plainfield redevelopment commission resolution no. 20 17-03 ...
PLAINFIELD REDEVELOPMENT COMMISSION RESOLUTION NO. 20 17-03 RESOLUTION APPROVING OF REAL PROPERTY TAX ABATEMENT APPLICATION—STRATEGIC CAPITAL PARTNERS, METROAIR #6 WHEREAS, the Redevelopment Commission of the Town of Plainfield, Indiana (the “Commission” and “Town,” respectively) has created the Six Points Economic Development Area (the “Area”) and one or more allocation areas within the Area, and adopted one or more economic development plans for the Area; and WHEREAS, Strategic Capital Partners (the “Applicant”) filed with the Town a Petition for Real Property Tax Abatement Consideration (the “Application”), pursuant to I.C. 6-1.1-12.1 1-1 et. seq.; and WHEREAS, the Application has been reviewed by the staff of the Town and has been found to be complete and the Town has received the requisite filing fee from the Applicant; and WHEREAS, the real estate described in Exhibit A attached to the Application for which the tax abatement is requested is located within the Area; therefore, the Tax Abatement Committee has forwarded the Application to this Commission for approval. NOW, THEREFORE, BE IT RESOLVED BY THE PLAfNFIELD REDEVELOPMENT COMMISSION, THAT: The Commission has reviewed and hereby approves of the Application and 1. instructs the President of the Commission to forward this resolution to the Tax Abatement Committee for review and recommendation to the Town Council. 2.
This resolution shall be effective upon passage.
ADOPTED: February 6, 2017
PLAINFIELD REDEVELOPMENT COMMISSION
Presie t Attest:
TOVN OF PL&NHELD PETI HON FOR REAL PROPERTY TAX ABATEMENr CONSI1)ERA [IoN
The undersigned owner (s) of real property. located within the Town of Plainfield, Ifereby petition the [own Council of the Town of Plainfield for real property tax abatement consideration and pursuant to Lc.6 Ii 12. 1 1, ci, Seq, and Town of Plainfield Ordinance No. 5 97 for this petition states the following: —
—
—
—
1.
Describe the proposed redevelopment or rehabilitation project, including information about physical improvements to be made, the amount of land t:o be used, and estimate of the cost of the project, the proposed use of the improvements, and a general statement as to the importance of the projeci to our business:
The proposed project is a new speculative (lass A office warehouse building consisting of approximately 382 J’54 square feet The site is approximately 25.97 acres. Site improvements will include approximately 237 car parking Spaces. 52 trailer parking spaces and Ofl5ite detention. The projected total project costs are S2OJOuiJXttl. Projected use of the building is ofiice.warehouse and distribution which is consistent with current zoning tor the property. ‘1 his type of development is the core locus of Strategic Capital Partners. The project is not financially viable without real property tax abatement. 2.
The redevelopment or rehabilitation project itself will create Till) new, permanent jobs iuthin the first star repnsentmg a ness annual pas roll of S Till) and will maintain Till) existing permanent parttime jobs with an annual payroll of $ Till). The project annual salaries for each new position created are estimated to be as follows:
l)ue to the speculative nature of the project, it is not possible to detemiine the exact number ofjohs that will be created and resulting payroll br the first year.
3.
Estimate the dollar value of the redevelopment or rehabilitation project: S20,7(X),000OO,
4.
(a) The real property for which tax abatement consideration is petitioned (Properts) is ossned or to be onned hi the follosstng mdniduals or corporatwns (if the business organization is publicly held, indicate also the name of the
1
corporate parent, if any, anfi the name under which the corporation has filed with the Sccurities and Exchange Commission): NAMF. StrLtg( spit ml I’ irtoers
INTEREST 100
ADDRESS %Ot) kmtone C ronn Suik 100 Indianapolis. IN 46240
b) The followIng other persons lease, intend to lease, or have an option to boy the Property (include corporate intrmation as required in (4 (a) above, if applicable): IN”TFREST
A[)i)R[SS \AMh I BD duc. to the ‘pukitiu. nmwt. ot th ptoJct
te) A br C dwurptiun of the oerII tntture of tiw I,uinc ud ofb operations occurring at the Property: TBI)
due to the speculative nature of the project.
5. The commonly known address of the Property is: NA
A legal description of which is attached hereto, marked “ Exhibit A incorporated herein. The Key Number of said property is: See attached list of parcels.
