HomeMy WebLinkAbout2026-9 Economic Revitalization Area - Superior Holdings202600004436
RECORDER AS FI;ESENTED IN
GIBSON COUNT)', INDIANA
TIN SCNURMEIER, RECORDER
10/1612026 10.56 AN
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RESOLUTION NO.2026-09 PAGES: 6
A DECLARATORY RESOLUTION OF THE COUNTY COUNCIL OF GIBSON
COUNTY, INDIANA
DESIGNATING AN ECONOMIC REVITALIZATION AREA
(Superior Property Holdings, LLC — 4827 W. State Road 64)
WHEREAS, IC 6-1.1-12.1 (the "Act") authorizes a designating body to find that an
area within its jurisdiction is an economic revitalization area and to allow property tax
deductions for the redevelopment or rehabilitation of real property, and for the installation of
certain new equipment, located within that area;
WHEREAS, Gibson County does not contain a consolidated city, and the County
Council of Gibson County, Indiana (the "Council"), as the fiscal body of the County, is the
designating body under IC 6-1.1-12.1-1(7) for areas within its jurisdiction;
WHEREAS, Superior Property Holdings, LLC, an Indiana limited liability company
and an affiliate of Nix Companies, Inc., whose address is 6751 Frontage Road, Poseyville,
Indiana 47633 (the "Applicant"), is the owner of approximately 12.9 acres of real estate
commonly known as 4827 W. State Road 64, Princeton, Indiana 47670, Parcel No.
26-11-08-400-000.247-027, DLGF Taxing District 027, as more particularly described in
Exhibit A and depicted in Exhibit B (the "Area");
WHEREAS, the Area lies in Patoka Township outside the corporate limits of any city
or town, within Taxing District 027, and within the jurisdiction of the Council;
WHEREAS, the Applicant has filed with the Council a Statement of Benefits for Real
Estate Improvements (State Form 51767, Form SB-1/Real Property) dated August 4, 2026, for
a project to demolish an existing dilapidated building on the east side of the Applicant's
current building in the Area and construct an additional building of approximately 20,000 to
22,000 square feet, with an estimated cost of $2,500,000, an estimated start date of September
14, 2026, and an estimated completion date of December 31, 2027, to support the growth of
the Applicant's existing long-term tenant, an industrial electric motor repair business, and has
requested that the Area be designated an economic revitalization area so that the project may
qualify for a deduction under IC 6-1.1-12.1-3;
WHEREAS, the Council has caused to be prepared a map and a description of the
boundaries of the Area as required by IC 6-1.1-12.1-2.5(a), which are attached as Exhibits A
and B;
WHEREAS, the Applicant's representatives presented the request to the Council at its
regular meeting on August 11, 2026, and the Council has reviewed the inforination brought to
its attention and finds that the Area has become undesirable for, or impossible of, normal
development and occupancy because of the deterioration of improvements, including an
existing dilapidated building, and other factors which have impaired values or prevent a
normal development of property or use of property; and
i T --10 ' Resolution No, 2021-11— Page 1
WHEREAS, the Council finds that designating the Area as an economic revitalization
area will encourage the redevelopment of the Area and approximately $2,500,000 in new
capital investment, will support the retention and growth of skilled, high -wage employment in
Gibson County, and will expand the tax base of Gibson County, and is in the best interests of
the County and its residents;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNTY COUNCIL OF
GIBSON COUNTY, INDIANA, AS FOLLOWS:
Findings.
1.1 The recitals above are incorporated into this Resolution as findings of the
Council.
1.2 The Area is within the jurisdiction of the Council and meets the definition of an
economic revitalization area under IC 6-1.1-12.1-1(1).
1.3 The description of the Area in Exhibit A and the map in Exhibit B identify the
Area as required by IC 6-1.1-12.1-2.5(a).
2. Declaration.
2.1 Under IC 6-1.1-12.1-2.5(b), the Area described in Exhibit A is declared an
economic revitalization area, subject to confirmation by the Council after the
public hearing described in Section 4.
3. Deductions and Limitations.
3.1 Within the Area, the deduction allowed is limited to the deduction for the
redevelopment or rehabilitation of real property under IC 6-1.1-12.1-3. No
deduction is allowed for personal property, residentially distressed areas, or
new agricultural improvements.
3.2 The deduction shall be allowed for a period of [I years, under an abatement
schedule to be established by the Council in its confirmatory resolution as
permitted by IC 6-1.1-12.1-17.
3.3 The designation applies only to the project described in the Applicant's
Statement of Benefits, and the Council's approval of any deduction remains
subject to the findings required by IC 6-1.1-12.1-3, which the Council will
make at or after the public hearing.
its Ition
Resolution No. 2026-09 — Page 2
ADOPTED by the County Council of Gibson County, Indiana, this 13th day of
October, 2026.
COUNTY COUNCIL OF GIBSON COUNTY, INDIANA
remy verton, President
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f,f om Perry
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Mike Watkins
Auditor, Gibson County, Indiana
Der cGraw, Vice President
Bob Schleter
Resolution No. 2026-09 — Page 4
EXHIBIT B
Map of the Economic Revitalization Area
Part of the NW % of the SE 1/a, Section 8, Township 2 South, Range 11 West, Patoka Township, Gibson County,
Indiana
Parcel lines from the IndianaMap statewide parcel layer (Gibson County data). For identification only, not a survey. The Area is the
real estate described in Exhibit A, which controls in any conflict.
Resolution No. 2026-09 — Page 6