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HomeMy WebLinkAbout2018-OR-9 RESOLUTION NO.2018-R- 9 BEFORE THE JEFFERSONVILLE REDEVELOPMENT COMMISSION STATE OF INDIANA A RESOLUTION CLARIFYING DECLARATRY RESOLUTION OF THE JEFFERSONVILLE REDEVELOPMENT COMMISSION ESTABLISHING THE GATEWAY REDEVELOPMENT AREA WHEREAS, on November 1, 2000 the Jeffersonville Redevelopment Commission (hereinafter the "Commission") adopted a Declaratory Resolution recorded on January 10, 2002 as Instrument 2002201033; and WHEREAS,the purpose of the Resolution was to Gateway Redevelopment Area or TIF district;and WHEREAS,the Resolution is hereby attached as Exhibit"A";and WHEREAS, the purpose of establishing the Gateway Redevelopment Area of TIF District was to allow the development of the area, collect Tax Increment Financing funds and expend said funds for the development of the area;and WHEREAS,the Commission has entered into a separate agreement to convey and develop certain real estate as described in Exhibit"B";and WHEREAS, the Commission desires to clarify that the real estate that is the subject matter of the Resolution includes the real estate described in Exhibit "B" because it is located within the Gateway Redevelopment Area of TIF district,but for only the purposes of developing the area,collecting Tax Increment Financing Funds and expending said funds for the development of the area;and NOW,THEREFORE,BE IT RESOLVED bythe Jeffersonville Redevelopment Commission that the Declaratory Resolution adopted on November 1, 2000, recorded on January 10, 2002 as Instrument 2002201033,does include the real estate described in Exhibit"B"; BE IT FURTHER RESOLVED by the Jeffersonville Redevelopment Commission that the real estate described in Exhibit"B" is not encumbered by the Declaratory Resolution since only operates as a legal mechanism for the purposes of developing the area,collecting Tax Increment Financing Funds and expending said funds for the development of the area;and BE IT FUTHRE RESOLVED bythe Jeffersonville Redevelopment Commission that a copy of this Resolution shall be filed with the Clark County,Indiana Recorder Office. SO RESOLVED this day of /% December,2018. /////e /. - ----- R.Monty Sne � ,Prrsid nt Jeffersonville development Coir inns' Sion Attest: 40 4 Matt V, •n,Secretary__ EXHIBIT"A" DECLARATORY RESOLUTION ESTABLISHING GATEWAY REDEVELOPMENT AREA • Iv OCT-30-00 15:38 From:ICE MILLER FL 20 B 2172362218 T-733 P.02/07 Job-283 � _ 19P skt-kt -QA-Z Shirley Nolo1 CLARK COUNTY RECORDER Clark County Recorder ',201033 Page 1 of 19 RESOLUTION NO. 20081 to 01/10/2002 Time 09:53:41 DECLARATORY RESOLUTION Or THE JEFFERSONVILLE REDEVELOPMENT COMMISSION WHEREAS,the City ofJeffersonville("City")Redevelopment Commission("Commission") has investigated, studied and surveyed blighted areas within the corporate boundaries of the City; and WHEREAS,the Commission has selected a blighted area to be redeveloped under IC 36-7- 14 and IC 36-7-2,5(collectively,"Act"); and WHEREAS, the Commission has prepared a redevelopment plan("Plan") for the selected blighted area,which Plan is attached to and incorporated by reference in this resolution; and WHEREAS,the Commission has caused to be prepared: (1) Maps and plats showing: (A) the boundaries of the redevelopment area, the location of various parcels ofproperty,streets,alloys,and other features affecting the acquisition, clearance, replatting, replanning, rezoning or redevelopment of the area, indicating any parcels of property to be excluded from the acquisition; and (B) the parts of the acquired areas that are to be devoted to public ways, levees, sewerage, parks, playgrounds, and other public purposes under the Plan; (2) Lists of the owners of the various parcels of property proposed to be acquired attached as Exhibit B; and (3) An estimate of the cost of acquisition and redevelopment;and WgERR 4c,the Commission has caused to be prepared a factual report("Report")in support of the findings contained in this resolution, which Report is attached to and incorporated by reference in this resolution; NOW,THEREFORE,BE IT RESOLVED BY THE COMMISSION THAT: (1) The Commission has selected as a blighted area an area within its corporate boundaries,which area the Commission is hereby designating as the Gateway Redevelopment Arca ("Redevelopment Area"),and which Redevelopment Area is