HomeMy WebLinkAboutCc-05-20-85 Econ Dev. 110thRESOLUTION OF THE COMMON COUNCIL
THE CITY OF CARMEL, INDIANA
WHEREAS, the city of Carmel, Indiana (the "Issuer") is
authorized by I.C. 36-7-12 (the "Act") to issue revenue bonds for
the financing of economic development facilities, the funds from
said financing to be used for the acquisition, construction, in-
stallation, and equipping of said facilities either sold or leased
to a company or directly owned by a company; and
WHEREAS, Stenz & Associates or a partnership to be formed in
which Leo Stenz and Rodney Hall are general partners or a corpor-
ation to be formed in which Leo Stenz and Rodney Hall are princi-
pals (the ,,Applicant") has advised the Carmel Economic Development
Commission (the ,,Commission") and the Issuer that it proposes that
the Issuer either acquire, construct, install, and equip certain
economic development facilities and sell or lease the same to the
Applicant or loan the proceeds of an economic development finan-
cing to the Applicant for the same, said economic development
facilities to be the acquisition, construction, installation, and
equipping of a two phase development of a commercial office com-
plex (phase I will be the construction of a new building contain-
ing approximately 26,100 gross square feet and 22,200 net leasable
square feet of commercial office space for lease. Phase II will
be the construction of a new building containing approximately
79,200 gross square feet and 63,360 net leasable square feet of
commercial office space for lease) and the machinery and
certain site improvements
Street on approximately 6
(the ,,Project"); and
equipment to be installed therein plus
to be located at 10015 North Meridian
acres of land, Hamilton county, Indiana
WHEREAS, the diversification of industry and increase in job
opportunities (approximately 5 new jobs at the end of one year and
at the end of three years) to be achieved by the acquisition, con-
struction, installation and equipping of the Project will be of
public benefit to the health, safety and general welfare of the
Issuer and the citizens of Hamilton County, Indiana; and
WHEREAS, having received the advice of the Carmel Economic
Development commission, it would appear that the financing of the
Project will be of public benefit to the health, safety and
and the citizens of Hamilton County,
general welfare of the Issuer
Indiana; and
WHEREAS, it is preliminarily found that the acquisition, con-
struction, installation and equipping of the facilities will not
have an adverse competitive effect on any similar facility already
constructed or operating in or about Carmel or Hamilton county,
Indiana; now therefore:
BE IT RESOLVED BY THE COMMON COUNCIL AS FOLLOWS:
SECTION 1. The common Council of the City of Carmel finds,
determines, ratifies and confirms that the promotion of diversifi-
cation of economic development and job opportunities in and near
Carmel and Hamilton County, Indiana, is desirable to preserve the
health, safety and general welfare of the citizens of the Issuer;
and that it is in the public interest that the commission and said
Issuer take such action as it lawfully may to encourage diversifi-
cation of industry and promotion of job opportunities in and near
said Issuer.
SECTION 2. The Common council of the city of Carmel, further
finds, approves, determines, ratifies, and confirms that the
issuance and sale of economic development revenue bonds of the
Issuer in an amount of approximately Eight Million Dollars
($8,000,000) under the Act for the acquisition, construction,
installation and equipping of the project and the sale or leasing
of the project to Applicant or the loaning of the proceeds of the
revenue bonds to the Applicant will serve the public purposes
referred to above, in accordance with the Act.
SECTION 3. In order to induce the Applicant to proceed with the
acquisition, construction, installation and equipping of the
Project, the Common Council hereby finds, approves, determines,
ratifies, and confirms that (i) it will take or cause to be taken
such actions pursuant to the Act as may be required to implement
the aforesaid financing, or as it may deem appropriate in
pursuance thereof; provided that all of the foregoing shall be
mutually acceptable to the Issuer and the Applicant; (ii) it will
adopt such ordinances and resolutions and authorize the execution