HomeMy WebLinkAbout1990-R-46 RESOLUTION NO. 90-R-~
RESOLUTION WAIVING STATEMENT OF BENEFITS AND GRANTING TAX
ABATEMENT TO THE RIVERPOINTE REDEVELOPMENT PROJECT
WHEREAS, the Common Council of the City of Jeffersonville,
Indiana has adopted Ordinance No. 90-OR-~ thereby creating
an Economic Development Target Area (hereinafter referred to as
the "Area") pursuant to the provisions of I.C. 6-1.1-12.1-7,
which designation was further based upon the recommendation of
the Jeffersonville Economic Development Commission; and,
WHEREAS, the Common Council of the City of Jeffersonville,
Indiana, has declared this same geographic territory in the
City of Jeffersonville to be an Economic Revitalization Area
(again, hereinafter referred to as the "Area") pursuant to the
provisions of I.C. 6-1.1-12.1 et seq., by virtue of having
adopted Resolutions 90-R-44 and 90-R-~, and having properly
steps established by Indiana law to adopt the
followed the
same; and,
WHEREAS, the Ohio Riverside Development Corporation, which
has proposed a certain redevelopment project commonly known as
The RiverPointe, within the Falls Landing Riverfront
Development Project Area as such project has been adopted by
the Jeffersonville Redevelopment Commission and is now recorded
in Condominium Plat Book No. 1, as Instrument No. 4315, in the
office of the Recorder of Clark County, Indiana, has requested
the Common Council of the City of Jeffersonville to grant these
necessary designations to allow tax abatement for all
improvements to real property in said project area for a period
Of ten (10) years as established by I.C. 6-1.1-12.1-3(d) and
.C. 6-1.1-12.1-4(d)(3) for each respective improvement and
tructure developed within the project; and,
WHEREAS, the Common Council of the City of Jeffersonville
as requested and entertained evidence at public hearings in
hich it has become reasonably convinced that the Ohio
Riverside Development Corporation will invest well in excess of
$100 million in private development and construction costs over
approximately the next five (5) years for a full realization of
the mixed use development project;
WHEREAS, the
provided in I.C.
abatement for all
and,
utilization of the Statement of Benefits as
6-1.1-12.1-3 for formal approval of tax
real property improvements in this project
area will be cumbersome and perhaps unworkable in the judgment
of the Common Council of the City of Jeffersonville, Indiana;
and,
WHEREAS, Indiana Code 6-1.1-12.1-5.8 was added by the
Indiana Legislature in emergency legislation being retroactive
to January 1, 1990, which statutory section provides as
follows: "In lieu of providing the statement of benefits
required by Section 3 or 4.5 of this chapter and the additional
information required by Section 5.1 or 5.6 of this chapter, the
designating body may, by resolution, waive the statement of
benefits if the designating body finds that the purposes of
this chapter are served by allowing the deduction."
NOW, THEREFORE BE IT RESOLVED by the Common Council of the
City of Jeffersonville that it does hereby find that allowing a
deduction for the entire RiverPointe redevelopment project
contained within the Economic Revitalization Area and the
Economic Development Target Area previously established by the
Common Council of the City of Jeffersonville, is consistent
with the purposes of I.C. 6-1.1-12.1 et seq. For informational
purposes the Common Council of the City of Jeffersonville
hereby incorporates the proposed redevelopment plan of the Ohio
Riverside Development Corporation for the entire project which
is attached hereto as Exhibit "A". Under the specific terms of
this resolution, it is the intent of the Common Council of the
City of Jeffersonville to grant tax abatement for the maximum
period of ten (10 years under I.C. 6-1.1-12.1-3(d) and I.C.
6-1.1-12.1-4(d)(3) for all improvements made to real property
within the established Economic Development Target Area and
Economic Revitalization Area by the Ohio Riverside Development
Corporation, its successors or assigns. By the terms of this
resolution, the Common Council of the City of Jeffersonville
hereby gives its consent for deduction from real property taxes
as established by Indiana law for each such improvement within
the project including, but not limited to, the anticipated
improvements as described in Exhibit "A" attached hereto, and
all other improvements constructed in the Area as approved by
the Jeffersonville Redevelopment Commission.
Passed and adopted this ~__~ day of ~, .,
1990, by the Common Council of the City of jeffersonville,
Clark County, Indiana.
7c Io MoN c0uNc
ATTEST:
Presented by me as
Cit~ Jeffersonville,~ 1990.
Clerk-Treasurer to the Mayor of the
Indiana, this _~ day of
Approved
and signed
, 1990.
C. R~CHARD SPENC~, JR.~.-/
CLERK-TREASURER ~
by me this ~_<~ day
of
L .' OREM'-"