• NOTICE

NOTICE
Notice is hereby given that the Common Council of the
City of Terre Haute, Indiana
at a meeting thereof, held on the 9th day of March, 2017 adopted RESOLUTION NO. 5, 2017 AS AMENDED a resolution declaring an "Economic Revitalization Area" for the purpose of a ten (10) year personal property tax abatement for an area commonly identified as 3701 North Fruitridge Avenue, Terre Haute, Indiana, for Ampacet Corporation.
RESOLUTION NO. 5, 2017
(AS AMENDED)
A Resolution of the Common Council of the City of Terre Haute, Indiana, Designating an Area Within the City (commonly identified as 3701 N. Fruitridge Avenue, Terre Haute, Indiana) as an Economic Revitalization Area for the Purpose of Ten (10) Year Personal Property Tax Abatement for Ampacet Corporation.
WHEREAS, a Petition for a ten (10) year personal property tax abatement has been filed with the Common Council of the City of Terre Haute, Indiana requesting that the real property described in Exhibit A (which is made a part hereof) be designated an Economic Revitalization Area for purposes of personal property tax abatement;
WHEREAS, Ampacet Corporation (hereinafter “Petitioner”), has submitted a Statement of Benefits and provided all information and documentation necessary for the Common Council of the City of Terre Haute, Indiana to make an informed decision, said information including a map of the aforesaid property as set forth in attached Exhibit B (which is made a part hereof); and
WHEREAS, Petitioner has estimated that, in connection with its investment in the described project and installation of new manufacturing equipment (the "Project"), Petitioner will not be required to lay off any of its one hundred eighty one (181) employees, thus allowing Petitioner to retain all its existing permanent full-time positions with an annual payroll of approximately $10,737,000.00, while it is also expected to allow Petitioner to add approximately six (6) new permanent full-time positions with a total annual payroll of approximately $300,000.00 plus benefits. Petitioner has further estimated that the cost of this Project will be approximately $3,800,000.00 for new manufacturing equipment; and
WHEREAS, the Common Council of the City of Terre Haute, Indiana is authorized under the provisions of I.C. 61.112.11 et seq. to designate areas of the City of Terre Haute, Indiana as economic revitalization areas for the purpose of tax abatement; and
WHEREAS, the Common Council of the City of Terre Haute, Indiana has considered the Petition and Statement of Benefits and has conducted a complete and proper investigation of the subject property and neighborhood to determine that the area qualifies as an economic revitalization area under Indiana statutes; and
WHEREAS, the Common Council of the City of Terre Haute, Indiana has found the subject property to be an area within the boundaries of the City of Terre Haute, Indiana, where facilities that are technologically, economically, or energy obsolete are located and where the obsolescence may lead to a decline in employment and tax revenues; and
WHEREAS, the personal property abatement is a declining percentage of the assessed depreciable personal property value of the newly installed manufacturing equipment based upon the following time period and percentages as determined by the Common Council of Terre Haute, Indiana:
NOW, THEREFORE, IT IS FOUND, DETERMINED AND RESOLVED by the Common Council of the City of Terre Haute, Indiana that:
1. The Petitioner’s estimate of the cost of the Project is reasonable for manufacturing equipment of that type in view of current technologies.
2. The Petitioner’s estimate of the number of individuals who will be employed or whose employment will be retained, and the benefits realized thereby, can reasonably be expected to result from the Project.
3. The Petitioners' estimate of the annual salaries or wages of the individuals who will be employed and retained, and the benefits realized thereby, can reasonably be expected to result from the Project.
4. The other benefits about which information has been requested can be expected to result from the Project.
5. The totality of the benefits of the Project are sufficient to justify personal property tax abatement over a 10-year deduction period, and each such deduction should be, and they are collectively hereby, allowed.
6. The Petition for designating the subject property as an Economic Revitalization Area for the purposes of ten (10) year personal property tax abatement and the Statement of Benefits (copies of which were submitted with the Petition) are hereby approved and the real estate described herein is hereby designated as an Economic Revitalization Area pursuant to I.C. 61.112.11 et seq. and Petitioner is entitled to personal property tax abatement over a 10-year deduction period as provided therein for the proposed acquisition of the new manufacturing equipment.
7. Notice of the adoption and substance of this Resolution (as amended) shall be published according to I.C. 5-3-1 stating the adoption and substance hereof, stating a date for the public hearing at which the County Council will hear and receive remonstrances and objections, and take final action on the designation of the Real Estate as an economic Revitalization Area, the approval of the Statement of Benefits, and the consideration of the adoption of the waivers, and stating that a copy of the description of the affected area is available for inspection in the County Assessor’s Office, all as required by law.