described in Exhibit A. SUBJECT R, BFO T KTIO G80095,1 'ryAL ANC hR�AN JAN 10 2002 'AUDITOR CLARK COUNTY OCT-30-00 15:39 From:ICE MILLER FL 30 B 3172362219 T-733 P.03/07 Job-293 (2) The Commission finds that the Redevelopment Area is a menace to the social and economic interest of the City and its inhabitants;it will be of public utility and benefit to acquire the Redevelopment Area and redevelop it under the Act;and the Plan conforms to other development and redevelopment plans for the City. (3) The Commission further finds that; (A) The Redevelopment Area is an area in which normal development and occupancy are undesirable or impossible because of lack of development, cessation of growth, deterioration of improvements, character of occupancy, age, obsolescence, substandard buildings, and other factors that impair values or prevent a normal use or development of property. (B) The Redevelopment Area has become blighted to an extent that cannot be corrected by regulatory processes or the ordinary operations ofprivate enterprise without resort to the powers allowed under the Act for the reasons set forth in the Report; and (C) The public health and welfare will be benefitted by the acquisition and redevelopment of the Redevelopment Area for the reasons sat forth in the Report. (4) Tho Commission proposes to acquire all of the interests in land within the Redevelopment Area, except 934 Spring Street(Walgreens). (5) The Commission estimates that the cost of implementing the Plan will be approximately$7,000,000. ,(6) The Commission finds that no residents of the Redevelopment Area will be displaced by any project resulting from the Plan; and, therefore, the Commission finds that it does not need to give consideration to transitional and permanent provisions for adequate housing for the residents. (7) This paragraph shall be considered the allocation provision for the purposes of IC 36- 7-14-39. The entire Redevelopment Area shall constitute an allocation area as defined in IC 36-7- 14-39("Allocation Area")_ Any property taxes levied on or after the effective date of this resolution by or for the benefit of any public body entitled to a distribution of property taxes on taxable property in the allocation area shall be allocated and distributed in accordance with IC 36-7-14-39 or any applicable successor provision. The Commission hereby modifies the definition of property taxes in IC 36-7-14-39(a) to include taxes imposed under IC 6-1.1 on the depreciable personal property located and taxable on the designated taxpayer's (designated below) site of operations within the Allocation Area in accordance with the procedures and limitations sot forth in IC 36-7-14- 39 and-39.3. This allocation provision shall expire no later than 30 years after the effective date of this resolution. e4009y.: -2- OCT-20-00 15:39 From:ICE MILLER FL 30 B 3172362219 T-728 P-04/07 Job-363 (8) The presiding officer of the Commission is hereby authorized and directed to submit this resolution,the Plan,and the Report to the Jeffersonville Plan Commission("Plan Commission") for its approval. (9) The Commission also directs the presiding officer,after receipt of the written order of approval of the Plan Commission which has been approved by the Common Council to publish notice of the adoption and substance of this resolution in accordance with IC 5-3-1-4 and to file notice with the Plan Commission,the Board of Zoning Appeals,the Board of Public Works,the Park Board,the building commissioner and any other departments or agencies of the City concerned with unit planning,zoning variances,land use or the issuance of building permits. The notice must state that maps and plats have been prepared and can be inspected at the office of the City's department of redevelopment and must establish a date when the Commission will receive and hear remonstrances and objections from persons interested in or affected by the proceedings pertaining to the proposed project and will determine the public utility and benefit of the proposed project. Copies of the notice must also be filed with the officer authorized to fix budgets,tax rates and tax levies under IC 6-1.1-17-5 for each taxing unit that is either wholly or partly located within the proposed Allocation Area. (10) The Commission also directs the presiding officer to prepare or cause to be prepared a statement