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A Q) <br />RESOLUTION NO. 3079 <br />A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION <br />APPROPRIATING TAX INCREMENT FINANCING REVENUES FROM <br />ALLOCATION AREA NO. 1 FUND FOR THE PAYMENT OF CERTAIN <br />OBLIGATIONS AND EXPENSES RELATED TO THE AIRPORT <br />ECONOMIC DEVELOPMENT AREA ALLOCATION AREA NO. 1 <br />WHEREAS, the South Bend Redevelopment Commission (the "Commission "), the <br />governing body of the Department of Redevelopment of the City of South Bend, Indiana (the "City ") <br />and the City of South Bend, Indiana, Redevelopment District, exists and operates under the <br />provisions of Indiana Code § 36 -7 -14, as amended (the "Act"); and <br />WHEREAS, on February 23, 1990, the Commission adopted Resolution No. 919 (declaring <br />the Airport Economic Development Area (the "Area ") to be an economic development area within <br />the meaning of the Act and designated the Area as the Airport Economic Development Area <br />Allocation Area No. 1 ( "Allocation Area No. 1 ") for purposes of tax increment financing pursuant to <br />the Act; and <br />WHEREAS, Resolution No. 919 and the Airport Economic Development Area Economic <br />Development Plan (the "Development Plan") adopted by Resolution No. 919 on February 23, 1990 <br />were confirmed by Resolution No. 938 adopted on June 27, 1990 (collectively, the "Declaratory <br />Resolution "); and <br />WHEREAS, the Declaratory Resolution created the Airport Economic Development Area <br />Allocation Area No. 1 Fund ( "Allocation Area No. I Fund ") for the purpose of depositing into such <br />fund tax increment revenues allocated to the Commission and resulting solely from the increase in <br />the assessed value of real property and improvements thereon located in Allocation Area No. 1 <br />pursuant to Indiana Code § 36- 7- 14- 39(b)(1) and from the proceeds from the sale or leasing of <br />property in the Area under Indiana Code § 36- 7- 14-22, all in accordance with Indiana Code § 36-7- <br />14-26; and <br />WHEREAS, the Commission, on April 16,1993, adopted Resolution No. 1151 declaring the <br />Sample -Ewing Development Area ( "SEDA ") to be an area needing redevelopment within the <br />meaning of the Act; and <br />WHEREAS, Resolution No. 1151 and the Sample -Ewing Development Area Development <br />Plan were confirmed by Resolution No. 1154 adopted on May 21, 1993; and <br />WHEREAS, Resolution No. 1151 created the Sample -Ewing Allocation Area (South Bend <br />Allocation Area No. 8) (the "SEDA Allocation Area ") for the purpose of depositing into an <br />allocation area fund (the "SEDA Allocation Fund ") tax increment revenues allocated to the <br />Commission and resulting solely from the increase in the assessed value of personal property and <br />real property and improvements thereon located in the SEDA Allocation Area pursuant to Indiana <br />