HomeMy WebLinkAbout2014-R-5BEFORE THE COMMON COUNCIL
FOR THE CITY OF JEFFERSONVILLE, INDIANA
RESOLUTION NO. 201i R- 6
RESOLUTION APPROVING STATEMENT OF BENEFIT FOR
PROPOSED REAL PERSONAL PROPERTY TAX ABATEMENT
WHEREAS, Menard, Inc., petitioned the Common Council of the City of
Jeffersonville, Indiana, for a deduction in real property taxes to be assessed on a proposed
redevelopment of property, including the construction and buildings and related
improvements, to be generally located at the northeast comer of Veterans Parkway and
Jeffersonville Town Center located in the City of Jeffersonville, Clark County, Indiana;
and
WHEREAS, Menard, Inc., 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 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; and
WHEREAS, the Common Council of the City of Jeffersonville has previously
determined that the area in which the proposed redevelopment project is located in the
City of Jeffersonville qualifies as an economic revitalization area pursuant to Indiana
Code 6-1.1-12.1-5, et seq.; and
WHEREAS, the Common Council of the City of Jeffersonville has previously
designated that the area in which the proposed redevelopment project is located as an
Economic Development Target Area pursuant to Indiana Code 6-1 .1-12.1-7, et seq.;
WHEREAS, the Redevelopment Commission of the City of Jeffersonville has
made a favorable recommendation for approval of the Statement of Benefits; and
WHEREAS, the Common Council has reviewed the Statement of Benefits and its
attachment "A" submitted herein, and attaches and incorporates the Statement of Benefits
submitted herein, and attaches and incorporates the attachment "A" to this Resolution.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City
of Jeffersonville, Indiana, that it specifically and affirmatively find as follows:
1. That the estimate value of the qualifying real estate improvement of $9,000,000 is
reasonable for projects of the nature described in the Statement of Benefits
submitted by the company. However, this section does not establish $9,000,000,
or any other amount, as a minimum assessment for the redevelopment.
2. That the estimate of the number of 50 individuals who will be employed can
reasonably be expected to result from the proposed described redevelopment or
rehabilitation.
3. That the estimate of the cumulative annual salaries of $2,000,000 for those
individuals who will be added can be reasonably expected to result from the
proposed described redevelopment or rehabilitation.
4. That the taxes lessened from the granting of this abatement shall be for
qualifying real estate improvements to property, with a maximum
abatement value of $9,000,000.00. This section does not establish
$9,000,000, or any other amount, as a minimum assessment for the
redevelopment.
5. That all other information requested from Menard, Inc., has been submitted, and
the benefits described in such information can be reasonably expected to result
from the proposed described redevelopment.
6. That the totality of benefits for said redevelopment is sufficient to justify the
deduction.
BE IT FURTHER 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 Menard, Inc., and that said company shall be entitled to
deduction for a period of TEN (l 0) years for improvements to real property in
accordance with the attached Abatement Schedule Exhibit, pursuant to provisions of
I.C. 6-1.1-12.1-3(d), with the timely filing and perfection thereof with the Clark County
Auditor's office.
This Resolution shall be in full force and effect from and after its passage and
approval.
Passed this day of JMOJA_ , 2013.
VOTED FOR:
VOTED AGAINST:
Passed and adopted by the Common Council Rf the City of Jeffersonville, Clark
County, Indiana on this w day oftnaJ i-- 20
Dennis Julius, Co i President
and
Presiding Of cer
Vicki Conlin, Clerk
Presented by me as Clerk o the Mayor of said City of Jeffersonville this /
Day of`'pi�%►� ,20 J
Ltd
Vicki Conlin, Clerk
This Resolution approved and signed by me this C94
20\4
Mike Mo re, Mayor
This Resolution vetoed by me this __ day of
20
Mike Moore, Mayor