No. 3239 appropriating tax increment financing revenues from Allocation Area No. 1 Fund for the payment of certain obligations and expenses related to the South Side Development Area Allocation Area No. 1

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i i 7 1 J a 1 RESOLUTION NO. 3239 ,i ) A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROPRIATING TAX INCREMENT FINANCING REVENUES FROM { ALLOCATION AREA NO. 1 FUND FOR THE PAYMENT OF CERTAIN 3 OBLIGATIONS AND EXPENSES RELATED TO THE SOUTH SIDE DEVELOPMENT AREA ALLOCATION AREA NO. I V WHEREAS, the South Bend Redevelopment Commission (the "Commission"), the � governing body of the Department of Redevelopment of the City of South Bend, Indiana (the "City") and the City of South Bend, Indiana, Redevelopment District, exists and operates under the provisions of Indiana Code § 36-7-14, as amended (the "Act"); and 4 WHEREAS, on November 1, 2002, the Commission adopted Resolution No. 1914 (the "Declaratory Resolution") declaring the South Side Development Area (the "Area") to be an area needing redevelopment within the meaning of the Act and designated the Area as the South Side 4 Development Area Allocation Area No. 1 ("Allocation Area No. 1")for purposes of tax increment ) financing pursuant to the Act; and i I I WHEREAS, on November 19, 2002, the Area Plan Commission of St. Joseph County ("Plan Commission") issued its written order approving the Declaratory Resolution by the adoption of Plan Commission Resolution 142-02, in accordance with Indiana Code § 36-7-14— 16; and WHEREAS, on November 25, 2002, the Common Council of the City approved the order I of the Plan Commission through the adoption of Common Council Resolution No. 3136-02; and 1 I WHEREAS, on December 20, 2002, the Commission held a duly noticed public hearing, in accordance with Indiana Code § 36-7-14-17 and Indiana Code § 5-3-1; and 44 WHEREAS, following said hearing, the Commission adopted Resolution No. 1928 confirming the Declaratory Resolution; and 1 WHEREAS, the Declaratory Resolution created the South Side Development Area I Allocation Area No. 1 Fund ("Allocation Area No. 1 Fund") for the purpose of depositing into § such fund tax increment revenues allocated to the Commission and resulting solely from the increase in the assessed value of real property and improvements thereon located in Allocation Area No. 1 pursuant to Indiana Code § 36-7-14-39(b)(1) and from the proceeds from the sale or leasing of property in the Area under Indiana Code § 36-7-14-22, all in accordance with Indiana 1 Code § 36-7-14-26; and WHEREAS, the Commission desires to pay certain expenses incurred by it or the City for local public improvements that are in or serving Allocation Area No. 1 from funds remaining in the Allocation Area No. 1 Fund, in accordance Indiana Code § 36-7-14-39(b)(2)and certain other expenditures incurred by the Commission in accordance with Indiana Code § 36-7-14-39(b)(2); and I 1