HomeMy WebLinkAboutNo. 2532 setting a public hearing of the appropriation of tax increment financing revenues from various allocation areas for pmt of certain oblications and expenses related to their respective allocation areas and other related matterst
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RESOLUTION NO. 2532
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 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. 2533 through
2541 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, which appropriations are set forth in more detail in the Resolutions; and
WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6- 1.1 -18 -5;
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 as set forth below:
Allocation Area and Fund
Resolution No.
Not -to- Exceed
Airport Economic Development Area,
Resolution No. 2533
29,000,000
Allocation Area No. 1 Fund
South Bend Central Development Area, (South
Resolution No. 2534
6,100,000
Bend Allocation Area No. 1A) Special Fund
Downtown Medical Services District
Resolution No. 2535
3,100,000
Special Fund
West Washington Allocation Area
Resolution No. 2536
450,000
(South Bend Allocation Area No. 7)
Special Fund
South Side Development Area,
Resolution No. 2537
800,000
Allocation Area No. 1 Fund
South Side Development Area
Resolution No. 2538
1,100,000
Allocation Area No. 2 Fund
South Side Development Area
Resolution No. 2539
1,500,000
Allocation Area No. 3. Fund
Douglas Road Economic
Resolution No. 2540
100,000
Development Area No. 1 Fund
Northeast Neighborhood Development Area Resolution No. 2541 200,000
No. 1 Fund
2. The President and Secretary of the Commission are each 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 16,
2009, 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
December 19, 2008 at 1308 County -City Building, 227 W. Jefferson Boulevard, South Bend,
Indiana 46601.
ATTEST:
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Signature
Nancy N. King, Secretary
Printed Name and Title
SOUTH BEND REDEV�OPMENT
COMMISSION
Signature
Marcia I. Jones. President
Printed Name and Title