No. 2661 setting a public hearing on appropriation of TIF revenues from SBCDA for the payment of certain obligations & expenses related to the SBCDA and other related matters

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• RESOLUTION NO. 2661 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION SETTING A PUBLIC HEARING ON THE APPROPRIATION OF TAX INCREMENT FINANCING REVENUES FROM THE SOUTH BEND CENTRAL DEVELOPMENT AREA FOR THE PAYMENT OF CERTAIN OBLIGATIONS AND EXPENSES RELATED TO THE SOUTH BEND CENTRAL DEVELOPMENT AREA AND OTHER RELATED MATTERS WHEREAS, the South Bend Redevelopment Commission (the Commission "), the governing body of the Department of Redevelopment of the City of South Bend, Indiana (the "City ") and the City of South Bend, Indiana, Redevelopment District (the "District "), exists and operates under the provisions of Indiana Code § 36 -7 -17, as amended (the "Act "); and WHEREAS, the Commission, from time to time, has declared, confirmed and established allocation areas for areas needing redevelopment and economic development areas within the District for purposes of tax increment financing pursuant to the Act; and WHEREAS, the Commission has further created allocation area funds for the purpose of receiving tax increment financing revenues received from the allocation areas; and WHEREAS, there has been presented to the Commission Resolution No. 2663 appropriating the funds from the South Bend Central Development Area, (South Bend Allocation Area No. 1A) Special Fund; and WHEREAS, the Commission desires to appropriate the allocation area funds to pay certain expenses incurred by it or the City for local public improvements that are in or serving the South Bend Central Development Area, (South Bend Allocation Area No. IA), which appropriation is set forth in more detail in Resolution No. 2663; and WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6- 1.1 -18 -5; and WHEREAS, the proposed appropriation is not for the operating expenses of the Commission; NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION AS FOLLOWS: 1. The Commission desires to approve the use of the funds of the South Bend Central Development Area, (South Bend Allocation Area No. 1 A), as set forth in Resolution No. 2663, which allocation area, resolution and not -to- exceed appropriation amount is set forth below: •