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Home My WebLink AboutCC-12-19-05-02 MCP Partners Two/Tax Abatement/ERA cD -' \s~ ~ \ RESOLUTION CC-12-I9-0S-02 SPONSOR: Councilor Rattermann 200500083522 Filed far Retard"in HAMILTOH eOUHTY, I~DIAHA JEHHIFER J HAYDEN 12-28-2005 At 02:27 P~. MISe 15.00 RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA FOR DESIGNATION OF THE ATTACHED PROPERTY AS AN , ECONOMIC REVITALIZATION AREA WHEREAS, under Ie. 6-1.1-12.1-2.5 the Common Council of the City of Carmel, Indiana (the "Council") may designate an area as an Economic Revitalization Area ("ERA") and determine the duration of the abatement period( s) for such property; and, ',WHEREAS, MCP Partners Two, LLC will be the owner of the new office building; and . WHEREAS, MCP Partners Two, LLC, Walker Information, Inc. and Lauth Property Group, Inc., seek the Council to authorize a real property tax abatement in connection with the investment and job impact ("project"); and WHEREAS, the Council has reviewed MCP Partners Two, LLC Statement of Benefits (Form SB-1) and now desires to take actions hereinafter set forth. NOW, THEREFORE, based upon a review of the Form SB~l filed by MCP Partners Two, LLC, the Council hereby makes the following findings: FINDING 1. The site is suitable for designation as an ERA due to the following economic conditions: (a) Construction of a new office building to serve as Walker Information, Inc.'s international headquarters at this location will result in an addition to the area's overall assessed value. (b) Construction of a new office building to serve as office space for an expansion of Lauth Property Group, Inc. will result in an addition to the area's overall assessed value. (c) Construction of a new building with additional office space for other potential tenants will also serve in increasing the area's overall assessed value. (d) The project represents a superior use for the site. (e) The project is consistent with similar land uses on adjacent properties. FINDING 2. The estimate of the cost and assessed value of the proposed project is reasonable for projects of a similar nature. FINDING 3. The estimate of the number of individuals who will be employed can be reasonably expected to result from the proj ect. FINDING 4. The estimate of the annual salaries (i.e., average of approximately $66,000 per annum) of those individuals who will initially be employed can be reasonably expected to result from the project. i SPONSOR: Councilor Rattermann FINDING 5. The estimate of the cost and assessed value of the project is reasonable for a project of this type. F1NDING 6. The projected creation of approximately 69 FTEs over the next year can be reasonably expected. FINDING 7. The estimate of the annual salaries of approximately $72,000 per annum of those individuals who will be employed can be reasonably expected. FIND1NG 8. Other benefits can be reasonably expected to result from the project. FINDiNG 9. The totality of benefits is sufficient to justify real property tax deductions herein described. NOW, THEREFORE, BE IT RESOLVED THAT, a legal description of. the site has been attached hereto as Exhibit A. BE IT FURTHER RESOLVED THAT, the Site is hereby declared an ERA for purposes of granting real property tax abatement in support of the international corporate headquarters for Walker Information, Inc. and an expansion of Lauth Property Group, Inc. BE IT FURTHER RESOLVED THAT, the number ot'years for which MCP Partners Two, LLC is entitled to a deduction for real property taxes shall be two (2). BE IT FURTHER RESOLVED THAT, in the event that the real property is sold to a new owner, the new owner shall appear before the Carmel City Council within 90 days of closing on the purchase