HomeMy WebLinkAbout2005-R-35 RESOLUTION NO. 2205-R-
RESOLUTION APPROVING STATEMENT OF BENEFITS FOR
PURPOSES OF PROPERTY TAX ABATEMENT
WHEREAS, Heartland Payment Systems, has petitioned the Common Council o£
thc City of ~Icffersonville, Indiana, for a deduction in real property taxes to be assessed on
proposed improvements to be made in the North Port Technology Park, located in the
City of J¢ffersonville, Clark County, Indiana; and
WHEREAS, Heartland Payment Systems, 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 thc
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 thc value of the
redevelopment; and
WHEREAS, the Common Council of the City of Icffcrsonville has previously
determined that the area in which the proposed redevelopment project is located in the
City 0f Ieffcrsonvill¢ qualifies as an economic revitalization area pursuant to Indiana
code 6-1.1-12.1, ct seq., and Resolution 97-R-14; and
WHEREAS, thc Common Council has reviewed the Statement of Benefits submitted
herein, and attaches and incorporates the Statement of Benefits submitted herein, and
attaches and incorporates the Statement to this Resolution.
NOW, THEREFORE, BE IT RESOLVED by thc Common Council of the City of
Jeffersonvill¢, Indiana, that it specifically and affirmatively finds as follows:
That the estimate ~f the value of redevelopment or rehabilitation is reasonable for
projects of the nature described in the Statement of Benefits submitted by the
company.
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.
That all other information requested from Heartland Payment Systems, 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 FURTItER RESOLVED, that the Common Council of the City of
Jeffersonville, Indiana, hereby approves the application for deduction presented
by the Statement of Benefits filed by Heartland Payment Systems and that said
company shall be entitled to deductions for a period of ten (10) years for
improvements to real property, pursuant to the provisions of I.C. 6-1.1012-3(d)
and I.C. 6-1.1012.1-4(d)(3), commencing with the 2007 real estate taxes payable
in 2008 for a 120,000 square foot facility. This facility will primarily be made up
of Class A office space but Will have approximately 27,000 square feet dedicated
to Heartland Payment Systems' state of the art deployment functions. The