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No. 2016 designating the NNDA, declaring the NNDA to be blighted, approving a development plan and conditions under which relocation payments will be made, and establishing an allocation area for purposes of TIF
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No. 2016 designating the NNDA, declaring the NNDA to be blighted, approving a development plan and conditions under which relocation payments will be made, and establishing an allocation area for purposes of TIF
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(W allocation area; <br />(E) Pay premiums on the redemption before maturity of bonds <br />payable solely or in part from allocated tax proceeds in the allocation <br />area; <br />(F) Make payments on leases payable from allocated tax proceeds <br />in the allocation area under Ind. Code § 36 -7 -14 -25.2; <br />(G) Reimburse the City of South Bend for expenditures made by <br />it for local public improvements which includes, but is not limited to, <br />buildings, parking facilities, and other items described in Ind. Code <br />§ 36- 7- 14 -25. l(a) in or serving the allocation area; <br />(H) Reimburse the City of South Bend for rentals paid by it for a <br />building or parking facility in or serving the allocation area under any <br />lease entered into under Ind. Code § 36 -1 -10; <br />(I) Pay all or a portion of a property tax replacement credit to <br />taxpayers in an allocation area as determined by the Commission by <br />separate resolution; <br />(J) Pay expenses incurred by the Commission for local public <br />improvements that are in the allocation area or are serving the <br />allocation area (which includes buildings, parking facilities or other <br />items described in Ind. Code § 36-7-14-25. l(a)); <br />(K) Reimburse public and private entities for expenses incurred <br />in training employees of industrial facilities that are located (i) within <br />the allocation area; and (ii) on a parcel of real property that has been <br />classified as industrial property under the rules of the state board of <br />tax commissioners; <br />(L) Reimburse the Commission for preliminary expenditures paid <br />from Commission funds prior to the issuance of the bonds with bond <br />proceeds, said expenditures to include legal, architectural, <br />engineering, surveys, appraisals, and supervisory expenses related to <br />the acquisition and redevelopment of property, the issuance of bonds <br />and related costs; <br />provided, however, that if future uses of property tax proceeds allocated to <br />the allocation fund are authorized or permitted by amendment to the Act, <br />including Ind. Code § 39- 7- 14 -39, after the effective date of this resolution, <br />those uses shall also be authorized or permitted for property tax proceeds <br />c, -6- <br />
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