Parke County Resolution 2019-21
PARKE COUNTY
RESOLUTION 2019-21
Amending Parke County Resolution 2014-01, 2015-09 and 2016-06, 2019-02, a Capital Improvement Plan for the Expenditure of EDIT Tax
WHEREAS, the Indiana General Assembly has authorized counties to impose a county economic development income tax (“EDIT”) on the adjusted gross income of county taxpayers, in accordance with I.C. 603.5-7 (“Act”);
WHEREAS, Parke County (“County”) has imposed EDIT at a rate of twenty-five hundredths of one percent (0.25%) annually on the adjusted gross income of County taxpayers;
WHEREAS, the Act provides that a county, city or town which fails to adopt a capital improvement plan may not receive (1) its fractional amount of the certified distribution of revenues from EDIT (“Distributive Share”); or (2) any amount of EDIT revenues designated for its use by a city or town in the county;
WHEREAS, the County will receive its Distributive Share upon adoption of this Capital Improvement Plan; and
WHEREAS, the County now desires to use its EDIT revenues to finance certain projects and improvements as authorized by the Act;
NOW, THEREFORE, BE IT ORDERED AND RESOLVED THAT:
- The Parke County Board of Commissioners hereby adopts the Capital Improvement Plan attached hereto as the Capital Improvement Plan of the County.
- The Capital Improvement Plan, upon adoption, renders any prior Parke County Capital Improvement Plan Resolution null and void.
- The Capital Improvement Plan will become effective upon passage.
Passed and adopted this 16 day of September, 2019.
Parke County Board of Commissioners
Jim Meece, President
Dan Collom, Member
Bruce Hartman, Member
Attest:
Laura J. Fischer, Parke County Auditor
Parke County, Indiana
Economic Development Tax Capital Improvement Plan
Introduction
This document is the Capital Improvement Plan (the “Plan”) for Parke County, Indiana (the “County”). It is intended for adoption by the Parke County Board of Commissioners (the “Commissioners”) in conformance with I.C. 6-3.5-7
Plan Objectives
I.C. 6-3.5-7-15 requires the adoption of the Plan by the Commissioners befoe the County may receive its certified distribution of revenues from the Economic Development Income Tax (“EDIT”). The Plan must specify the uses for which the County proposes to use its EDIT distribution.
Term
The term of the Plan is nine (9) years from the date of its adoption and incorporates expenditures of the County’s EDIT distributions for the years 2019 and 2027.
Use of EDIT Revenues
The County intends on using its EDIT distributions to provide funding to be used to purchase materials and to purchase or rent equipment to construct, maintain and improve all county roads. The County further intends to utilize EDIT distributions for any and all purposes allowable under Indiana law including, but not limited to, those purposes set forth in I.C. 6-3.5-7-13.1.
Description of Capital and Economic Development Projects (“Projects”)
Project 1
General Description: Construct, maintain and improve county roads. The purchase, lease(s) and/or rental of equipment; Supplies: Personal Services, including, but not limited to salaries, insurance benefits, overtime and/or additional compensation, retirement benefits, and any other payroll or benefit payment for Parke County Highway Department personnel.
Estimated Total Cost: $3,593,200.00 over the term of nine (9) years.
Sources of Funding: EDIT Distributions
Planning, Development and Construction Schedule: The planning and construction schedule for 2019 through 2026 will be established by the Parke County Highway Supervisor.
Estimated EDIT Distribution to be Applied:
2019 – $401,200.00
2020 – $399,000.00
2021 – $399,000.00
2022 – $399,000.00
2023 – $399,000.00
2024 – $399,000.00
2025 – $399,000.00
2026 – $399,000.00
2027 – $399,000.00
Project 2
General Description: Repayment of public works loans used for the repair and renovation of the Parke County Courthouse upper level(s), roof, gutters, masonry. Two public works notes were established; one note through Old National Bank and the second note through Frist Financial Bank.
Estimated Total Cost: $1,060,679.00 over the term of nine (9) years.
