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HomeMy WebLinkAboutCC-04-21-97-04 Merchanst Square EDARESOLUTION NO. 0 (~.- Dt-} - ~1 -q 7 - D q A RESOLUTION OF THE COM1VION COUNCIL OF THE CITY OF CARMEL, INDIANA REGARDING THE ESTABLISFIM~NT OF THE 1VIERC~S SQUARE ECONOMIC DEVELOPMENT AREA WHEREAS, the Carreel Redevelopment Commission ("Commission") did on February 18, 1997 adopt a declaratory resolution ("Declaratory Resolution") establishing the Merchants Square Economic Development Area as an economic development area under IC 36-7-14 and confirmed the Declaratory Resolution on April 21, 1997, alter conducting a public heating; and WHEREAS, IC 36-7-144 l(c) requires that the determination that a geographic area is an economic development area be approved by the Common Council of the City of Cannel; and WHEREAS, the Common Council reviewed the Declaratory resolution as confirmed, the Commission's Economic Development Plan approved by the Declaratory Resolution and the written order of the Carreel-Clay Plan Commission regarding the Declaratory Resolution and the Plan. NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF ~ CITY OF CARMEL, INDIANA THAT: 1. The Common Council hereby finds and determines that it will be in the best interests of the City to establish an economic development area in the Merchants Square Economic Development Area as described in the Declaratory Kesolution, attached hereto as Exhibit A. 2. The establishment of an economic development area in the area known as the Merchants Square Economic Development Area as described in the Declaratory Resolution and in Exhibit A to the Declaratory Kesolution is hereby approved. Mayor. This resolution shall be effective from and after passage and approval by the PASSED by the Common Council of the City of Carmel, Indiana this of (2/~ ?' ,1997 by a vote of ~ ayes and (') nays. day COMMON COUNCIL FOR THE CITY ~ PreS, idinSOffi~er _}~1 .side ~nald E. Carter Bil alker ATTEST: Presented by me to the Mayor of the City of Carmel, Indiana on the / '~ o f ~ ,19 9 7. an~a~y, ~r Di Approved by me, Mayor of the City of Carreel, Indiana, this ,1997. /' ~laxd, Y[ayor [ "%7'day of day Diana L. Cordray, Clerk-Treas~'~/ RESOLUTION CONFIRMING THE RESOLUTION OF THE CAKMEL REDEVELOPMENT COMMISSION ADOPTED ON FEBRUARY 18, 1997, ENTITLED "DECLARATORY RESOLUTION OF THE CAKMEL REDEVELOPMENT COMMISSION" I~st~me~t Resolution No. 2 - 1997 gTOg~467f~25 WItEKEAS, the City of Cannel ("City") Redevelopment Commission ("Commission") did on February 18, 1997, adopt a declaratory resolution (Resolution No. 1-1997) entitled "Declaratory Resolution of the City of Cannel Redevelopment Commission" ("Declaratory Resolution") establishing the Merchants Square Economic Development Area C Area") as an economic development area under IC 36=7-14 and IC 36=7-25; and WHEREAS, the Declaratory Resolution approved the Economic Development Plan presented at the February 18, 1997, meeting of the Commission, which Economic Development Plan contained specific recommendations for redevelopment and economic development uses in the Area, including the construction of AAA Road and Keystone Way and the 116th Street signal and related infrastructure improvements including relocation of the post office parking lot as further described in the Economic Development Plan (the "Project"); and WHEREAS, the Declaratory Resolution recognized that there were current plans for the acquistion of real estate within the Area; and WHEREAS, the Declaratory Resolution established an allocation area ("Allocation Area") within the Area in accordance with IC 36-7-14-39; and WHEREAS, the Commission submitted the Declaratory Resolution and supporting data to the Cannel-Clay Plan Commsision ("Plan Commission") and the Plan Commission has issued its written order approving the Declaratory Resolution and the Economic Development Plan as submitted; and WHEREAS, the Common Council, by resolution adopted April 7, 1997, approved the order of the Plan Commission; and WHEREAS, the Commission has found that there will be no residems of the Area who will be displaced by the Project; and WHEREAS, the Commission published notice in the designated newspapers of the adoption and substance of the Declaratory Resolution in accordance with IC 36=7-14= 17 and IC 5-3= 1 on April 10, 1997, which notice also gave notice of a hearing on the proposed Project to be held by the Commission; and WHEREAS, the notice described in the preceding paragraph was also filed in the office of the Plan Commssiort, the Board of Zoning Appeals, the Board of Public Works and Safety, the 9709746765 Filed for Record in HAMILTON COUNTY, INDIANA MARY L CLARK On 11-03-1997 At 10:07 M I SC 39. O0 Carreel/Clay Board of Parks and Recreation, the Building Commissioner and any other departmems, bodies or officers having to do with City planning, variances from zoning ordinances, land use, or the issuance of building permits; and WHEREAS, copies of the notice were also filed on April 10, 1997, with the officer