2
“,
and
6. A map and I or pint describing the Property is attached hereto, marked Eih.ibit B and incorporated herein. ‘.
7. The current assessed valuation of the real property before rehabilitation, redevelopment, economic revitalization, or improvement: Combined 16 parcels: $145,300 8. List the real and personal property taxes paid at the location during the previous Five years, whether paid by the current owner or a previous owner: YEA.R 2016 2015 2014 2013 2012 9.
PE1.SONAL PROPERTY TAXES N/A N/A N/A N/A N/A
RE.%i. PROPERTY TAXES SO (exempt) SO (exempt) 50 (exempt) 50 (exempt) SO (exempt)
What is your best estimate of the after Property:
—
rehabilitation market same of the
S20,700,tKX30O 10. No building permit has been issued for construction on the property in connection with the improvement in question as of the date of filing of this petition. The signature below is verification of this statement. 11. Th.e Standard Industrial Classification Manual major group ssithin which the proposed project would be classified, by number and description: Division F: Major Group 42: Motor Freight Transportation and Warehousing Industrs bioup 42% General V arehousmb md Stot ip.
12.
The Internal Revenue Service Code of Principal Business Activity by sihich the proposed project would be classified, by number and description:
1.117.15 (01-01-2006) 1’mnsportation and Warehousing
3
13.
Describe actual or anticipated public financing for the project: None
14.
Describe how the Property has become undesirable for or impossible of normal development anti occupancy because of lack of development, cessation of growth, deterioration of i proements or character of occupancy, age, obsolescence, substandard buildings, or other factors, which have impaired values and prevent a normal development of the property or property use:
Real property tax abatement is critical to develop the property to its highest and best use which is Class A Office/Warehouse and Distribution use.
15.
The Property is located in the fol1owin Allocation Area (IC any) declared and.
confirmed by the Plainfield Redesclopment Commission: Six PoInts 1 IF District
16.
The following person (s) should be contacted as the petitioners agent regarding additional information and public notifications:
Name: ddress City, State, Zip Code: Telephone:
John Cumming. Strategic Capital Partners 5900 kstonc C uosm Stntc 100 Indianapolis. IN 46240 31 ?-S.l9l 889
4
VII.EREFORE. Petitioner requests that the town Council of the Toisu of Pbtnfield Indiana, ulopt du.daz to s so1utton d&%ign itmg tht .irca cksuibi.d herein to be an eeonomh revitalization area for pur oses of real property ta
abatement consideration, and after publication of notice and public hearing. determine qualifications for an economic resitalization area have been met and confirm such Resolution. Petitioner hereby verifies that the required 525OJJO fifing fee to cover processing sand adnnmstrative costs pursuant to Ordinance 5 97 of the Town of Plain field has been paid in full.
Name of Property Owner (s); Strategic Capital Partners
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:Sined Name)
,
John R. Cnmmng, SVP flneiopnwnt Strategic Capital Partners
Indianapolis Airport
Authority
7800 Cot. H. Wtr Cook MemoAat Or. Indlanapoks, tndhana 4G24 Of/ta..
31
74R7Qsc)4
lax: 3174873034
January 27, 2017
To Whom It May Concern:
The ‘Indianapolis Airport Authority (‘iAA), which is the current owner of land parcels (listed below) located in Plainfield, indiana, authorizes Strategic Capital Partners (“5Cr) to submit the attached application for real property tax abatement In conjunction with its future acquisition of these land parcels and new development project known as Metro Air Business Park Building 6. Should this future land acquisition by SCP not occur and IAA retain ownership of these land parcels, this application shall be void and have no binding effect on IM or these land parcels” -
21-2-32-52E-100-004 %123%5%E40O00S 21-2-3252E-10&.006 2i-2-3%-S2E-l0O007 2l-Z-3%5%E-1O000S 2l-2-3252E-100-009 21-%-32-52E-1000l0 21-%-32-52E-100-011 21•2-32-52E400012 %123%-52E-1OG-014 21-232-S2E40O-0iS 21-2-3%52E-i0G017 21-2-32-52E-100018 21-2-32-52R100013 21 -2-32-52E-100-016
Smcereiy,
Eric Anderson Director of Properties
wsndianapottsalrportcom
—
STATEMENT OF BENEFITS REAL ESTATE IMPROVEMENTS P’
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Strategtc Capstal Partners or an air Icate ‘hereo A rsn%vt3apayc (crcc-’erwr’d nw
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John B Curnming
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Deveioarnent
