Resolution 2020-05 (Brookshire Village Declaratory Resolution)RESOLUTION NO.2020-05
RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION
DECLARING AN AREA IN THE CITY OF CARMEL, INDIANA, AS AN ECONOMIC
DEVELOPMENT AREA AND APPROVING AN ECONOMIC DEVELOPMENT PLAN
FOR SAID AREA
WHEREAS, the Carmel Redevelopment Commission (the "Commission"), as the
governing body of the City of Carmel Redevelopment District (the "District"), pursuant to
Indiana Code 36-7-14, as amended (the "Act"), has thoroughly studied that area of the City of
Carmel, Indiana (the "City"), as described on Exhibit A attached hereto and hereby designated as
the "Brookshire Village Shoppes Economic Development Area" (the "Economic Development
Area"); and
WHEREAS, the Commission has caused to be prepared maps and plats showing 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, economic development or redevelopment of the Economic Development Area, and the
parts of the Economic Development Area that are to be devoted to public ways, sewerage and
other public purposes under the Plan (as defined below); and
WHEREAS, the Commission has caused to be prepared estimates of the costs of the
economic development projects as set forth in the Plan; and
WHEREAS, there has been presented to this meeting for consideration and approval of
the Commission an economic development plan for the Economic Development Area entitled
"Economic Development Plan for the Brookshire Village Shoppes Economic Development
Area" (the "Plan"); and
WHEREAS, the Plan and supporting data were reviewed and considered by the
Commission at this meeting; and
WHEREAS, Section 39 of the Act permits the creation of "allocation areas" to provide
for the allocation and distribution of property taxes for the purposes and in the manner provided
in said section; and
WHEREAS, Sections 41 and 43 of the Act permit the creation of "Economic
Development Areas" and provide that all of the rights, powers, privileges and immunities that
may be exercised by this Commission in an area needing redevelopment or urban renewal area
may be exercised in an economic development area, subject to the conditions set forth in the Act;
and
WHEREAS, the Commission deems it advisable to apply the provisions of said Sections
39, 41, and 43 of the Act to the Plan and financing of the Plan.
NOW, THEREFORE, BE IT RESOLVED by the City of Carmel Redevelopment
Commission, as the governing body of the City of Carmel Redevelopment District, as follows:
1. The Plan for the Economic Development Area promotes significant opportunities
for the gainful employment of the citizens of the City, will assist in attracting major new
business enterprises to the City, may result in the retention or expansion of significant business
enterprises existing in the City, and meets other purposes of Sections 2.5, 41 and 43 of the Act,
including without limitation benefiting the public health, safety and welfare, increasing the
economic well-being of the City and the State of Indiana (the "State"), and serving to protect and
increase property values in the City and the State.
2. The Plan for the Economic Development Area cannot be achieved by regulatory
processes or by the ordinary operation of private enterprise without resort to the powers allowed
under Sections 2.5, 41 and 43 of the Act because of lack of local public improvements, existence
of improvements or conditions that lower the value of the land below that of nearby land, or
other similar conditions, including without limitation the cost of the projects contemplated by the
Plan and the necessity for requiring the proper use of land so as to best serve the interests of the
City and its citizens.
3. The public health and welfare will be benefited by accomplishment of the Plan for
the Economic Development Area.
4. The accomplishment of the Plan for the Economic Development Area will be a
public utility and benefit as measured by the attraction or retention of permanent jobs, an
increase in the property tax base, improved diversity of the economic base and other similar
public benefits.
5. The Plan for the Economic Development Area conforms to other development
and redevelopment plans for the City.
6. In support of the findings and determinations set forth in Sections 1 through 5
above, the Commission hereby adopts the specific findings set forth in the Plan.
7. Except as otherwise set forth in the Plan, the Plan does not contemplate the
acquisition of property as a part of the economic development strategy, and the Commission
does not at this time propose to acquire any specific parcels of land or interests in land within the
boundaries of the Economic Development Area. If the Commission proposes to acquire specific
parcels of land, the required procedures for amending the Plan under the Act will be followed,
including notice by publication, notice to affected property owners and a public hearing.
