2 Minutes - Laserfiche WebLink

Home Browse Search

South Bend Redevelopment Commission Regular Meeting —July 12, 2012 (1) Resolution No. 3056 determining that the tax increment which may be collected in the year 2013 is needed to satisfy obligations of the Commission and that no excess assessed value may be allocated to the respective taxing units and other related matters. Mr. Inks noted Resolution No. 3056 meets a requirement under state law, that by July 15 each year the Commission is required to notify the auditor and various other entities about whether the Commission needs all of the tax increment revenue for the following year or not. Staff recommends that all of the tax increment revenue be retained by the Commission for the year Pay 2013. The Commissioners were provided lists of projects that are under consideration for 2013. Some of the projects will not move ahead; other projects will be added to these lists as they arise. These are the projects that are currently under consideration for 2013, provided so there is some basis for saying the Commission needs the TIF funds for 2013. Upon a motion by Mr. Downes, seconded by Mr. Alford and unanimously carried, the Commission approved Resolution No. 3056 determining that the tax increment which may be collected in the year 2013 is needed to satisfy obligations of the Commission and that no excess assessed value may be allocated to the respective taxing units and other related matters. (2) Certificate regarding Annual Financial Information Disclosure (Century Center Bond of 2008 Project and Eddy Street Commons Bond of 2008 Project). 23 COMMISSION APPROVED RESOLUTION No. 3056 DETERMINING THAT THE TAX INCREMENT WHICH MAY BE COLLECTED IN THE YEAR 2013 IS NEEDED TO SATISFY OBLIGATIONS OF THE COMMISSION AND THAT NO EXCESS ASSESSED VALUE MAY BE ALLOCATED TO THE RESPECTIVE TAXING UNITS AND OTHER RELATED MATTERS.