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XHIBITA DESCiIPTtON PER FIRSTAMERICAN TTt INSUREANC COMPANY nILE INSURANCE COMMITMENT— FILE NO,: NCS-7121144NDY Parcel 1 Part of the Northwest Quarter of Section .32, Township 15 North, Range 2 East in Hendricks County, Indiana, mote particularly described as follows: Beginning at a mag nail with washer stamped Cripe Firm No. 055 (hereinafter referred to as a mag nail) at the Southeast corner of the Northwest Quarter of said section 32; thence North 00 degrees 23 minutes 29 seconds East (assumed bearing) along the east line of said Northwest Quarter of said section 32; thence North 00 degrees 23 minutes 29 seconds East (assumed bearing) along the east line of said Northwest Quarter 1368.00 feet to the Northeast Corner of land described in deed recorded 301, page 852, recorded in the office of the recorder of Hendricks County, Indiana and a cut +; thence North 89 degrees 59 minutes 55 seconds West parallel with the South line of said Northwest Quarter 772,10 feet to the Northwest corner of land described indeed record 301, page 406, recorded in said recorder’s office and and 5/8 inch diameter rebar with a yellow plastic cap stamped Cripe firm No. 055 (hereafter referred to as a rebar); thence South 00 degrees 23 minutes 29 seconds West parallet with the East line of said northwest qua rter?23.00 feet to the Southwest Corner of land described in deed record 303, Page 419, recorded in said recorder’s office; thence South 89 degrees 59 minutes 55 seconds East along the south line of said described land and parallel with the South line of said Northwest Quarter 191.30 feet to the Northwest corner of land described in deed record 312, page 3, recorded in said recorder’s office and a rebar; thence South 00 degrees 23 minutes 29 seconds West along the west line of said described land and parallel with the East line of said Northwest Quarter 150,00 feet to the North line of land descibed in deed record 199, page 605, recorded in said recorder’s office; thence North 89 degrees 59 minutes 55 seconds West along said North lIne and parallel with the South line of said Northwest Quarter 191.30 feet to the Northwest corner thereof; thence South 00 degrees 23 minutes 29 seconds West along the North line of said described land and parallel with the East line of said Northwest Quarter 146.52 feet to the Northeast corner of land described in tnstrument No, 1980012353, recorded in said recorder’s office and a rebar; thence North 89 degrees 59 minutes 55 seconds West along the North line of said described land and parallel with the South line of said Northwest Quarter 125.00 feet to the Northwest corner thereof; thence South 00 degrees 23 minutes 29 seconds West along the West line of said decribed land and parallel with the East line of said Northwest Quarter 348.48 feet to the South line of said Northwest Quarter and a mag nail; thence South 89 degrees 59 minutes 55 seconds East 897.10 feet to the Point of Beginning, containing 24.588 acres, more or less,
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This resolution shall be effective upon passage.
ADOPTED: February 6, 2017
PLAINFIELD REDEVELOPMENT COMMISSION
Presie t Attest:
TOVN OF PL&NHELD PETI HON FOR REAL PROPERTY TAX ABATEMENr CONSI1)ERA [IoN
The undersigned owner (s) of real property. located within the Town of Plainfield, Ifereby petition the [own Council of the Town of Plainfield for real property tax abatement consideration and pursuant to Lc.6 Ii 12. 1 1, ci, Seq, and Town of Plainfield Ordinance No. 5 97 for this petition states the following: —
—
—
—
1.
Describe the proposed redevelopment or rehabilitation project, including information about physical improvements to be made, the amount of land t:o be used, and estimate of the cost of the project, the proposed use of the improvements, and a general statement as to the importance of the projeci to our business:
The proposed project is a new speculative (lass A office warehouse building consisting of approximately 382 J’54 square feet The site is approximately 25.97 acres. Site improvements will include approximately 237 car parking Spaces. 52 trailer parking spaces and Ofl5ite detention. The projected total project costs are S2OJOuiJXttl. Projected use of the building is ofiice.warehouse and distribution which is consistent with current zoning tor the property. ‘1 his type of development is the core locus of Strategic Capital Partners. The project is not financially viable without real property tax abatement. 2.
The redevelopment or rehabilitation project itself will create Till) new, permanent jobs iuthin the first star repnsentmg a ness annual pas roll of S Till) and will maintain Till) existing permanent parttime jobs with an annual payroll of $ Till). The project annual salaries for each new position created are estimated to be as follows:
l)ue to the speculative nature of the project, it is not possible to detemiine the exact number ofjohs that will be created and resulting payroll br the first year.