authorized to fix budgets, tax rates and tax levies under IC 6-1.1-17-5 for each taxing unit that is either wholly or partly located within the proposed Allocation Area, together with a statement disclosing the impact of the Allocation Area, including the following: (A) The estimated economic benefits and costs incurred by the Allocation Area, as measured by increased employment and anticipated growth of real property, personal property and inventory assessed values; and (B) The anticipated impact on tax revenues of each taxing unit; and WHEREAS, the Commission, on April 21, 1997, conducted a public heating at which the Commission heard all persons interested in the proceedings and considered all written remonstrances and objections that were filed. NOW, THEREFORE, BE IT RESOLVED by the Cannel Redevelopment Commission ~at: 1. The Commission has considered the evidence presented and now finds and determines that it will be of public utility and benefit to proceed with the establishment of the Area and the Project in the Area. 2 The Declaratory Kesolution and Economic Development Plan approved by the Commission on February 18, 1997, copies of which are attached hereto and incorporated herein, are hereby confirmed. 3. The Secretary is instructed to submit this Resolution to the Common Council for approval of the establishment of the Area. 4. The Declaratory Resolution, as continned, shall be attached to and incorporated in this Kesolution. The Secretary is hereby directed to record this Kesolution with the Hamilton County Recorder, to immediately notify the State Board of Tax Commissioners of the designation of the Allocation Area within the Area and to file this resolution with the Hamilton County Auditor. Adopted at a meeting of the Carreel Redevelopment Commission held April 21, 1997, in the City Building, in the City of Cannel, Hamilton County, Indiana. CARMEL REDEVELOPMENT COMMISSION Me t~og~sc'~Vi~e-President Amy B 'SeCretary Susan Westermeier, Member ATTEST: A~(y~B dt: Secretary d:Xf'ormx1997r~tv.~2 RESOLUTION NO. 1-1997 DECLARATORY RESOLFrION OF THE CARMEL REr}EVELOPMRNT COMMISSION WHEREAS, the City of Carreel ("City") Redevelopment Commission ("Commission") has investigated, studied and surveyed economic development areas within the corporate boundaries of the City; and WHEREAS, the Commission has selected an economic development area to be developed under IC 36-7-14 and IC 36-7-~25 (collectively, the "Act"); and WI:m~AS, the Commission has prepared an economic development plan ("Plan") for the selected economic development area, which Plan is attached to and incorporated by reference in this resolution; and WHEREAS, the Commission has caused to be prepared: (1) Maps and plats showing: (A) the boundaries of the economic development area, the location of various parcels of property, streets, alleys, and other features affecting the acquisition, clearance, replatting, replanning, rezoning or economic development of the area, indicating any parcels of property to be excluded from the acquisition; and (B) the pans of the acquired areas that are to be devoted to public ways, levees, sewerage, parks, playgrounds, and other public purposes under the Plan; (2) Lists of the owners of the various parcels of property proposed to be acquired; and (3) An estimate of the cost of acquisition, redevelopment and economic development; and WHEREAS, the Commission has mused to be prepared a factual report ("Report") in support of the findings contained in this resolution, which Report is attached to and incorporated by reference in this resolution; NOW, T~ORE, BE IT RF. SOLVED BY THE COMMISSION THAT: (1) The Commission has selected as an economic development area an area within its corporate boundaries, which area the Commission is hereby designating as the Merchants 4'~S07.4 Square Economic Development Area ("Economic Development Area"), and which Economic Development Area is described in Exhibit A. (2) The Commission finds that the Plan for the Economic Development Area: (A) Promotes significant oppormrdties for the gainful employment of the citizens of the City; (B) Attncts at least one major new business enterprise to the City; (C) Retains or expands a significant business enterprise existing in the City; (D) Benefits the public health, safety, morals and welfare of the citizens of the City; (E) Increases the economic well-being of the City and the State of Indiana; and Serves to protect and increase property values in the City and the State of Indiana. (3) The Commission finds that the Plan cannot be achieved by regulatory processes or by the ordinary operation of private enterprise without resort to the powers allowed the Commission under IC 36-7-14 because of: (A) The lack of local public improvements; (B) Existence of conditions that lower the value of the land below nearby land; and (c) Other similar conditions, specifically: the existing shopping center is obsolete because mall tenants have been moving to other malls in the area and shoppers now