HomeMy WebLinkAbout1994-R-34RESOLUTION NO. 94-R-~__~---
RESOLUTION DESIGNATING AREA ECONOMIC
REVITALIZATION AREA, ALLOWING TAX ABATEMENT AND APPROVING
STATEMENT OF BENEFITS FORPURPOSES OF PROPERTY TAX ABATEMENT
WHEREAS, Koetter Woodworking, Inc., (Applicant) has petitioned
the Common Council, city of jeffersonville, Indiana, for an
abatement of personal property taxes to be assessed on equipment
to be installed on property located in jeffersonville, Clark
County, Indiana;
WHEREAS, Applicant has submitted a Statement of Benefits on
the form prescribed by the Ihdiana state Board of Tax Commissioners
for such purpose, which statement includes a description of the
proposed development, 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;
WHEREAS, the Common Council for
recognizes the need to stimulate growth
economy in the incorporated area of the
jeffersonville, Indiana
and to maintain a sound
City of jeffersonville,
under the jurisdiction of the city Council of jeffersonville,
Indiana;
WHEREAS, certain area~ of the city are undesirable for, and/or
impossible of, normal development and occupancy, because of a lack
of normal development, cessation of growth, deterioration of
improvements or character of occupancy, age, obsolescence or other
factors which have impaired values or prevented a normal
development of property or use of property;
WHEREAS, the jeffersonville City Council now determines that
the area where 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
WHEREAS, the jeffersonville City Council has reviewed the
Statement of Benefits submitted herein, and attaches and incorpor-
ates that Statement to this Resolution.
NOW BE IT RESOLVED that the area described on attached Exhibit
"A", be and is hereby designated as an Economic Revitalization
Area.
BE iT FURTHERRESOLVED by the jeffersonville City Council- that
it speclflcal Y 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
o
4 o
Applicant.
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 Re reasonably expected to result from the
proposed describe redevelopment or rehabilitation.
' t
That all other ilnformati°n requested from Appllcan 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 jeffersonville city Council
hereby approves the Petition for Designation of Economic
Revitalization Area and the Statement of Benefits filed, and
presented by Applicant and that said Applicant shall be entitled to
deductions for a period of ten (10) years for new manufacturing
equipment, pursuant to the provisions of I.C. 6-1.1-12.1-4.5-
SO RESOLVED this J~,- day of December, 1994.
j~onvllle City Council
city of jeffersonville, Indiana
Presented to
1994.
me
and approved this _/~ day of ~,
~ ~. Parker l ., Mayor
City of jeffersonville, Indiana