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10148-12 Create Certified Technology Park Fund #439
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10148-12 Create Certified Technology Park Fund #439
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Last modified
9/11/2012 4:26:05 PM
Creation date
2/24/2012 10:15:02 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
2/13/2012
Ord-Res Number
10148-12
Bill Number
84-11
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CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />DEPARTMENT OF ADMINISTRATION & FINANCE <br />GREGG D. ZIENTARA <br />CONTROLLER <br />December 7, 2011 <br />Mr. Derek Dieter <br />President, South Bend Common Council <br />4 1 Floor, County -City Building <br />South Bend, IN 46601 <br />Re: Ordinance of the Common Council Creating a New Fund <br />Dear President Dieter: <br />Effective January 1, 2009, the City of South Bend, Indiana and the City of South Bend Redevelopment <br />Commission entered into a Certified Technology Park Agreement with the Indiana Economic <br />Development Corporation. <br />Each redevelopment commission with a certified technology park is required by IC 36- 7 -32 -23 to <br />establish a separate certified technology park fund ( "CTP Fund ") to receive property tax proceeds, state <br />gross retail and use taxes, and other revenue. Money deposited in the CTP Fund may be used for the <br />acquisition, improvement, construction and maintenance of public facilities, debt service and other <br />permitted uses under IC 36- 7 -32 -23 in connection with a certified technology park. <br />To accomplish this, it is in the best interests of the City of South Bend to establish a City of South Bend <br />Certified Technology Park Fund (#439). Fund 439 will be a capital project fund for financial reporting <br />purposes and will earn interest on outstanding cash balances. Fund 439 will be subject to annual <br />appropriation by the City of South Bend Redevelopment Commission. <br />City Administration submits this appropriation spending request for 1St reading at the December 12, 2011 <br />Council Meeting, 2nd read, public hearing, 3rd read and Council vote at the same January 9, 2012 Council <br />Meeting. <br />City Administration will present this bill to Council at the appropriate committee meeting and at the <br />Council session. <br />Luecke, Mayor of the City of South Bend <br />z <br />County -City Building 227 West Jefferson Boulevard South Bend, Indiana 46601 -1830 n,(�/ <br />Phone: 574 /235 -9216 Fax: 574/235 -9928 TDD: 574/235 -5567 i jj�/ <br />
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