HomeMy WebLinkAbout2006-R-47A
1 RESOLUTION NO. 2006-R- l\ r""{
2
3 BEFORE THE COMMON COUNCIL
4 FOR THE CITY OF JEFFERSONVILLE
5 IN THE STATE OF INDIANA
6
7 A RESOLUTION FORGIVING FUNDS OWED BY REDEVELOPMENT
8 COMMISSION REGARDING CITY HALL PROJECT
9
10 WHEREAS, the Common Council for the City of Jeffersonville. (hereinafter called
11 "Council") is the fiscal body for the City of Jeffersonville;
12
13 WHEREAS, the Council sold the city's equity interest in the City-County Building for the
14 approximate sum of $1.5 million;
15
16 WHEREAS, these funds were deposited with the Redevelopment Commission for the City
17 of Jeffersonville (hereinafter called "Commi~sion");
18
19 WHEREAS, the Commission expended these funds to purchase the property formerly called
20 the Quadrangle and entered into a partnership agreement with a private developer, Sun Properties, to
21 redevelop the property;
22
23 WHEREAS, the Commission purchased the property with the intention to construct a city
24 hall at the location;
25
26 WHEREAS, the Commission entered into negotiations with Sun Properties whereby the
27 Commission purchased the old Quartermaster Depot building located in the center of the property
28 formerly called the Quadrangle (see attached Exhibit "A");
29
30 WHEREAS, the purchase of the old Quartermaster Depot was done for sole purposes of
31 developing the historic building into a city hall for the City of Jeffersonville;
32
33 WHEREAS, the Commission financed, in part, the development of the city hall with Tax
34 Increment Financing (TIF) district bonds;
35
36 WHEREAS, the proceeds from the. sale of the city's equity in the city-county building was
37 done with the intention of using the proceeds for new city offices;
38
39 WHEREAS, the Council recognizes that the proceeds from the sale of the city's equity
40 should be repaid to the General Fund;
41
42 WHEREAS, the Council now desires to forgive the approximate $1.5 million owed the
43 General Fund since the proceeds have been used for their intended purpose was to construct a city
44 hall;
Page 1 of3
1
2
3
4
5
6
7
8
9
10
11
1~
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
WHEREAS, the City has previously purchased the property called the River Falls Motel and
Lounge as a separate redevelopment project at which time was transferred to the Commission to
effectuate said redevelopment;
WHEREAS, the River Falls Motel and Lounge was purchased by the city with Economic
Development Income Tax (EDIT) funds appropriated from the Council;
WHEREAS, the Commission pursuant to Resolution No. I agreed to repay
the Council those EDIT funds expended for the purchase of the River Falls Motel and Lounge;
WHEREAS, the Council desires to forgive the approximate $275,000 owed by the
Commission to the EDIT fund since it believes it would be in the best interest that these proceeds
should remain with the Commission;
NOW, THEREFORE, BE IT RESOLVED, by the Council, that it hereby forgives the
approximate $1.5 million owed by the Commission, which represents the city's equity in the City-
County Building.
IT IS FURTHER RESOLVED, by the Council that it hereby forgives the approximate
$275,000 owed by the Commission, which represents the EDIT funds expended for the purchase of
the River Falls Motel and Lounge.
IT IS FURTHER RESOLVED, by the Commission that this forgiveness is contingent upon
the following:
1. The. Commission adopting a resolution transferring its title and interest in the City
Hall (legal description in attached Exhibit "A") to the Jeffersonville Building Authority; and
2. The execution of the attache<i Memorandum of Understanding.
Passed and adopted by th*ommon Council for the City of Jeffersonville, Clark County,
Indiana on this ~ day of vcffi'h-Lr , 2006 .
Page 2 of3
ATTEST:
~"~
Peggy Wild~
Clerk- Treasurer
\\
Presented by me as Clerk and Treasurer to the Mayor of said City of Jeffersonville this
day of OCJco Co r ,2006 at (0 '" \0 p.m..
Q$~
Peggy WI e
Clerk and Treasurer
I _ ' . p-pproved and signed by me this ~ day 0
U(-(:) ~m.
, 2006 at
Page 3 of3
DavidR. Blankenbeker, P.L.S.
Terry A. KendaJ.1. P.L.S.
Howard R BIankenbek:er (19(
RollynH. BImkenbeker (193
Blankenbeker & Son
Land Surveyors Ine, P.C.
Established 1945
422 Meigs Avenue
Jeffersonville, Indiana 47130
(812) 282-4183 phone
(812) 282-4197 fax
P.O. Box 157
Jeffersonville, Indiana 4.713
JUNE 30, 2005
DESCRIPTION OF 3.128 ACRES IN THE CITY OF JEFFERSONVILLE
Being part of JefIerson Square, part of Blocks 120, 121, and 124, part of Meigs Avenue, and part 0
Eleventh Street in the City of Jeffersonville,Clark County, Indiana and being further described as follows:
Beginning at a railroad spike on the west corner of said Jefferson Square, same being the eastern
intersection of Watt Street and TwelfthStreet; Thence N5So42~. along the southeast Right-of-Way line oj
Twelfth Street, 432.6 feet; Thence S.31 o05'57"E., 203.49 feet; Thence N.58054'03"E., 2.46 feet to a railrc
spike on The TRUE PLACE OF BEGINNING;
Thence N.80"39'05"E., 149.8 feet to a railroad spike;
Thence S.71 0 14'14"E., 93 feet to a railroad spike;
Thence S.45054'26"E., 109.71 feet a railroad spike;
Thence S.32057'08"E., 137.65 feet a railroad spike;
Thence S.59"32'OI "W., 125.68 feet a railroad spike;
Thence S.33012'OI "W., 78.07 feet a railroad spike;
Thence S.60033'20''W., 83.36 feet a railroad spike;
Thence N.4031'56"W., 35.68 feet to a steel pin;
Thence S.S8042'IS"W., 52.42 feet to a steel pin;
Thence N.3FOO'46"W., 9.77 feet to a steel pin;
ThenceN.58033'33"E., 15.67 feet to a steel pin;
Thence N.30059'18''W., 14.26 feet to a steel pin;
Thence N.13032'32"E., 14.7 feet to a steel pin;
Thence N.32043'15"W., 24.86 feet to a steel pin;
Thence N.75004'19''W., 14.38 feet to a steel pin;
Thence S.58026'52"W., 22.04 feet to a steel pin;
Thence S.36007'52"W., 81.41 feet a railroad spike;
Thence S.69007'45"E., 87.37 feet a railroad spike;
Thence S.6015W., 55.79 feet a railroad spike;
Thence N.72024'06"W., 92.97 feet a railroad spike;
Thence N.46022'20"W., 113.37 feet a railroad spike;
page 1 of2
Thence N. 17009'01 "W., 115.46 feet a railroad spike;
Thence N.9014'10''E., 92.4 feet a railroad spike;
Thence N.37040119"E., 152.2 feet to The TRUE PLACE OF BEGINNING
Containing 3.128 acres, and being subject to all legal highways and easements of record.
c:\...\18188Dl.wpd
page 2 of2
.,~...