HomeMy WebLinkAbout5B2 Resolution No. 3360 Setting Public Hearing for Additional 2016 TIF AppropriationsRESOLUTION NO. 3360
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
SETTING A PUBLIC HEARING ON THE ADDITIONAL APPROPRIATION OF
2016 TAX INCREMENT
FINANCING REVENUES FROM VARIOUS ALLOCATION AREAS FOR THE
PAYMENT OF CERTAIN OBLIGATIONS AND EXPENSES RELATED TO THEIR
RESPECTIVE ALLOCATION AREAS 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, confnmed and established
allocation areas for areas needing redevelopment and economic.development areas within the District for
purposes of tax increment fmancing 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, the Commission desires to appropriate the allocation area fields 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
CON MISSION AS FOLLOWS:
1. The Commission desires to approve the use of additional 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. Not -to- Exceed
Redevelopment Retail Fund 425 Resolution No. 3360 $40,000
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.
SOUTH BEND REDEVELOPMENT COMMISSION
Signature
Marcia I. Jones, President
Printed Name and Title
ATTEST:
Signature
Donald E. Inks, Secretary
Printed Name and Title