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RESOLUTION NO. 2935 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION SETTING A PUBLIC HEARING ON THE APPROPRIATION OF TAX INCREMENT FINANCING REVENUES FROM AIRPORT ECONOMIC DEVELOPMENT ALLOCATION AREA FOR THE PAYMENT OF CERTAIN OBLIGATIONS AND EXPENSES RELATED TO THEIR RESPECTIVE ALLOCATION AREAS 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 have been presented to the Commission Resolution No. 2936 appropriating the funds from various allocations areas of the District; 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 their respective allocation areas, which appropriations are set forth in more detail in the Resolutions; and WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6- 1.1 -18 -5; and WHEREAS, the proposed appropriations are not for the operating expenses of the Commission; and 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 various allocation areas, as set forth in their respective Resolutions, which allocation areas, resolutions and not -to- exceed appropriation amounts are set forth below: Allocation Area and Fund Resolution No. Not -to- Exceed Airport Economic Development Area, Resolution No. 2936 $5,000,000 Allocation Area No. 1 Fund 2. The President and Secretary of the Commission are each hereby authorized and directed to