PLAINFIELD REDEVELOPMENT COMMISSIONRESOLUTION NO. 20 17-03

RESOLUTION APPROVING OF REAL PROPERTY TAX ABATEMENTAPPLICATION—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 DevelopmentArea (the “Area”) and one or more allocation areas within the Area, and adopted one or moreeconomic development plans for the Area; and

WHEREAS, Strategic Capital Partners (the “Applicant”) filed with the Town a Petitionfor Real Property Tax Abatement Consideration (the “Application”), pursuant to I.C. 6-1.1-12.11-1 et. seq.; and

WHEREAS, the Application has been reviewed by the staff of the Town and has beenfound 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 whichthe tax abatement is requested is located within the Area; therefore, the Tax AbatementCommittee has forwarded the Application to this Commission for approval.

NOW, THEREFORE, BE IT RESOLVED BY THE PLAfNFIELD REDEVELOPMENTCOMMISSION, THAT:

1. The Commission has reviewed and hereby approves of the Application andinstructs the President of the Commission to forward this resolution to the Tax AbatementCommittee 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&NHELDPETI 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 taxabatement consideration and pursuant to Lc.6 — Ii — 12. 1 — 1, ci, Seq, and Townof Plainfield Ordinance No. 5 — 97 for this petition states the following:

1. Describe the proposed redevelopment or rehabilitation project, includinginformation about physical improvements to be made, the amount of land t:o beused, and estimate of the cost of the project, the proposed use of theimprovements, 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. Siteimprovements will include approximately 237 car parking Spaces. 52 trailer parkingspaces and Ofl5ite detention. The projected total project costs are S2OJOuiJXttl.Projected use of the building is ofiice.warehouse and distribution which is consistentwith 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 taxabatement.

2. The redevelopment or rehabilitation project itself will create Till) new,permanent jobs iuthin the first star repnsentmg a ness annual pas roll of STill) and will maintain Till) existing permanent parttime jobs with an annualpayroll of $ Till). The project annual salaries for each new position created areestimated to be as follows:

l)ue to the speculative nature of the project, it is not possible to detemiine the exactnumber 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 filedwith the Sccurities and Exchange Commission):

NAMF. ADDRESS INTERESTStrLtg( spit ml I’ irtoers %Ot) kmtone C ronn 100

Suik 100

Indianapolis. IN 46240

b) The followIng other persons lease, intend to lease, or have an optionto boy the Property (include corporate intrmation as required in (4 (a) above,if applicable):

\AMh A[)i)R[SS IN”TFRESTI 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 “, andincorporated herein. The Key Number of said property is:See attached list of parcels.

2

6. A map and I or pint describing the Property is attached hereto, markedEih.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 previousFive years, whether paid by the current owner or a previous owner:

YEA.R RE.%i. PROPERTY TAXES PE1.SONAL PROPERTY TAXES2016 SO (exempt) N/A

2015 SO (exempt) N/A2014 50 (exempt) N/A

2013 50 (exempt) N/A

2012 SO (exempt) N/A

9. What is your best estimate of the after — rehabilitation market same of theProperty:

S20,700,tKX30O

10. No building permit has been issued for construction on the property inconnection with the improvement in question as of the date of filing of thispetition. The signature below is verification of this statement.

11. Th.e Standard Industrial Classification Manual major group ssithin which theproposed 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 theproposed project would be classified, by number and description:

1.117.15 (01-01-2006) 1’mnsportation and Warehousing

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13. Describe actual or anticipated public financing for the project:None

14. Describe how the Property has become undesirable for or impossible ofnormal development anti occupancy because of lack of development, cessationof growth, deterioration of i proements or character of occupancy, age,obsolescence, substandard buildings, or other factors, which have impairedvalues 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 usewhich 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 agentregarding additional information and public notifications:

Name: John Cumming. Strategic Capital Partnersddress 5900 kstonc C uosm Stntc 100City, State, Zip Code: Indianapolis. IN 46240Telephone: 31 ?-S.l9l 889

4

VII.EREFORE. Petitioner requests that the town Council of the Toisu ofPbtnfield Indiana, ulopt du.daz to s so1utton d&%ign itmg tht .irca cksuibi.dherein 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 andconfirm such Resolution. Petitioner hereby verifies that the required 525OJJO fifingfee to cover processing sand adnnmstrative costs pursuant to Ordinance 5 97 ofthe 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 flneiopnwntStrategic Capital Partners

