Resolutions_1986-11-18la6 �
GIBSOiJ COUNTY COUNCIL
RESOLUTION N0. 1986-11-18
TAX ABATEMENT RESOLUTION
WHEREAS, the County Council of Gibson County,
Indiana recognizes and acknowledges the need to stimulate
economic development and growth in Gibson County, Indiana;
and
WHEREAS, the County Council further recognizes and
acknowledges that incentive to locate industry on unutilized
or utilized land and to encourage the improvement or rehabi-
litation of real estate would be in the best interest of
Gibson County, Indiana; and
WHEREAS, Indiana Code I. C. 6-1.1-12.1-1 et. seq.
provide for the abatement of real property taxes to owners
of rehabilitated or redeveloped real property located within
an economic revitalization area and personal property taxes
to the new owners of new manufacturing equipment installed
in an economic revitalization area; and
WHEREAS, the County Council further recognizes and
acknowledges the benefit of designating specified areas
within the County as economic revitalization areas for the
purpose of tax abatement; and
WHEREAS, the County Council finds that in addition
to that area heretofore designated as an economic revitaliza-
tion area by Resolution No. 1985-11-19, the area hereinafter
identified commonl;_y known as the Princetcr_ I:,3ustries property
on Highway 41 South of Princeton, Indiana is also an area
that should be designated as an economic revitalization
area qualifying for tax abatement in that such area has
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become undesirable for normal development and occupancy
because of the lack of development and cessation of growth
in that area and because of the character of occupancy of
the facility and lack of use thereof, all of which have
impaired values and have prevented normal development and
use of the property and facility; and
WHEREAS, the County Council further finds. that the
present facility located in the identified area may be
technologically and economically obsolete and which obsoles-
cence will lead to a decline in employment and tax revenues.
NOW, THEREFORE, BE IT RESOL�IED BY THE COUIdTY COUNCIL
OF GIBSON COUNTY, INDIAIQA, THAT:
SECTION ONE:
The County Council of Gibson County, Indiana, hereby
defines and designates as an economic revitalization area,
that area identified on Exhibit "A", being the legal descrip-
tion of such area, and on Exhibit "B", being a map of such
area. Exhibit "A" and Exhibit "B", being attached hereto
and made a part hereof, which area is co�nonly known as
the Princeton Industries property located on Highway 41
South of Princeton, Indiana, which area shall be entitled to
qualify for tax abatement pursuant to Indiana Code 6-1.1-12.1-1
et seq. as hereinafter amended.
SECTION TWO:
An owner of property or new manufacturing equipment
who desires to obtain a deduction for tax abatement must file
a certified deduction application on forms prescribed by the
3°'b�
State Board of Tax Commissioners with the Auditor of
Gibson County, Indiana, pursuant to Indiana Code Section
6-1.1-12.1-5 and/or 1.1-12.1-5.5 as amended. Further, such
owner shall forward a copy of said application to the Assessor
of the Township in which the property is located for verifica-
tion of the correctness of the application by said Assessor
to the County Auditor. The deduction for the rehabilitation or
redevelopment of real property and for the installation of new
manufacturing equipment shall be for the amounts and for the
number of years as provided by the applicable,.provisions of
Indiana Code Sections I. C. 6-1.1-12.1-1 et seq.
SECTION THREE:
Notice of the adoption and substance of this Resolution
sha11 be published in accordance with I. C. 5-3-1 and said
notice sha11 state that a description of the affected area
is available and can be inspected in the County Assessor's
Office. Said notice shall also contain a date when this
Council will receive and hear all remonstrances and objections
from interested persons. After considering the evidence at
said hearing, this Council sha11 take final action determining
whether the qualifications of an economic revitalization
area have been met and confirming, modifying or rescinding
this Resolution. This Resolution shall be in full force and
effect fron and after the confirmation or from and after its
modification and confirmance after said hearing.
PASSED AND ADOPTED by the County Council of Gibson
County, State. of Indiana, this 18th day of November, 1986.
GIBSON COUNTY COUNCIL
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Warner E. Clem
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Charles E. Shoultz
ATTEST:
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Hubert 0. Crawford, Audi or
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the Southcavt Quarter of Section 24. TownoAtp 2 SautA, Ranre
in Fatok� 7'oWnehip, CiDeon Coun�y, lndiano, and further
as followei
6e;in at a 5/B 1nc� iron on l�e North lioc of fhe Southeast Quarter of
Scetion 24, ToWnehip 2 South, Rangc 11 Geet, 40 teet Yeet of tCe
Nurlheaet eorn�r thereof, and on the Vcot �U foot Right-of-Nay of tte
Loufeville and Nsshvllle RaSlroad; tAencc bear Snuth fi degrFes and Of
sinutec F:act, alung said Yest rix��t-of-��ay, [,OSb.SS feet to a
coticrele e�arker on t�e Nurtheaet 130 (ocl �iF6i-ef-paY of U. 5.
Hi6A►+ay t41: thencc elong esid r181,t-of-way ir� a Nortrwevterly
dfrection, tl�e tolloxin� courceo ond dintr�r�cee: North 48 degreea end
16 ■inutes Yeet, 2'/2.4G faet, to e point 13U fcet Hortheaet of the
eente�line of enid U.S. ;It thence bear Nart� 41 degreeo, 20 ninutec
ar�d 36 seconda Heot, bi1).1� feet to s point 87 feet qorthraet of eaid
centerlfne: thence bear Nerth �f7 deRrveo 35 miriutes and 21 aeconde
Hcet, 110U.Ob feet tu a Point lU0 (eet Northeaot o[ ssid centerline:
thence bcar Nurth SS deFreee 4U ninutee and '2S secunde peot, 100.8�
tect to a point 87 feet NartAcast of a�id cc+oterline; thence tear
North 48 detreco and 16 ninutea Yect, Faralle] tu oaid centerllnr,
lUO.UO feett thencc be:,r Nort�� 43 deg�eee til riuutec and 16 eecandc
Hest, 100.32 fect to a pafnt 95 feet qartt�eaet of said centerline;
thence tear North �f5 degreeo 'tb ninuten and 31 eeconde Yeet 32°.93
fcet te a point 8i feet Nertheaet of said c�nterline, at the
intcreectfon ot said f�ighwdy right-of-►rap and the NortG line of the
SoutT�eaet Quorter of Sectfon 24; tl�ence tear E�et, alon� eaid Nc�rlb
linc 2,31'L.G'L feel to the point of bcainniog.
EXHIBIT A
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THIS RESOLUTION numbered 1986-11-18 is hereby
confirmed after a public hearing on the same, of which said
public hearing, notice was given according to law and which
said hearing was held on the 22nd day of December, 1986.
APPROVED AND CONFIRMED tiy the County Council of Gibson
County, Indiana, this22nd. day of December, 1986.
ATTEST:
�.
Hubert 0. Crawford, itor
GIBSOtd COUNTY COUNCIL
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Ray�ewig
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Warner E . Clem
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Ro Showers
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Char.les E. Mills
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Charles E. Shoultz