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HomeMy WebLinkAboutCRC Resolution 2019-08 - SignedRESOLUTION NO.2019-08 RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION AMENDING THE DECLARATORY RESOLUTION AND THE DEVELOPMENT PLAN FOR THE CITY CENTER REDEVELOPMENT AREA WHEREAS, the City of Carmel Redevelopment Commission (the "Commission") pursuant to IC 36-7-14 (the "Act") serves as the governing body of the City of Carmel Redevelopment District (the "District"); and WHEREAS, the Commission has previously adopted and confirmed resolutions (collectively, the "Declaratory Resolution") which established and amended a redevelopment area pursuant to Section 15 of the Act known as the "City Center Redevelopment Area" (the "Redevelopment Area") and approved a redevelopment plan for the Redevelopment Area, which plan has subsequently been incorporated into and replaced by an Integrated Economic Development Plan & Amended Redevelopment Plan which applies to the Redevelopment Area (the "Plan") pursuant to the Act; and WHEREAS, the Commission now desires to amend the Declaratory Resolution and Plan to (i) add the described on Exhibit A attached hereto (the "2019 Expansion Area") as part of the Redevelopment Area, (ii) designate the entirety of the 2019 Expansion Area as a new allocation area pursuant to Section 39 of the Act to be known as the Magnolia Allocation Area (the "Magnolia Allocation Area"), and (iii) adopt a supplement to the Plan attached hereto as Exhibit B (the "2019 Plan Supplement") (clauses (i) through and including (iii), collectively, the "2019 Magnolia Amendments"); and WHEREAS, the Commission hereby finds that normal development and occupancy in the 2019 Expansion Area are undesirable or impossible because of lack of development, cessation of growth, deteriorating improvements, age, and substandard buildings, which conditions cannot be corrected by regulatory processes or the ordinary operations of private enterprise without resort to the Act, the public health and welfare will be benefited by the acquisition and/or redevelopment of the 2019 Expansion Area under the Act and the 2019 Magnolia Amendments will result in new taxes in the 2019 Expansion Area that would not have been generated but for the adoption of the 2019 Magnolia Amendments; and WHEREAS, the Commission has caused to be prepared maps and plats showing the boundaries of the 2019 Expansion Area, the location of various parcels of property, streets, alleys, and other features affecting the acquisition, clearance, remediation, replatting, replanning, rezoning, or redevelopment of the 2019 Expansion Area, the parts of the 2019 Expansion Area to be devoted to public ways, levees, sewerage, and other public purposes under the Plan as amended herein, and lists of the owners of any parcels proposed to be acquired, together with an estimate of the cost of acquisition and redevelopment; and WHEREAS, the 2019 Magnolia Amendments and supporting data were reviewed and considered at this meeting; and WHEREAS, Sections 15, 16, and 17 of the Act have been created to permit the creation of "redevelopment project areas", and to provide that this Commission may exercise certain rights, powers, privileges and immunities in a redevelopment project area, subject to the conditions set forth in the Act; and WHEREAS, Section 39 of the Act has been created and amended to permit the creation and expansion of "allocation areas" to provide for the allocation and distribution of property taxes for the purposes and in the manner provided in said Section; and WHEREAS, this Commission deems it advisable to apply the provisions of said Sections 15, 16, 17, and 39 of the Act to the 2019 Magnolia Amendments; and WHEREAS, the Commission now desires to approve the 2019 Magnolia Amendments. NOW, THEREFORE, BE IT RESOLVED by the City of Carmel Redevelopment Commission, governing body of the City of Carmel Redevelopment District, as follows: 1. The Commission hereby reaffirms its findings that the Redevelopment Area, including the 2019 Expansion Area, is an "an area needing redevelopment" within the meaning of Section 15 of the Act, because it is an area in which normal development and occupancy are undesirable or impossible because of the lack of development, the cessation of growth and the deterioration of improvements in the Redevelopment Area; the character of occupancy, age, and obsolescence of property in the Redevelopment Area; the substandard condition of buildings in the Redevelopment Area; and other factors that impair values or prevent a normal use or development of property in the Redevelopment Area. 2. The 2019 Plan Supplement for the 2019 Expansion Area cannot be achieved by regulatory processes or by the ordinary operation of private enterprise without resort to the powers allowed under the Act because of lack of development, cessation of growth, deteriorating improvements, age and the substandard condition of buildings in the Redevelopment Area. The public health and welfare will be benefited by the 2019 Magnolia Amendments. 