COMMON COUNCIL OF THE TOWN OF CHURUBUSCO, INDIANA
RESOLUTION NO. _____________
A DECLARATORY RESOLUTION DESIGNATING CERTAIN REAL ESTATE WITHIN THE TOWN OF CHURUBUSCO AS AN ECONOMIC REVITALIZATION AREA (ERA)
WHEREAS, I.C. 6-1.1-12.1 et seq. provides for the designation of an Economic Revitalization Area (ERA) and provides for subsequent deductions from assessed valuation for real estate improvements and for qualified personal property within said Economic Revitalization Area (ERA); and
WHEREAS, the statutory authority found in I.C. 6-1.1-12.1 et seq. provides for the fiscal body of a county, city or town to make the determinations concerning the designation of an Economic Revitalization Area (ERA) within its jurisdiction; and
WHEREAS, the Town of Churubusco contains areas which have become undesirable for, or impossible of normal development and occupancy because of lack of development, cessation of growth, deterioration of improvements, character of occupancy, age obsolescence, substandard buildings, or other factors which have impaired values or prevent a normal development of property or use of property.
WHEREAS, statutory authority found in I.C. 6-1.1-12.1 et seq. provides that the designating body be the fiscal body, the Town of Churubusco Common Council being the fiscal body of the Town of Churubusco; and
WHEREAS, the Town of Churubusco Common Council desires to declare and designate certain real property or areas within their proper jurisdiction as an Economic Revitalization Area (ERA) pursuant to
I.C. 6-1.1-12.1 et seq. , said real property or areas within the jurisdiction of the Town of Churubusco Common Council, more fully described as follows:
SEE ATTACHED EXHIBIT A LEGAL DESCRIPTION FOR ERA DESIGNATION
WHEREAS, the designating body may determine whether deductions from assessed valuation shall be allowed within an Economic Revitalization Area (ERA) based upon findings of fact and economic benefits as presented with a SB-1 form; and
WHEREAS, the designating body must determine a schedule of deductions from assessed valuation over a period up to ten (10) years for both, rehabilitation or redevelopment of real property and for qualified personal property within an Economic Revitalization Area (ERA).
NOT THEREFORE BE IT RESOLVED by the Town of Churubusco Common Council for the Town of Churubusco that said areas, as described above, are within the jurisdiction of the Town of Churubusco, and that the Town of Churubusco Common Council does hereby declare said areas as an Economic Revitalization Area (ERA), pursuant to I.C. 6-1.1-12.1 et seq.; and
RESOLUTION NUMBER ______________
(Continued, Page 2)
BE IT FURTHER RESOLVED by the Town of Churubusco Common Council that a public hearing shall be held prior to confirming this designation, and said public hearing will be advertised and conducted in accordance with I.C. 5-3-1 and I.C. 6-1.1-12.1 et seq.; and
BE IT FURTHER RESOLVED by the Town of Churubusco Common Council that the materials relevant to this designation shall be provided to the county auditor, county assessor, Indiana State Board of Accounts and other affected taxing units for public inspection and comment; and
BE IT FURTHER RESOLVED by the Town of Churubusco Common Council that after making its determination in the affirmative for the designation of an Economic Revitalization Area (ERA) it shall determine a schedule to phase out deductions from assessed valuation over a period up to ten (10) years, as permitted through I.C. 6-1.1-12.1 et seq. for the redevelopment, rehabilitation or other improvements to real property, and for new manufacturing equipment; and
BE IT FURTHER RESOLVED that after hearing public comment regarding this determination, the Town of Churubusco Common Council shall reject, modify and confirm, or confirm the Economic Revitalization Area (ERA) designation as required by I.C. 6-1.1-12.1 et seq.
ADOPTED THIS ________ DAY OF ________________________, 2016.
______________________________________ ______________________________________
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ATTEST:
______________________________________
, Clerk-Treasurer
Presented by me to the Town Council President of the Town of Churubusco, Indiana, for approval and signature, this
day of , 2016, at ¬__.M.
, Clerk-Treasurer
Approved and signed by the undersigned as Town Council President of the Town of Churubusco, Indiana, this
day of , 2016, at , __.M.
, Town Council President
