HomeMy WebLinkAboutCC-05-16-11-01 Flywheel Healthcare, LLC/Young at Heart 10 Year PP ERA Tax AbatementSponsors: Councilors Carter, Rider, Sharp and Snyder
RESOLUTION NO. CC: 05- 16 -11 -01
A DECLARATORY RESOLUTION "RESOLUTION OF THE COMMON COUNCIL
OF THE CITY OF CARMEL, INDIANA
DESIGNATING
101 WEST 103 STREET, CARMEL, INDIANA 46290
AS AN ECONOMIC REVITALIZATION AREA
WHEREAS, I.C. 6- 1.1- 12.1 -4.5 authorizes partial abatement of personal property taxes
attributable to the installation of qualifying new manufacturing equipment, new research and
development equipment, new logistical distribution equipment, or new information technology
equipment "Qualified Equipment and
WHEREAS, I.C. 6 -1.1- 12.1 -2.5 empowers the Common Council of the City of Carmel,
Indiana (the "Council to designate an area as an Economic Revitalization Area "ERA
determine the duration of the abatement period(s) for such property and impose other reasonable
conditions; and.
WHEREAS, a Designation Application (as defined in LC. 6- 1.1- 12.1 -1) has heretofore
been filed with the Council by Flywheel Healthcare, LLC, d/b /a Young at Heart "the
Company and such Designation Application requests that the real estate located at 101 W.
103rd Street, Carmel, Indiana and legally described therein (the "Site be designated as an ERA;
and
WHEREAS, the Company will occupy this location for its corporate headquarters
operations, provided that the Company is able to obtain personal property tax deductions as
authorized by I.C. 6- 1.1- 12.1 -4.5; and
WHEREAS, the Company seeks to have the Council authorize personal property tax
deductions in connection with the qualifying investment related to the installation of new
Qualified Equipment at the Site; and
WHEREAS, the Council has reviewed such Designation Application together with the
Company's Statement of Benefits (Form SB -1) and now desires to take actions hereinafter set
forth.
NOW, THEREFORE, based upon a review of 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 building are zoned for and generally suitable for use
as an office development; however, there is lack of demand for
office space in the geographic area where the Site is located (the
"Corridor due to the present economic conditions.
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FINDING 3.
FINDING 4.
FINDING 5.
FINDING 6.
FINDING 7.
Sponsors: Councilors Carter, Rider, Sharp and Snyder
(b) Vacancy rates for office space in the Corridor and an abundance of
sublease opportunities evidence an oversupply of office space in
the Corridor.
FINDING 2. The Company's proposed use of the site as a corporate headquarters is
consistent with the Site's existing zoning and represents an appropriate use
for the building.
The Company's installation of new personal property will result in
an increase to the Corridor's overall assessed value.
The proposed improvements at the Site by the Company meet the
parameters set forth in Council Resolution No. CC- 02- 05- 01 -02.
The estimate of the cost and assessed value of the Company's proposed
improvements at the Site is reasonable for projects of a similar nature.
The estimate of the number of individuals who will be employed (i.e.,
approximately 106 new FTE's) can be reasonably expected to result from
the Company's proposed expansion at the Site.
The estimate of the annual salaries (i.e., average of approximately $50,000
per annum) for those individuals who will be employed by the Company
can be reasonably expected to result from the Company's proposed
expansion at the Site.
FINDING 8. The estimate of the cost and assessed value of the new Qualified.
Equipment is reasonable for equipment of that type.
FINDING 9. The Company will continue to be an active corporate citizen.
FINDING 10. The Company's corporate headquarters in Carmel is consistent with the
goals and vision established by the City of Carmel and the Hamilton
County Alliance.
FINDING 11. Other benefits can be reasonably expected to result from the Company's
proposed expansion at the Site and installation of the new personal
property.
FINDING 12. The totality of benefits is sufficient to justify personal property tax
deductions herein described.
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Sponsors: Councilors Carter, Rider, Sharp and Snyder
NOW, THEREFORE, BE IT RESOLVED THAT, a legal description of the Site has
been attached hereto as Exhibit A.
