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<br /> <br />RESOLUTION N0.2823 <br />A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION <br />APPROPRIATING TAX INCREMENT FINANCING REVENUES FROM <br />ALLOCATION AREA FUND FOR THE PAYMENT OF CERTAIN OBLIGATIONS <br />AND EXPENSES RELATED TO THE NORTHEAST NEIGHBORHOOD <br />DEVELOPMENT AREA ALLOCATION AREA <br />WHEREAS, the South Bend Redevelopment Commission (the "Commission"), the <br />governing body of the City of South Bend Department of Redevelopment (the "Department''), on <br />November 17, 2003, adopted Resolution No. 2016 declaring the Northeast Neighborhood <br />Development Area in the City of South Bend, Indiana (the "City'") to be an area needing <br />redevelopment within the meaning of the Redevelopment of Cities and Towns Act of 1953, as <br />amended, which is codified at, Indiana Code ~ 36-7-14-1 et seq (the '`Act"); and <br />WHEREAS, Resolution No. 2016 and the Northeast Neighborhood Development Area <br />Development Plan (the "Development Plan") adopted by Resolution No. 2016 on November 17, <br />2003, were confirmed by Resolution No. 2021 adopted on December 19, 2003 (collectively, the <br />"Declaratory Resolution"); and <br />WHEREAS, the Declaratory Resolution created the Northeast Neighborhood Allocation Area <br />Special Fund ("Allocation Area Fund'') for the purpose of depositing into such fund tax increment <br />revenues allocated to the Commission and resulting solely from the increase in the assessed value of <br />real property and improvements thereon located in Allocation Area pursuant to Indiana Code § 36- <br />7-14-39(b)(1)and from the proceeds from the sale or leasing of property in the Area under Indiana <br />Code § 36-7-14-22, all in accordance with Indiana Code § 36-7-14-26; and <br />WHEREAS, the Commission desires to pay certain expenses incurred by it or the City for <br />local public improvements that are in or serving Allocation Area from funds remaining in the <br />Allocation Area Fund, in accordance Indiana Code § 36-7-14-39(b)(2) and certain other <br />expenditures incurred by the Commission in accordance with Indiana Code § 36-7-14-39(b)(2); and <br />WHEREAS, the expenditures incurred or anticipated to be incurred by the Commission <br />proposed to be paid with funds from Allocation Area Fund are described on the attached Exhibit A; <br />and <br />WHEREAS, the proposed appropriations from Allocation Area Fund are not for the operating <br />expenses of the Commission; and <br />WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6-1.1-18-5; <br />and <br />WHEREAS, on January 14, 2011, the Commission adopted Resolution 2818 setting a public <br />hearing on said appropriations for 4:00 p.m. on February 8, 2011 and authorizing the Secretary of the <br />Commission to duly publish notice of said hearing; and <br />