3.
Estimate the dollar value of the redevelopment or rehabilitation project: S20,7(X),000OO,
4.
(a) The real property for which tax abatement consideration is petitioned (Properts) is ossned or to be onned hi the follosstng mdniduals or corporatwns (if the business organization is publicly held, indicate also the name of the
1
corporate parent, if any, anfi the name under which the corporation has filed with the Sccurities and Exchange Commission): NAMF. StrLtg( spit ml I’ irtoers
INTEREST 100
ADDRESS %Ot) kmtone C ronn Suik 100 Indianapolis. IN 46240
b) The followIng other persons lease, intend to lease, or have an option to boy the Property (include corporate intrmation as required in (4 (a) above, if applicable): IN”TFREST
A[)i)R[SS \AMh I BD duc. to the ‘pukitiu. nmwt. ot th ptoJct
te) A br C dwurptiun of the oerII tntture of tiw I,uinc ud ofb operations occurring at the Property: TBI)
due to the speculative nature of the project.
5. The commonly known address of the Property is: NA
A legal description of which is attached hereto, marked “ Exhibit A incorporated herein. The Key Number of said property is: See attached list of parcels.
2
“,
and
6. A map and I or pint describing the Property is attached hereto, marked Eih.ibit B and incorporated herein. ‘.
7. The current assessed valuation of the real property before rehabilitation, redevelopment, economic revitalization, or improvement: Combined 16 parcels: $145,300 8. List the real and personal property taxes paid at the location during the previous Five years, whether paid by the current owner or a previous owner: YEA.R 2016 2015 2014 2013 2012 9.
PE1.SONAL PROPERTY TAXES N/A N/A N/A N/A N/A
RE.%i. PROPERTY TAXES SO (exempt) SO (exempt) 50 (exempt) 50 (exempt) SO (exempt)
What is your best estimate of the after Property:
—
rehabilitation market same of the
S20,700,tKX30O 10. No building permit has been issued for construction on the property in connection with the improvement in question as of the date of filing of this petition. The signature below is verification of this statement. 11. Th.e Standard Industrial Classification Manual major group ssithin which the proposed project would be classified, by number and description: Division F: Major Group 42: Motor Freight Transportation and Warehousing Industrs bioup 42% General V arehousmb md Stot ip.
12.
The Internal Revenue Service Code of Principal Business Activity by sihich the proposed project would be classified, by number and description:
1.117.15 (01-01-2006) 1’mnsportation and Warehousing
3
13.
Describe actual or anticipated public financing for the project: None
14.
Describe how the Property has become undesirable for or impossible of normal development anti occupancy because of lack of development, cessation of growth, deterioration of i proements or character of occupancy, age, obsolescence, substandard buildings, or other factors, which have impaired values and prevent a normal development of the property or property use:
Real property tax abatement is critical to develop the property to its highest and best use which is Class A Office/Warehouse and Distribution use.
15.
The Property is located in the fol1owin Allocation Area (IC any) declared and.
confirmed by the Plainfield Redesclopment Commission: Six PoInts 1 IF District
16.
The following person (s) should be contacted as the petitioners agent regarding additional information and public notifications:
Name: ddress City, State, Zip Code: Telephone:
John Cumming. Strategic Capital Partners 5900 kstonc C uosm Stntc 100 Indianapolis. IN 46240 31 ?-S.l9l 889
4
VII.EREFORE. Petitioner requests that the town Council of the Toisu of Pbtnfield Indiana, ulopt du.daz to s so1utton d&%ign itmg tht .irca cksuibi.d herein to be an eeonomh revitalization area for pur oses of real property ta
abatement consideration, and after publication of notice and public hearing. determine qualifications for an economic resitalization area have been met and confirm such Resolution. Petitioner hereby verifies that the required 525OJJO fifing fee to cover processing sand adnnmstrative costs pursuant to Ordinance 5 97 of the Town of Plain field has been paid in full.