BE IT FURTHER RESOLVED THAT, in accordance with I.C. 6 -L1- 12.1 -2.5, the Site
is hereby designated as an ERA for purposes of granting personal property tax abatement in
support of the retention of the corporate headquarters and the installation of new Qualified
Equipment.
BE IT FURTHER RESOLVED THAT, on May 16, 2011, the Council shall hold a
public hearing to receive all remonstrances and objections from interested persons, after which
the Council shall take final action confirming, modifying or rescinding this resolution along with
the findings and declarations contained herein.
BE IT FURTHER RESOLVED THAT, the number of years for which the Company is
entitled to a deduction for investments made in the new Qualified Equipment pursuant to I.C. 6-
1.1- 12.1 -4.5 shall be ten (10).
BE IT FURTHER RESOLVED THAT, the Council shall have the right to reduce the
length of and/or end the ERA 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, job 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 THAT, the deductions authorized herein are
contingent upon the designation and confirmation of the ERA prior to the installation of new
Qualified Equipment.
BE IT FURTHER RESOLVED THAT, if the Site is located in an allocation area (as
defined in 1.C. 36- 7 -14 -39 or I.C. 36 -7- 15.1 -26), the Statement of Benefits contained in the
Designation Application for the property tax deductions approved herein shall be deemed
approved by the Council as the legislative body (as defined in I.C. 36- 1 -2 -9) of the unit that
approved the designation of the allocation area (as required under I.C. 6 -1.1- 12.1 -2).
BE IT FURTHER RESOLVED THAT, this Resolution shall be filed with the
Hamilton County Assessor as required by I.C. 6 -1.1- 12.1 -2.5.
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 herein as Exhibit B.
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Sponsors: Councilors Carter, Rider, Sharp and Snyder
Adopted by the Common Council of the City of Carmel, Indiana this 1L day ofne
2011, by a vote of (p ayes and t nays.
Presiding 0
W. Eric Seid
Richard
ATTEST:
COMMON COU
esidenl!
idt
harp, arliamentarian
Diana L. Cordray, Clerk -Treas
adi
ATTEST:
Diana L. Cordray, Clerk- Treasiy
Prepared by: Leslie Wagner, Director of Project Management and Development
Ginovus
8888 Keystone Crossing, Suite 1450
Indianapolis, Indiana 46240
317/819-4412 (telephone)
317/844 -4780 (facsimile)
Leslie@ginovus.com (e -mail)
IL OF THE CITY OF
onald E. Carter
4,6
N 8T P k eSE N-
John V. Accetturo
Presented by me to the Mayor of the City of Carmel, Indiana, the 11 }h day of
2011, at a: lt) P .m.
Diana L. Cordray, Clerk- Treasure
Approved by me, the Mayor of the City of Carmel, Indiana this day of
2011, at 1v. 01 .m.
/ernes Brainard, Mayor
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Parcel I
Sponsors: Councilors Carter, Rider, Sharp and Snyder
EXHIBIT A
A LAND BOUNDARY DESCRIPTION OF THE BUILDING AT
101 WEST 103 STREET, CARMEL, INDIANA 46290
HAMILTON COUNTY, INDIANA.
LAND DESCRIPTION- R &D PREMISES
Part of the West Half of Section 11, Township 17 North, Range 3 East in Hamilton County,
Indiana, being more particularly described as follows:
Commencing at the Northwest corner of the Northwest Quarter of said. Section 11, Township 17
North, Range 3 East; thence North 89 degrees 12 minutes 45 seconds East (Assumed Bearing)
along the North line of said Northwest Quarter a distance of 1703.15 feet; thence South 00
degrees 47 minutes 15 seconds East a distance of [6.50 .feet to the Southwesterly right -of -way
line of U.S. #31 a per plans for I.S.H.C. Project No. St F -222 (9) dated' 1973; thence South 78
degrees 38 minutes 19 seconds East, along said right -of -way line a distance of 218.74 feet to a
curve having a radius of 22773.31 feet, the radius point of which bears North 89 degrees 48
minutes 13 seconds West; thence Southerly along said curve and West right- of-way line of U.S.