of the building to present information regarding the plans for the building in the City of Cannel. BE IT FURTHER RESOLVED THAT, if the Site is located in an allocation, area (as defined in I.C. 36-7-14-39 or I.C. 36-7-15.1-26), an application for the property tax deductions approved herein shall also be subject to the approval of the commission that designated the allocation area as required under I.C. 6-1 .l-12.1-4. BE IT FURTHER RESOLVED THAT, this Resolution shall be filed with the Hamilton County Assessor as required by I.C. 6-I .1-12.1-4. BE IT FINALLY RESOLVED THAT notice of the adoption of and the substance of' this Resolution shall be published in accordance with I.C. 5-3-1. ~ .~P~ Common Council of the City of Carmel, Indiana this ~ C[~day of 2005, by a vote of -7 ayes and C) nays. SPONSOR: Councilor Rattem~ann COMMQJq COUN.~_CIL FOR THE CITY OF CARMEL Prcs~.off,~,¢ ~/~ ../.- Ro,~d E. Ca~ ~~'~ 'ckJ. , r ~~ Mark~ff~Ra,-nnann · . ~:;;~s~Oriffiths ~ Richard L Sha~ Diana L. Cordray, IAMC, ~surer P~he Mayor of the City of Camlel, Indiana this )q'~ay of 2005, at ~;J3 ~.M. Diana L. Cordray, IAMC, Clerk-Treas~er Ap~or of the City of Carmel, Indiana, this ~ Q~day of 2005, at/_o i..~3 ~_.M. ATTEST: Diana L. Cordray, IAMC, Clerk-Trfffisurer Contact Information Diana Bilger on behalf of MCP Partners Two, LLC 317-681-7174 Land Description: TRACT 2 A part of that tract of land which was previously platted as pad of "College Park," the plat of which was recorded April 1, 1~20 in DEED RECORD 113, pages 2 and 3 in the Office of the Recorder of Hamilton County, Indiana, (part of said plat has been vacated by the Carmel Plan Commission per Docket No. 43-87-PV recorded September 22, 1987 as instrument #8743000 in said Recorder's Office) located in part of the Southeast Quarter of Section 11, Township 17 North, Range 3 East in Clay Township, Hamilton County, Indiana being bounded as follows: Commencing at the Northeast Corner of the Southeast Quarter of Section 11, Township 17 North, Range 3 East; THENCE South 00 degrees 12 minutes 36 seconds East (assumed bearing) 783.52 feet along the East Line of said Southeast Quarter; THENCE South 89 degrees 47 minutes 24 seconds West 43.00 feet to the western right-of-way line of College Avenue; THENCE South 00 degrees 12 minutes 36 seconds East 441.04 feet along the western right-of-way line of College Avenue to the northern right-of-way line of P465, the following two (2) courses are along the northern right-of-way line of P465 as per Project No. 1-465~4~(94)-130; 1) THENCE South 89 degrees 06 minutes 19 seconds West 139.50 feet; 2) THENCE North 86 degrees 32 minutes 18 seconds West 178.53 feet, the following five (5) courses are along the northern right-of-way line of 1-465 as per Project No. STI-465-4(BB); 1) THENCE North 86 degrees 01 minutes 33 seconds West 184.01 feet; 2) THENCE South 89 degrees 17 minutes 54 seconds West 200.00 feet; 3) THENCE South 85 degrees 17 minutes 39 seconds West 253.06 feet to the POINT OF BEGINNING; 4) THENCE South 85 degrees 17 minutes 39 seconds West 248.15 feet; 5) THENCE South 89 degrees 17 minutes 53 seconds West 359.08 feet; THENCE North O0 degrees 12 minutes 37 seconds West 26.98 feet; THENCE North 89 degrees 47 minutes 24 seconds East 230.00 feet; THENCE North 00 degrees 12 minutes 36 seconds West 62.00 feet; THENCE South 89 degrees 47 minutes 24 seconds West 9.00 feet; THENCE North 00 degrees 12 minutes 36 seconds West 62.00 feet; THENCE South 89 degrees 47 minutes 24 seconds West 54.00 feet; THENCE North 00 degrees 12 minutes 36 seconds West 67.00 feet; THENCE South 89 degrees 47 minutes 24 secbnds West 167.00 feet; THENCE North O0 degrees 12 minutes' 36 seconds West 126.72 feet to the point of curvature of a curve to the left