That the Argos Town Council passed Resolution No. 2018-6, entitled a Resolution of the Town of Argos, Indiana Declaring Certain Real Estate to be within an “Economic Revitalization Area” Pursuant to Indiana Code 6-1.1- 12.1 et. seq., at a regularly scheduled meeting on May 2, 2018. A public hearing to receive and hear all remonstrances and objections from interested persons will be held on June 6, 2018 at 7:15 pm in the Town of Argos Municipal Building located at 201 West Walnut Street, Argos, Indiana. A description of the affected area is available and can be inspected in the county assessor’s office. The substance of the Resolution is that the Marshall County Economic Development Corporation (MCEDC) has petitioned the Town Council to find a certain tract of real estate (“Real Estate”), described as 17.82 acres of land, parcel number 502290304006002016, to be declared an economic revitalization area as defined because the parcel has become undesirable for, or impossible for normal development and occupancy because of a lack of development, cessation of growth, deterioration of character of occupancy, and other factors which have impaired values and prevented the normal development of the property and its use. The Town Council of the Town of Argos, after examining the application of MCEDC, and after hearing
evidence thereon has determined that the Real Estate does in fact lie within the corporate limits of the Town of Argos and the same should be designated an economic revitalization area in accordance with Indiana Code 6-1.1- 12.1-1 through and including Indiana Code 6-1.1- 12.1-6. That the Town Council further provided a preliminary waiver of noncompliance in accordance with Indiana Code 6-1.1- 12.1-11.3 and Indiana Code 6-1.1- 12.1-9.5, regarding the failure to submit the completed Statement of Benefits to the designating body before initiation of the redevelopment and failure to designate the Real Estate as an economic revitalization area before initiation of the redevelopment. The Resolution further provided that pursuant to Indiana Code § 6-1.1- 12.1-17, the Town Council determined that the property tax abatement shall be granted for a period of ten (10) years, with the annual amount of the deduction beginning at one-hundred (100%) percent, decreasing by ten (10%) percent each year for the ten (10) year period.