HomeMy WebLinkAboutCRC-03-2001 Parkwood EDARESOLUTION NO.3 - 2001
DECLARATORY RESOLUTION OF THE
CARMEL REDEVELOPMENT COMMISSION
WHEREAS, the City of Carmel ("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, "Act"); and
WHEREAS, 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 parts of the acquired areas that are to be devoted to public ways, levees,
sewerage, parks, playgrounds, and other public purposes under the Plan; and
(2) An estimate of the cost: of redevelopment and economic development; and
WHEREAS, the Commission has caused 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, THEREFORE; BE IT RESOLVED 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 Parkwood Economic
Development Area ("Area"), and which Area is described in Exhibit A.
(2) The Commission finds that the Plan for the Area:
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('A) Promotes sigmficant'opportunities for the?gainful employment of the citizens of the
City;
(B) Attracts major new business enterprises to`the.City;
(C) Benefits the public:healih, safety, morals and welfare of the citizens ofthe City;
(D) Increases the economic welhbeing of theTCity and:the State of Indiarta; and
(E) Serves to protect,and.increase,propertyvalues'in.the City andAhe State ofIndiana.
(3) The Commission finds thanhe P1an:cannot be:.achieved,by"regulatory°processes',or
by the ord€€nary.operation of private enterprise without-resort to the powers allowed the Commission
under IC 35-744 because;of:
(A) Therlack.oflocal public improvements;,
(B) Multiple ownership. of land; and,
(C) Other similar .conditions,, sptcificalty`. The cost of iiifrastructure improvements
needed to serve the Area prevents the improveinentsfrom beirig'accomplished by
private enterprise and-there`is no regulatory process-available to build infrastructure
or provide incentives. o-encourage economic growth..
(4) The Commission finds that the public,healih and welfare"will be.benefitted by the
accomplishment of the. Plan for the Area by the construction of infrastructure improvements
including road improvementsxo the west,9.6' Street and Spring" Mill,Road corridors and enhanced
utility service such as:extension to water and sewer mains The public health "and welfare may'also
be benefitied by-the development of first-class office buildings?,suitabie-for corporate headquarters,
and the potential creation of 1,500 to 2,000 newjob opportunities.
(5) The.Commissiornfinds that the accomplishment of theTlan wild be of public utility
and'benefit as measured by the atiraction,ofpermanentjobs; an increase in the property tax base and
improved diversity of the economic base:
(6) The-plan for the Area conforms to other development and redevelopment plans for
the City.
(7) The Commission does not now propose to acquire interestsdri real property within
the boundaries o(theArea. Ifthe Commission determines that it is necessaryto acquire real property
in the Area, it will amend the'Pian and'this Resolution prlot.toany;acquis_ition.
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(8) The Commission estimates, that the. cost of implementing the Plan is currently
estimated.fo be 57;000;000, however; the,firm costs will be determined atthe time of any"financings.
(9) The Commission finds that no.residents of the Area will be displaced,byany project'
resulting from ,[he.P.lam and, therefore,, the Commission 'finds that it does not `need'- to give
consideration to transitional and'perrtianent provisions,for adequate' housing for the residents.
(10) This paragraph shall be considered,the ailocation pro vi5 ion,for the pprpose-s of IC 36-
7-14-39. The entire Area shall constitute;an allocation area as defined in IC36-7-1:4-39 ("Allocation
Area"), Xdy 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 iri accordance with IC:36-7-14-39.or-any applicable successor
provision. This'allocation provision shall expire no later than 30,years after the effective date of this
resolution.
(11) 411 of the rights,:powers,,privileges, acid immunitiesthat may be exercised by the
Commission in aRedevelbpmentArea or Urban-Renewal Area maybe exercised by!the Commission
in-the Area, subject:€o the limitations in IC 36r7-:1,4-43.
(12) The presiding officer of the Commission is here by- authorized.artd,direcied to submit
this resolution, the Plan and the Factual Report to the. Carmel Clay Plan Comrnissi'on ("Plan
Commission") for,its approval.
