HomeMy WebLinkAboutCRC-11-1997 CRC/CRA LeaseRESOLUTION NO. _?)- 199 7
RESOLUTION OF THE CITY OF CARMEL
REDEVELOPMENT COMMISSION APPROVING A PROPOSED
LEASE BETWEEN THE CITY OF CARMEL REDEVELOPMENT
AUTHORITY AND THE CITY OF CARMEL REDEVELOPMENT COMMISSION,
SETTING A PUBLIC HEARING ON THE PROPOSED LEASE PURSUANT
TO I.C. 36-7-14-25.2 AND AUTHORIZING PUBLICATION OF
NOTICE OF THE PUBLIC HEARING
WHEREAS, the City of Carmel Redevelopment Authority (the "Authority") has adopted a
resolution indicating its intent to issue its City of Carmel Redevelopment Authority County Option
Income Tax Lease Rental Revenue Bonds of 1997 (the "Bonds") for purposes of financing the
development of the Plum Creek/Hazeldell Parkway Economic Development Area, the 96th
Street/Hazeldeli Parkway Economic Development Area, the Pennsylvania Street North Economic
Development Area, the Pennsylvania Street South Economic Development Area, the Old Town
Economic Development Area, and the 126th Street Corridor Economic Development Area
(collectively, the "Economic Development Areas"), each of which has been established by the City
of Carmel Redevelopment Commission (the "Commission"), including without limitation the
construction of certain projects and improvements described in the economic development plans for
the Economic Development Areas, which are located in or directly serve or benefit the Economic
Development Areas (the "Projects"); and
WHEREAS, the Authority has adopted a resolution approving a proposed Lease Agreement
with the Commission in the form presented at.this meeting (the "Lease") for the purpose of paying
the principal and interest on the Bonds issued pursuant to IC 36-7-14.5 to finance the construction
of the Projects; and
WHEREAS, the Authority has filed the proposed Lease with the Commission, a copy of
which has been presented at this meeting; and
WHEREAS, the Commission desires to approve the proposed Lease and publish notice of
a public hearing and conduct a public hearing on the proposed Lease pursuant to IC 36-7-I4-25.2;
and
WHEREAS, after the public hearing the Commission may adopt a resolution pursuant to IC
36-7-14-25.2. authorizing the execution of the proposed Lease on behalf of City of Carmel if it finds
that the service to be provided throughout the term of the proposed Lease will serve the public
purpose of City of Carmel and is in the best interests of its residents, and that the Lease rentals
provided for are fair and reasonable.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF CARMEL
REDEVELOPMENT COMMSSION AS FOLLOWS:
1. The Commission hereby approves the proposed Lease between the Authority and the
Commission in the form presented at this meeting.
2. The Commission hereby sets the public hearing on the Lease for July 7, 1997, at 5:00
p.m., at the Carmel City Hall, One Civic Square, Carmel, Indiana.
3. The Commission hereby authorizes the publication of a notice of the public hearing
on the Lease pursuant to IC 5-3-1.
4. This resolution shall be in the full force and effect after adoption by the Conunission.
ADOPTED the 16th day of June, 1997.
CITY OF CARMEL REDEVELOPMENT
COMMISSION
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