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Resolution No. 2020-29RESOLUTION NO.2020-29 RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION DECLARING AN AREA IN THE CITY OF CARMEL, INDIANA, AS A REDEVELOPMENT AREA AND APPROVING A REDEVELOPMENT 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 "13Oh and Keystone Redevelopment Area" (the "Redevelopment Area"); and WHEREAS, the Commission has caused to be prepared maps and plats showing the boundaries of the Redevelopment 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 Redevelopment Area, and the parts of the Redevelopment 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 redevelopment projects as set forth in the Plan; and WHEREAS, there has been presented to this meeting for consideration and approval of the Commission a redevelopment plan for the Redevelopment Area entitled "Redevelopment Plan for the 136 h and Keystone Redevelopment Area" (the "Plan"); and WHEREAS, the Plan and supporting data were reviewed and considered by the Commission at this meeting; and WHEREAS, Sections 11, 12.2 and 15 of the Act have been created to provide all the duties and powers for the Commission to create "redevelopment areas" subject to the conditions set forth in the Act; and WHEREAS, Sections 39 and 52 of the Act permit 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 sections; and WHEREAS, Section 49 of the Act permits the establishment of an age -restricted housing program in accordance with 42 U.S.C. 3607 (the "Program") as part of the Plan; and WHEREAS, prior to the submission of the Program to the Commission, the City of Carmel Department of Redevelopment (the "Department") has consulted with persons interest in or affected by the proposed Program, and has held public meetings in the areas to be affected by the proposed Program to obtain the views of affected persons as required by Section 49 of the Act; and WHEREAS, the Commission deems it advisable to apply the provisions of said Sections 11, 12.2, 15 and 49 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 Commission finds that the Area described in Exhibit A in the City is an area in need of redevelopment pursuant to IC 36-7-1-3 because there has been lack of development, a cessation of growth, the character of occupancy of the Area and other factors that impair values or prevent a normal use or development of the Area. 2. The Plan for the Redevelopment Area cannot be achieved by regulatory processes or by the ordinary operation of private enterprise without resort to the powers allowed under Sections 11, 12.2, 15. 3. The public health and welfare will be benefited by accomplishment of the Plan for the Redevelopment Area. 4. The Program cannot be accomplished by regulatory processes or by the ordinary operation of private enterprise because of the lack of public improvements, the existence of improvements or conditions that lower the value of the land below that of nearby land, or other similar conditions. 5. The public health and welfare will be benefited by accomplishment of the purposes of the Program. 6. The accomplishment of the Program will be a public utility and benefit as measured by an increase in the property tax base, encouraging an age -diverse population in the City, or other similar public benefits. 7. The Program will enable the City to encourage older residents to locate or relocate to the City. 8. The Program will not increase the school -age population. 9. In support of the findings and determinations set forth in Sections 1 through 8 above, the Commission hereby adopts the specific findings set forth in the Plan. 10. Except as otherwise set forth in the Plan, the Plan does not contemplate the acquisition of property as a part of the redevelopment 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 Redevelopment 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. 11. The Commission finds that no residents of the Redevelopment 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. 2 12. The Plan, including the Program to be established in accordance with 42 U.S.C. 3607, 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. 13. The Redevelopment Area is hereby designated as an "area needing redevelopment" under Section 15 of the Act. 14. The entire Redevelopment Area is hereby designated as an "allocation area" pursuant to Sections 39 and 52 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 Sections. 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 Sections 39 and 52, 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 Sections 39 and 52, 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 52(b) 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 52(c) of the Act. 15. Said allocation area is hereby designated as the "136t' and Keystone Allocation Area" (the "Allocation Area'), and said allocation fund is hereby designated as the "136t' and Keystone Allocation Fund" (the "Allocation Fund"). The base assessment date for the Allocation Area shall be January 1, 2020, and the base assessed value shall have the meaning set forth in Section 52(a) of the Act. 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 136`h and Keystone Allocation Area. 16. Based on a study of the Redevelopment Area, the specific findings set forth in the Plan, and information provided by the prospective developer associated with the development of the Program, the Commission hereby specifically finds that the adoption of the allocation provision as provided herein will result in new property taxes in the Redevelopment Area that would not have been generated but for the adoption of the allocation provision. 17. 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. 18. The provisions of this Resolution shall be subject in all respects to the Act and any amendments thereto. 19. 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. 20. This resolution shall take effect immediately upon its adoption by the Commission. Adopted the 23' day of September, 2020. CITY OF CARMEL COMMSSIER ! President C_ I Vice President Se ret tuber Memb 4 EXHIBIT A Description of the 1361 and Keystone Redevelopment Area and 1361 and Keystone Shoppes Allocation Area The 136b and Keystone Redevelopment Area and 136"' and Keystone Allocation Area consists of the following parcels, as shown on the map attached hereto: PARCEL ID NUMBERS: 17-10-19-00-00-004.000 17-10-19-00-00-004.002 17-10-19-00-00-025.000 DMs 18146323v2 5 Exhibit A - 136th and Keystone allocation area map September 17, 2020 1:4,800 Parcel Boundary (public) Unincorporated Towns Subdivisions Interstates & US Highways State Highways Major Roads Minor Roads Lakes & Reservoirs Rivers & Streams 0 0.04 0.08 0.16 mi 0 0.05 0.1 0.2 km Author. Hamilton County strict acwracy standards have been employed, Hamilton County does not warrant or guarantee the accuracy of the Information contained herein and disclaims any and all Ilabllrty resulting from any error or arriolDn.