Resolution 21-2021 - Regarding Certain Real and Personal Property Tax Abatement Deductions

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MOORESVILLE TOWN COUNCIL OF MORGAN COUNTY, INDIANA RESOLUTION NO. 21-2021 RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF MOORESVILLE, INDIANA, APPROVING A WAIVER OF NONCOMPLIANCE FOR A PERSONAL PROPERTY ABATEMENT FOR INNOVATIVE PERFORMANCE TECHNOLOGIES WHEREAS, pursuant to Indiana Code § 6-1.1-12.1-1, et. seq. (the "Act"), the Town of Mooresville, Indiana (the "Town"), by and through its Council acting in its capacity as the fiscal body of the Town and acting as the designating body identified in the Act (the "Council"), has the right and opportunity to abate the payment of personal property taxes for real estate located within an area declared by the Council to be an Economic Revitalization Area; and WHEREAS, pursuant to the Act, the Council may find that a particular area within the jurisdiction of the Town is an Economic Revitalization Area and may by the adoption of a resolution declare such area to be an Economic Revitalization Area, which resolution must subsequently be confirmed, modified, or rescinded by the Council; and WHEREAS, on April 21, 2020, Innovative Performance Technologies, LLC ("Innovative Performance") filed a Statement of Benefits Personal Property Form ("SB- 1/PP"), which is attached hereto as Exhibit A, with the Council, requesting a three-year personal property abatement for the installation of new manufacturing equipment; and WHEREAS, on June 2, 2020, the Council adopted Declaratory Resolution 6-2020, and declared the area identified in Exhibit A as an Economic Revitalization Area, and then on June 16, 2020, the Council adopted, after a public hearing, Confirmatory Resolution 6-2020, approving the three (3) year personal property abatement; and WHEREAS, on August 18, 2020, Innovative Performance filed a second SB-1/PP with the Clerk -Treasurer for the Council's review and consideration, wherein it requested a second three (3) year personal property abatement, and on October 6, 2020, the Council adopted, after a public hearing, Confirmatory Resolution 11-2020, approving the three (3) year personal property abatement; and WHEREAS, pursuant to Indiana Code § 6-1.1-12.1-5.6 and the Indiana Department of Local Government Finance, Innovative is required, for the duration of the