prefer strip malls and is 50-60% vacant. (4) The Commission finds that the public health and welfare will be benefitted by the accomplishment of the Plan for the Economic Development Area, specifically by rehabilitating an obsolete retail facility and providing a new modern retail facility which will benefit the citizens of Carreel and the surrounding area. (5) The Commission finds that the accomplishment of the Plan will be of public utility and benefit as measured by: (A) The attraction and retention of permanent jobs; CB) An increase in the property tax base; (c) Other similar benefits, specifically: the construction of a new retail facility and related infrastructure will remove an obsolete and mostly vacant facility replacing it with new businesses which will improve the quality of life for the City's residents. (6) The plan for the Economic Development Area conforms to other development and redevelopment plans for the City. (7) The Commission proposes to acquire interests in real property within the boundaries of the Economic Development Area as shown in the Plan. (8) The Commission estimates that the cost of implementing the Plan will not exceed $2,500,000. (9) The Commission finds that no residents of the Economic Development Area will be displaced by any project resulting from the Plan; and, therefore, the Commission finds that it does not need to give consideration to wansitional and permanent provisions for adequate housing for the residents. (10) This pangraph shall be considered the allocation provision for the purposes of IC 36-7-14-39. The entire Economic Development Area shall constitute an allocation area as defined in IC 36-7-14-39. Any property taxes levied on or after the effective date of this resolution by or for the benefit of any public body entitled to a distribution of property taxes on taxable property in the allocation area shall be allocated and distributed in accordance with IC 36-7-14-39. This allocation provision shall expire no later than 30 years after the effective date of this resolution but no earlier than the payment in full of all obligations payable from such (11 ) All of the rights, powers, privileges, and immunities that may be exercised by the Commission in a redevelopment area or urban renewal area may be exercised by the Commission in the Economic Development Area, subject to the limitations in IC 36-7-1443. (12) The presiding officer of the Commission is hereby authorized and directed to submit this resolution, the Plan, and the Report to the CarmeYClay Plan Commission for its approval. (13) The Commission also directs the pre~ding officer, upon receipt of the written order of approval of the CarmeYClay Plan Commission which has been approved by the Common Council to publish notice of the adoption and substance of this resolution in accordance with IC 5-3-14 and to ~e notice with the Carreel/Clay Plan Commission, the Board of Zoning Appeals, the Board 'of Public Works, the Park Board, the building commissioner and any other departments or agencies of the City concerned with unit planning, zoning variances, land use or the issuance of building permits. The notice must state that maps and plats have been prepared and can be inspected at the office of the City' s department of redevelopment and must establish a date when the Commission will receive and hear remonstrances and objections from persons interesuxt in or affected by the proceedings pemining to the proposed project and will determine the public utility and benefit of the proposed project. Copies of the notice must also be filed with the officer authorized to fix budgets, tax rates and tax levies under IC 6-1.1-17-5 for each taxing unit that is either wholly or partly located within the proposed allocation area. (14) The Commission also directs the presiding officer to prepare or cause to be prepared a statement disclosing the impact of the allocation area, including the following: (A) The estimated economic benefits and costs incurred by the allocation area, as measured by increased employment and anticipated growth of real property, personal property and inventory assessed values; and (B) The anticipated impact on tax revenues of each taxing unit that is either wholly or partly located within the allocation area. A copy of this statement shall be forwarded to each such taxing unit with a copy of the notice required under Section 17 of the Act at least l0 days before the date of the hearing described in Section 14 of this resolution. (15) The Commission further directs the presiding officer to submit this resolution to the Common Council for its approval of the establishment of the Economic Development Area. (16) This Resolution shall be effective as of its date of adoption. 