Loading...
HomeMy WebLinkAbout2000-R-24 I • RESOLUTION NO. 2000-R- 2.'4 A RESOLUTION OF THE JEFFERSONVILLE COMMON COUNCIL APPROVING A DECLARATORY RESOLUTION AND ECONOMIC DEVELOPMENT PLAN OF THE REDEVELOPMENT COMMISSION OF JEFFERSONVILLE, INDIANA, AND APPROVING AN ORDER OF THE JEFFERSONVILLE PLAN COMMISSION CONCERNING THE BETHNOVA ECONOMIC DEVELOPMENT AREA WHEREAS, on April 26, 2000 the Jeffersonville Redevelopment Commission ( "Commission ") initially approved an Economic Development Plan ( "Plan") for the Beth -Nova Economic Development Area ( "Area ") in the City; and WHEREAS, on April 26, 2000 the Commission, adopted a declaratory resolution initially approving the Area as an economic development area and subject to economic development activities pursuant to IC 36 -7 -14 and IC 36 -7 -25 ( "Act "); and WHEREAS, on June 15, 2000 the Jeffersonville Plan Commission ( "Plan Commission "), approved the Plan and Declaratory Resolution; and WHEREAS, the Act requires that the Common Council of the City of Jeffersonville ap ( "Common Council ") approve the Declaratory Resolution and the Plan and the action of the Plan Commission; NOW, THEREFORE, BE IT RESOLVED by the Common Council as follows: 1. That the Plan for the Area is in all respects approved, ratified, and confirmed by the Common Council. 2. That the action of the Plan Commission on June 15, 2000, approving the Plan and the Declaratory Resolution is in all respects approved, ratified and confirmed by the Common Council. 3. That the Clerk- Treasurer is hereby directed to file a copy of the Declaratory Resolution, the Plan and the approving Order of the Plan Commission with the permanent minutes of this meeting. } This Resolution shall be effective from and after passage and approval by the Mayor on the effective date of the Declaratory Resolution. Passed and adopted this � bT'`'da y of l/u iv E. , 2000. ti // tA Z homas R. Gallig. C ip,„ Presiding Officer • . i • ATTEST: • fi • , Peggy ., C lerk- Treasurer Presented by me as Clerk- Treasurer to the Mayor of said City of Jeffersonville this D day of �J NE , 2000. e.. . • Peggy Wil • - Clerk - Treasurer Approved and signed by me this ,7(j day of fc;NE, , 2000. / // i cern tie homas R. Galli . an, May • ( r � 7 `i $ 4 3 p a 3 k 2 � w gg� • .�` (110 FACTUAL REPORT IN SUPPORT OF FINDINGS CONTAINED IN RESOLUTION 2000 -1 OF THE JEFFERSONVILLE REDEVELOPMENT COMMISSION 1. The Plan for the Economic Development Area will promote significant opportunities for the gainful employment of citizens of the City of Jeffersonville ( "City ") by retaining and /or creating approximately 74 jobs 2. The Plan will attract a major new business enterprise to the City as follows: The intent and purpose of the formation of the Economic Development Area is to expedite the location of a major industry to the City by enabling the City to purchase the land and /or provide other infrastructure improvements. 3. The planning, re- planning, development and redevelopment of the Economic Development Area will benefit the public health, safety, morals and welfare; increase the economic well being of the City and the State of Indiana; and serve to protect and increase property values in the City and the State of Indiana as follows: The project will benefit the public welfare as it will provide additional opportunities for City residents to be gainfully employed; the project will increase the economic well -being of the City and State as it will generate real and personal property taxes and inventory tax; the project will serve to and increase property values in the City and the State as it will catalyze the sale of approximately 30 acres of previously undeveloped land in the Clark Maritime Center. 4. The Plan for the Economic Development Area cannot be achieved by regulatory processes or by the ordinary operation of private enterprise without resort to I.C. 36 -7 -14 (the redevelopment statute) because of the lack of local public improvements, existence of conditions that lower the value of the land below that of nearby land, and multiple ownership of land because: The project will not locate in the Economic Development Area without significant economic incentives. The cost of the land is above the amount allowed in the project budget and the City cannot provide the necessary incentives for the project without access to increment captured in the Economic Development Area. 5. The accomplishment of the Plan for the Economic Development Area will be of public utility and benefit as measured by A. The attraction of an estimated seventy -four (74) permanent jobs providing significantly higher than the Clark County average compensation; B. An estimated increase in real property tax base of $2,966,167.00 of initial assessed valuation ($1,898,667.00 real } estate and $1,067,500.00 depreciable personal property); and C. Improved diversity of the economic base by providing additional jobs, by catalyzing the development of infrastructure improvements in the Area, and by encouraging additional industrial development. .fi 2S j { ` { } 1 1 f , , •. . 9 , . . • c v THE ECONOMIC DEVELOPMENT PLAN . 1 FOR THE BETH -NOVA ECONOMIC DEVELOPMENT PROJECT JEFFERSONVILLE REDEVELOPMENT COMMISSION 1 Purpose and Introduction 1 e This document is the Economic Development Plan ( "Plan ") for the Beth - I Nova Economic Development Project ( "Project') Economic Development Area ( "Economic Development Area ") for the City of Jeffersonville, Indiana ( "City "). It is intended to be approval by the Common Council, the Jeffersonville Plan Commission and the Jeffersonville Redevelopment Commission ( "Redevelopment Commission) in conformance with IC 36 -7 -14. Objectives sect ives The purposes of the Plan are to benefit the public health, safety, morals and welfare of the citizens of the City; increase the economic well -being of the City and the State of Indiana; and serve to protect and increase gie property values in the City and the State of Indiana. The Plan is designed to promote significant opportunities for the gainful employment of citizens of the City, attract a major new business enterprise to the City, provide for local public improvements in the Economic Development Area, remove conditions that lower the value of the land in the Economic Development Area below that of nearby land, attract and retain permanent jobs, increase the property tax base, and improve the diversity of the economic base of the City. The Factual Report attached to this Plan contains the supporting data for the above- declared purposes of the Plan. Description of Economic Development -Area i The Economic Development Area is located in the City and is described as that area contained in the maps and plats attached to this Plan. The general description of the area is approximately 30 acres located in the Clark Maritime Center in eastern Jeffersonville, Indiana.1 Project Description I The development of the Economic Development Area will proceed c immediately upon issuance of a note to the Indiana Port Commission for a portion of the purchase price of the area The Project will involve approximately $5 million in real property improvements and a $14.2 1 million investment in manufacturing equipment. 