Name of Property Owner (s); Strategic Capital Partners
iSs
‘/‘L
‘J
:Sined Name)
,
John R. Cnmmng, SVP flneiopnwnt Strategic Capital Partners
Indianapolis Airport
Authority
7800 Cot. H. Wtr Cook MemoAat Or. Indlanapoks, tndhana 4G24 Of/ta..
31
74R7Qsc)4
lax: 3174873034
January 27, 2017
To Whom It May Concern:
The ‘Indianapolis Airport Authority (‘iAA), which is the current owner of land parcels (listed below) located in Plainfield, indiana, authorizes Strategic Capital Partners (“5Cr) to submit the attached application for real property tax abatement In conjunction with its future acquisition of these land parcels and new development project known as Metro Air Business Park Building 6. Should this future land acquisition by SCP not occur and IAA retain ownership of these land parcels, this application shall be void and have no binding effect on IM or these land parcels” -
21-2-32-52E-100-004 %123%5%E40O00S 21-2-3252E-10&.006 2i-2-3%-S2E-l0O007 2l-Z-3%5%E-1O000S 2l-2-3252E-100-009 21-%-32-52E-1000l0 21-%-32-52E-100-011 21•2-32-52E400012 %123%-52E-1OG-014 21-232-S2E40O-0iS 21-2-3%52E-i0G017 21-2-32-52E-100018 21-2-32-52R100013 21 -2-32-52E-100-016
Smcereiy,
Eric Anderson Director of Properties
wsndianapottsalrportcom
—
STATEMENT OF BENEFITS REAL ESTATE IMPROVEMENTS P’
StaiG tfli
TNa t.at.-ner4 a be
;
c..
v
-ta’ri
‘Ge nea p—efecflj t’aa’,,
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TAXPAYER
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Strategtc Capstal Partners or an air Icate ‘hereo A rsn%vt3apayc (crcc-’erwr’d nw
c Ca a—’
3-’ne
8900 Keystone Crossing r.
Nna
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g’afl I
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“-ne
,nbr
( 317 a 819-1889
John B Curnming
ncØakMeqcczptapa.flnconc
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as6abeesrnMbe’
—
Tes’ of fla nteIJ, County of [(ercdnrks c’
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XHIBITA DESCiIPTtON PER FIRSTAMERICAN TTt INSUREANC COMPANY nILE INSURANCE COMMITMENT— FILE NO,: NCS-7121144NDY Parcel 1 Part of the Northwest Quarter of Section .32, Township 15 North, Range 2 East in Hendricks County, Indiana, mote particularly described as follows: Beginning at a mag nail with washer stamped Cripe Firm No. 055 (hereinafter referred to as a mag nail) at the Southeast corner of the Northwest Quarter of said section 32; thence North 00 degrees 23 minutes 29 seconds East (assumed bearing) along the east line of said Northwest Quarter of said section 32; thence North 00 degrees 23 minutes 29 seconds East (assumed bearing) along the east line of said Northwest Quarter 1368.00 feet to the Northeast Corner of land described in deed recorded 301, page 852, recorded in the office of the recorder of Hendricks County, Indiana and a cut +; thence North 89 degrees 59 minutes 55 seconds West parallel with the South line of said Northwest Quarter 772,10 feet to the Northwest corner of land described indeed record 301, page 406, recorded in said recorder’s office and and 5/8 inch diameter rebar with a yellow plastic cap stamped Cripe firm No. 055 (hereafter referred to as a rebar); thence South 00 degrees 23 minutes 29 seconds West parallet with the East line of said northwest qua rter?23.00 feet to the Southwest Corner of land described in deed record 303, Page 419, recorded in said recorder’s office; thence South 89 degrees 59 minutes 55 seconds East along the south line of said described land and parallel with the South line of said Northwest Quarter 191.30 feet to the Northwest corner of land described in deed record 312, page 3, recorded in said recorder’s office and a rebar; thence South 00 degrees 23 minutes 29 seconds West along the west line of said described land and parallel with the East line of said Northwest Quarter 150,00 feet to the North line of land descibed in deed record 199, page 605, recorded in said recorder’s office; thence North 89 degrees 59 minutes 55 seconds West along said North lIne and parallel with the South line of said Northwest Quarter 191.30 feet to the Northwest corner thereof; thence South 00 degrees 23 minutes 29 seconds West along the North line of said described land and parallel with the East line of said Northwest Quarter 146.52 feet to the Northeast corner of land described in tnstrument No, 1980012353, recorded in said recorder’s office and a rebar; thence North 89 degrees 59 minutes 55 seconds West along the North line of said described land and parallel with the South line of said Northwest Quarter 125.00 feet to the Northwest corner thereof; thence South 00 degrees 23 minutes 29 seconds West along the West line of said decribed land and parallel with the East line of said Northwest Quarter 348.48 feet to the South line of said Northwest Quarter and a mag nail; thence South 89 degrees 59 minutes 55 seconds East 897.10 feet to the Point of Beginning, containing 24.588 acres, more or less,
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