#31 a distance of 771.69 .feet to a point which bears South 87 degrees 51 minutes 40 seconds
East from said radius point; thence South 02 degrees 08 minutes 20 seconds West along. said
right -of -way line a distance of 656.61 feet to a curve having a radius of 23063.31 feet, the radius
point of which bears South 87 degrees 51 minutes 40 seconds East; thence Southerly along said
curve and West right-of-way line a distance of 491.51 feet to the North line of a tract of land
conveyed to the Pilgrim Lutheran Church of Indianapolis, Incorporated, recorded April 15, 1976,
per Corporate Warranty deed in Deed Book 287, pages 832 and 833, in the Office of the
Recorder of Hamilton County, Indiana, (said point being North 89 degrees 04 minutes 56
seconds West from said radius point); thence South 89 degrees 06 minutes 10 seconds West
along the said North line a distance of 612.98 feet; thence South 00 degrees 08 minutes 07
seconds West a distance of 300.47 feet; thence South 89 degrees 06 minutes 10 seconds West a
distance of 45.81 feet to the Beginning point; thence South 02 degrees 29 minutes 47 seconds
East a distance of 99.79 feet to a curve having a radius of 815.00 feet, the radius point of which
bears south 87 degrees 30 minutes 13 seconds West; thence southerly along the are of said curve
a distance of 172.66 feet to the point of reverse curvature of a curve having a radius of 1085.00
feet, the radius point of which bears South 80 degrees 21 minutes 28 seconds East thence
Southerly along the arc of said curve a distance of 179.98 feet to a point which bears North 89
degrees 51 minutes 25 seconds West from said radius point; thence South 00 degrees 08 minutes
35 seconds West a distance of 132.88 feet to a curve having a radius of 135.00 feet, the radius
point of which bears North 89 degrees 51 minutes 25 seconds West; thence Southwesterly along
the arc of said curve a distance of 211.71 feet to a point which bears South 00 degrees 00
minutes 00 seconds West from said radius point; thence North 90 degrees 00 minutes 00 seconds
West a distance of 313.18 feet to a curve having a radius of 300.00 feet, the radius point of which
bears North 00 degrees 00 minutes 00 seconds West; thence Westerly along the arc of said curve
a distance of 119.05 feet to a point which bears South 22 degrees 44 minutes 15 seconds West
from said radius point; thence North 67 degrees 15 minutes 45 seconds West a distance of 26.05
feet to a curve having a radius of 40.00 feet, the radius point of which bears North 22 degrees 44
minutes 15 seconds East; thence Northwesterly along the arc of said surve a distance of 59.74
feet to the point of reverse curvature of a curve having a radius of 715.00 feet, the radius point of
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Parcel II
Sponsors: Councilors Carter, Rider, Sharp and Snyder
which bears North 71 degrees 41 nnintues 19 seconds West; thence Northerly along the arc of
said curve a distance of 228.51 feet to a point which bears North 90 degrees 00 minutes 00
seconds East from said radius point; thence North 00 degrees 00 minutes 00 seconds East a
distance of 130.55 feet to a curve h.aving a radius of 485.00 feet, the radius point of which bears
North 90 degrees 00 minutes 00 seconds East; thence Northeasterly along the are of said curve a
distance of 422.68 feet to a point which bears North 40 degrees 03 minutes 58 seconds West
from said radius point; thence North 49 degrees 56 minutes 02 seconds East a distance of 125.79
feet to a curve having a radius of 40.00 feet, the radius point of which bears South 40 degrees 03
minutes 58 seconds East; thence Easterly along the arc of said curve a distance of 55.05 feet to
the point of reverse curvature of a curve having a radius of 165.00 feet, the radius point of which
bears North 38 degrees 47 minutes 13 seconds East, thence Easterly along the arc of said curve a
distance of 195.77 feet to the point of reverse curvature of 'a curve having a radius of 40.00 feet,
the radius point of which bears South 29 degrees 11 minutes 31 seconds East, thence Easterly
along the arc of said curve a distance of 63.94 feet to the point of compound curvature of a curve
having a radius of 335.00 feet, the radius point of which bears South. 62 degrees 23 minutes 28
seconds West; thence Southeasterly along the arc of said curve a distance of 146.83 feet to a
point which bears North 87 degrees 30 minutes 13 seconds East from said radius point and the
Beginning Point.
