108-18 - Winamac Resolution No. 5 of 2018
A PRELIMINARY AND DECLARATORY RESOLUTION
OF THE TOWN COUNCIL OF THE TOWN OF WINAMAC, INDIANA,
DESIGNATING A CERTAIN AREA OF THE TOWN OF WINAMAC AS AN
ECONOMIC REVITALIZATION AREA FOR THE PURPOSE OF
QUALIFYING APPLICATIONS OF ASSESSED VALUATION
DEDUCTIONS PURSUANT TO § IND. CODE 6-1.1-12.1
Resolution No. 5 of 2018
WHEREAS, assessed valuation deductions of tangible personal property (“Tax Abatement”) is authorized under Ind. Code § 6-1.1-12.1 et seq, in the form of deductions from assessed value for tangible property improvements that results from development, redevelopment, and rehabilitation; and
WHEREAS, the Town Council for the Town of Winamac, Indiana (the “Town Council”) as the designated body for the Town of Winamac (the “Town”), is empowered, pursuant to Ind. Code § 6-1.1-12.1-2 and Ind. Code § 6-1.1-12.1-2.5, to establish economic revitalization areas (“ERAs”) with the Town to stimulate development in an ERA as a result of deductions from assessed value of tangible (eligible real and personal) property improvements from development, redevelopment, and rehabilitation; and
WHEREAS, in an effort to attract new qualified employment, retain quality employment, broaden the tax base of the Town, and foster economic vitality, specific to the Town’s downtown and adjacent area, the Town Council desires to designate and establish an ERA consisting of all property hereinafter defined.
NOW, THEREFORE, BE IT ORDAINED by the Town Council of the Town of Winamac, Indiana, that it finds and provides as follows:
Section 1. The area described in Exhibit A, attached hereto and incorporated herein by reference, shall comprise the designated ERA, as provided for under Ind. Code § 6-1.1-12.1-2.5(a).
Section 2. Consistent with Ind. Code § 6-1.1-12.1-2.5, the Town shall provide the appropriate notice to the Pulaski County Assessor’s Office and to affected taxing units, and shall take all other steps as required under Indiana law.
Section 3. A public hearing on this matter is scheduled for July 9, 2018, at 6:00 p.m. (EST), or at such time as otherwise established by the Town Council, provided that proper notice is given, as required pursuant to the Indiana Open Door Law.
Section 4. The ERA described in Exhibit A, attached hereto and incorporated herein by reference, shall be in existence for Ten (10) years following its passage and any modification or confirmation thereafter in the public hearing described in Section 3, herein.
Section 5. This Resolution shall be in full force and effect from and after its passage, and any subsequent modification or confirmation after the public hearing is held to consider any such remonstrances and/or objections, as provided in Section 3, herein.
PASSED AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF WINAMAC, INDIANA, THIS 11th DAY OF JUNE, 2018.
THE WINAMAC, INDIANA TOWN COUNCIL
APPROVED: Tom J. Murray, President ; James Watkins, Vice-President; Alvin R. Parish, Council Member; Dan Vanaman, Council Member; Judy Heater, Council Member
ATTEST: Bradley Zellers, Town Manager
108-18 G 06/27