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HomeMy WebLinkAbout1998-R-26RESOLUTION 98-R~ RESOLUTION APPROVING STATEMENT OF BENEFITS FOR PURPOSES OF PROPERTY TAX ABATEMENT WHEREAS, Indiana Hotel Associates, LLC (the "Applicant") has petitioned the Common Council of the City of Jeffersonville, Indiana, for a deduction in real property ~xes to be assessed on proposed improvements to be made on property located in the area commonly lmown as the Piggyback Yard in the City of Jeffersonville, Clark County, Indiana; and WHEREAS, the Applicant bas submitted an application which includes the Statement of Benefits on the fom~ prescribed by the Indiana State Board of Tax Commissioners for such purpose, wtfich application and statement include a description of the proposed redevelopment, an estimate of the number of in&'viduals 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, attached hereto as "Exhibit A" and WHEREAS, by Ordinance No. 90-OR-56, on November 7, 1990, the Common Coundl of the City of Jeffersonville designated the area where the proposed redevelopment project is located in the City of Jeffersonville as an Economic Development Target Area pursuant to Indiana Code 6-1.1- 12.1 et seq., specifically IC 6-1.1-12.1-7; and WHEREAS, the City's Department of Redevelopment has reviewed the application and Statement of Benefits subntitted by the Applicant and has advised the Common Council that the application has been submitted in compliance with the approved Tax Abatement Policy of the Common Council of the City of Jeffersonville. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Jeffersonville, Indiana, that it specific41y and affirmatively finds as follows: 1. That the estimate of thc value of the redevelopment is reasonable for projects of the nature described in the Statement of Benefits subntitted by the Applicant. 2. That the estimate of thc number of individuals who will be ¢mployed or whose employment will be retained can reasonably be expected to result from the proposed described redevelopment. 3. That the estimate of the annual salaries of those individuals~ who will be employed or whose employment will be retained can be reasonably expected to result from the proposed described redevelopment. 4. That all other i~fformation requested froxn thc Applicant bas been submitted, and the benefits described in such information can be reasonably expected to result from the proposed described redevelopment. 5. 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 hereby approves the application and Statement of Benefits as presented and filed by the Applicant, and that said Applicant shall be entitled to deductions for a period often (10) years for improvements to real property, pursuant to the provision of IC 6-1.1-12.1-3(d) and IC 6-1A-12.1-4(d)(3), with the timely filing and perfection thereof with the Clark County Auditor's office. This Ordinance shall be in full force and effect from and after its passage and approval. Passed fids ~_.~_ day __of ~,~_ _/Lsat_ __~___~_&_~ C. ' d Sp ,~. ~ Clerk ~d Treasure~ Pre__scnted .by me as C~erk and Treasurer to the Mayor of said City of Jeffers~onville _ / C. Richard Sp , yr4 ~ ' Clerk and Treasurer