disclosing the impact of the Allocation Area, including the following: (A) The estimated economic benefits and costs incurred by the Allocation Area, as measured by increased employment and anticipated growth of real property,personal property and inventory assessed values; and (B) The anticipated impact on tax revenues of each taxing unit that is either wholly or partly located within the Allocation Area. A copy of this statement shall be filed with each such taxing unit with a copy of the notice required under Section 1.7 of the Act at least 10 days before the date of the hearing described in Section 10 of this resolution. (11) This Resolution shall be effective as of its date of adoption. 6130095.1 - 3 - OCT-30-00 15:88 From:ICE MILLER FL 30 B 3172362219 1-732 P.05/07 Job-383 Adopted U.pA JJ f, , 2000. JEFFERSONVILLE REDEVELOPMENT COMMISSION //' / ., d r , iiPresident de ice P i nt , �// ______, Seer 1 ow IP `rv ,lib 'ember • / /' ill _ / ' Member KITES ; " Alt I . L----------Th Secr= Vir- IV •• aaoovs.i -4- AUG-25-00 14:29 Pram:ICE MILLER FL 30 A 13172352219 T-933 P.16/24 Job-414 ORDER OF THE JEFFERSONVILLE PLAN COMMISSION DETERMINING THAT A DECLARATORY RESOLUTION AND REDEVELOPMENT PLAN APPROVED AND ADOPTED BY THE JEFFERSONVILLE REDEVELOPMENT COMMISSION CONFORM TO THE COMPREHENSIVE PLAN AND APPROVING THAT RESOLUTION AND THE REDEVELOPMENT PLAN WHEREAS,the ciyofJeffersonville("City")Redevelopment Commission("Commission") on the day ofLite).../.12-724,10000, initially approved a Redevelopment Plan("Plan")for theO A2 Redevelopment Area("Area")in the City and adopted a Declaratory Resolution declarin that the Area is a blighted area and subject to redevelopment activities pursuant to IC 36-7-14 and IC 36-7-25 and all acts supplemental and amendatory thereto("Act"); and WHEREAS, the Act requires approval of the Declaratory Resolution and the Plan by the Jeffersonville Plan Commission("Plan Commission"); NOW,THEREFORE, BE IT ORDERED by the Plan Commission,as follows: 1. The Plan for the Area conforms to the Comprehensive Plan of development for the City. 2. The Plan is in all respects approved,ratified and confirmed. 3. The Secretary of the Plan Commission is hereby directed to file a copy of the Declaratory Resolution and the Plan with the permanent minutes of this meeting_ Passed by the Jeffersonville Plan Commission,this �/j g-day of I 1 2000. Pr; i.'nt ATTEST: 4i Sere Li 680100.1 SouthEastern Indiana Title Company Strre 131 E. Court Ave. #101 • P.O. Box 1418 • Jeffersonville,IN 47131-1418 Telephone(812)282-8486 • Facsimile(812)282-7199 November 29, 2001 GATEWAY REDEVELOPMENT DISTRICT JEFFERSONVILLE, INDIANA TAX IDENTIFICATION NOS. 19-45-10 19-46-35 19-44-13 19-45-11 19-45-39 19-46-23 19-45-51 19-45-40 19-44-11 19-46-38 19-45-41 19-46-24 19-46-30 19-45-42 19-44-15 19-46-29 19-45-43 19-44-09 (Estopinal)* • 19-46-28 19-45-44 19-44-08 (Estopinal)* 19-46-27 19-45-45 19-46-34 19-46-26 19-45-46 19-44-07 19-46-25 19-45-47 19-46-33 19-46-36 19-45-48 19-46-22 19-46-39 19-45-49 19-44-14 19-46-01 19-45-50 19-46-21 1946-40 19-45-17 19-44-06 19-46-41 19-45-19 19-46-20 19-46-02 19-45-20 19-44-05 19-46-03 19-45-21 19-46-19 19-46-04 19-45-22 19-45-14 19-46-05 19-45-23 19-46-18 19-46-06 19-45-24 19-45-15 19-46-07 19-45-25 19-46-12 19-46-08 19-43-07** 19-45-57 19-46-09 19-45-13 19-46-10 19-45-55 19-46-11 Part of 19-45-12 19-46-13 19-45-54 19-46-15 19-45-59 19-46-16 19-45-56 19-46-17 19-45-16 *There was not enough information on the plat to tell if Estopinal is intended to be included. **Thornton's is included in this identification number. CERTIFICATE Re: Filing of Notice Pursuant to IC 36-7-14-17(b) and Filing of Economic Impact Statement pursuant to IC 36-7-14-17(c) I, 14l11 i4✓ the duly chosen, qualified and acting Secretary of the Jeffersonville Redevelopment Commission hereby certify that the attached notice of adoption and substance of the declaratory resolution and notice of hearing was filed with the following bodies prior to 2 1 , 2001: Jeffersonville Plan Commission Board of Zoning Appeals Board of Public Works Board of Parks and Recreation Building Commissioner and any other departments,bodies or officers of the City of Jeffersonville having to do with planning, zoning variances, land use or the issuance of building permits. These agencies and officers were notified that until the Redevelopment Commission