HomeMy WebLinkAbout2023-2 (Approving Amending Declaratory of Redevelopment) CITY OF JEFFERSONVILLE PLAN COMMISSION
ORDER APPROVING AMENDING DECLARATORY RESOLUTION
OF THE JEFFERSONVILLE REDEVELOPMENT COMMISSION
NO.
WHEREAS, Jeffersonville(City) Redevelopment Commission (Commission) is the
governing body of the Jeffersonville Redevelopment District (Redevelopment District)
established and operating in accordance with IC 36-7-14 and IC 36-7-25 (the Act);
WHEREAS, the Commission has previously adopted and confirmed resolutions
(collectively, the Declaratory Resolution),which established an area in need of
redevelopment to be known as the Falls Landing Riverfront Redevelopment (Area),
designated the Area as the Falls Landing Allocation Area for the purposes of section 39
of the Act (Original Allocation Area), and approved and amended a plan for the
redevelopment of the Area (Plan), all in accordance with the Act;
WHEREAS, on October 25, 2023, the Commission adopted an Amending Declaratory
Resolution (2023 Declaratory Resolution) to: (i) remove certain parcels from the Original
Allocation Area(Removed Allocation Area): (ii)to designate the Removed Allocation Area
as a new allocation area; and (iii) amend the Original Plan to provide for additional
infrastructure to support commercial and residential development (Amended Plan);
WHEREAS, IC 36-7-14-16 requires the Commission to submit the 2023
Declaratory Resolution, the Amended Plan, and supporting data to the Jeffersonville Plan
Commission (Plan Commission); and
WHEREAS, the Plan Commission may; (i) determine whether the 2023
Declaratory Resolution and the Amended Plan conform to the plan of development for
the City; and (ii) and approve or disapprove the 2023 Declaratory Resolution and
Amended Plan;
NOW, THEREFORE, BE IT ORDERED BY THE JEFFERSONVILLE PLAN
COMMISSION, THAT:
Section 1. The Plan Commission hereby finds and determines that the 2023
Declaratory Resolution and the Amended Plan, attached hereto as Exhibit A, conform to
the plan of development for the City.
Section 2. The Plan Commission hereby approves the 2023 Declaratory
Resolution and the Amended Plan.
Section 3. This Order is effective from and after adoption.
Adopted by the Jeffersonville Plan Commission this 28th day of November 2023.
JEFFERSONVILLE PLAN
COMMISSION
tIALL4 MCL �.
President
EXHIBIT A
Declaratory Resolution, Plan and Factual Report
RESOLUTION NO. 2023-R-
BEFORE THE JEFFERSONViLLE REDEVELOPMENT COMMISSION
STATE OF iNDIANA
RESOLUTION AMENDING THE RESOLUTION OF THE JEFFERSONVILLE
REDEVELOPMENT COMMISSION ENTITLED"DECLARATORY RESOLUTION OF
THE JE(FFERSONVILLE REDEVELOPMENT COMMISSION"
WHEREAS,Jeffersonville(City)Redevelopment Commission(Commission)is the
governing body of tie Jeffersonville Redevelopment District (Redevelopment District)
established and operating In accordance with iC 36-7-14 and IC 36-7-25 (the Act);
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WHEREAS, the Commission has previously adopted and confirmed resolutions
(collectively, the Declaratory Resolution) which established an area In need of
redevelopment(Area)to be known as the Falls Landing Riverfront Redevelopment Area,
designated the Area* the Falls Landing Allocation Area for the purposes of section 39
of the Act (Originar,;Allocation Area), and approved and amended a plan for the
redevelopment of th4 Area (Plan), all in accordance with the Act;
WHEREAS, the Commission has outstanding certain: (i) Tax Increment Revenue
Bonds of 2013,Serles;A(SeriesA Bonds);and(II)Tax Increment Revenue Bonds of 2013,
Series C(Series C Bonds)
WHEREAS,the bond resolutions authorizing the Series A Bonds and the Series C
Bonds (collectively, qutstanding Obligations) allow alteration of the Allocation Area if, in
the Judgment of the 0ommission, the alteration does not: (i)adversely affect the owners
of the Outstanding O ligatlons; or(ii) impair the pledge of Tax Increment (as defined in
the bond resolutions p the Outstanding Obligations;
WHEREAS, the Commission now desires to amend the Declaratory Resolution to
reduce the Allocation1Area by removing certain parcels/area from the Allocation Area as