8. The Commission finds that no residents of the Economic Development Area will
be displaced by any project resulting from the Plan, and therefore finds that it does not need to
give consideration to transitional and permanent provisions for adequate housing for the
residents.
9. The Plan is hereby in all respects approved, and the secretary of the Commission
is hereby directed to file a certified copy of the Plan with the minutes of this meeting.
10. The Economic Development Area is hereby designated as an "Economic
Development Area" under Section 41 of the Act.
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11. The entire Economic Development Area is hereby designated as an "allocation
area" pursuant to Section 39 of the Act for purposes of the allocation and distribution of property
taxes on real property for the purposes and in the manner provided by said Section. Any
property taxes subsequently levied by or for the benefit of any public body entitled to a
distribution of property taxes on taxable property in said allocation area shall be allocated and
distributed as follows:
Except as otherwise provided in said Section 39, the proceeds of taxes attributable
to the lesser of the assessed value of the property for the assessment date with respect to
which the allocation and distribution is made, or the base assessed value, shall be
allocated to and when collected paid into the funds of the respective taxing units. Except
as otherwise provided in said Section 39, property tax proceeds in excess of those
described in the previous sentence shall be allocated to the redevelopment district and
when collected paid into an allocation fund for said allocation area that may be used by
the redevelopment district to do one or more of the things specified in Section 39(b)(3) of
the Act, as the same may be amended from time to time. Said allocation fund may not be
used for operating expenses of the Commission. Except as otherwise provided in the Act,
before June 15 of each year, the Commission shall take the actions set forth in Section
39(b)(4) of the Act.
12. Said allocation area is hereby designated as the "Brookshire Village Shoppes
Allocation Area" (the "Allocation Area"), and said allocation fund is hereby designated as the
"Brookshire Village Shoppes Allocation Fund" (the "Allocation Fund"). The base assessment
date for the Allocation Area shall be January 1, 2020. This allocation provisions herein relating
to the Allocation Area shall expire on the later of twenty-five (25) years after the date on which
the first obligation is incurred to pay principal and interest on bonds or lease rentals on leases
payable from tax increment revenues derived from the Brookshire Village Shoppes Allocation
Area.
13. Based on a study of the Economic Development Area, the specific findings set
forth in the Plan, and information provided by prospective developers related thereto, the
Commission hereby specifically finds that the adoption of the allocation provision as provided
herein will result in new property taxes in the Economic Development Area that would not have
been generated but for the adoption of the allocation provision.
14. The officers of the Commission are hereby directed to make any and all required
filings with the Indiana Department of Local Government Finance and the Hamilton County
Auditor in connection with the creation of the Allocation Area.
15. The provisions of this Resolution shall be subject in all respects to the Act and
any amendments thereto.
16. This Resolution, together with any supporting data and together with the Plan,
shall be submitted to the Carmel Plan Commission (the "Plan Commission") and the Common
Council of the City (the "Council"), and if approved by the Plan Commission and the Council
shall be submitted to a public hearing and remonstrance as provided in the Act, after public
notice all as required by the Act.
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17. This resolution shall take effect immediately upon its adoption by the
Commission.
Adopted the 191h day of February, 2020.
CITY OF CARMEL
COMMISSION
Vice President
Secretary
EXHIBIT A
Description of the Brookshire Village Shoppes Economic Development Area
and Brookshire Village Shoppes Allocation Area
The Brookshire Village Shoppes Economic Development Area and Brookshire Village
Shoppes Allocation Area consists of the following parcel, as shown on the map attached
hereto:
PARCEL ID NUMBER:
16-10-32-00-00-005.000
Brookshire Village Shoppes allocation area
February 5. 2020 1:1,020
Parceis
0 0-0075 0015 003m
0 4 012E 0 U_1 0 C5 km
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DMS 16569551.1
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