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HomeMy WebLinkAbout2002-R-1 6P Shirley Nolot : RK COUNTY RECORDER Clark County Recorder 1200233280 Page 1 of 6 Cl Date 12/30/2002 Time 14:54:39 RESOLUTION NO. - /C—D/ RESOLUTION AMENDING THE RESOLUTION OF THE JEFFERSONVILLE REDEVELOPMENT COMMISSION ENTITLED "DECLARATORY RESOLUTION OF THE JEFFERSONVILLE REDEVELOPMENT COMMISSION" WHEREAS, the Jeffersonville("City") Redevelopment Commission ("Commission")did on April 27, 1982 adopt a declaratory resolution("Declaratory Resolution") establishing the Falls Landing Riverfront Development Area("Area") and the Declaratory Resolution was confirmed by a Confirmatory Resolution adopted on May 26, 1982; WHEREAS, the Declaratory Resolution approved the Redevelopment Plan("Plan") which Plan contained specific recommendations for redevelopment in the Area; WHEREAS, the Declaratory Resolution established an allocation area in accordance with IC 36-7-14-39 ("Allocation Area") for the purpose of capturing property taxes generated from the incremental assessed value of real property located in the Allocation Area; WHEREAS,the Commission now desires to amend the Declaratory Resolution to enlarge the Area and Allocation Area by the adoption of approximately 88 acres of real .•. estate as set forth in Exhibit A("Expanded Area"); WHEREAS, the proposed enlargement is less than 20% of the original Area and Allocation Area; WHEREAS,the real property base assessment date of the Expansion Area will be March 1, 2002; WHEREAS, the real property base assessment date of the original Area and Allocation Area will remain March 1, 1982; WHEREAS, the Commission has entered into a lease, date June 28, 2000,("Lease") with the Jeffersonville Redevelopment Authority under which lease rentals are secured in part by tax increment revenues collection in the Allocation Area; WHEREAS, IC 36-7-14-17.5 authorizes the Commission to amend the Declaratory Resolution, after conducting a public hearing, if it finds that: 1. The amendment is reasonable and appropriate when considered in relation to the Declaratory Resolution and the Plan and the purposes of IC 36-7-14; and 2. The Declaratory Resolution and the Plan, with the proposed amendment, conform to the comprehensive plan for the City; — WHEREAS, on December 7, 2002, the Commission published notice of the substance of a proposed amendment to the Declaratory Resolution in accordance with IC 36-7-14-17.5 and IC 5-3-1, which notice also gave notice of a hearing on the proposed amendment to be held by the Commission; and notice to neighborhood associations and property owners in the proposed enlarged area; and WHEREAS, the Commission on December 19, 2002, conducted, 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 Declaratory Resolution is hereby amended to enlarge the boundaries of the Area and the Allocation Area by approximately 88 acres as set forth in Exhibit.A. The real estate described in Exhibit A is less than 20% of the size of the original Area. 2. The Commission now finds and determines that the amendment described in Sectiorii 1 is reasonable and appropriate when considered in relation to the Declaratory Resolution and the Plan and to the redevelopment and economic development purposes set forth in IC 36-7-14. The Commission further finds that theamendment will not adversely affect the owners of the bonds secured by the Lease. 3. The Declaratory Resolution and the Plan, with the proposed amendment, conform to the comprehensive plan for the City. 4. This paragraph shall be considered the allocation provision for the Expanded Area for the purposes of IC 36-7-14-39. The Expanded Area shall have a real property base assessment date of March 1, 2002. Any property taxes levied on or after the effective date of this resolution by or for the benefit of any public Jody entitled to a distribution of property taxes on taxable property in the Expanded Area shall be allocated and distributed in accordance with IC 36-7-14-39 or any applicable successor provision. This allocation provision for the Expanded Area shall expire no later than 30 years after the effective date of this resolution. 5. The Secretary is hereby directed to record this resolution with the Clark CountyRecorder, immediately to notify the Department of Local Government Finance of the expansion of the Allocation Area and the Area and to file this resolution with the Clark County Auditor. • 6. In all other respects,the Declaratory Resolution and Plan are hereby ratified and confirmed. 11 7. This resolution is effective upon passage. ram"1 1j. II Adopted at a meeting of the Jeffersonville Redevelopment Commission held December 19, 2002, at 501 E. Court Avenue.,Jeffersonville, Indiana. JEFFERSONVILLE REDEVELOPMENT COMMISSION B ' A 0, • 1, •obert. . Campbell, I Pres'iii ATTEST: 1 IrI! .i %Nathan Samuel, Secretary II • i 1 I 1 1 ; ; JULY 10, 2002 Revised: December 18, 2002 DESCRIPTION OF AN EXPANSION TO THE FALLS LANDING REIVERFRONT DEVELOPMENT PROJECT AREA A description of an expansion to the Falls Landing Riverfront Development area which is recorded at the Clark County Recorders Office in Misc. Drawer 14,Instrument No. 5442 and bounded as follows: Beginning at a point in the existing Falls Landing Riverfront Development area boundary, said point being at the intersection of the northern right-of-way line of Riverside Drive and the eastern right-of-way line of Watt Street; thence in a northerly direction along said eastern right-of-way line of Watt Street to its intersection with the northern right-of-way line of Chestnut Street; thence in a western direction along said northern right-of-way line of Chestnut Street to its intersection with the western right-of- way Iine of Mulberry Street; thence in a northern direction with said western right-of-way line of Mulberry Street to a point in the existing boundary of the Falls Landing Riverfront /"\ Development area. This expansion contains approximately 88 acres of land.