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No. 2206 ratify/confirmation resolution no. 2199 designating douglas road EDA, approving a develop plan and conditions which relocation pmts will be made and establishing allocation area for tax incremental financing within douglas road EDA
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No. 2206 ratify/confirmation resolution no. 2199 designating douglas road EDA, approving a develop plan and conditions which relocation pmts will be made and establishing allocation area for tax incremental financing within douglas road EDA
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• <br />• <br />is <br />solely or in part from allocated tax proceeds in Allocation Area No. 1. <br />(f) Make payments on leases payable from allocated tax proceeds in <br />Allocation Area No. 1 under I.C. 36 -7 -14 -25.2. <br />(g) Reimburse the unit for expenditures made by it for local public <br />improvements (which include buildings, parking facilities, and other items <br />described in I.C. 36- 7- 14- 25.1(a) in or serving Allocation Area No. 1. <br />(h) Reimburse the unit for rentals paid by it for a building or parking <br />facility in or serving Allocation Area No. 1 under any lease entered into <br />pursuant to IC 36 -1 -10. <br />(i) Pay all or a part of a property tax replacement credit to taxpayers in <br />Allocation Area No. 1 as determined by the Commission. <br />0) Pay expenses incurred by the Commission for local public <br />improvements that are in Allocation Area No. 1 or serving Allocation Area <br />No. 1. Public improvements include buildings, parking facilities, and other <br />items described in I.C. 36 -7 -14- 25.1(a). <br />(k) Reimburse public and private entities for expenses incurred in training <br />employees of industrial facilities that are located: <br />(1) in Allocation Area No. l; and <br />(ii) on a parcel of real property that has been classified as <br />industrial property under the rules of the department of local <br />government finance. <br />(C). When the monies in the allocation fund are sufficient to pay when due all principal <br />and interest on bonds described herein, and is not needed for the other purposes stated herein, <br />monies in Allocation Area No. 1 shall be paid the respective taxing units in the manner <br />provided in subdivision (1) of this section. <br />(D). This allocation provision shall expire no later than thirty (30) years after the date of <br />this Resolution, provided, however that if bonds or other obligations that were scheduled <br />when issued to mature before the specified expiration date and that are payable only from <br />allocated tax proceeds with respect to Allocation Area No. 1 remain outstanding as of the <br />expiration date, the allocation provision does not expire until all of the bonds or other <br />obligations are no longer outstanding in accordance with I.C. 36- 7- 14- 39(b). <br />BE IT FURTHER RESOLVED that the Commission's Declaratory Resolution No. 2199, <br />6 <br />CADOCUMENTS AND SETTINGS\PPALUSZE \LOCAL SETTINGS \TEMP \RES2206 -SBRC CONFIRMATORYDREDA.DOC <br />
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