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PETITION TO CREATE THE MASS AVE ECONOMIC IMPROVEMENT DISTRICT WHEREAS, economic and community development are a central and vital priority of the City of Indianapolis and Marion County, Indiana; WHEREAS, local businesses and residents are directly in a position to understand and manage the economic and development needs of their community and neighborhoods; WHEREAS, the businesses and residents of Mass Ave, located in Indianapolis, Indiana, have after considerable evaluation and planning, developed the Mass Ave Economic Improvement District Management Plan (the “Plan”), attached and incorporated by reference hereto, and have determined and concluded that the establishment and creation of the Mass Ave Economic Improvement District (the “Mass Ave EID” or “EID”), pursuant to Indiana Code 36-7-22, is in the best interest of the Mass Ave community and the City of Indianapolis; WHEREAS, the Mass Ave Economic Improvement District will create a long-term, sustainable financing source for improving Mass Ave that will supplement current resources at work, while providing additional funds and leverage for enhancements and improvements that will be overseen by the community through an EID Board that will be supported by local stakeholders who are accountable for the effective management and future development of Mass Ave and will provide the opportunity to respond more effectively to the changing needs of the business district’s environment; now, therefore, BE IT RESOLVED BY THE UNDERSIGNED PETITIONERS, being at least a majority of all the owners of real property within the proposed Mass Ave EID, and being owners of real property constituting at least a majority of the assessed valuation of the proposed EID (the “Petitioners”), hereby petition the City-County Council of Indianapolis and Marion County, Indiana pursuant to Indiana Code 36-7-22 as follows: Section 1. EID Boundaries. To designate and create the “Mass Ave Economic Improvement District” in the City of Indianapolis, Marion County, Indiana, with the boundaries as described below: Mass Ave EID Boundary Description: Beginning at New York Street and Delaware, north to Allegheny Street to Hudson Street, north on Hudson Street, east on Michigan Street to Alabama Street, north on Alabama to North Street, east on North Street to New Jersey Street, New Jersey north to Walnut Street, east on Walnut Street (in general) to Park Avenue, north on Park to St. Clair Street, east on St. Clair to College Ave, north on College Ave to 10th Street, east on 10th to Bellefontaine Street, south on Bellefontaine to 9th Street/ Davidson Street to St. Clair Street, west on St. Clair to College Avenue, south on College to Michigan Street, west on Michigan to Park Avenue, north on Park Avenue to North Street, west on North Street to Leon Street, south on Leon Street to Michigan Street, west on Michigan to East Street, south on East Street to Vermont Street, west on Vermont Street to New Jersey Street, south on New Jersey to New York Street, west on New York to Delaware.
*** DRAFT *** Mass Ave Economic Improvement District
A description of all parcel information of those properties included within the Mass Ave EID is included on Exhibit A. Parcels not included on Exhibit A are not included within the boundaries of the Mass Ave EID. Single-family detached housing, condominiums and Section 8 and Section 42 properties are not included within the Mass Ave EID boundaries. Section 2. EID Authority. To authorize and grant the EID Board charged with overseeing and managing the Mass Ave EID the authority to manage and implement the economic improvement projects to be carried out within the Mass Ave EID as specified herein and pursuant to the Mass Ave Economic Improvement District Management Plan, and the authority to impose an EID assessment to be placed on each parcel of property within the Mass Ave EID (the “EID Assessment”), and any other powers and authority necessary to further the purpose of the EID, pursuant to Indiana Code 36-7-22. Section 3. Mass Ave Economic Improvement District Management Plan – Projects, Costs, and Benefits. The Mass Ave EID economic improvement projects that will provide benefits accruing to the Mass Ave EID property owners shall include but not be limited to:
Capital Improvements: Investments to beautify and improve the infrastructure of the Mass Ave
EID, including: Streetscape improvements and enhancements, decorative sidewalks, lighting, benches, landscaping and amenities
*** DRAFT *** Gateways, signage and public art that provide Mass Ave EID and Mass Ave Cultural District identity Seasonal banners and decorations Special projects to beautify and improve public spaces Temporary and permanent public art, murals and sculptures Planning and design expenditures
Economic Development: Services to recruit, retain and incubate new businesses and investment
in the Mass Ave EID, including: Small business support services Investor marketing information specific to Mass Ave including market research Consumer marketing, promotions and special events Festival support for activities on Mass Ave Enhanced and maintained Mass Ave Cultural District website
Streetscape and Enhanced Maintenance: Financial support for enhanced cleaning and
maintenance in the Mass Ave EID, including: Maintenance of existing and proposed streetscape enhancements in Mass Ave - landscape, lighting, signage, etc. Enhanced sanitation including sidewalk power washing, litter cleanup and graffiti removal
Transportation: Investments to increase multi-modal opportunities on Mass Ave including:
Bike parking Indy Go service and bus stops Private trolley/bus service during special events in the City and on Mass Ave
Administration: Staffing to support and administer programs within the EID structure.