confirms, modifies and confirms or rescinds the resolution,or the confirmation of the resolution is set aside on appeal,these agencies and officers may not: (1) Authorize any construction on properties or sewers in the area described in the resolution, including substantial modifications, rebuilding, conversion, enlargement, additions, and major structural improvements; or (2) Take any action regarding the zoning or rezoning of property,or the opening,closing, or improvement of streets, alleys, or boulevards in the area described in the resolution. I further certify that the notice of hearing and the economic impact statement were filed with the appropriate officers of the following taxing units prior to A 21 ° , 2001: City of Jeffersonville G f ec,�c✓ C,)cce- Schools - ce4 Township Clark County G`!' \( ( v rtSolid Waste District Public Library [all other appropriate taxing units] �r Dated �arc h 2� , 2001 trfrog Seca r 680100.1 • RESOLUTION CONFIRMING THE RESOLUTION OF THE JEFFERSONVILLE REDEVELOPMENT COMMISSION ADOPTED ON NOVEMBER 1:t,2000, ENTITLED "DECLARATORY RESOLUTION OF THE JEFFERSONVILLE REDEVELOPMENT COMMISSION" RESOLUTION NO. Z.0\-*R- I WHEREAS, the Jeffersonville ("City") Redevelopment Commission ("Commission") on November 01,2000,adopted a declaratory resolution NO.2000-R-4 entitled"Declaratory Resolution of the Jeffersonville Redevelopment Commission" ("Declaratory Resolution") establishing the Gateway Redevelopment Area("Area") as a blighted area under IC 36-7-14 and IC 36-7-25; and WHEREAS,the Declaratory Resolution approved the Redevelopment Plan presented at the November 1St, 2001, meeting of the Commission, which Redevelopment Plan contained specific recommendations for redevelopment of the Area, including the creation of an allocation area as further described in the Redevelopment Plan("Project"); and WHEREAS, the Declaratory Resolution established an allocation area("Allocation Area")within the Area in accordance with IC 36-7-14-39; and WHEREAS,the Commission submitted the Declaratory Resolution and supporting data to the Jeffersonville Plan Commission("Plan Commission") and the Plan Commission issued its written order approving the Declaratory Resolution and the Redevelopment Plan as submitted; and . WHEREAS,the Common Council approved the order of the Plan Commission; WHEREAS,the Commission has found that there will be no residents of the Area who will be displaced by the Project; and WHEREAS, the Commission published notice in The Evening News of the adoption and substance of the Declaratory Resolution in accordance with IC 36-7-14-17 and IC 5-3-1 on February 12th and 196,2001,which notice also gave notice of a hearing on the proposed Project to be held by the Commission; and WHEREAS,the notice described in the preceding paragraph was also filed in the office of the Plan Commission, the Board of Zoning Appeals, the Public Works Board, the Park Board, the Building Commissioner and any other departments, bodies or officers having to do with City planning,variances from zoning ordinances, land use or the issuance of building permits; and WHEREAS, copies of the notice were also filed on March 1SL, 2001, with the officer authorized to fix budgets, tax rates and tax levies under IC 6-1.1-17-5 for each taxing unit that is either wholly or partly located within the proposed Allocation Area, together with a statement disclosing the impact of the Allocation Area, including the following: 680100.1 I • (A) The estimated economic benefits and costs incurred by the Allocation Area, as measured by increased employment and anticipated growth of real property,personal property and inventory assessed values; and (B) The anticipated impact on tax revenues of each taxing unit;and WHEREAS,the Commission on March 21',2001,conducted a public hearing at which the Commission heard all persons interested in the proceedings and considered all written remonstrances and objections that were filed; NOW, THEREFORE, BE IT RESOLVED BY THE JEFFERSONVILLE REDEVELOPMENT COMMISSION THAT: 1. The Commission has considered the evidence presented and now finds and determines that it will be of public utility and benefit to proceed with the establishment of the Area and the Project in, serving or benefitting the Area. 2. The Declaratory Resolution and Redevelopment Plan approved by the Commission on November 15`, 2000, copies of which are attached hereto and incorporated herein, are hereby confirmed. 