Part of the West half of Section 11, Township 17 North, Range 3 East in Hamilton County,
Indiana being more particularly described as follows:
Commencing at the Northwest conger of the Northwest Quarter of Section 11, Township 17
North, Range 3 East; thence North 89 degrees 12 minutes 45 seconds :East (assumed bearing)
along the North line of said Northwest Quarter a distance of 1703.15 feet; thence south 00
degrees 47 minutes 15 seconds East a distance of 16,50 feet to the Southwesterly right -of -way
line of U.S. 1131 as per plans for I.S.H.C. Project No. ST F- 222(9) dated 1973; thence South 78
degrees 38 minutes 19 seconds ,East along, said right-of-way line a distance of 218.74 feet to the
west right of way line of U.S. #31 on a curve having a radius of 22773.31 feet, the radius point of
which bears North 89 degrees 48 minutes 13 seconds West; thence Southerly along said curve
and West right-of-way line of U.S. #31 an arc distance of 771.69 feet to a point which bears
South 87 degrees •51 minutes 40 seconds East from said radius point; thence South 02 degrees 08
minutes 20 seconds West along said right -of -way line a distance of 656.61 feet to a curve having
a radius of 23063.31 feet, the radius point of which bears South 87 degrees 51 minutes 40
seconds East; thence Southerly along said curve and West right -of -way line an arc distance of
491.51 feet to a point which bears North 89 degrees 04 minutes 56 seconds West from said
radius point, thence South 89 degrees 06 minutes 10 seconds West parallel with the South line of
said Northwest Quarter Section a distance of 612.98 feet; thence South 00 degrees 08 minutes 07
seconds West a distance of 29.85 feet to the Beginning Point; thence continuing South 00
degrees 08 minutes 07 seconds West a distance of 3.16.20 feet; thence North 89 degrees 06
minutes 10 seconds East parallel with the South line of said Northwest Quarter Section a distance
of 53.40 feet; thence South 00 degrees 09 minutes 10 seconds West a distance of 330.05 feet;
thence South 89 degrees 06 minutes 10 seconds West parallel with the South line of said
Northwest Quarter Section a distance of 88.30 feet to a point on a curve having a radius of
1055.00 feet the radius point of which bears South 85 degrees 45 minutes 37 seconds East;
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Sponsors: Councilors Carter, Rider, Sharp and Snyder
which bears North 71 degrees 41 rnintues 19 seconds West; thence Northerly along the arc of
said curve a distance of 228.51 feet to a point which bears North 90 degrees 00 minutes 00
seconds East from said radius point; thence North 00 degrees 00 minutes 00 seconds East a
distance of 130.55 feet to a curve having a radius of 485.00 feet, the radius point of which bears
North 90 degrees 00 minutes 00 seconds East; thence Northeasterly along the arc of said curve a
distance of 422.68 feet to a point which bears North 40 degrees 03 minutes 58 seconds West
from said radius point; thence North 49 degrees 56 minutes 02 seconds East a distance of 125.79
feet to a curve having a radius of 40.00 feet, the radius point of which hears South 40 degrees 03
minutes 58 seconds East; thence Easterly along the arc of said curve a distance of 55.05 .feet to
the point of reverse curvature of a curve having a radius of 165.00 feet, the radius point of which
bears North 38 degrees 47 minutes 13 seconds East, thence Easterly along the arc of said curve a
distance of 195.77 feet to the point of reverse curvature of a curve having a radius of 40.00 feet,
the radius point of which bears South 29 degrees 11 minutes 31 seconds East, thence Easterly
along the are of said curve a distance of 63.94 feet to the point of compound curvature of a curve
having a radius of 335.0() feet, the radius point of which bears South 62' degrees 23 minutes 28
seconds West; thence Southeasterly along the are of said curve a distance of 146.83 feet to a
point which bears North 87 degrees 30 minutes 13 seconds East from said radius point and the
Beginning Point.
