RESOLUTION #   2013-4  

RESOLUTION OF THE TOWN OF LEO-CEDARVILLE TOWN COUNCIL
APPROVING APPLICATION FOR TAX ABATEMENT

WHEREAS, the Leo-Cedarville Town Council approved Resolution #2012-8 on March 27, 2012.

WHEREAS, Resolution #2012-8 established an Economic Revitalization Area pursuant to Indiana Code 6-1.1-12.1-1, et seq.

WHEREAS, a development at 10400 and 10429 Hosler Road (“the Project”) within the Economic Revitalization Area created by Resolution #2012-8 has been proposed.

WHEREAS, Leo-CHS LLC, and Lutheran Medial Group (collectively “Applicant”) applied for a deduction from the assessed value of the property associated with the Project.

WHEREAS, pursuant to I.C. 6-1.1-12.1-3, Applicant has submitted two Statements of Benefits with regard to the Project.

WHEREAS, according to the Statements of Benefits submitted by Applicant:

a. The estimated value of the Project is $ 1,100,000.00;
b. Approximately six people will be employed as a result of the Project;
c. The aggregate annual salary of the individuals employed with the Project will be approximately $655,000.00.

NOW THEREFORE, be it resolved by the Leo-Cedarville Town Council:

1. Resolution #2012-8, which created an Economic Revitalization Area in Leo-Cedarville is confirmed in all respects.
2. The estimated value of the Project identified by Applicant in the Statements of Benefits is reasonable for developments in the nature of the Project.
3. It is reasonable to expect that six individuals will be employed as a result of the Project.
4. It is reasonable to expect that the annual salaries of the individuals who will be employed as a result of the Project will equal, in the aggregate, approximately $655,000.00
5. The totality of the benefits resulting from the Project justify the deduction sought by Applicant, and the application for deduction is approved.
6. Pursuant to Indiana Code 6-1.1-12.1-1, et seq., it is hereby determined that the deduction from the assessed value of the property shall be in effect for ten years.
7. The recipient of the deduction approved by this Resolution may be required to repay the deduction amount in accordance with I.C. 6-1.1-12.1-12 in the event that the recipient of the deduction ceases operations at the Project and in the event that the Leo-Cedarville Town Council finds that the recipient obtained the deduction by intentionally providing false information with regard to the recipient’s plans to continue operations at the Project.

Passed and adopted by the Leo-Cedarville Town Council on this   26th   day of March, 2013.

Signed,

  John Clendenen        
John Clendenen
President

  Tim Richards             
Tim Richards
Council Member

  Kevin Veatch             
Kevin Veatch
Council Member

  Paul Steffens            
Paul Steffens
Council Member

  Ted Garton               
Ted Garton
Council Member

      ATTEST: John Eastes                
John Eastes
Clerk-Treasurer