Indianapolis Airport Authority

7800 Cot. H. Wtr Cook MemoAat Or.Indlanapoks, tndhana 4G24Of/ta.. 31 74R7Qsc)4lax: 3174873034

January 27, 2017

To Whom It May Concern:

The ‘Indianapolis Airport Authority (‘iAA), which is the current owner of land parcels (listedbelow) located in Plainfield, indiana, authorizes Strategic Capital Partners (“5Cr) to submit theattached application for real property tax abatement In conjunction with its future acquisitionof 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 ofthese land parcels, this application shall be void and have no binding effect on IM or these landparcels”

21-2-32-52E-100-004%123%5%E40O00S21-2-3252E-10&.0062i-2-3%-S2E-l0O0072l-Z-3%5%E-1O000S2l-2-3252E-100-00921-%-32-52E-1000l021-%-32-52E-100-01121•2-32-52E400012%123%-52E-1OG-01421-232-S2E40O-0iS21-2-3%52E-i0G01721-2-32-52E-10001821-2-32-52R10001321 -2-32-52E-100-016

Smcereiy,

Eric AndersonDirector of Properties

wsndianapottsalrportcom

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[ SECTISh I TAXPAYER

Nna r. ,1’n. ,nbr “-ne

John B Curnming ( 317 a 819-1889 ncØakMeqcczptapa.flnconc

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1 hereby certdy Vial the representhtiona ec &:c. Na1etcien wa taar

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Strategtc Capstal Partners or an air Icate ‘hereoA rsn%vt3apayc (crcc-’erwr’d nw c Ca a—’ 3-’ne

8900 Keystone Crossing

SECTIOMS TAflAYER$$TW CATIOM --

Pncrea e—w c-ifl-ana csn-naIv,abve

John B. Cumming t SVP, Deveioarnent

P2cc 1 ofT

XHIBITA

DESCiIPTtON PER FIRSTAMERICAN TTt INSUREANC COMPANYnILE 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 23minutes 29 seconds East (assumed bearing) along the east line of said Northwest Quarter of said section32; thence North 00 degrees 23 minutes 29 seconds East (assumed bearing) along the east line of saidNorthwest Quarter 1368.00 feet to the Northeast Corner of land described in deed recorded 301, page852, recorded in the office of the recorder of Hendricks County, Indiana and a cut +; thence North 89degrees 59 minutes 55 seconds West parallel with the South line of said Northwest Quarter 772,10 feetto the Northwest corner of land described indeed record 301, page 406, recorded in said recorder’soffice and and 5/8 inch diameter rebar with a yellow plastic cap stamped Cripe firm No. 055 (hereafterreferred to as a rebar); thence South 00 degrees 23 minutes 29 seconds West parallet with the East lineof 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 alongthe south line of said described land and parallel with the South line of said Northwest Quarter 191.30feet to the Northwest corner of land described in deed record 312, page 3, recorded in said recorder’soffice and a rebar; thence South 00 degrees 23 minutes 29 seconds West along the west line of saiddescribed land and parallel with the East line of said Northwest Quarter 150,00 feet to the North line ofland descibed in deed record 199, page 605, recorded in said recorder’s office; thence North 89 degrees59 minutes 55 seconds West along said North lIne and parallel with the South line of said NorthwestQuarter 191.30 feet to the Northwest corner thereof; thence South 00 degrees 23 minutes 29 secondsWest along the North line of said described land and parallel with the East line of said NorthwestQuarter 146.52 feet to the Northeast corner of land described in tnstrument No, 1980012353, recordedin said recorder’s office and a rebar; thence North 89 degrees 59 minutes 55 seconds West along theNorth line of said described land and parallel with the South line of said Northwest Quarter 125.00 feetto the Northwest corner thereof; thence South 00 degrees 23 minutes 29 seconds West along the Westline of said decribed land and parallel with the East line of said Northwest Quarter 348.48 feet to theSouth line of said Northwest Quarter and a mag nail; thence South 89 degrees 59 minutes 55 secondsEast 897.10 feet to the Point of Beginning, containing 24.588 acres, more or less,

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