3. The Secretary is hereby directed to record this Resolution with the Clark County Recorder, immediately to notify the State Board of Tax Commissioners of the designation of the Allocation Area within the Area and to file this resolution with the Clark County Auditor. 680100.1 -2 Adopted at a meeting of the Jeffersonville Redevelopment Commission held March 28,2001, in the City-County Building, in the City of Jeffersonville, Clark County,Indiana. JEFJ ±RSONVILLE REDEVELOPMENT COMMISSION (1261/f. President / Vice-P�. ldent -sr/. Sec etary Me. -r Member /07.07 ATTEST: Secretary This instrument prepared by Thomas K_ Downs, Ice Miller, One American Square, Box 82001, Indianapolis,Indiana 46282. - 3 - 680100.1 • REDEVELOPMENT PLAN FOR THE REDEVELOPMENT AREA JEFFERSONVILLE REDEVELOPMENT COMMISSION Purpose and Introduction. This document is the Redevelopment Plan("Plan") for the Gateway Redevelopment Area ("Redevelopment Area")for the City of Jeffersonville,Indiana("City"). It is intended for approval by the Common Council,the Jeffersonville Plan Commission and the Jeffersonville Redevelopment Commission("Redevelopment Commission") in conformance with IC 36-7-14. Project Objectives. The purpose of the Plan is to benefit the public health and welfare of the citizens of the City. The Plan is designed to eliminate slum and blight at the intersection of Tenth and Spring Streets,one of two major entrances to the City of Jeffersonville and a feeder to a major thoroughfare to the eastern part of the City,which is experiencing both commercial and residential development. This project will eliminate the slum and blight at this intersection and provide for safe and smooth transition of traffic onto nearby interstate exchanges. Further, the plan will allow the following activities:condemnation,acquisition,clearance/demolition and remediation of underutilized parcels, relocation of a business and redevelopment of the cleared parcels. In addition to the above- mentioned activities, the City will also make street, sidewalk and lighting improvements as an extension of an overall streetscape improvement project that has already been undertaken along a 4 1/3 block stretch of Spring Street. The City will work with all interested private developers and local organizations,including Jeffersonville Main Street,Inc. and the Jeffersonville Downtown Merchants Association,to assure the best use and design of all redevelopment proposed for this Redevelopment Area to benefit all Jeffersonville citizens. Without the completion of this project,development at the Tenth&Spring Street intersection will continue to stagnate. The Spring Street Business District Revitalization Project relates closely with Jeffersonville's past and current planning efforts. The City of Jeffersonville is in the process of updating its Comprehensive Plan and Zoning Ordinances and this plan more closely reflects the development plans addressed in that document, as well as a 1996 Strategic Action Plan which was funded by a Community Planning Funds grant to guide Jeffersonville's downtown redevelopment efforts. Past efforts to acquire and rehabilitate commercial properties in the Redevelopment Area have been largely unsuccessful. Significant dilapidation and unrealistic asking prices have both dissuaded potential developers from acquiring and/or rehabilitating buildings in this Redevelopment Area for commercial use. 680095.1 • The City has also initiated the process to declare the Redevelopment Area blighted by meeting with citizens whose property or business currently falls in the Redevelopment Area to explain the meaning of this declaration. The City plans to complete the slum or blight declaration process and to begin the acquisition process by contracting for appraisals and negotiating options on all properties to be acquired before submitting the full application for grant funds. The City shall,to the extent feasible under IC 36-7-14, IC 36-7-25 and consistent with the needs of the City as a whole,afford a maximum opportunity for rehabilitation or redevelopment of the Redevelopment Area by private enterprise. The factual report attached to this Plan contains the supporting data for the above declared purposes of the Plan. Description of Redevelopment Area. The Redevelopment 