1 , . • Acquisition of Property In order to accomplish the Project, the Redevelopment Commission may acquire, without the use of eminent domain by the Redevelopment Commission, all or a portion of the Economic Development Area to be developed in conjunction with the Project. The Redevelopment Commission shall follow procedures in IC 36- 7 -14 -19 in the acquisition of property. The Redevelopment. Commission may not exercise the power of eminent domain in an economic development area Procedures With Respect to the Project P i In accomplishing the Project the Redevelopment Commission may proceed with the Project before the acquisition of all interests in land in the Economic Development Area. r' labor i All contracts for material or labo in the e accomplishment of the Project shall be let under IC 36 -1. In the planning and rezoning of real property acquired or to be used in the accomplishment of the Plan; the opening, closing, relocation and improvement of public ways; and the construction, relocation and improvement of sewers and utility services; the Redevelopment c o„ Commission shall proceed in the same manner as private owners of the property. The Redevelopment Commission may negotiate with proper officers and agencies of the City to secure the proper orders, approvals and consents. Any construction work required in connection with the Project may be municipal department agency. The or a enc carried out by the appropriate p p g y Redevelopment Commission may carry out the construction work if all plans, specifications, and drawings are approved by the appropriate department or agency and the statutory procedures for the letting of the contracts by the appropriate department or agency are followed by the Redevelopment Commission. The Redevelopment Commission may pay any charges or assessments made on account of orders, approval, consents and construction work with respect to the Project or may agree to pay these assessments in installments as provided by statute in the case of private owners. None of the real property acquired for the Project may be set aside and dedicated for public ways, parking facilities, sewers, levees, parks or other public purposes until the Redevelopment Commission has obtained the consents and approval of the department or agency under whose jurisdiction the property will be placed. • is Disposal of Property The Redevelopment Commission may dispose of real property acquired by sale or lease to the public after causing to be prepared two (2) separate appraisals of the sale value or rental value to be made by independent appraisers. However, if the real property is Tess than five (5) acres in size and the fair market value of the real property or interest has been appraised by one (1) independent appraiser at Tess than Ten Thousand Dollars ($10,000.00), the second appraisal may be made by a qualified employee of the Department of Redevelopment. The Redevelopment Commission will prepare an offering sheet and will maintain maps and plats showing the size and location of all parcels to be offered. Notice will be published of any offering in accordance with IC 5 -3 -1. The Redevelopment Commission will follow the procedures of IC 36- 7 -14 -22 in making a sale or lease of real property acquired. Financing of the Project It is the intention of the Redevelopment Commission to issue a note payable from incremental ad valorem property taxes allocated under IC 36- 7 -14 -39 in order to raise money for property acquisition and /or completion of the Project in the Economic Development Area The amount of this note may not exceed the total, as estimated by the Redevelopment Commission, of all expenses reasonably incurred in connection with the Project, including: 1.The total cost of all land, rights -of -way, and other property to be acquired and developed, 2. All reasonable and necessary architectural, engineering, legal, financing, accounting, advertising, and supervisory expenses related to the acquisition and development of the Project; 3. Expenses that the Redevelopment Commission is required or permitted to pay under I.C. 8- 23 -17. Amendment of the Plan By following the procedures specified in IC 36 -7 -14 -17.5, the Redevelopment Commission may amend the Plan for the Economic Development Area. However, the Common Council must approve any enlargement of the boundaries of the Economic Development Area 6: z: IS (C--- / /kJ - .'' °` Beth Nova Tube I Machinery Real Estate Proceeds . te, „. Tax Abatement Tax Abatement Available 1 190,132 190,132 106,899 106,899 0 2 266,185 252,875 106,899 101,554 18,655 3 199,638 159,711 106,899 85,519 .61, 307 4 152,106 98,869 106,899 69,484 90,652 • 5 114,079 57,040 106,899 53,450 110,488 { 6 85,559 106,899 42,760 • 149,698 7 71,299 106,899 32,070 146,128 8 71,299 106,899 21,380 156,818 9 71,299 106,899 10,690 167,508 10 71,299 106,899 5,345 172,853 Amount of note 203,000 Interest rate 6.00% Date of note 7/1/00 Payment Principal Interest Balance 01/01/2001 0 0 6,090 209,090 01/01/2002 0 0 12,545 221,635 01/01/2003 0 0 13,298 234,934 01/01 /2004 18,655 4,559 14,096 230,375 01/01/2005 61,307 47,485 13,822 182,890 01/01/2006 90,652 79,679 10,973 103,211 01/01/2007 109,404 103,212 6,193 (0) , c , TIF Beth - Nova Key Number Property Owner A41- 00001 -017 -1 Beth - Nova A42- 00003 - 051 -1 Indiana Port Commission Le . . gt hh'