shown on the map attached hereto as Exhibit A (Removed Area) and designate the
Removed Area as a ;Separate allocation area pursuant to section 39 of the Act, to be
known as the Riverview Allocation Area;
WHEREAS, the Original Allocation Area, as reduced, shall retain the same base
assessment date as t?e original allocation area;
WHEREAS, sections 15 through 17.5 of the Act establish the procedures for
adopting amendments to the Declaratory Resolution and Plan; and
WHEREAS, th`e Commission now desires to approve the amendment to the
Declaratory Resolution-, the reduction of the Original Allocation Area, and the designation
of the Riverview Allocation Area(2023 Amendment);
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WHEREAS, the Commission has caused to be prepared a factual report(Report)
in support of the findings contained in this resolution,which Report is attached hereto and
incorporated herein by reference in this resolution;
NOW, THEREFORE, BE IT RESOLVED BY THE JEFFERSONVILLE
REDEVELOPMENT'COMMISSION:
1. The Com fission finds and determines that It will be of public utility and benefit
to amend Declaratory Resolution as provided in the 2023 Amendment.
2. The Commission finds that: (I) the current captured assessed value in the
Original Allocation Area Is $138,841,732.00 and the current estimated tax
increment ilevenue from the Allocation Area Is $3,503,390.00; (II)the captured
assessed value in the Original Allocation Area Is $136,539,942.00 and the
estimated tax Increment is $3,495,350.00 after the 2023 Amendment; (Ili)the
Outstanding Obligations have a pledge of Tax Increment generated In the
Original Allocation Area; (iv) the Tax Increment estimated to be generated in
the Original Allocation Area exceeds 125% of the debt service due on the
Outstanding Obligations after the 2023 Amendment; and (v) additional growth
In the Original Allocation Area subsequent to the issuance of the Outstanding
Obligations has occurred and, therefore, the Commission finds that reducing
the Origlnil Allocation Area will not adversely affect the owners of the
Outstanding Obligations in any material way.
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3. The Origlniat Allocation Area, as reduced, shall maintain its original base
assessment date.
4. The Riverview Allocation Area shall have a base assessment date of January
1,2023. !I
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5. The 2023 Amendment is reasonable and appropriate when considered in
relation to tthe Declaratory Resolution, the Plan (attached hereto), and the
purposes of the Act.
6. in support of the findings and determinations set forth in this Resolution the
Commission hereby adopts the specific findings set forth In Exhibit B.
7. The Commission finds that no residents of the Area will be displaced by any
project resulting from the 2023 Amendment and therefore finds that it does not
need to give consideration to transitional and permanent provision for adequate
housing. j
8. This paragraph shall be considered the allocation provision for the Original
Allocation area and the Riverview Allocation Area for purposes of section 39 of
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the Act. The Original Allocation Area shall constitute an allocation area as
defined In section 39 of the Act. The Original Allocation Area was established
before JulJullii 1, 1995,and the expiration of the Original Allocation Area is January
15, 2032, the last date of any obligations that are outstanding on July 1, 2015,
pursuant to section 39(b) of the Act. The Riverview Allocation Area Is
established after June 30, 2008, and the Riverview Allocation Area shall expire
no later th n twenty-five years after the date on which the first obligation is
incurred to�payable from tax Increment revenues generated In the Riverview
Allocation#rea.
9. The Commission hereby finds that the creation of the Original Allocation Area
and the Riverview Allocation Area will result in new property taxes that would
not have been generated but for the adoption of the new allocation provisions
and amendment as specifically evidenced by the findings set forth in Exhibit B
attached hereto.