4. It will be of public utility and benefit to amend the Declaratory Resolution and the Plan for the Redevelopment Area, as expanded by the 2019 Expansion Area, as provided in the 2019 Magnolia Amendments and to continue to develop the Redevelopment Area, as expanded by the 2019 Expansion Area under the Act. 5. The accomplishment of the 2019 Plan Supplement for the 2019 Expansion Area 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. 6. The Declaratory Resolution and the Plan, as amended by this Resolution and the 2019 Plan Supplement, conform to the comprehensive plan of development for the City of Carmel, Indiana (the "City"). 7. The 2019 Magnolia Amendments are reasonable and appropriate when considered in relation to the Declaratory Resolution and Plan and the purposes of the Act. 8. The findings and determinations set forth in the Declaratory Resolution and the Plan are hereby reaffirmed. 9. In support of the findings and determinations set forth in Sections 1 through 7 above, the Commission hereby adopts the specific findings set forth in the 2019 Plan Supplement. 10. The Commission does not at this time propose to acquire any additional parcels of land or interests in land within the boundaries of the 2019 Expansion Area. If at any time the Commission proposes to acquire specific parcels of land, the required procedures for amending the Plan, as amended by the 2019 Plan Supplement, under the Act will be followed, including notice by publication to affected property owners and a public hearing. 11. The Commission finds that no residents of the Redevelopment Area, as amended by the 2019 Expansion Area, will be displaced by any project resulting from the 2019 Plan Supplement, and therefore finds that it does not need to give consideration to transitional and permanent provision for adequate housing for the residents. 12. The 2019 Expansion Area is hereby added to the Redevelopment Area and is designated as a "Redevelopment Area" under the Act. 13. The 2019 Magnolia Amendments are hereby in all respects approved. 14. The entirety of the 2019 Expansion Area is hereby designated as an "allocation area" pursuant to Section 39 of the Act, to be known as the "Magnolia Allocation Area", for purposes of the allocation and distribution of property taxes for the purposes and in the manner provided by said Section. 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 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 Magnolia Allocation Area hereby designated as the "Magnolia 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 may be 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. 15. The foregoing allocation provision shall apply to the Magnolia Allocation Area. The Commission hereby finds that the adoption of this allocation provision will result in new property taxes in the Magnolia 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 B. The base assessment date for the Magnolia Allocation Area is January 1, 2019. 16. 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 Magnolia 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 Magnolia Allocation Area. 17. 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. 18. The officers of the Commission are hereby authorized to make all filings necessary or desirable to carry out the purposes and intent of this Resolution. 19. The provisions of this Resolution shall be subject in all respects to the Act and any amendments thereto. Adopted the 25 h day of June, 2019. CITY OF CARMEL COMMISSION President Member EXHIBIT A Description of the 2019 Expansion Area and the Magnolia Allocation Area The 2019 Expansion Area consists of the following parcels, together with any and all public rights of way that physically connect any of the described parcels to each other and the existing Redevelopment Area; the 2019 Expansion Area shall be added to the Redevelopment Area and shall be designated as an allocation area to be known as the Magnolia Allocation Area. PARCEL ID NUMBERS: 16-10-31-01-12-015.000 16-10-31-01-12-002.000 16-10-31-01-12-005.000 16-10-31-01-12-006.000 EXHIBIT B 2019 Plan Supplement The Plan is hereby supplemented by adding the following project to the Plan: The contribution of land and the design and construction of a condominium complex to be located within the Magnolia Allocation Area (the "Project"). The Commission will capture tax increment revenues from the Magnolia Allocation Area to compensate the Commission for the value of the land that it will contribute to the Project. Based on representations by the developer of the Project, the Project will not proceed as planned without the contribution of land by the Commission. The capture of tax increment revenues from the Magnolia Allocation Area will allow the Commission to afford to make this contribution of land by providing this alternative means of compensation to the Commission. DMS 14663680v1