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.
| John Clendenen
| Paul Steffens