Section 4. EID Assessment Revenue Allocation. EID assessment revenues shall be applied to the cost of the economic improvement projects within the EID and shall be used to pay for the estimated costs of these projects as detailed within the following budgetary plan: Mass Ave EID – Proposed First-Year Funding Allocation: Mass Ave EID Service Capital Improvements Economic Development Streetscape and Enhanced Maintenance Administration Allocation 30-50% 15-25% 20-40% 10-20%
*** DRAFT *** Mass Ave EID funds will be leveraged with additional resources public resources and grants to subsidize large capital improvement projects. The Mass Ave EID first year budget will be approximately [$75,000-95,000]. Section 5. EID Assessment Formula. To authorize the proposed formula for determining the percentage of the total benefit to be received by each parcel of property in the Mass Ave EID as follows: Commercial/Office/Parking/Apartment Property: The EID Assessment for properties commonly known as or classified as Commercial, Office or Parking Property shall be calculated based upon the assessed value of the parcel multiplied by 0.15% (0.0015). Thus a $100,000 AV property will have a $150 annual assessment. Tax-Exempt Property: Properties commonly known as or classified as tax-exempt shall be calculated based upon the assessed value of the parcel multiplied by 0.075% (0.00075). Thus a $100,000 AV property will have a $75 annual assessment. EXCLUSIONS: Churches Tax-exempt owned by Township/City/County government and Indianapolis Public School System properties shall not be assessed an EID Assessment. Single-family Detached Housing, Condominiums, Section 8 and Section 42 Housing, and Vacant Land: Single-family detached housing, condominiums and Section 8 and Section 42 properties are NOT included within the Mass Ave EID boundaries and therefore will NOT be assessed an EID Assessment. Section 8 and Section 42 housing exemptions shall be calculated per square foot percentage. The exempt square footage shall be deducted from the total square footage. The reduced square footage percentage shall be applied to the total AV for a new AV total. Example: Current AV $100,000 with 20% of building being Section 8/42. The new AV amount for the assessment is ($100,000*80%) $80,000. State recognized documentation shall be submitted to receive Section 8 or Section 42 housing square footage deduction. Vacant land, as designated by the Marion County Assessors offices is excluded from the EID Assessment. EID Assessments shall be calculated annually by the EID Board and collected in two installments on the property tax statement of each parcel. EID Assessment are not considered property taxes and are not included in the property tax liability of a parcel for purposes of Indiana Code 6-1.1-20.6. Section 6. Term of Assessments. The EID Assessments shall be collected for a period of ten (10) years from the collection-date of the first EID Assessment. Five years from the date of establishment the EID Board shall evaluate and measure the success of the district improvements, maintenance, support and programs. If the Board determines the EID District is not succeeding by implementing the aforementioned projects, the Board shall dissolve the EID District. <<<Add Measurement of goals, see section above>>>
*** DRAFT ***
Section 7. EID Board Members. The Mass Ave EID shall be governed by an Mass Ave EID Board of Mass Ave business and property owners, composed of representatives of the owners of property within the Mass Ave EID and invested stakeholders of the Mass Ave Cultural District. The EID Board of Directors shall be an nine (9) member board, each with three (3)year terms, with the following representation: 1. 2. 3. 4. 5. 6. 7. 8. 9. One representative of the 300 series of addresses, One representative of the 400 series of addresses, One representative of the 500 series of addresses, One representative of the 600 series of addresses, One representative of the 700 series of addresses, One representative of the 800/900 series of addresses, One representative of the Riley Area Development Corporation, and At-Large Member One representative of Mass Ave Merchants Association
Six (6) of the nine (9) Board Members shall be property-owners within the EID District. The initial Board shall have staggered term limits, continuing the 6/9 property-owner distribution. Initial staggered terms shall be: three at 2 years, three at 3 years, and three at 4 years. The following shall be appointed as the initial Mass Ave EID Board of Directors with the following initial terms: 1. 300 Series Representative: 2. 400 Series Representative: David Andrichik, Property Owner 3. 500 Series Representative: Cassie Stockamp, Property Owner 4. 600 Series Representative: Don Elliott, The Frame Shop/Franklin Barry Gallery 5. 700 Series Representative: William Pritt, Property Owner 6. 800/900 Series Representative: Elizabeth Garber, Best Chocolate in Town, Business Owner 7. Riley Area Development Corporation Representative: Susan Vogt 8. Mass Ave Merchants Association Representative: Scott Johnson, Property Owner 9. At-Large Representative: Brian Murphy, Property Owner
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