10.The Commission hereby authorizes and directs the presiding officer, after
receipt of the written order of approve of the Jeffersonville Plan Commission
and the approval of the order by the Jeffersonville Common Council,to publish
notice of tie adoption and substance of this Resolution in accordance with IC
5-3-1-2 and IC 5-3-1-4 and to file notice with the Plan Commission,the Board
of Zoning /appeals, the building commissioner and any other departments of
agencies of the City concerned with unit planning, zoning variances, land use
or the Issuance of building permits. The notice must state that original maps
and plats have been prepared and can be Inspected at the office of the City's
departmenrj of redevelopment and must establish a date when the Commission
will receive and hear and remonstrances and objections from persons
Interested in or affected by the proceedings pertaining to the proposed 2023
Amendment, and will determine the public utility and benefit of the proposed
2023 Amendment, Copies of the notice must also be filed with the officers
authorized to fix budgets,tax rates,and tax levies under IC 6-1.1-17-3 for each
taxing unit tpat Is either wholly or partly located within the Allocation Area or the
Riverview Allocation Area.
11. The Commission also directs the presiding officer to prepare or cause to be
prepared al;statement disclosing the impact of the creation of the Original
Allocation 1ea and the Riverview Allocation Area, including the following:
a. The estimated economic benefits and costs incurred, as measured by
increased employment and anticipated growth of real property, personal
prop rty and inventory increased values; and
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b. The;anticipated Impact on tax revenues of each taxing unit that is either
wholly or partly located within the Original Allocation Area and the
Riverview Allocation Area.
A copy of this statement shall be filed with each such taxing unit with a copy of the
notice required under section 17 of the Act at least ten days before the date of the
hearing described in Section 10 of this Resolution.
12. The presiding officer is authorized and direct to submit this Resolution to the
Plan Commission for Its approval. The Commission further authorizes and
directs the presiding officer to submit this Resolution and the approving order
of the Plan.Commission to the Common Council for its approval of the 2023
Amendment.
13.The Declaratory Resolution, as amended by this Resolution, conforms to the
comprehensive plan for the City.
14. In all other respects, the Declaratory Resolution, as amended, and actions of
the Commission consistent with this Resolution are hereby ratified and
confirmed.
15.This Resolution shall be effective upon passage.
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Adopted this 25th day of October, 2023.
JEFFERSONVILLE REDEVELOPMENT
COMMISSION
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EXHISITA
(MAP OF REMOV D AREA AND PARCELS CONSISTING OF REMOVED AREA)
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' -ARCELS CONSITI'NG OF REMOVED AREA:
• 10-19-00-100-093.000-010
• 10-19-00-100-094.000-010
• 10-19-00-100-095.000-010
• 10-19-00-102-975.000-010
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EXHIBIT B
FINDINGS AND PLAN
1. The creation file Allocation Area will:
(A) Mow for local public road and sewer improvements;
(B) Assist it the development of nearby land;
(C) Provide for future residential and commercial development In the Allocation
Area;and
(D) Allow reimbursement of$2 million In infrastructure improvements made in
the Allocation Area by the city's wastewater utility.
2. The Plan will benefit the public health and welfare of City residents by: Improving
public ways and sewers.
3. The Plan will result in new property taxes in the Redevelopment Project Area that
would not have been generated but for the adoption of the allocation provision due to:the
lack of development on the property.
4. The Plan cannot be achieved by regulatory processes or by the ordinary operation
of private enterprise v4thout resort to,and but for,the powers allowed to the Commission
due to:the lack of local public road and sewer improvements,the existence of conditions
that tower the value of the land below nearby land and the lack of public facilities needed
for potential industrial,and commercial development to be realized.
5. The accomplishment of the Plan will be of public utility and benefit as measured
by: making certain public infrastructure Improvement to assist In the development of
property for residential and/or commercial use.
6. The adoption of the allocation provision will result in new property taxes in the
Redevelopment Project Area that would riot have been generated but for the adoption of
the allocation provision due to: redevelopment of the land will generate new tax revenue.
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