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Home My WebLink AboutCRC-2013-2 EDC Areas/Use of TIF RESOLUTION NO. )01 • , RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION OF ITS DETERMINATION OF NEED TO CAPTURE TAX INCREMENT REVENUES WHEREAS, the City of Carmel Redevelopment Commission (the "Commission") previously has established the"Economic Development Areas",see attached Exhibit A(the"Economic Development Areas"),and designated the Economic Development Areas as the "Allocation Areas" for purposes of capturing incremental property taxes(the"TIF Revenues")pursuant to Indiana Code 36-7-14-39 and IC 36-7-14-39.3;and WHEREAS,under IC 36-7-14-39(b)(3)the Commission is required to make certain determinations relating to its need to capture TIF Revenues for the following budget year. • WHEREAS, London Witte Group, LLC will provide the required communication notifying the Taxing Units impacted by the Economic Development Areas,as detailed in Exhibit B,of the Commissions intent to capture all of the available TIF Revenues for budget year 2014. NOW,THEREFORE, BE IT RESOLVED by the City of Carmel Redevelopment Commission, governing body of the City of Carmel Department of Redevelopment,as follows: 1. Pursuant to IC 36-7-14-39(b)(3), the Commission hereby makes the determination that, for budget year 2014, all of the incremental assessed value of taxable property in the Allocation Areas is needed to produce TIF Revenues necessary to make, when due,principal and interest payments on bonds issued or to be issued pursuant to IC 36-7-14-39(b)(2), plus the amount necessary for other purposes described in IC 36-7-14-39(b)(2). The Commission therefore determines that there is no excess assessed value in any of the Allocation Areas that may be released to the respective units in the manner prescribed in IC 36-7-14-39(b)(1). 2. The Commission hereby directs London Witte Group, LLC to provide written notifications of the determinations made herein to the Hamilton County Auditor, the Hamilton County Council, and each taxing unit that is wholly or partly located within the Allocation Areas,in the manner set forth in IC 36-7-14-39(b)(3)(B). 3.This Resolution shall take effect immediately upon adoption. ADOPTED by the City of Carmel Redevelopment Commission this 19th day of June 2013.P CARMEL REDEVE •tMENT COMMISSION V 2.‘4707ple/i William Hammer,P ' i.-n' David C.Bowers,Vice President Bradley +er,Secret. Tom Crowley,Member Jeff Worrell,Member Exhibit A Economic Development Area Allocation Area 116th Street Center 1 3 16t Street Center Amended 126th Street Amended 126th Street Amended 126th Street Expansion Amended Illinois Street Amended Illinois Street Arts District Lofts and Shoppes Arts District Lofts and Shoppes Carmel City Center Carmel City Center Carmel City Center Amended Carmel Downtown EDA 1 Carmel Downtown EDA 1 Carmel Downtown EDA 2 Carmel Downtown EDA 2 Carmel Drive Carmel Drive CRC Parcel 12 CRC Parcel 12 Gramercy Gramercy Gunstra Gunstra Hazel Dell North Hazel Dell North Hazel Dell South Hazel Dell South Lauth-Walker Lauth-Walker Legacy Legacy Lurie Lurie Merchants Pointe Merchants Pointe 2006 Merchants Pointe TIF Merchants Square Merchants Square Meridian& Main Meridian& Main Exhibit A Miso Miso National City TAA National City TTA North Illinois Street North Illinois Street North Illinois Street Expansion Old Meridian Old Meridian Old Meridian Expansion Old Methodist Old Methodist Old Town Old Town Old Town Shoppes Old Town Shoppes 2006 Old Town Shoppes Expansion Parkwood Crossing Parkwood Crossing Parkwood East Parkwood East West Clay . West Clay Exhibit A Exhibit B ® Township Board of Clay Township c/o Douglas Callahan, Trustee 10701 N College Ste B Indianapolis, IN 46280 O Hamilton County Solid Waste Management District Board Jim Belden, President 33 North 9th Street, Suite L21 Noblesville, IN 46060 ® City Council of the City of Carmel c/o Diana L. Cordray, Clerk Treasurer Carmel City Center, Third Floor One Civic Square Carmel, 1N 46032 ® Carmel-Clay Public Library Board c/o Wendy A. Phillips, Director 55 4th Avenue SE Carmel, IN 46032 O Carmel-Clay School Corporation Board of Trustees Dr. Stephen Tegarden, Superintendent 5201 E. Main Street Carmel, IN 46033 ® Hamilton County Council Brad Beaver, Council President One Hamilton County Square, Suite 157 Noblesville, IN 46060 ® Dawn Coverdale Hamilton County Auditor 33 North 9th Street, Suite L21 Noblesville, IN 46060 Exhibit B