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 Redevelopment Area is as follows: Intersection of Tenth and Spring Streets in the South Southwestern edge of the City's boundary as more fully set forth in Exhibit A to the Declaratory Resolution. Project Description. The redevelopment of the Redevelopment Area will proceed in three(3)phases, described as follows: Phase I: Acquisition Acquisition will proceed on those parcels where there is a willing seller. The City owns a small parcel behind the fireworks warehouse/abandoned gas station. Steps to acquire the remaining parcels will begin as soon as possible. Phase II: Clearance/Demolition Clearance/Demolition activities projected at this time are as follows: • A large hill,once used as a railroad overpass, will be razed. • A tire sales business will be relocated and the property cleared. • The abandoned gas station/fireworks warehouse will be razed. Phase III: Remediation Remediation will be required for the abandoned gas station. 680095.1 - 2 - Future Development and Redevelopment: Street, sidewalk and lighting improvements will be made in conjunction with one or more of the phases mentioned above, extending overall street scape improvements already being undertaken along Spring Street. Also, the Redevelopment Commission has received several proposals for the proposed redevelopment of the Redevelopment Area that involve commercial enterprises, specifically premium office space. specific List of Pro'ects in servin• •r benefittin• the Redevelo•ment Area "Pro'ects" . All acquisition; clearance/demolition; street, sidewalk and lighting improvements; and remediation listed above will be in, serving or benefitting the Redevelopment Area. Acquisition of Property. In order to accomplish the Projects,the Redevelopment Commission will attempt to acquire all of the interests in property located in the Redevelopment Area except 934 Spring Street (Walgreens), the owners of which are listed on Exhibit B to the Declaratory Resolution. The Redevelopment Commission will approve the price to be offered to the owner of each parcel. The price to be offered may not exceed the average of two (2) independent appraisals. However, if the real property is less 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 less than Ten Thousand Dollars($10,000),the second appraisal may be made by a qualified employee of the Department of Redevelopment. The prices indicated on the list may not be exceeded unless specifically authorized by the Redevelopment Commission or ordered by a court in condemnation proceedings. Whenever the Redevelopment Commission considers it necessary to acquire real property in the Redevelopment Area by the exercise of the power of eminent domain, the Redevelopment Commission will adopt a resolution setting out its determination to exercise that power and directing its attorney to file a petition in the name of the City on behalf of the Department of Redevelopment in the Circuit or Superior Court of Clark County. These eminent domain proceedings are governed by IC 32-11 and any other applicable statutory provisions for the exercise of the power of eminent domain. Procedures with respect to the Projects. In accomplishing the Projects, the Redevelopment Commission may proceed with the Projects before the acquisition of all interests in land in the Redevelopment Area. All contracts for material or labor in the accomplishment of the Projects shall be let under IC 36-1. 680095.1 -3 - 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 Commission shall proceed in the same manner as private owners of the property. The Redevelopment Commission may negotiate with the proper officers and agencies of the City to secure the proper orders, approvals, and consents. Any construction work required in connection with the Projects may be carried out by the appropriate municipal or county department or agency. The 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 Projects 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 Projects 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. 