HomeMy WebLinkAbout2016-R-7RESOLUTION NO. 2016 -R -
BEFORE THE COMMON COUNCIL
FOR THE CITY OF JEFFERSONVILLE
STATE OF INDIANA
A RESOLUTION AUTHORIZING AN INVESTMENT DEDUCTION WITHIN THE
JEFFERSONVILLE URBAN ENTERPRISE ZONE
WHEREAS, the City of Jeffersonville, Indiana (the "City") has previously adopted
Resolution 99-R-32, which established an Urban Enterprise Zone for downtown Jeffersonville,
Indiana (JUEZ); and,
WHEREAS, an Urban Enterprise Zone (UEZ) is a specifically designated area in which
businesses and residents alike are afforded certain tax benefits and in turn businesses remit a
percentage of their tax savings to the local Urban Enterprise Association (UEA) who manage
these funds for the benefit of an UEZ; and,
WHEREAS, the City has established the Jeffersonville Urban Enterprise Association
(JUEA), a non -for profit agency, for the purpose of managing the JUEZ located in downtown
Jeffersonville, Indiana; and,
WHEREAS, Big 4 Station, LLC, its heirs and assigns, plans to build a new 93 room
Marriott Towne Place Suites (hereinafter the "Marriott") within the JUEZ located at 301 W.
Maple Street (hereinafter the "Property"), contingent upon receiving an enterprise zone
investment deduction; and,
WHEREAS, pursuant to Ind. Code § 6-1.1-45-9(a), a taxpayer that makes a qualified
investment is entitled to a deduction from the assessed value of the taxpayer's enterprise zone
property located at the enterprise zone location for which the taxpayer made the qualified
investment; and,
WHEREAS, pursuant to Ind. Code § 6-1.1-45-7, the new construction of the Marriott
constitutes a qualified investment; and,
WHEREAS, the JUEZ is in an allocation area; and,
WHEREAS, pursuant to Ind. Code § 6-1.1-45-9(d), a taxpayer that makes a qualified
investment at an enterprise zone location that is located within an allocation area is entitled to a
deduction under this section only if the deduction is approved by the legislative body that created
the redevelopment commission; and,
WHEREAS, the Common Council of the City of Jeffersonville, Indiana (hereinafter this
"Common Council") is the legislative body and created the City of Jeffersonville Redevelopment
Commission; and,
WHEREAS, this Common Council desires to grant Big 4 Station, LLC, its heirs and
assigns an investment deduction.
NOW THEREFORE, BE IT RESOLVED, by the Common Council for the City of
Jeffersonville, Indiana and hereby authorizes the following:
1. Big 4 Station, LLC, its heirs and assigns shall be granted an investment
deduction for improvements made to the Property located in the JUEZ for a
period of ten (10) years, pursuant to Ind. Code § 6-1.1-45 et seq.
2. This resolution shall be in full force and effect from and after its passage by
the Common Council and approval by the Mayor.
Voted "No"
PASSED AND ADOPTED by the Common Council of the City of Jeffersonville, Indiana upon
this / day of April, 2016.
Vicki Conlin, Clerk
City of Jeffersonville, Indiana
/k0,010,
I, L Y 4
1I'"1�
Matt 0 en, Pr
Jeffersonville Common Council
PRESENTED by me to the Mayor of the City of Jeffersonville, Indiana upon this (P day of
April, 2016.
icki Conlin, Clerk
City of Jeffersonville, Indiana
SIGNED and APPROVED by me upon this 13 day of April, 01
Mike Moor:, Mayor
City of Jeffersonville, Indiana
V3 IV lt/f1ld3JNOJ
VD:IV 9NIISIX3
N
n
0
z
n
m
D
r
00
c
1
v
2
0
c
-1
r_
Z
rn
N
—I
rn
z
0
x
:4
sapeds L :pap/talc! Supped
N
0
0
:papinoid 8uPaed
tD
W
V)
CL)
(D
+•a
Jed-/+008'LT
:swoon ieloi
2
0
r
tv
0
0)
N. JJf7J5` r
O
m
D
tr
0
471
MULBERRY STREET
133211S 31dVW M
x .\
U
w
a:
0
0
-13
z
m
CD
141
Q
n
n
0
D
Z�m
0
z
iii