Parcel II
Part of the West half of Section 11, Township 17 North, Range 3 East in Hamilton County,
Indiana being more particularly described as follows:
Commencing at the Northwest corner of the Northwest Quarter of Section 11, Township 17
North, Range 3 East; thence North 89 degrees 12 minutes 45 seconds East (assumed bearing)
along the North line of said Northwest Quarter a distance of 1703.15 feet; thence south 00
degrees 47 minutes 15 seconds East a distance of 16.50 feet to the Southwesterly right-of-way
line of U.S. ff31 as per plans for I.S.H.C. Project No. ST F- 222(9) dated 1973; thence South 78
degrees 38 minutes 19 seconds East along, said right-of-way line a distance of 218.74 feet to the
west right of way line U.S. #31 on a curve having a radius of 22773.31 feet, the radius point of
which bears North 89 degrees 48 minutes 13 seconds West; thence Southerly along said curve
and West right-of-way line of U.S. #31 an arc distance of 771.69 feet to a point which bears
South 87 degrees 51 minutes 40 seconds East from said radius point; thence South 02 degrees 08
minutes 20 seconds West along said right-of-way line a distance of 656.61 feet to a curve having
a radius of 23063.3.1 feet, the radius point of which bears South 87 degrees 51 minutes 40
seconds East; thence Southerly along said curve and West right -of -way line an arc distance of
491.51 feet to a point which bears North 89 degrees 04 minutes 56 seconds West from said
radius point, thence South 89 degrees 06 minutes 10 seconds West parallel with the South line of
said Northwest Quarter Section a distance of 612.98 feet; thence South 00 degrees 08 minutes 07
seconds West a distance of 29.85 feet to the Beginning Point; thence continuing South 00
degrees 08 minutes 07 seconds West a distance of 316.20 feet; thence North 89 degrees 06
minutes 10 seconds East parallel with the South line of said Northwest Quarter Section a distance
of 53.40 feet; thence South 00 degrees 09 minutes 10 seconds West a distance 330.05 feet;
thence South 89 degrees 06 minutes 10 seconds West parallel with the South line of said
Northwest Quarter Section a distance of 88.30 feet to a point on a curve having a radius of
1055.00 feet the radius point of which bears South 85 degrees 45 minutes 37 seconds East;
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Sponsors: Councilors Carter, Rider, Sharp and Snyder
thence Northerly along said curve an arc distance of 99.48 feet to the point of curvature of a
reverse curve having a radius of 845.00 feet the radius point of which bears North 80 degrees 21
minutes 28 seconds West; thence Northerly along.the are of said curve a distance of 179.02 feet
to a point which bears North 87 degrees 30 minutes 13 seconds East from said radius point;
thence North 02 degrees 29 minutes 47 seconds West a distance of 99.79 feet to the point of
curvature of a curve having a radius of 365.00 feet the radius point of which bears South 87
degrees 30 minutes 13 seconds West; thence Northwesterly along said curve an arc distance of
191.26 feet to the point of curvature of a reverse curve having a radius of 40.00 feet the radius
point of which bears North 57 degrees 28 minutes 53 seconds East; thence Northerly along said
curve an arc distance of 42.63 feet to the point of curvature of a reverse curve having a radius of
165.00 feet the radius point of which bears North 61 degrees 27 minutes 18 seconds West; thence
Northeasterly along said curve an arc distance of 24.46 feet to the point of curvature of a reverse
curve having a radius of 40.00 feet to the radius point of which bears South 69 degrees 56
minutes 59 seconds East; thence Northeasterly along said curve an arc distance of 48.21 feet to a
point which bears North 00 degrees 53 minutes 50 seconds West from said radius point; thence
North 88 degrees 53 minutes 36 seconds East a distance of 29.01 feet to the Beginning Point.