having a radius of 74.00 feet, the radius point of which bears North 20 degrees 46 minutes 48 seconds West; THENCE Northeasterly, Northerly, and Northwesterly along said curve and arc length of 205.91 feet to a point which bears North 00 degrees 12 minutes 36 seconds West from said radius point; THENCE South 89 degrees 47 minutes 24 seconds West 131.33 feet; THENCE North 00 degrees 12 minutes 36 seconds West 142.71 feet to the point of curvature of a curve to the right having a radius of 121.00 feet, the radius point of which bears North 89 degrees 47 minutes 24 seconds East; THENCE Northeasterly along said curve an arc length of 66.62 feet to a point which bears North 58 degrees 39 minutes 55 seconds West from said radius point; THENCE North 31 degrees 20 minutes 05 seconds East 88.74 feet to a point on the southerly Right-of-Way line of Pennsylvania Parkway, the following three (3) courses being along said Southerly Right-of-Way line; 1) THENCE South 58 degrees 39 minutes 55 seconds East 105.04 feet to the point of curvature of a curve to the left having a radius of 322.50 feet, the radius point of which bears North 31 degrees 20 minutes 05 seconds East; 2) THENCE Southeasterly along said curve an arc length of 177.56 feet to a point which bears South 00 degrees 12 minutes 36 seconds East; 3) THENCE North 89 degrees 47 minutes 24 seconds East 328.02 feet; THENCE South 00 degrees 12 minutes 36 seconds East 84.11 feet; THENCE South 45 degrees 12 minutes 36 seconds East 55.00 feet; THENCE North 89 degrees 47 minutes 24 seconds East 74.34 feet; THENCE South 00 degrees 12 minutes 36 seconds East 521.48 feet to the POINT OF BEGINNING, Containing 8.82 acres, more or less. CITY ' 7 CARMEL JAaMES BRAiN.M~:D, MAYOI{ December 5, 2005 Mr. Taggart Birge Lauth Propcm'y Group 401 Pennsylvania Parlovay indianapolis, Indiana 46280 Mr. Mark Winzera:ead Walker Information 3939 Priority Way South Drive Indianapolis, Indiana 46240 Dear Tag and Mark: The City of Carmel is excited about the proposed expansions that Lauth and Walker are considering. The City wand to thank both Companies for their interest in creating and maintainlng jobs and cJcpandlng in Carmel. Based on the information that was provided by Lauth and Walker, in our meeting on November 18, 2005. regarding jobs and capital investments, the City of Carmel will do the following, subject to City Council and other required approvals: 1. Supper1 a two-year real property tax abatement on the prot~osed real property at 301 pennsylvania Parkway; and 2. Support a two.year personal property tax abatement on the qualifying personal property expenditm'es for Lautb and Walker that are placed in the new building; and 3, Support the follow4ng infrastructure improvements: Improve Pennsylvania Parkway from I03rd to 106th by changing it i'rom a two- lane to a three-lam: section witla a center mmi.,~g lane, curbs, and storm sewer; Install imarsecrion improvemenB at 103rd St. and Pennsylvania Parkway and po~ibt¥ at 1.06th and Pennsylvania Parkway; and Add sidewalks/paths along the South side of Pennsylvania Parlcx~,a¥. The estimate for the infrastructure improvements listed above is $1.5 - $2.0 million. During our meeting we discussed possibly using certain allocation areas (IfF districts) as potential funding for the infras~zuomre projects. We will need to discuss just how we should move forward and what the various options are for using TIF for the infrastructure improvements discussed above. o,u Civic squ^au, c^m,~u~,. IN 46032 Orrlcv: 317.571.2401, Fax 317.844.3498 EMAII. jbrainard@ei.carmel.in, us The City of Camac] looks forward to many years with Lauth Property Group and Walker Information as contributors in our community. Ve)'y truly yours, Carmel City Council Jeff Burr