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WHEREAS, with the early redemption of the Bonds, the Commission now <br /> desires to terminate the allocation provisions relating to Allocation Area No. 2 and return the <br /> incremental increases of assessed value that have resulted from the Project in Allocation Area <br /> No. 2 to the benefit of the overlapping taxing units; <br /> NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment <br /> Commission, as follows: <br /> 1. The Commission hereby terminates Allocation Area No. 2 as an allocation <br /> area for purposes of Section 39 of the Act. The Commission desires that all increases of assessed <br /> value resulting from the Project and elsewhere within Allocation Area No. 2 be released for the <br /> benefit of the overlapping taxing units to be effective as of the March 1, 2011 assessment date <br /> for the tax year 2011,pay 2012. <br /> 2. The Commission hereby directs the Department staff to provide such <br /> information as may be inquired by the St. Joseph County Auditor to confirm the termination of <br /> the Allocation Area No. 2 and the TIF allocation provisions with respect to Allocation Area <br /> No. 2 of Resolution No. 2073 previously adopted by the Commission. <br /> 3. The action by the Commission to terminate Allocation Area No. 2 does <br /> not affect the TIF allocation provisions relating to Allocation Area No. 1 and Allocation Area <br /> No. 3. <br /> 4. This resolution shall be in full force and effect after its adoption by the <br /> Commission. <br /> ADOPTED at a meeting of the South Bend Redevelopment Commission held on <br /> March 8, 2011, at Room 1308, County-City Building, 227 W. Jefferson Boulevard, South Bend, <br /> Indiana. <br /> SOUTH BEND REDEVELOPMENT COMMISSION <br /> By: <br /> Marcia l. Jones, President <br /> ATTEST: <br /> Nancy King, Secretary <br /> - 2 - <br /> BDDB01 6567002v 1 <br />