 2019, passed Preliminary Resolution CC 02- 18-19-02 which preliminarily designated the Project Site as an Economic Revitalization Area and established schedules of deduction to the assessed value of Eligible Real Property located at the Project Site; and, WHEREAS, a Notice of Adoption of the Preliminary Resolution and Notice of Public Hearing to be held on March 4, 2019 was duly published in the Noblesville Times newspaper on the 22nd day of February, 2019; and, WHERAS,the public hearing advertised in the above notice has been held. This Resolution was prepared by Jon Oberlander,Cannel Assistant Corporation Counsel,on February 21,2019 at 11:58 a.m.No subsequent revision to this Resolution has been reviewed by Mr.Oberlander for legal sufficiency or otherwise. Sponsor: Councilor Campbell BASED UPON THE ABOVE, IT IS THEREFORE RESOLVED, by the Common Council of the City of Carmel as follows: 1. The application for an economic revitalization area designation relative to the Project was filed in proper form and the Statement of Benefits Form (SB-1), which was filed as of January 29, 2019, is hereby approved by the Council. 2. The Project Site is located in an area of the City where municipal services are provided and no additional infrastructure will be necessitated by the Project. 3. There is evidence provided which establishes that the subject real estate meets with "undesirable for normal development" criterion of Indiana Code 6-1.1-12.1-1 due to the following conditions: a. The Project Site is zoned for and is generally suitable for the proposed use of commercial office; however, given the age of the facility at the Project Site and the complexity of the technology systems being installed at the site, and security systems and structures required, it will require significant additional investment in Eligible Real Property improvements to accommodate the Project. b. The proposed use of the Project Site as a corporate headquarters is consistent with the site's existing development pattern and represents a superior use for the Project Site. 4. Evidence has been submitted and considered which tends to establish that the Project will further and promote municipal development objectives by expansion of the property tax base through the Eligible Real Property improvements constructed as part of the Project. 5. The Council hereby designates the Project Site as an Economic Revitalization This Resolution was prepared by Jon Oberlander,Cannel Assistant Corporation Counsel,on February 21,2019 at 11:58 a.m.No subsequent revision to this Resolution has been reviewed by Mr.Oberlander for legal sufficiency or otherwise. Sponsor: Councilor Campbell Area for purposes of establishing a deduction to the assessed value of the Eligible Real Property capital improvements constructed upon the Project Site. 6. The deduction provided by this Resolution shall be for the assessed value of all Eligible Real Property improvements constructed at the Project Site on or prior to March 31, 2021, and for a period of ten (10) years from the date of the first full assessment of the Eligible Real Property located at the Project Site. The Company agrees to not file any appeal of annual tax assessments over the course of the ten (10) year period. The Council hereby finds, declares and determines that deductions from the assessed value of the Eligible Real Property approved by this Resolution shall be allowed pursuant to the following ten (10) year deduction schedule, which the Common Council hereby establishes,prescribes and adopts: YEAR OF DEDUCTION PERCENTAGE OF DEDUCTION 1st 75% 2nd 75% 3rd 75% 4th 75% Sty' 75% 6`h 75% 7th 75% 8th 75% 9th 75% 10th 75% l l th 0% 7. In support of the deductions contained in this Resolution, the Council makes the following FINDINGS: a. The Company's estimated cost of the improvements that are to be made to the Eligible Real Property is reasonable for a capital improvement project of that nature. b. The estimate of the number of individuals who will be employed or whose This Resolution was prepared by Jon Oberlander,Cannel Assistant Corporation Counsel,on February 21,2019 at 11:58 a.m.No subsequent revision to this Resolution has been reviewed by Mr.Oberlander for legal sufficiency or otherwise. Sponsor: Councilor Campbell employment will be relocated by the Company can be reasonably expected to result from the construction of Eligible Real Property improvements on the Project Site. c. The annual salaries for the individuals who will be employed or whose employment will be relocated by the Company can reasonably be expected to result from the construction of Eligible Real Property improvements on the Project Site. d. Based on the increased assessed valuation and the expansion of the employment base within the City of Carmel, the benefits to the City are sufficient to justify the granting of the deduction described in Section 6 above. 8. The deductions provided by this Resolution are subject to the Company's compliance with the terms of Indiana Code 6-1.1-12.1 and may only be modified or terminated by the City by following the procedures contained in Indiana Code 6-1.1-12.1-5.9. 9. A copy of this Resolution shall be filed with the Hamilton County Auditor as required by I.C. 6-1.1-12.1-3. [signature page follows] This Resolution was prepared by Jon Oberlander,Carmel Assistant Corporation Counsel,on February 21,2019 at 11:58 a.m.No subsequent revision to this Resolution has been reviewed by Mr.Oberlander for legal sufficiency or otherwise. Sponsor: Councilor Campbell )114 AA-. SO RESOLVED,by the common Council of the City of Cannel, Indiana, this- day of I''CWJ�V` , 2019,by a vote of (Q ayes and c0 nays. COMMON CO CIL FOR THE CITY OF CARMEL Je orr President Anthony e Laura D. Campbell, Vice- esident H. Bruce Kimball onald E. Carter evin D. Rider Nck- Piv)-01— Sue Finkam Christine S. Paul , Clerk-Treas r t'1, '(� Presented by me to the Mayor of the City of Carmel, Ind' a this day of V NcI,‘rclf\. 2019, at 10 100 �.M. 11--"t C ine S. Paul , Clerk- reas Approved y me, Mayor of the Cit of Cannel, Indiana,this day of /�a r 2019, at 7' es Brainard, Mayor A ST• Christine S. Paule ,Clerk-Treasurer Resolution CC 03-04-19-02 This Resolution was prepared by Jon Oberlander,Carmel Assistant Corporation Counsel,on February 21,2019 at 11:58 am.No subsequent revision to this Resolution has been reviewed by Mr.Oberlander for legal sufficiency or otherwise.