8. This Resolution (as amended) is supplementary to and in addition to any prior resolutions.
Introduced by: Karrum Nasser, Councilman
Passed in open Council this 9th day of March, 2017.
Karrum Nasser, President Common Council of Terre Haute, Indiana
ATTEST: Charles P. Hanley, City Clerk
Presented by me to the Mayor this 10th day of March, 2017.
Charles P. Hanley, City Clerk
Approved by me, the Mayor, this 10th day of March, 2017.
Duke Bennett, Mayor City of Terre Haute, Indiana
ATTEST: Charles P. Hanley, City Clerk
EXHIBIT A
Part of the Northwest Corner of the Southeast Quarter of Section 1, Township 12 North, Range 9 West, consisting of 29.30 acres more or less (3701 North Fruitridge Avenue), Vigo County, Indiana, Parcel No. 84-06-01-400-021.000-002, consisting of the following two parcels:
Parcel 1:
Part of the Southeast quarter of Section 1, Township 12 North, Range 9 West, 2d Principal Meridian more particularly described as follows:
From a bolt and washer in pavement at the Northwest corner of the Southeast quarter of said Section 1, said bolt and washer being also the point of intersection of the centerlines of Steelton Road and Fruitridge Avenue, thence running South 87° 42’ 40" East, along the North line of said Southeast quarter, 715 feet to the place of beginning. Thence continuing on said line 495 feet; thence South, 813.2 feet to a point 10 feet off of the centerline of a railroad switch track; thence South 49° 54’ West, and paralleling said track 202 feet; thence continuing along a line 10 feet off said tract, Southwesterly around a curve having a radius of 1077.96 feet, a distance of 245.65 feet; thence North 89° 53’ West, 465 feet to a point on the East side of a roadway; thence North 0° 16’ West, along the East side of said roadway, 179.2 feet; thence North 8° 28’ West along saidEast side of roadway, 558.8 feet to a point on the North bank of a drainage ditch; thence Northeasterly along the North bank of said ditch, around a curve having a radius of 843.24 feet, a distance of 501.32 feet; thence North 99.4 feet to the place of beginning, containing 19.19 acres more or less.
ALSO
A permanent right of way to use those roads and streets immediately abutting the above described property, as well as access roads leading to and from Fruitridge Avenue.
ALSO
A license to use such railroad tracks and switch lines that may be available on the adjoining land owned by Grantor to allow railroad car shipments to and from the above described real estate.
ALSO
A license to use public utility lines that now exist or that may be installed over or on the land of Grantor to the above described real estate.
SUBJECT, HOWEVER, TO THE FOLLOWING RESERVATIONS:
Subject to any and all conditions, utility easements, rights of way and other restrictions and limitations of record affecting said real estate,
Reserving unto Grantor, its successors, and assigns, a perpetual easement and right of way to use and maintain the drainage ditch presently located in the Northwest corner of the above described real estate.
ALSO
Parcel 2:
Part of the Southeast quarter of Section 1, Township 12 North, Range 9 West, 2d Meridian, more particularly described as follows:
Commencing at the Northwest corner of the Southeast quarter of said Section 1, said corner being the point of intersection of the centerlines of Steelton Road and Fruitridge Avenue; thence South 87 degrees 42 minutes, 60 seconds east along the North line of said Southwest quarter, 715 feet; thence South 99.4 feet to a point on the North bank of a drainage ditch; thence Southwesterly along the North bank of said ditch, around a curve having a radius of 843.24 feet, a distance of 501.32 feet; thence South 8 degrees, 23 minutes East, along the East side of a roadway, 558.8 feet; thence South 0 degrees, 16 minutes East along said East side of roadway, 179.2 feet to the center of another drainage ditch, thence North 89 degrees, 01 minute, 10 seconds West, 377.4 feet more or less generally along the center line of said ditch and continuing to the centerline of Fruitridge Avenue; thence North 0 degrees, 06 minutes, 10 seconds West, 1111.0 feet to the place of beginning; and containing 10.1 acres more or less.
SUBJECT to an easement for Fruitridge Avenue off of the West side and for Steelton Road off of the North side thereof.
Notice is hereby given that on the 6th day of April, 2017 and the 11th day of April, 2017; both meetings at 6:00 o’clock P.M. at the City Hall Court Room, said Common Council will meet for the purpose of hearing and considering any remonstrances filed or presented by persons interested in or affected by said RESOLUTION NO. 5, 2017 AS AMENDED and taking final action with respect to RESOLUTION NO. 5, 2017 AS AMENDED determining whether the qualifications for an economic revitalization area have been met, and confirming, modifying and confirming, or rescinding the resolution.
Charles P. Hanley, City Clerk
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PostedMarch 20, 2017