Sources of Funding: EDIT Distributions
Payment notices from each financial institution will be sent to the Parke County Auditor’s office twice per year, the County Auditor shall prepare an accounts payables voucher and a County warrant (check) for payment to the lenders. Copies of all documents shall be presented to the Board of Commissioners for final approval.
Estimated EDIT Distribution to be Applied:
2019 – $140,036.00
2020 – $140,036.00
2021 – $140,036.00
2022 – $140,036.00
2023 – $140,036.00
2024 – $140,036.00
2025 – $107,692.00
2026 – $ 75,482.00
2027 – $ 37,289.00
Project 3
General Description: Purchase of police vehicles, including equipment.
Estimated Total Cost: $75,000.00 over one (1) year period.
Sources of Funding; EDIT Distributions
The Parke County Sheriff will be responsible for ordering, taking delivery of and equipping vehicles in 2019, the Sheriff will present the bill of sale and accounts payables vouchers for all purchases related to vehicles. The Parke County Board of Commissioners will have final approval.
Estimated EDIT Distribution to be Applied; 2019 – $75,000.00
Project 4
General Description: Contracted Economic Development Services, provided by Partnership Parke County. Initial agreement is for three years with an option to renew. Oversight provided by the Parke County Economic Redevelopment Committee which include appointed members of the Parke County Board of Commissioners and County Council.
Estimated Total Cost: $450,000.00 over a nine (9) year period.
Sources of Funding: EDIT Distributions:
2019 – $50,000.00
2020 – $50,000.00
2021 – $50,000.00
2022 – $50,000.00
2023 – $50,000.00
2024 – $50,000.00
2025 – $50,000.00
2026 – $50,000.00
2027 – $50,000.00
Project 5
General Description: Repairs, renovations, replacement and maintenance to the Parke County Courthouse; including but not limited to the heating and cooling system for the building, electronic monitoring system for the building (heating, cooling, lighting, etc…) and repairs and renovation to the Courthouse roof, rain guttering, downspouts, interior and exterior paint, and repairs to walls and ceiling.
Estimated Total Cost: $891,000.00 over a nine (9) year period.
Sources of Funding: EDIT Distributions
Estimated EDIT to be Applied:
2019 – $99,000.00
2020 – $99,000.00
2021 – $99,000.00
2022 – $99,000.00
2023 – $99,000.00
2024 – $99,000.00
2025 – $99,000.00
2026 – $99,000.00
2027 – $99,000.00
Project 6
General Description: repairs, replacement, upgrades, and associated contracted work on the control system, camera system, and associated peripheral systems at the county jail.
Estimated Total Cost: $225,000 over a one (1) year period
Sources of Funding: EDIT Distributions
Estimated EDIT Distribution to be Applied:
2019 – $225,000.00
Seventy-five Percent (75%) Test
In accordance with I.C. 6-3.5-7-15, the Plan incorporates projects the cost of which is at least seventy-five percent (75%) of the certified distribution of EDIT the County expects to receive during the term of the Plan as follows:
Expenditures from EDIT for the term of the Plan:
Project 1 $3,593,200.00
Project 2 $1,060,679.00
Project 3 $ 75,000.00
Project 4 $ 450,000.00
Project 5 $ 891,000.00
Project 6 $ 225,000.00
TOTAL $6,294,879.00
Yearly County Certified Distribution for the term of the Plan:
2019 $600,298.00
2020 $844,545.00 (estimated)
2021 $861,436.00 (estimated)
2022 $878,664.00 (estimated)
2023 $896,237.00 (estimated)
2024 $914,162.00 (estimated)
2025 $932,445.00 (estimated)
2026 $951,094.00 (estimated)
2027 $970,116.00 (estimated)
TOTAL $7,848,997.00
Total Estimated County Certified Distribution for the term of the Plan: $7,848,997.00
Seventy-five (75%) of estimated distributions: $5,886,747.75
Amount of Certified Distribution allocated to Projects for the term of the Plan: $6,294,879.00
Percentage of Certified Distribution allocated to Projects for the term of the Plan: 80.200%