Resolutions_2011-1I� a
RESOLUTION NO. 2011-�
RESOLUTION OF THE COUNTY COUNCIL OF GIBSON COUNTY, INDIANA
AUTHORIZING TAX ABATEMENT FOR HIGHWAY MACHINE CO., INC.
WHEREAS, the County Council of Gibson County, Indiana has previously by
Resolution designated an area owned by Highway Machine Co., Inc. (HMC) as an
Economic Revitalization Area; and
WHEREAS, the County Council of Gibson County, Indiana has been advised by
HMC of a proposed revitalization project which includes certain real property
development and expenditures for certain personal property items; and
WHEREAS, HMC has caused to be filed with the County Council of Gibson
County, Indiana its Statement of Benefits for both real property and personal property;
and
WHEREAS, said application for tax abatement has been assigned for hearing
this date; and
WHEREAS, the County Council of Gibson County, Indiana has reviewed the
Statements of Benefit and other information brought to its attention and has determined
that the deductions permitted under I.C. 6-1.1-12.1-3 should be allowed as: (1) the
estimate of the value of the redevelopment is reasonable for projects of that nature; (2)
the estimate of the number of individuals who will be employed or whose employment
will be retained can be reasonably expected to result from the proposed redevelopment;
(3) the estimate of the annual salaries of those individuals who will be employed or
whose employment will be retained can be reasonably expected to result from the
proposed redevelopment; and (4) the totality of the benefits is sufficient to justify the
requested tax abatement deduction; and
WHEREAS, the County Council of Gibson County, Indiana hereby FINDS that
the purposes of I.C. 6-1.1-12.1 are served by allowing HMC the deductions provided by
I.C. 6-1.1-12.1;
NOW, THEREFORE, BE IT RESOLVED by the County Council of Gibson
County, Indiana as follows:
1. HMC shall be entitled to a deduction for a period ofp�,� (�) years
as provided by I.C. 6-1.1-12.1 with respect to real property which is redeveloped or
rehabilitated as contemplated by the Statement of Benefits filed herein.
2. HMC shall be entitled to a deduction for a period of/1�N� (�) years as
provided by I.C. 6-1.1-12.1 with respect to personal property expenditures as
contemplated by the Statement of Benefits filed herein.
3. That the President of the County Council of Gibson County, Indiana shall
be authorized to sign such documents as might be required to enable the tax abatement
approved herein.
4. That a copy of this Resolution shall be provided to the office of the Gibson
County Assessor.
5. That the tax abatements being granted herein are subject to providing
annual reports as required by I.C. 6-1.1-12.1.
PASSED AND ADOPTED by the County Council of Gibson County, Indiana this
12`h day of April, 2011.
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