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HomeMy WebLinkAbout1985-OR-67 No. 85-0R-67 ORDINANCE CREATING AN ECONOMIC DEVELOPMENT TARGET AREA WITHIN THE CITY OF JEFFER$ONVILLE, INDIANA, AND APPROVING OTHER ACTIONS IN RESPECT THERETO wHEREAS, the Jeffersonville Economic Development Commission conducted a public hearing on December 13 ., 1985 and adopted a Resolution by the terms of which it recommended to the Common Council of the City of Jeffersonville, Indiana, that the proposed site of the The Woods of Jeffersonville, Ltd. proieet to be located near Allison Lane and U.S. Highway 62, Jeffersonville, Indiana, be declared an economic development target area pursuant to the provisions of Indiana Code $6-7-11.9-4 and 36-?-12-38; and WHEREAS, the Common Council of the City of Jeffersonville, I~diana has considered the recommendation of the Jeffersonville Economic Development Commission to create the Eeonomle Development Target Area pursuant to i.C. 36-?-12-38 and has heard and been presented with evidence of probative value with respect to such issue; NOW, THEREFORE, be it ordained by the Common Council of the City of Jeffersonville, Indiana, that: Section 1. It is recommended that the area near Allison Lane and U.S. Highway 62 whleh is lo~ated in the City of Jeffersonville described on Exhibit B attached hereto and whleh area .(together with all other areas previously designated as Eeonomle Development Target Areas) constitutes less than fifteen percent (1596) of the total geographic territory of the City of 0effersonville, be designated by the Jeffersonville Common Council as an Economic Development Target. Area within the meaning of I.C. 36-?-ll.9--4shall be an Economic Development Target Area for the reasons set forth in Exhibit A hereto. Section 2. The Project is not expected to have any adverse competitive effect in any f~speet. Section 3. The finaneinl~ of the Project will add significant numbers of permanent jobs as shown in the Report of the Economic Development Commission. Section . 4. No persons spoke against the designation of the area on which the Pro]eat is located as an Economic Development Target Area. Section 5. This Ordinance shall be in full force and effect from and after its passage and signing by the Common Council. Adopted this 14th,.day of December , 1985. cITy OF JEFFERSONVILLE,.INDIANA P~esioing Officer, Wzll~am Shrew (SEAL) Attest.' Pre~ented by me to the Mayor of the City of Jeffersonville, Indiana, on the day of _. December _, 1985, at the hour of 9: 00 A.M. 16th Approved and signed by me this _16th_ day of December , 1985, at the h._our of 9: 00 A.M. -2- EXHIBIT A special Findings of Fact The designated Economic Development Target Area has become undesirable for normal occupancy due to the deterioration, age, and obsolescence of the improvements- The financing of the acquisition, refurbishment, and renovation of the project will add significant numbers of permanent and part-time 'matel 11 to 12). In addition during the. renovation jobs (approxl Y · - '~ ~ .... ated, creating a total ~riod, 3 to 4 permanent ]ODS Wl~ ~ ~ :--~,, C200,000. r- oll durln the renovation annual payr ~ g ~ · ....... ~=~ted to local contractors The majority of the work wlz~ thereby creating additional employment opportunities. - ........ itel imorovements such as is in need of SUDssansld~ The project ~_-~ .... 4~. fencing, refurbishment of h~l~ys~= new rooLs~ z~,um~-~,_ ~ -L:chm=n~ nf several cannlDallze~ recarpeting, carpentry, ~he re~n~o~5.~a~es' and the repair and units, the replacement an~ repazz replacement of exterior siding. It is anticipated that the costs of the renovation and refurbishment will exceed $500,000. The designation will -not produce any antincompetitiv~ effect in- that the neighboring projects have reported vacancy rates averaging. 7% compared to the current 30% vacancy rate at the designated area. 'The effect of lo'al economic conditions, including the closing of Marble Hill, has had a disproportionately strong impact on the area due to its physical deterioration- In the absence of any adverse competitive effect the benefits to the public from the new jobs and payroll to be generated by the project clearly indicates that the project should be supported by the issuance of economic development revenue bonds. DESCRIPTION OF THE BOUNDARY OF THE WOODS APARTMENTS, PARCEL A A Part of Survey No, 12 of the Illinois Grant in Jeffers0nvitle Township of Clark Co6nty, Indiana, being a part of the same 79.163 acre tract conveyed to Ellen. A. Ash at Deed Record 84, page 570 and bounded as follows: Beginning at a stone monument in the line dividing Surveys No. 12 and 22 of the Illinois Grant which marks the north corner of said Survey No. 12, which is also the west corner of a tract conveyed to Alpha Gilmore at Deed Record 192, page 125; thence South 35 deg.. 29 min. 35 sec. East, 498.10 feet with the line dividing Surveys No. 12 and 13 of the Illinois Grant to an iron pin which is the true place of beginning- Thence the following courses of the boundary: South 35 deg- 29 min. 35 sec. East, 1052.25 feet with the line dividing Surveys No. 12 and No. 13 of the Illinois Grant, which is also the southwesterly line of said Gilmore tract to an iron pin; South 54 deg. 12 min. 10 sec. West, 500.01 feet to an iron pin; North 35 deg. 29 min. 35 sec. West, 1054.90 feet ~to an iron pin; North 54 deg. 30 min. 25 sec. East, 500.00 feet with said dividing line to the true place of beginning and containing 12.093 acres of land. Course datum for the bearings used in the above description is the true meridian as obtained by astronomical observation.