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Home My WebLink AboutCC-11-02-09-01 Dealer Services Corp/Tax Abatement Sponsors Councilors Sharp, Carter and Snyder RESOLUTION NO CC- 11- 02 -09 -01 RESOLUTION "RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA DESIGNATING 1320 CITY CENTER DRIVE, SUITE 100 AS AN ECONOMIC REVITALIZATION AREA WHEREAS 1C 6 1 1 -12 1 4 authorizes partial abatement of personal property taxes attributable to the installation of new qualifying information technologyhelecommumcations equipment, computer hardware and computer softwaic and WHEREAS I C 6 1 1 12 1 2 5 empowers the Common Council ot the City ot Cannel Indiana (the `Council to designate an area as an Economic Revitalization Area ERA' determine the duration of the abatement period(s) foi such property and impose other reasonable conditions, and WHEREAS a Designation Application (as defined in I C 6 -1 1 -12 1 -1) has heretofore been filed with the Council by Dealer Services Corporation the Company and such Designation Application requests that the real estate located at 1320 City Center Drive Suite 100 Carmel Indiana and legally descnbed therein (the Site') be designated as an ERA and WHEREAS the Company will lease space for its expanded corporate headquarters facility provided that the Compan) is able to obtain personal property tax deductions as authorized b} IC 6 -1 1 12 1 -4 and WHEREAS the Company seeks to have the Council authonze personal property tax deductions in connection with the qualifying investment related to the installation of new information technology /telecommunications equipment, computer hardware and computer software in the Company s corporate headquarters facility at 1320 City Center Drive Suite 100 and WHEREAS the Council has reviewed such Designation Application together with the Compam s Statement of Benefits (Form S13 1) and now desires to take actions hereinafter set forth NOW, THEREFORE based upon a review ot the Designation Application and Statement of Benefits (Form SB 1) heretofore filed by the Company the Council hereby makes the following findings FINDING 1 The Site is or has become undesirable for normal development due to the following economic conditions (a) The Site and budding are coned for and general's suitable foi use as an office development however there is lack of demand for office space in the geographic area where the Site is located due to the economic conditions currently present (the Corridor') (b) Vacancy sates for office space in the Corridor and an abundance of sublease opportunities et idence an oversupply of office space in the Corndoi Sponsors Councilors Sharp, Carter, and Snyder (c) The Company s proposed redevelopment of a portion of the site as a corporate headquarters for the Company is consistent with the site s existing zoning and represents a superior use for a portion of the building (d) The Company s plans to install new personal property wi ll result in an addition to the Corridor s overall assessed value within an accelerated time period FINDING 2 The proposed redevelopment of the Sitetby the Company meets the parameters set Forth in Council Resolution No CC -02 -05 -01.02 FINDING 3 The estimate of the cost and assessed value of the Company s proposed re development of the Site is reasonable for projects of a similar nature 1 INDFNG 4 The estimate of the 138 individuals who will be employed (i e approximately 55 new FTEs over the initial five yeas period along with 83 existing FTEs) can be reasonably expected to result from the Company s proposed re development of the Site FINDING 5 I he estimate of appioxunately $7 564 336 of annual salaries (for the 138 new and existing FT Es) for those individuals who will be employed by the Company can be reasonably expected to fsult fiom the Company's proposed re development of the Site FINDING 6 'I he estimate of the cost and assessed value of the new intormation technology /telecommunications equipment computer hardware and computer software is reasonable for equipment of that type FINDING 7 With respect to the new information technology /telecommunications equipment computer hardware, and computer software the estimate of 138 FTEs will be employed can be reasonably expected to result from the redevelopment of the Site and installation of the new personal property FINDING 8 The estimate of approximately $7,564 336 of annual salaries (for the 138 new and existing FTEs) for those individuals who will be employed can be seasonably expected to result from the redevelopment of the Site and installation of the new personal property FINDING 9 Other benefits can be reasonably expected to result from the Company s proposed re- development of the site and installation of the new personal property FINDING 10 The totality of benefits is sufficient to justify personal property tax deductions herein descnbed Sponsors Councilors Sharp Carter, and Snider NOW, THEREFORE, BE IT RESOLVED THAT, a legal description of the previously declared ERA has been attached hereto as f xhibtt A BE I F FURTHER RESOLVED THAT the Site is hereby declared an ERA for purposes of granting personal property tax abatement in support of the corporate headquarters facility project and the installation of new information technology /telecommunications equipment