NOTICE OF HEARING ON A PROPOSED LEASE BY THE PLAINFIELD REDEVELOPMENT COMMISSION (Fire Station 121 Project) You are hereby notified that a public hearing pursuant to Indiana Code 5-3-1 and 36-7-14-25.2 will be held before the Plainfield Redevelopment Commission (the "Commission") on August 29, 2016, at the hour of 5:30 p.m. (Eastern Time) in the Plainfield Town Hall, Town Council Meeting Room, located at 206 W. Main Street, Plainfield, Indiana, to consider a proposed lease (the "Lease") between the Plainfield Redevelopment Authority, as lessor, and the Commission, as lessee. The proposed Lease upon which the hearing will be held is for a maximum term of sixteen (16) years, beginning on the effective date of the Lease, with an annual rent, payable in equal semi-annual installments according to the Lease, in a maximum annual lease rent of $1,400,000.00, payable on January 15 and July 15 of each year during the term of the Lease (commencing on the date the Project is completed and available for use or January 15, 2019, whichever is later). The Project consists of various public improvements, including a fire station, of the Commission (and incidental costs associated therewith as described in the Lease) (the "Project"), in, serving or benefiting the Six Points Economic Development Area (the "Area") previously established by the Commission. The Lease rents shall be payable from tax increment revenues generated within the Area or, to the extent such tax increment revenues are insufficient for such purpose, from a special tax levied on all taxable property located within the Plainfield Redevelopment District. The Commission anticipates that it will not be required to levy the special tax because the Commission expects that there will be sufficient funds to pay the rent from tax increment revenues. The proposed Lease further provides for terms concerning the use, maintenance, repair, operating and utility costs, indemnification and insurance, destruction of the Project, defaults, remedies, options to purchase and miscellaneous other matters. A copy of the proposed Lease is available for inspection by the public on all business days, during business hours, at the office of the Clerk-Treasurer, Plainfield Town Hall, 206 W. Main Street, Plainfield, Indiana 46168. At such hearing all persons interested shall have a right to be heard upon the necessity for the execution of such Lease, and upon the proposed lease terms and rents. After the hearing, which may be adjourned from time to time, the Commission may adopt a resolution authorizing the execution of the proposed Lease on behalf of the Town of Plainfield, Indiana if it finds that the service to be provided throughout the term of the proposed Lease will serve the public purpose and is in the best interests of its residents and that the Lease rent provided for is fair and reasonable. The Commission may modify the proposed Lease after the hearing but may not increase the rent as set forth in this notice. Dated this 17th day of August, 2016. PLAINFIELD REDEVELOPMENT COMMISSION By: /Secretary/ HCF-630 08/17 #1227715 hspaxlp
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