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 less 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 less than Ten Thousand Dollars ($10,000), 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 Projects. It is the intention of the Redevelopment Commission to issue bonds payable from incremental ad valorem property taxes allocated under IC 36-7-14-39 in order to raise money for property acquisition and completion of the Projects in the Redevelopment Area. The amount of these bonds may not exceed the total, as estimated by the Redevelopment Commission of all expenses reasonably incurred in connection with the Projects, including: 680095.1 -4- • _ (1) The total cost of all land, rights-of-way, and other property to be acquired and redeveloped; (2) All reasonable and necessary architectural,engineering,legal,financing,construction, equipment, accounting, advertising, bond discount and supervisory expenses related to the acquisition and development of the Projects or the issuance of bonds; (3) Interest on the bonds (not to exceed 5 years from the date of issuance) and a debt service reserve for the bonds to the extent the Redevelopment Commission determines that a reserve is reasonably required; and (4) Expenses that the Redevelopment Commission is required or permitted to pay under IC 8-23-17. In the issuance of bonds the Redevelopment Commission will comply with IC 36-7-14-25.1. As an alternative to the issuance of bonds or in conjunction with it, the Redevelopment Commission may enter into a lease of any property that could be financed with the proceeds of bonds under IC 36-7-14. The lease is subject to the provisions of IC 36-7-14-25.2 and IC 36-7-14-25.3. 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 Redevelopment Area. 680095.1 - 5 - • FACTUAL REPORT IN SUPPORT OF FINDINGS CONTAINED IN RESOLUTION NO. q 2000 OF THE JEFFERSONVILLE REDEVELOPMENT COMMISSION 1. The Gateway Redevelopment Area ("Redevelopment Area") is an area in which normal development and occupancy are undesirable or impossible because of lack of development, cessation of growth, deterioration of improvements, character of occupancy, age, obsolescence, substandard buildings, or other factors that impair values or prevent a normal use or development of property because of the significant dilapidation and unrealistic asking prices that dissuade potential developers from acquiring and/or rehabilitating buildings in this corridor. The Jeffersonville Department of Redevelopment has worked diligently to locate potential developers for this area only to fail because of potential environmental concerns and lack of cooperation with absentee landowners. 2. The planning,replanning, development, and redevelopment of the Redevelopment Area will benefit the public health, safety,morals and welfare for the following reasons: Beneficiaries of this project include ALL Jeffersonville citizens. However this project targets three groups most specifically: Downtown Business District property owners (including Clark Memorial Hospital), proprietors, and downtown Jeffersonville residents. Property owners will experience a significant increase in their net assessed valuation of their property,resulting from the elimination of slum and blight and the reuse of underutilized property in the project area. Proprietors may enjoy aesthetic improvements in this corridor resulting from positive property reuse and assorted street and streetscape improvements. Finally,residents will experience an increase in the personal property value when previously vacant and underutilized buildings are razed and real estate values increase. 3. The Plan for the Redevelopment Area cannot be achieved by regulatory processes or by the ordinary operation of private enterprise without resort to IC 36-7-14 (the redevelopment statute) for the following reasons: a. There is no regulatory process available to build the infrastructure or provide incentives to encourage the economic growth contemplated in the Plan. b. The cost of acquisition coupled with the cost to have the property razed and declared environmentally "clean" is not economically feasible for an outside developer. c. The complete lack of cooperation with the current landowners. 680095.1 4. The Redevelopment Area is a menace to the social and economic interest of the City and its inhabitants because the area has environmental concerns and is underutilized in its current state. The location of the area is in the main entrance corridor of the City of Jeffersonville and promotes the feeling of distaste and isolation upon entering. The City of Jeffersonville is currently in a state of growth and revitalization in all other areas of the City. This area has remained unchanged and continues to deteriorate. This area, because of its current state, is a deterrent to further development in our downtown corridor. 