computer hardware and computer software BE IT FURTHER RESOLVED THAT the number of years for which the Company is entitled to a deduction for investments made in the new information technology/ telecommunications equipment, computer hardware, and computer software pursuant to 1 C 6 1 1 -12 1-4 shall be ten (10) BE IT FURTHER RESOLVED THAT the Council shall have the right to reduce the length of and/or end the economic revitalization area designation period granted for the Site should the Company and /or a subsequent owner of the Company not fulfill commitments made to the City of Carmel regarding the amount of capital investment lob creation/retention and average annual salary levels BE IT FURTHER RESOLVED THAT in the event the Company is sold to a new owner the new owner of the company shall appear before the Council within 90 days of closing on the purchase of the Company to present information regarding the plans for the Company s operations in the City of Carmel BE IT FURTHER RESOLVED 1 HAT the deductions authorized herein are contingent upon the designation 01 the ERA pnoi to the installation 'of new information technology/telecommunications equipment computer hardware and computer software BE IT FURTHER RESOLVED THAT if the Site is located in an allocation area (as defined in I C 36 7 14 39 or 1 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 1 C 6 -1 1 12 1 4 BE IT FURTHER RESOLVED THAT this Resolution shall be filed with the Hainilton County Assessor as required by I C 6 1 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 and that such notice shall be in the form attached hereto and incorporated helm as Exhibit B rO Adopted by the Common Council of the City of Carmel Indiana thrsa day of NI fir" "i 2009 by a vote of z ayes and 0 nays Sponsors Councilors Sharp Carter, and Snyder COMMON COUNCIL OT THE CITY OF t 1 stdmg Officer o C a te= W E Se en icker or mpore Kevin Ridgy 41 1/ AP II cetturo Richard L Sharp Ronald E Carter nyder AT'fE Diana L Cordray IAMC Clcr asurer Presented by me to the Ma) or of the City of Carm Indiana this ot day of N ektestack 2009 at S 35' _e_ Diana L Cordray, IAMC Approved by me Mayor of the City of Carmel In a thts6. day of er_`g1 2009 at f m es Brainard Mavor ATTEST /I c Diana L Cordray IAMC, Clerk 4 asurer Prepared by Chad Sweeney Ginovus 8888rKeystone Crossing Suite 1450 Indianapolis Indiana 46240 317/819 4415 (telephone) 317/844 4780 (facsimile) Chad ®ginovus com (e mail) Sponsors Councilors Sharp Carter, and Snyder EXHIBIT A A LAND BOUNDARY DESCRIPTION OF THE BUILDING AT 1320 CITY CENTER DRIVF, SUITE 100, CARME L, INDIAN 146032 HAMILTON COUNTY, INDIANA DATE PAGE 1 OF 1 LAND DESCRIPTION Part of the Northeast Quarter of Section 35 Township 18 North Range 3 East of the Second Principal Merzdian in Familton County, Indiana being more particularly described as follows Commencing at a railroad spike marking the Southwest Corner of the said Northeast Quarter Section thence North 00 degrees 07 minutes 31 seconds West (assumed bearing) along the West line of the said Quarter Section a distance of 510 08 feet to a P K nail, thence continuing along said line North 00 degrees 07 minutes 31 seconds West 62 58 leet thence North 89 degrees 52 minutes 29 seconds East 28 99 feet to the eastern right of way Tine of Pennsylvania Street recorded as Instrument #200300029019 in the Office of the Recorder of Hamilton County Indiana said point being the POINT OF BEGINNING of this descnption thence North 00 degrees 07 nunutes 30 seconds West 475 63 teet along said eastern right of way line of Pennsylvania Street thence North 89 degrees 52 minutes 28 seconds East 59 55 feet to a point of curve concave southerly having a radius of 236 62 feet the radius point of said curve bears South 00 degrees 07 minutes 32 seconds East, thence easterly along said curve 77 24 feet to a point which bears North 18 degrees 34 minutes 36 seconds East from said radius point said point being the point of reverse curve of a curve concave northerly having a radius of 328 19 feet the radius point of said curve beats North 18 degrees 34 nunutes 38 seconds East thence easterly along said curve 109 83 feet to a point which bears South 00 degrees 35 minutes 50 seconds East from said radius point thence South 00 degrees 07 minutes 31 seconds East 46 00 feet to the point of curve of a non tangent curve concave northerly having a radius of 374 20 feet the radius point of said curve bears North 00 degrees 32 minutes 21 seconds West, thence easterly along said curve 150 71 feet to a point which bears South 23 degrees 36 minutes 53 seconds East from said i adius point, said point being the point of reverse curve concave southerly having a radius of 520 30 feet the radius point of said curve bears South 23 degrees 36 minutes 53 seconds East, thence easterly along said curve 252 26 feet to a point which bears North 04 degrees 09 minutes 52 seconds East from said radius point thence North 00 degrees 18 minutes 41 seconds West 156 45 feet thence North 89 degrees 41 minutes 19 seconds East 217 35 feet thence South 00 degrees 18 minutes 41 seconds East 192 63 ,feet to the point of curve of a non tangent curve concave easterly having a radius of 819 43 feet the radius point of said curve bears North 88 degrees 55 minutes 28 seconds East