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HomeMy WebLinkAboutResolution 2021-27 (Monon Square North declaratory)RESOLUTION NO.2021-27 RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION AMENDING THE DECLARATORY RESOLUTION AND THE REDEVELOPMENT 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 (i) to remove parcel number 16-09-25-04-04-014.000 from the Carmel City Center Amendment Allocation Area, (ii) to designate the area described on Exhibit A attached hereto as an allocation area pursuant to Section 39 of the Act to be known as the Monon Square North Allocation Area (the "Monon Square North Allocation Area"), and (iii) to adopt a supplement to the Plan attached hereto as Exhibit B (the "2021 Plan Supplement") (clauses (i), (ii) and (iii), collectively, the "2021 Amendments"); and WHEREAS, the 2021 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 the 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, 167 17 and 39 of the Act to the 2021 Amendments; and WHEREAS, the Commission now desires to approve the 2021 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, is "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 2021 Plan Supplement for the Redevelopment 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. 3. The Commission finds that the public health and welfare will by benefited by the 2021 Amendments. 4. It will be of public utility and benefit to amend the Declaratory Resolution and the Plan for the Redevelopment Area, as provided in the 2021 Amendments and to continue to develop the Redevelopment Area, including the Motion Square North Allocation Area under the Act. 5. The accomplishment of the 2021 Plan Supplement, including as applied to the Motion Square North Allocation 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 Commission finds that this Resolution and the 2021 Amendments are reasonable and appropriate when considered in relation to the Declaratory Resolution, the Plan and the purposes of the Act. 7. The Declaratory Resolution and the Plan, as amended by this Resolution, and the 2021 Plan Supplement, conform to the comprehensive plan of development for the City of Carmel, Indiana (the "City"). 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 2021 Plan Supplement. 10. The Commission does not at this time propose to acquire any specific parcel of land or interests in land within the boundaries of the Monon Square North Allocation 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 2021 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 will be displaced by any project resulting from the 2021 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 2021 Amendments are hereby in all respects approved. 13. Parcel number 16-09-25-04-04-014.000 (the "Removed Parcel") is hereby removed from the Carmel City Center Amendment Allocation Area. The area described in Exhibit A, including the Removed Parcel, is hereby designated as an "allocation area" pursuant to Section 39 of the Act to be known as the "Monon Square North 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 Monon Square North Allocation Area hereby designated as the "Monon Square North 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. 14. The foregoing allocation provision shall apply to all of the Monon Square North Allocation Area. The Commission hereby finds that the adoption of this allocation provision will result in new property taxes in the Monon Square North 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 hereto. The base assessment date for the Monon Square North Allocation Area is January 1, 2021. 15. 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 Monon Square North 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 Monon Square North Allocation Area. 16. 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. 17. 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. 18. The provisions of this Resolution shall be subject in all respects to the Act and any amendments thereto. Adopted the 15th day of December, 2021. CITY OF CARMEL REDEVELOPMENT WGIOVATUVIMMM idenf r ViPresident 1ce Sec etuy ber Member EXHIBIT A Description of the Monon Square North Allocation Area The Monon Square North Allocation Area consists of the following parcels, and is shown on the map attached hereto: PARCEL ID NUMBERS: 16-09-25-00-00-014.001 16-09-25-00-00-014.002 16-09-25-00-00-014.003 16-09-25-04-04-014.000 November 3n,-, 2021 1:1,44 PaI- eIs 0. D.04 0 07 E:rcj EXHIBIT B 2021 Plan Supplement The Plan is hereby supplemented by adding the following projects to the Plan: All or any portion of the design and construction of a mixed used project consisting of multi- family units, office, retail, structured parking and related infrastructure improvements, in or directly serving and benefiting the Monon Square North Allocation Area. The estimated cost of these improvements is at least $5,000,000. Based on representations of the developer of the mixed use project, the Commission has determined that the development of the Monon Square North Allocation Area will not proceed as planned without the contribution of tax increment revenues to be derived from the Monon Square North Allocation Area to the projects described above, either directly or through the issuance of tax increment revenue bonds. DMS VSCHILB 212631590