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HomeMy WebLinkAbout1993-R-15RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PURPOSES OF PROPERTY TAX ABATEMENT WHEREAS, Youngstown Partners, L.P., an Indiana Limited Partnership, has petitioned the Common Council of the City of Jeffersonville, Indiana, for a deduction in real property taxes to be assessed on proposed improvements to be made at the Youngstown Shopping Center, located in the County, Indiana; and WHEREAS, Youngstown Partners, City of Jeffersonville, Clark L.P., has submitted a Statement of Benefits on the form prescribed by the Indiana State Board of Tax Commissioners for such purpose, which statement includes a description of the proposed redevelopment, an estimate of the number of individuals who will be employed as a result of the redevelopment, an estimate of the annual salaries of these individuals, and an estimate of the value of the redevelopment; and WHEREAS, the Common Council of the City of Jeffersonville has previously determined that the area in which the proposed redevelopment project is located in the city of Jeffersonville qualifies as an economic revitalization area pursuant to Indiana Code 6-1.1-12.1 et seq., and Resolution 91-R-32; and WHEREAS, the Common Council has reviewed the Statement of Benefits submitted herein, and attaches and incorporates that Statement to this Resolution. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the city of Jeffersonville that it specifically and affirmatively finds as follows: 1. That the estimate of the value of the redevelopment or rehabilitation is reasonable for projects of the nature described in the Statement of Benefits submitted by the developer. 2. That the estimate of the number of individuals who will be employed or whose employment will be retained can reasonably be expected to result from the proposed described redevelopment or rehabilitation. That the estimate of the annual salaries of those individuals who will be employed or whose employment will be retained can be reasonably expected to result from the proposed described redevelopment or rehabilitation. 4. That all other information requested from Youngstown Partners, L.P., has been submitted, and the benefits described in such information can be reasonably expected to result from the proposed described redevelopment or rehabilitation. 5. That the totality of benefits for said redevelopment or rehabilitation is sufficient to justify the deduction. BE IT FURTHER RESOLVED that the Common Council of the city of Jeffersonville hereby approves the application for deduction presented by the Statement of Benefits filed by Youngstown Partners, L.P., and that said developer shall be entitled to deductions for a period of ten (10) years for improvements to real property, pursuant to the provisions of I.C. 6-1.1-12-3(d) and I.C. 6-1.1-12.1-4(d)(3), with the timely filing and perfection thereof with the Clark County Auditor's office. Passed and adopted this ~/ day of ~'-~ , 1993, by the Common Council of the City of Jeffersonville, Clark County, Indiana. ATTEST: Pr~~-t~~ Common~ C. Richard Spencer~Jr. f Clerk-Treasurer Presented by me as Clerk-Treasurer to the Mayor of the City of Jeffersonville, Indiana, this ~-~! day of h~--~ , 1993. C. Richard Spencer, Jr. ~/ Clerk-Treasurer Approved and signed by me this 1993. Mayor Raymoh~ P~rker {'