Parcel III
And those easements and rights set out and described in Declaration of Covenants and Easements
by Meridian 465 Associates, L.P., dated August 24, 1990 and recorded August 31, 1990 as
Instrument No. 9021705 and amended by Easement Relocation recorded Juen 24, 1992 as
Instrument No. 9223780 and further amended by a Limitation of Declared Easements recorded
November 23, 1994 as Instrument No. 94.-48443.
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Parcel I
Sponsors: Councilors Carter, Rider, Sharp and Snyder
LAND DESCRIPTION- OFFICE HEADQUARTERS FACILITY
Part of the West Half of Section 11, Township 17 North, Range 3 east in Hamilton
County, Indiana, being more particularly described as follows:
Commencing at the Northwest corner of the Northwest Quarter of said Section 11, Township 17
North, Range 3 East; thence North 89 degrees 12 minutes 45 seconds East (assumed bearing)
along the North line of said Northwest Quarter a distance of 1703.15 feet; thence South 00
degrees 47 minutes 15 seconds East a distance of 16.50 feet to the ,Southwesterly right -of -way
line of U.S. #31 as per plans for Project 1.S.H.C. Project No. ST F-222(9) dated 1973; thence
South 78 degrees 38 minutes 19 seconds East, along said right-of-way line a distance of 218.74
feet to a curve having a radius of 22773.31 feet, the radius point of which bears North 89 degrees
48 minutes 13 seconds West; thence Southerly along said curve and West right -of -way line of
U.S. #31 a distance of 771.69 feet to a point which bears South 87 degrees 51 minutes 40
seconds East from said radius point; thence South 02 degrees 08 minutes 20 seconds West along
said right -of-way line a distance of 328.86 feet to the Beginning Point; thence continuing South
02 degrees 08 minutes 20 seconds West along said right-of-way line a distance of 327.75 feet to a
curve having a radius of 23063.31 feet, the radius point of which bears South 87 degrees 51
minute 40 seconds East; thence Southerly along said curve and West right -of -way line a distance
of 466.90 feet to a point which bears North 89 degrees 01 minutes 16 seconds West from said
radius point (said point also being on a curve having a radius of 1974.00 feet, the radius point of
which bears North 01 degree 04 minutes 19 seconds West; thence Westerly along the arc of said
curve a distance of 174.39 feet to the point of reverse curvature of a curve having a radius of
2026.00 feet, the radius point of which bears South 03 degrees 59 minutes 23 seconds West;
thence Westerly alogn the arc of said curve a distance of 180.32 feet to a point which bears North
01 degree 06 minutes 35 seconds West from said radius point; thence South 88 degrees 53
minutes 25 seconds West a distance of 289.45 feet to a curve having a radius of 40.00 feet the
radius point of which bears North 01 degree 06 minutes 35 seconds West; thence Northwesterly
along the are of said curve a distance of 48.06 feet to the point of reverse curvature of a curve
having.a radius of 165.00 feet, the radius point of which hears South 67 degrees 43 minutes 49
seconds West; thence Northwesterly along the are of said curve a distance of 130.56 feet to the
point of reverse curvature of a curve having a radius of 40.00 feet, the radius point of which bears
North 22 degrees 23 minutes 35 seconds East; thence Northwesterly along the are of the said
curve a distance of 45.74 feet to the point of compound curvature of a curve having a radius of
185.00 feet, the radius point of which bears North 87 degrees 54 minutes 18 seconds East; thence
Northerly along the arc of said curve a distance of 110.89 feet to a point which bears North 57
degrees 45 mintues 00 seconds West from said radius point; thence North 32 degrees 15 mintues
00 seconds East a distance of 297.48 feet to a curve having a radius of 261.00 feet, the radius
point of which bears North 57 degrees 45 minutes 00 seconds West; thence Northerly along the
arc of said curve a distance of 146.91 feet to a point which bears North 90 degrees 00 minutes 00
seconds East from said radius point; thence North 00 degrees 00 mintues 00 seconds East a
distance of 144.15 feet; thence North 90 degrees 00 minutes 00 seconds East a distance of 593.75
feet to the Beginning Point.