thence southerly along said curve 235 06 feet to a point which bears South 72 degrees 29 minutes 19 seconds West from said radius point said point being the point of non tangent curve concave westerly having a radius of 580 64 feet the radius point bears South 72 degrees 29 minutes 30 seconds West thence southerly along said tune 174 50 feet to a point which bears North 89 degrees 42 minutes 40 seconds East from said radius point thence South 00 degrees 13 minutes 17 seconds East 47 10 feet, thence South 88 degrees 49 minutes 16 seconds West 886 36 feet thence North 44 degrees 34 minutes 41 seconds West 41 29 feet thence South 89 degrees 52 minutes 29 seconds West 2 37 feet to the POINT OF BEGINNING, containing 10 501 acres more or less Sponsors Councilorc Sharp, Carter, and Snyder EXHIBIT B NOT ICE OF ADOPTION REGARDING THE APPROVAL OF A TEN -YEAR PERSONAL PROPERTY TAX ABATEMENT FOR DEALER SERVICES CORPORATION'S CORPORA FE HEADQUARTERS LOCATED AT 1320 CITY CENTER DRIVE, SUITE 100 DATE PAGE 1 OF l Notice is hereby given that the Common Council of the City of Carmel Indiana did on the 2" of November 2009 adopt a Resolution approving a ten year personal property tax abatement foi Dealer Services Corporation for its investment in expanding its corporate headquarters facility located at 1320 City Center Drive Suite 100 This Resolution which affects the following described pioperty located in the City of Carmel Indiana 1320 City Center Dnve, Suite 100, Clay Township, was adopted following the fiiling,of information by Dealer Services Corporation and the previous approval of the designation of property located at 1320 City Center Drive Suttc 100 as an Economic Revitalization Area for the purpose of secunng an abatement of property taxes pursuant to Indiana Code Section 6 1 1 12 1 -4 relative to the installanon of new qualifying research and developnienUmformation technology /computer hardware and software oricnted equipment Such Resolution previously approving such property as an Economic Revitalization Area and such Resolution approving a ten-sear pei sonal property tax abatement for Dealer Services Corporation were provided by the Common Council of the City of Carmel Indiana on the 2" of November, 2009 Furthermore the Resolution states that on the 16 of November 2009 „at 6 p m in the Council Chamber Room located at One Civic. Square Cannel Indiana 46032 the Common Council met to hear public comment from persons interested in these proceedings and make a determination about approving a ten year personal property tax abatement for Dealer Services Corporation for its investment in new qualifying iesearch,and development /information technology/computer hardware and software -oriented equipment A description of information related to Dealer Services Corporation s project and a copy of such Resolution are available for inspection in the I lamilton County Assessor s Office Suite 214 33 North 9` Street Noblesville, lndiana'46060 A r r^ 7 0 e o 0C 70 000 QC CITY OCARMEL JAMES BRAWARD MAYOR July 2 2009 Mr Many McFarland CFO Dealer Services Corporation 1320 City Center Dnve Suite 100 Carmel 114 46032 Dear Mr McFarland The City of Carmel is most pleased to have the opportunity to work with Ginovus m support of Dealer Service, Corporation s proposed expansion project m our community We have enjoyed working with your company and Gmovus to identify the most meaamgfiil ways we can assist with your proposed project I have enjoyed following Dealer Services Corporation s successes smce the company Located its corporate headquarters in Carmel four years ago It is ow understanding that Dealer Sernces Corporation is contemplatmg a capital mveslment of approximately S3 5 million, the retention of 83 aistmg positrons the =anon of approximately 30 new jobs and an average amual salary level of approximately S55 000 00 m the City of Carmel by December 31 2013 In support of the proposed expansion of your company's corporate headquarters facilities m our community the City of Carmel makes the following commitments m support of the project 1 The City of Cannel will provide a ten -year personal property tax abatement in support of the company s mvesenent'm new mformatmn technology and telecommunications equipment in the company's atreung leased buildmg and, 2 The City of Carnal will provide support for and participate in the development of a press release regarding Dealer Services Corporation s proposed expansion project, if a decision is made to expand the company's presence m our community Please note that final approval for property tax abatement is required from the Cannel City Council for the proposed expansion project. The City of Cannel will provide you and Gmovus with all necessary techmeal assistance throughout the property tax abatement approval process The City of Carmel greatly appreciates the opponumty to work with Dealer Services Corporation and Ginovus on another project We are very pleased that your company is considering another project in the City of Carmel. Thank you for yournxnisidetation. V truly yours, gt Wl- Srammd cc Members of the Carmel City Council Diana Cordray Clerk Treasurer Larry Clench, Managing Director, Gmovus Olt f n ic SQUARF C taattt IN 46032 0E1 IL ,17 571 2101 L'nt -117 441 5498 Fusin Ihrain.irdr.Atannel m brn