(1 3)) The'Commission also directs the?presiding officer, after receipt of the wrirten order
of approval:of the'Plan Commissionwhich has been approved'by the Common Council to publish
notice of the:adoption and. substance,of'this resolution in'accordance with IC-5-3-1-4 and to file
notice with.the Plan Commission; theBoard•of LningAppeals, the Board of Public Works, the Park
Board, the building commissioner and any other departments or agencieslofthe:City copcemed with
unit planning, zoning variances, land use or the issuance ofbuilding 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 ithe: Commission will receive and hear
remcnstrances.and:objecticns from persons interested in or affected by the proceedings pertaining
to the proposed project and will determine theIpublic 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. -i7 D 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, inventoryassessed values, and
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(B), The-anticipated impact, on tax revenues of each 'taxing unit than is eitherwholly'or
partly located within the Allocation Area. A copy of this statement shall be filed
with each" such taxing unit with•a copy. of the notice required under Section I7'ofthe
Act at.least 10'days before the date of the hearing- described in Section 13 of this
resolution.
(15) The Commission further directs.the presiding officer-to submifthis resolution'to.the
Common Council for its,app oval of the establishment ofthe.Ared.
(1`6) This,Rescluiion shall be effective-as of its date of adoption.
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Adopted 1 '200L,
Secretary
?reynoer .,
ember
ATTEST:
Secretary
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G RMEL REDEVELOPMENT CONLNUSSION
FACTUAL: REPORT IN:SUPPORT
OF FINDINGS CONTAINED N
RESOLUTION' NO. 3-1001
OF THF,CaRMEL
REDEVUOPMENT COh[MISSION
1. The: Plan for the Parkwocd Economic Development, Area {'.'Area")will promote.
significant opportunities for the gainful.employment of citizens of'the City of Carmel ("City") by
bringing enhanced infrastructure to,the site to encourage economic development. Additional
opportunities maybe available ifthree 'first-classbffice 6uildingssuitable for corporate headquarters'
are constructed thereby creating:apprbxiniately 1,500 to 2,060 new job opportunities.
2. The Plan will' ,attractmajor new business,enterprises to the Cityby making the land
attractive:for development With the constfuction of road improvements' as;well' as water, and,sewer
niain.extensions in,,-serving"ot'benefitting;the Area. The Plan may also attract the construction of
three first-class office buildings suitable=for corporate headquarters consisting of approximately
192,000 square feet each and two parking plazas consisting of approximately 80,000square feeteach
witha total investment in the:A.rea of'approximately,$60 to'70 million. Iris anticipated that these
office buildings will attract ente.rp ises in the information technology, communications and.related
industry segments.
3. The planning; replanning, development, and redevelopment of the Area will.benefit
the public:health, safety, ?morals and.welfare; increase the economicwell-being of the City and:the
State of Indiana; and serve to protect and increase property values in the City and the State of
indianabythe construction ofinfrastructure improvements including road:improvements to the west
96" Street and Spring Mill Road corridors,and enhanced utility service such as extensions to water
and sewer mains.
4. The Plan 156r the Area cannot be,achieved by"regulatory processes or by'the ordinary
operation of private enterprise without:resort to IC;336-7-13 (the redevelopment, statute) because of
the lackaof local public improvements' and the lack of a regulatory process available to build'the
infrastructure ot.provide iticentives'to encourage.the economic; growth contemplated'in the Plan.
5. The accomplishment:of'the Plan for,the Area'viill be;of public' utility and benefit as
measured by (l)'the potential'for.job,apportunities with a site that hasthe required: infrastructure for
economic development or the attraction of an estimated 1,500 to 2,000 permanent jobs; (2) the
potential` investment of $60 to.S70 million; and (3) irnproved diversity of the economic base„by the
availability of: a development-ready site or constriictioh of office 4.spam both Which would
complemenfthe City„s attraction of Ether hi-tech companies.
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6. The Commission estimates that it will need to issue'bands or `enter into a. lease
'financing of approximately $7,000,000 to implement the Flan, however, the firm costs will be
deiermined.atithe time ofany financings.
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