5. The Commission estimates that it will need to issue bonds or enter into a lease financing of approximately$7,000,000 to implement the Plan. 680095.1 -2 - • II AUG-25-00 14:29 From:ICE MILLER FL 30 A 13172362219 T-933 F-1T/24 Job-414 RESOLUTION NO. JEFFERSONVILLE COMMON COUNCIL APPROVING A DECLARATORY RESOLUTION AND REDEVELOPMENT PLAN OF THE REDEVELOPMENT COMMISSION OF JEFFERSONVILLE,INDIANA,AND APPROVING ORDER OF THE JEFFERSONVILLE PLAN COMMISSION WHEREAS, the City of Jeffersonville ("City") Redevelopment Commission ("Commission"), on the day of W at '2000, initially approved a Redevelopment Plan("Plan")for the [�s Q�, Q Redevelopment Area("Area")in the City and adopted a declaratory resolution initially declaring that the Area is a blighted area and subject to redevelopment activities pursuant to IC 36-7-14 and IC 36-7-25 ("Act"); and • WHEREAS,the Jeffersonville Plan Commission("Plan Commission")approved the Plan and Declaratory Resolution; and • WHEREAS the Act requires approval of the Declaratory Resolution and the Plan and the action of the Plan Commission by the Common Council of the City; NOW,THEREFORE,BE IT RESOLVED by the Common Council of the City,as follows: 1. The PIan for the Area is in all respects approved, ratified and confirmed by the Common Council. 2. The action of the Plan Commission approving the Plan and the Declaratory Resolution is in all respects approved,ratified and confirmed by the Common Council. 3. 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. 4. This Resolution shall be effective from and after passage and approval by the Mayor on the effective date of the Declaratory Resolution. 680100.I AUG-25-00 14:30 From:ICE MILLER FL 30 A 13172352219 1-933 P.18/24 Job-414 PASSED AtINID ADOPTED by the Common Council of the City of Jeffersonville,Indiana, this ,Q, day of Q('e k,o.�-- , 2000, by a vote of -ayes and 0 nays. COMMON COUNCIL OF THE CITY OF JEFFERSONVILLE,INDIANA 2;2 r � Q.Ou„v tom- 'arc 'tZ©n E tiS • ATTEST: CDORc Clerk reasurer Presented by me to the Mayor of the City of Jeffersonville this \C( day of co('o frt.. Q j -,2000 at A.'.o c7 o'clock. (1-)0 Clerk-Trrer S'gned and approved by me,the Mayor of the City ofJeffersonvillc on this I"6 day of ,2000 at o'clock. / /, /// • ayor 680100.1 -2- EXHIBIT"B" LEGAL DESCRIPTION RIM ", 101 • LEGAL DESCRIPTION The Land referred to in this policy is described as follows: TRACT ONE Parcel 1: All of Lot 1 as shown on Jeffersonville Gateway Final Plat—Phase I recorded in Plat Book 17, Page 61, Instrument No. 201819450, in the Office of the Recorder of Clark County, Indiana. Parcel 2: All of Lot 2 as shown on Jeffersonville Gateway Final Plat—Phase I recorded in Plat Book 17, Page 61, Instrument No. 201819450, in the Office of the Recorder of Clark County, Indiana. Parcel 3: All of Lot 3 as shown on Jeffersonville Gateway Final Plat—Phase I recorded in Plat Book 17, Rage 61, Instrument No. 201819450, in the Office of the Recorder of Clark County, Indiana. Parcel 4: All of Lot 4 as shown on Jeffersonville Gateway Final Plat—Phase I recorded in Plat Book 17, Page 61, Instrument No. 201819450, in the Office of the Recorder of Clark County, Indiana. TRACT TWO Parcel 1: All of Lot 5 as shown on Jeffersonville Gateway Final Plat—Phase 2 recorded in Plat Book 17, Page 62, Instrument No. 201819451, in the Office of the Recorder of Clark County, Indiana. Parcel 2: All of Lot 6 as shown on Jeffersonville Gateway Final Plat—Phase 2 recorded in Plat Book 17, Page 62, Instrument No. 201819451, in the Office of the Recorder of Clark County, Indiana. Parcel 3: All of Lot 7 as shown on Jeffersonville Gateway Final Plat—Phase 2 recorded in Plat Book 17, Page 62, Instrument No. 201819451, in the Office of the Recorder of Clark County, Indiana. Parcel 4: All of Lot 8 as shown on Jeffersonville Gateway Final Plat—Phase 2 recorded in Plat Book 17, Page 62, Instrument No. 201819451, in the Office of the Recorder of Clark County, Indiana. Parcel 5: All of Lot 9 as shown on Jeffersonville Gateway Final Plat—Phase 2 recorded in Plat Book 17, Page 62, Instrument No. 201819451, in the Office of the Recorder of Clark County, Indiana.