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Parcel II
Sponsors: Councilors Carter, Rider, Sharp and Snyder
Part of the Northwest Quarter of Section 11, Township 17 North, Range 3 East in Hamilton
County, Indiana, being more particularly described as follows;
Commencing at the Northwest corner of the said Northwest Quarter Section; thence on an
assumed bearing of North 89 degrees 12 minutes 45 seconds East along the North line of the said
Northwest Quarter Section a distance of 1320.00 feet; thence South 00 degrees 00 minutes 00
seconds West, parallel with the West line of the said Northwest Quarter Section, a distance of
65.00 feet; thence North 89 degrees 05 minutes 48 seconds East a distance of 597.86 feet to the
West Right -of -Way line of U.S. 31 (North Meridian Street) and a curve having a radius of
22773.31 feet, the radius point of which bears North 89 degrees 48 minutes 01 seconds West;
thence southerly along said West right -of -way line an are distance of 770.45 feet to a point which
hears South 87 degrees 51 minutes 40 seconds East from said radius point; thence South 02
degrees 08 minutes 20 seconds West along said West right -of -way line a distance of 264.82 feet
to the POINT OF BEGINNING; thence continuing South 02 degrees 08 minutes 20 seconds
West along said right-of-way line a distance of 64.04 feet; thence South 90 degrees 00 minutes
00 seconds west a distance of 593.75 feet to the Easterly Right of-Way line for. Illinois Street per
Warranty Deed recorded as Instnunent Number 9202819 in the Office of the Recorder of
Hamilton County, Indiana; thence North 00 degrees 00 minutes 00 seconds East along said East
right-of-way line a distance of 64.00 feet; thence North 90 degrees 00 minutes 00 seconds East a
distance of 596.14 feet to the Beginning of Point.
.Parcel I1I
Those easements and rights set out and described in a Declaration of Covenants and Easements
by Meridian 465 Associates, L.P., dated August 24, 1990, and recorded August 31, 1990, as
Instrument No. 9021705 and amended by an Easement Relocation recorded June 24, 1992, as
Instrument #9223780 and further amended by a Limitation of Declared Easements recorded.
November 23, 1994, as Instrument No. 94- 48443.
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Sponsors: Councilors Carter, Rider, Sharp and Snyder
EXHIBIT B
NOTICE OF ADOPTION REGARDING THE APPROVAL OF A
TEN -YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
FLYWHEEL HEALTHCARE, LLC, D /B /A YOUNG AT HEART
101 WEST 103 STREET, CARMEL, INDIANA 46290
PAGE 1 OF 1
PUBLIC NOTICE OF ADOPTION OF RESOLUTION CC: 05- 16 -11 -01
Notice is hereby given that the Common Council of the City of Carmel, Indiana did on the 2" of
May, 2011, adopt Resolution CC: 05- 16 -11 -01 designating an Economic Revitalization Area
"ERA for Flywheel Healthcare, LLC, d/b /a Young at Heart for its investment at its corporate
headquarters facility located at 101 West 103 Street. This Resolution, which affects the
following described property located in the City of Carmel, Indiana: 101 West 103 Street,
White River Township, Parcel No. 16- 13- 11- 00 -00- 036.008 as described in Exhibit A of
Resolution CC: 05- 16 -11 -01 (the Property was adopted following the filing of information by
Flywheel Healthcare, LLC, designating the Property as an ERA for the purpose of securing a
(10) ten year personal property tax abatement pursuant to Indiana Code Section 6 -1.1- 12.1 -4.5
relative to the installation of new qualifying equipment.
On the 16 of May 2011, at 6 p.m. in the Council Chamber Room, located at One Civic Square,
Carmel, Indiana, 46032, the Common Council shall hold a public hearing and receive all
remonstrances and objections from interested persons regarding these proceedings before taking
final action confirming, modifying or rescinding Resolution CC: 05- 16- 11 -01. A description of
the property and a copy of Resolution CC: 05- 16 -11 -01 are available for inspection in the
Hamilton County Assessor's Office, North 9 Street, Suite 214, Noblesville, Indiana 46060.
For additional information on the project, contact Larry Gigerich, Managing Director, Ginovus,
317 -819 -0890.
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