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RESOLUTION NO. 952 <br />A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION <br />ESTABLISHING THE RUM VILLAGE INDUSTRIAL PARK ENTERPRISE <br />ZONE FUND WITHIN THE RUM VILLAGE INDUSTRIAL PARK ALLOCATION <br />FUND OF THE RUM VILLAGE INDUSTRIAL PARK DEVELOPMENT AREA <br />WHEREAS, the South Bend Redevelopment Commission ( "Commission "), <br />governing body of the South Bend Department of Redevelopment, on <br />December 18, 1981, adopted Resolution No. 650 declaring the Rum <br />Village Industrial Park Development Area to be a blighted area within <br />the meaning of the Redevelopment of Cities and Towns Act of 1953 as <br />amended (Act), adopting a Development Plan for the Area, establishing <br />an allocation area ( "Allocation Area ") within the blighted area, and <br />establishing a special fund known as the Rum Village Industrial Park <br />Allocation Area (South Bend Allocation Area No. 4) Special Fund <br />( "Special Fund "); and <br />WHEREAS, Resolution No. 650 has been confirmed by Resolution <br />No. 654, and amended by Resolutions No. 718, 722, 783, 786, 810 and <br />817, which Resolutions were recorded in the Office of the St. Joseph <br />County Recorder; and <br />WHEREAS, I.C. 36- 7 -14 -39 provides that when a portion of an <br />Allocation Area is located within an urban enterprise zone, the <br />Commission shall create an enterprise zone fund to receive deposits, <br />during each year that the enterprise zone is in existence, of any <br />amount in the Special Fund derived from property tax proceeds <br />generated pursuant to I.C. 36- 7- 14- 39(b)(1) from property located in <br />the enterprise zone, which exceeds the amount sufficient for the <br />purposes specified in I.C. 36- 7- 14- 39(b)(2); and <br />WHEREAS, a portion of the Rum Village Industrial Park Allocation <br />Area is located within the South Bend Urban Enterprise Zone <br />( "Enterprise Zone "). <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment <br />Commission that there is hereby established the Rum Village <br />Industrial Park Enterprise Zone Fund ( "Enterprise Zone Fund "), which <br />Enterprise Zone Fund shall be maintained by the Commission during the <br />period that the Allocation Area and the Enterprise Zone are in <br />existence, and which shall receive deposits, during each year that <br />the South Bend Urban Enterprise Zone is in existence, of any amount <br />in the Rum Village Industrial Park Allocation Area Special Fund <br />derived from property tax proceeds generated pursuant to I.C. <br />36- 7- 14- 39(b)(1) from property located in the South Bend Urban <br />Enterprise Zone, which exceed the amount sufficient for the purposes <br />specified in I.C. 36- 7- 14- 39(b)(2). <br />Adopted at a meeting of the South Bend Redevelopment Commission <br />held on July 27, 1990 at the office of the Commission, 1200 <br />County -City Building, South Bend, Indiana 46601. <br />CITY OF SOUTH BEND, <br />DEPARTMENT OF REDEVELOPMENT <br />JAY NIMT , PRESIDENT <br />SO END REDEVELOPMENT COMMISSION <br />ATTEST: <br />���� <br />3k <br />Roman Piasecki <br />Secretary <br />CVP /R3RN:R- RUMVILLAGE <br />