RESOLUTION NO. 2011-01

RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF PLAINFIELD, INDIANA, APPROVING STATEMENT OF BENEFITS


WHEREAS, pursuant to Resolution No. 2004-10 and Resolution No. 2004-11 (the "2004 Resolutions"), the Town Council of the Town of Plainfield, Indiana ("Town Council") has designated an economic revitalization area as described in the 2004 Resolutions (the "ERA");
WHEREAS, pursuant to the 2004 Resolutions, deductions under Ind. Code §6 1.1 12.1 et seq., from the assessed value of real property, included in the ERA, may be approved and allowed by the Town Council for ten (10) year deduction periods;
WHEREAS, Ind. Code §6 1.1 12.1 4.5 requires that a taxpayer file a statement of benefits with the Town Council in order to obtain real property tax abatement in an economic revitalization area;
WHEREAS, Genco Distribution Systems, Inc., has filed with the Town Council a statement of benefits dated December 21, 2010 describing a certain project (a copy of said statement of benefits is attached hereto as Exhibit A) such project, involving personal property tax abatement (hereinafter referred to as the Genco Distribution Systems, Inc., Statement of Benefits"); and
WHEREAS, the Town Council has reviewed and considered Genco Distribution Systems, Inc., Statement of Benefits.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL THAT:
1. Pursuant to the 2004 Resolutions, deductions under Ind. Code §6 1.1 12.1 et seq., from the assessed value of personal property in the ERA, may be approved and allowed by the Town Council for ten (10) year deduction periods.
2. The Genco Distribution Systems, Inc., Statement of Benefits dated December 21, 2010, and attached hereto as Exhibit A, should be and is hereby approved.
3. For Genco Distribution Systems, Inc.,. Statement of Benefits, the Town Council makes the following findings of fact pursuant to Ind. Code §6 1.1 12.1 4.5(b):
a. The estimate value of the personal property is reasonable for this type of development;
b. Other benefits about which information was requested are benefits that can be reasonably expected to result from development of thus type of manufacturing/recycling facility; and
c. The totality of benefits is sufficient to justify the deduction.
4. The Town Council hereby finds and declares that:
a. Deductions from the assessed value of personal property described in the Genco Distribution Systems, Inc., Statement of Benefits approved by this resolution shall be allowed over a ten (10) year deduction period; and
5. The Genco Distribution Systems, Inc.,. Statement of Benefits shall be executed at page 2 thereof by the presiding member of the Town Council and the Town Manager, consistent with this Resolution.
6. This Resolution complies with Ordinance No. 5 97.
7. This Resolution shall become effective immediately upon its adoption.


Adopted this 24th day of January, 2011, by the Town Council of the Town of Plainfield, Indiana.
TOWN COUNCIL OF THE TOWN OF
PLAINFIELD, INDIANA


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Robin G. Brandgard, President


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Bill Kirchoff, Vice President


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Kent McPhail


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Edmund L. Gaddie, Jr.


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Renea S. Whicker


Attested by:



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Clerk-Treasurer of the Town of Plainfield
Hendricks County, Indiana