4~J~107.4 - 4 ' Adopted February 18, 1997. CARM~L KEDEV~-LOPMENT COMMISSION ¢ c -~. Tifie 'rifle Tide Ti~e 'ritlc ATT~T: gXttlBIT A Description of Merchants Square Economic Development Area [Attached] 4'2'~Jw{~Y7.4 FACTUAL REPORT IN SUPPORT OF FINDINGS CONTAINED IN RF~OLUTION NO. 1-1997 OF THE CARMEL RFI~EVELOPM'F~NT COMMISSION 1. The Plan for the Economic Development Area will promote significant opportunities for the gainful employment of citizens of the City of Carreel ("City") as follows: The construction of the new shopping center will provide approximately 400 jobs for the citizens of the City plus approximately 200 construction jobs. 2. The Plan will attract a major new business enterprise to, or will retain or expand an existing significant business enterprise in, the City as follows: The new facility will include a Marsh Supermarket that is approximately twice as large as the existing facility plus at least 6-7 new businesses. Negotiations are currently underway with several upstale lifestyle retailers. 3. The planning, replanning, development, and redevelopment of the Economic Development Area will benefit the public health, safety, morals and welfare; increase the economic well-being of the City and the State of Indiana; and serve to protect and increase property values in the City and the State of Indiana as follows: The construction of the new shopping center will replace a 50-60% vacant and obsolete facility, and will provide a modern and efficient location for new businesses to operate. 4. The Plan for the Economic Development Area cannot be achieved by regulatory processes or by the ordinary operation of private enterprise without resort to IC 36-7-14 (the redevelopmerit statute) because of the lack of local public improvements existence of conditions that lower the value of the land below that of nearby land, and multiple ownership of land because: The existing infrastructure, particularly the roads system does not provide efficient access to the site making it difficult for businesses to operate profitably. A new road system will improve access and is expected to atwact new businesses to the site. The site currently has several owners and the consolidation will help the development and infrastructure construction to occur more efficiently. 5. The accomplishment of the Plan for the Economic Development Area will be of public utility and benefit as measured by: (1) The attraction of an estimated 400 permanent jobs; (2) An estimated increase in the property tax base of $9,400,000 to $11,400,000 of assessed valuation ($3,400,000 real estate and $6,000,000 to $8,000,000 personal property and inventory (based on an estimated investment of $20,000,000 to $25,000,000)); and (3) Improved diversity of the economic base as follows: by attracting new retail facilities as described above and retaining some existing businesses, such as the Marsh Supermarket. 6. The Commission estimates that it will need to issue bonds or enter into a lease financing of approximately $2,500,000 to implement the Plan. -2- ECONOMIC DEVELOPMENT PLAN FOR THE ECONOMIC DEVELOPMENT AREA CARMEL I~Fx}EVELOPMENT COMlVHgSION Purpose and Introduction. This document is the Economic Development Plan ("Plan") for the Merchants Square Economic Development Area ("Economic Development Area") for the City of Cannel, Indiana ("City"). It is intended for approval by the Common Council, the Carreel/Clay Plan Commission and the Carmel Redevelopment Commission ("Redevelopment Commission") in conformance with IC 36-7-14. Project Objectives. The purposes of the Plan are to benefit the public health, safety, morals, and welfare of the citizens of the City; increase the economic well-being of the City and the State of Indiana; and serve to protect and increase property values in the City and the State of Indiana. The Plan is designed to promote significant opportunities for the gainful employment of citizens of the City, attract a major new business enterprise to the City, retain or expand existing significant business enterprises to the City, provide for local public improvements in the Economic Development Area, remove improvements or conditions that lower the value of the land in the Economic Development Area below that of nearby land, resolve problems associated with multiple ownership of land, attract and retain permanent jobs, increase the property tax base, and improve the diversity of the economic base of the City. The factual report attached to this Plan contains the supporting data for the above declared purposes of the Plan. Description of Project Area. The Economic Development Area is located in the City and is described as that area contained in the maps and plats attached to this Plan. The general description of the area is the property north of l l6th SWeet and east of Keystone Avenue now known as Keystone Square including also Parcel No. 016.029 as shown on the map attached as Exhibit A to the declaratory resolution. The parcel list is attached hereto as Attachment A. Project Description. The economic development of the Economic Development Area will proceed in one phase, described as follows: AAA Road and Keystone Way and the l l6th Street signal and related infrastructure improvements including relocation of the Post Office parking lot ("Projects") Acquisition of Property. In order to accomplish the Projects, the Re, development Commission will acquire, without the use of eminent domain by the Re, development Commission, the interests in property described on the attached site plan which will be the rights-of-way for the Roads. The Redevelopment Commission shall follow procedures in IC 36-7-14-19 in the acquisition of property. The Redevelopment Commission may not exercise the power of eminent domain in an economic development area. Procedures with respect to the Projects. In accomplishing the Projects, the Redevelopment Commission may proceexl with the Projects before the acquisition of all interests in land in the Economic Development Area. All contracts for material or labor in the accomplishment of the Projects shall be let under IC 36-1. In the planning and rezoning of real property acquired or to be used in the accomplishment of the Plan; the opening, closing, relocation and improvement of public ways; and the construction, relocation, and improvement of sewers and utility services; the Redevelopment Commission shall proceed in the same manner as private owners of the property. The'Redevelopment Commission may negotiate with the proper officers and agencies of the City to secure the proper orders, approvals, and consents. Any construction work required in connection with the Projects may be carried out by the appropriate municipal or county department or agency. The Redevelopmerit Commission may carry out the construction work if all plans, specifications, and drawings are approved by the appropriate department or agency and the statutory procedures for the letting of the contracts by the appropriate department or agency are followed by the Redevelopment Commission. The Redevelopment Commission may pay any charges or assessments made on account of orders, approval, consents, and construction work with respect to the Projects or may agree to pay these assessments in installments as provided by statute in the case of private owners. None of the real property acquired for the Projects may be set aside and dedicated for public ways, parking facilities, sewers, levees, parks, or other public purposes until the Redevelopment Commission has obtained the consents and approval of the department or agency under whose jurisdiction the property will be placed. Disposal of Property. The Re, development Commission may dispose of real property acquired by sale or lease to the public after causing to be prepared two (2) separate appraisals of the sale value or rental value to be made by independent appraisers. However, if the real property is less than five (5) acres in size and the fair market value of the real property or interest has been appraised by one (1) independent appraiser at less than Ten Thousand Dollars ($10,000), the second appraisal may be made by a qualified employee of the Department of Redevelopment. The Re, development Commission will prepare an offering sheet and will maintain maps and plats showing the size and location of all parcels to be offered. Notice will be published of any offering in accordance with IC 5-3-1. The Redevelopment Commission will follow the procedures of IC 36-7-14-22 in making a sale or lease of real property acquired. Financing of the Projects. It is the intention of the Re, development Commission to issue bonds payable from incremental ad valorera property taxes allocated under IC 36-7-14-39 in order to raise money for property acquisition and completion of the Projects in the Economic Development Area. The mount of these bonds may not exceed the total, as estimated by the Redevelopment Commission of all expenses reasonably incurred in connection with the Projects, including: (z) developed; The total cost of all land, rights-of-way, and other property to be acquired and (2) All reasonable and necessary architectunl, engineering, legal, financing, accounting, advertising, bond discount and supervisory expenses related to the acquisition and development of the Projects or the issuance of bonds; and (3) Interest (not to exceed 5 years from the date of issuance) and a debt service reserve for the bonds to the extent the Redevelopment Commission determines that a reserve is reasonably required. (4) Expenses that the Redevelopment Commission is required or permitted to pay under IC 8-23-17. In the issuance of bonds the Redevelopment Commission will comply with IC 36.7-14- 25.1. 479407.4 - 3 - As an alternative to the issuance of bonds or in conjunction with it, the Redevelopment Commission may enter into a lease of any property that could be financed with the proceeds of bonds under IC 36.7-14. The lease is subject to the provisions of IC 36-7-14-25.2 and IC 36-7- 14-25.3. Amendment of the Plan. By following the procedures specified in IC 36-7-14-17.5, the Redevelopment Commission may amend the Plan for the Economic Development Area. However, any enlargement of the boundaries of the Economic Development Area must be approved by the Common Council.