HomeMy WebLinkAboutNo. 2212 set a public hearing on appropriation of tax increment financing revenues from allocation area no. 1 fund for payment of certain obligations related to south side development area allocation area no. 1i
RESOLUTION NO. 2212
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
SETTING A PUBLIC HEARING ON THE APPROPRIATION OF 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 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, exists and operates under the
provisions of Indiana Code § 36 -7 -14, as amended (the "Act "); and
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
Development Area Allocation Area No. 1 ( "Allocation Area No. 1 ") for purposes of tax increment
financing pursuant to the Act; and
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
49 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 of
the Plan Commission through the adoption of Common Council Resolution No. 3136 -02; and
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
WHEREAS, following said hearing, the Commission adopted Resolution No. 1928
confirming the Declaratory Resolution; and
WHEREAS, the Declaratory Resolution created the South Side Development Area
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 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)(G) & (J) and certain
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other expenditures contemplated by the Commission in accordance with Indiana Code § 36-7-14 -
39(b)(2); and
WHEREAS, the expenditures incurred or anticipated to be incurred by the Commission
proposed to be paid with funds from Allocation Area No. 1 Fund are described on the attached.
Exhibit A; and
WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6- 1.1 -18 -5;
and
WHEREAS, the Commission desires to approve said appropriations in a total amount not to
exceed One Hundred Thousand and 00 /100 Dollars ($100,000.00); and
WHEREAS, the proposed appropriations from Allocation Area No. 1 Fund 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 in Allocation Area No.
Fund in an amount not to exceed One Hundred Thousand and 00 /100 ($100,000.00) for the
anticipated expenditures set forth at Exhibit A.
2. The Secretary of the Commission is hereby authorized and directed to take all
necessary steps to obtain the approval of the expenditures of such funds pursuant to Indiana Code §
6- 1.1 -18 -5, 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 10:00 a.m. on January 20, 2006, at 1308
County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601.
ADOPTED at a meeting of the South Bend Redevelopment Commission held on January
3, 2006 at 1308 County -City Building, 227 W. Jefferson Boulevard, South Bend, Indiana 46601.
ATTEST:
Sifn—atur
Gregory S. Downes, Secretary
Printed Name and Title
SOUTH BEND REDEVELOPMENT
,COMMISSION
S4tu�re
Marcia I. Jones, President
Printed Name and Title
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EXHIBIT A
(General Description of Expenditures)
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