HomeMy WebLinkAbout5B1 Resolution No. 3347 Setting Public Hearing for TIF RevenuesRESOLUTION NO. 3347
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
SETTING A PUBLIC HEARING ON THE APPROPRIATION OF TAX INCREMENT
FINANCING REVENUES FROM VARIOUS ALLOCATION AREAS FOR THE
PAYMENT OF CERTAIN OBLIGATIONS AND EXPENSES RELATED TO THEIR
RESPECTIVE ALLOCATION AREAS FOR CALENDAR YEAR 2017 AND OTHER
RELATED MATTERS
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 (the "District "), exists and operates under the provisions of
Indiana Code § 36 -7 -14, as amended (the "Act "); and
WHEREAS, the Commission, from time to time, has declared, confirmed and established
allocation areas for areas needing redevelopment and economic development areas within the District for
purposes of tax increment financing pursuant to the Act; and
WHEREAS, the Commission has further created allocation area funds for the purpose of receiving
tax increment financing revenues received from the allocation areas; and
WHEREAS, there have been presented to the Commission Resolutions No. 3348 through 3359
appropriating the funds from various allocations areas of the District (collectively, the "Resolutions "): and
WHEREAS, the Commission desires to appropriate the allocation area funds to pay certain
expenses incurred by it or the City for local public improvements that are in or serving their respective
allocation areas or otherwise in accordance with the Act, which appropriations are set forth in more detail
in the Resolutions; and
WHEREAS, the proposed appropriations are not for the operating expenses of the Commission;
and
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
1. The Commission desires to approve the use of the funds of the various allocation areas, as set
forth in their respective Resolutions, which allocation areas, resolutions and not -to- exceed appropriation
amounts are set forth below:
Allocation Area and Fund Resolution No.
River West Development Area
Resolution No. 3348
West Washington Allocation Area
Resolution No. 3349
River East Development Area
Resolution No. 3350
River East Residential Development Area
Resolution No. 3351
South Side Development Area, #1 General
Resolution No. 3352
South Side Development Area, #3 Erskine Village
Resolution No. 3353
Douglas Road Economic Development Area
Resolution No. 3354
Redevelopment Administration
Resolution No. 3355
Redevelopment Retail
Resolution No. 3356
Airport/Urban Enterprise Zone
Resolution No. 3357
Airport Bond Debt Service Reserve
Resolution No. 3358
Downtown Bond Debt Service Reserve
Resolution No. 3359
Totals
$53,785,461
Fund No. Not -to- Exceed
324
$30,000,000
422
$1,125,000
429
$7,800,000
436
$3,430,000
430
$6,000,000
432
$4,848,795
435
$ 340,000
433
$ 4,500
425
$ 158,166
454
$ 50,000
315
$ 14,000
328
$ 15,000
$53,785,461
2. The President and Secretary of the Commission are each hereby authorized and directed to take
all necessary steps to obtain approval of the expenditures of such funds pursuant to applicable laws,
including the publication in accordance with Indiana Code §5 -3 -1 of notice of a hearing on the
appropriation of such funds to be held at 9:30 a.m. on October 13, 2016 at 1308 County- City'Building,
227 West Jefferson Boulevard, South Bend, Indiana 46601.
ATTEST:
Signature
Donald E. Inks, Secretary
Printed Name and Title
South Bend Redevelopment Commission
Signature
Marcia I. Jones, President
Printed Name and Title