HomeMy WebLinkAboutNo. 2561 setting a public hearing on the appropriation of TIF revenues from the AED/urban enterprise zone special zone fund for payment of certain obligations and expenses related to the AEDA and the urban enterprise zone0 RESOLUTION NO. 2561
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
SETTING A PUBLIC HEARING ON THE APPROPRIATION OF TAX INCREMENT
FINANCING REVENUES FROM THE AIRPORT ECONOMIC DEVELOPMENT/
URBAN ENTERPRISE ZONE
SPECIAL ZONE FUND FOR THE PAYMENT OF CERTAIN OBLIGATIONS AND
EXPENSES RELATED TO THE AIRPORT ECONOMIC DEVELOPMENT AREA
AND THE URBAN ENTERPRISE ZONE
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 February 23, 1990, the Commission adopted Resolution No. 919 (the
declaring the Airport Economic Development Area (the "Area ") to be an economic development area
within the meaning of the Act and designated the Area as the Airport Economic Development Area
Allocation Area No. 1 ( "Allocation Area No. 1 ") for purposes of tax increment financing pursuant to
40 the Act; and
WHEREAS, Resolution No. 919 and the Airport Economic Development Area Economic
Development Plan (the "Development Plan ") adopted by Resolution No. 919 on February 23, 1990
were confirmed by Resolution No. 938 adopted on June 27, 1990 (collectively, the "Declaratory
Resolution "); and
WHEREAS, the Declaratory Resolution created the Airport Economic 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, on April 16, 1993, adopted Resolution No. 1151 declaring the
Sample -Ewing Development Area ( "SEDA ") to be an area needing redevelopment within the
meaning of the Act; and
WHEREAS, Resolution No. 1151 and the Sample -Ewing Development Area Development
Plan were confirmed by Resolution No. 1154 adopted on May 21, 1993; and
WHEREAS, Resolution No. 1151 created the Sample -Ewing Allocation Area (South Bend
Allocation Area No. 8) (the "SEDA Allocation Area ") for the purpose of depositing into an
allocation area fund (the "SEDA Allocation Fund ") tax increment revenues allocated to the
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Commission and resulting solely from the increase in the assessed value of personal property and
real property and improvements thereon located in the SEDA Allocation Area 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 Declaratory Resolution was further amended by the Resolution No. 2348
and Resolution No. 2351, adopted on June 19, 2007 and July 20, 2007 respectively and said
resolution expanded the Area by adding and consolidating the SEDA into the Area (collectively
referred to hereafter as the "Area ") and expanded Allocation Area No. I by adding and consolidating
the SEDA Allocation Area into Allocation Area No. 1 (collectively referred to hereafter as
"Allocation Area No. 1 "); and
WHEREAS, under the Declaratory Resolution, the funds and deposits of the SEDA
Allocation Funds have further been consolidated and deposited with Allocation Area No. 1 Fund
(collectively referred to hereafter as "Allocation Area No. 1 Fund "); and
WHEREAS, on October 27, 2003, the South Bend Common Council adopted Resolution
No. 3261 -03, requesting that the State Enterprise Zone Board establish the Urban Enterprise Zone
(the "Zone ") as an enterprise zone within the meaning of Indiana Code § 4 -4 -6.1 (now Indiana Code
§ 5- 28 -15) which was approved by the State of Indiana, effective January 1, 2004, for a period of
ten (10) years and expiring on December 31, 2013; and
WHEREAS, the purpose for the existence of the Zone is to: (1) Increase the number of jobs
in the Zone by retention and expansion of existing businesses and attraction and development of new
businesses; and (2) Improve the quality of life of zone residents, improve zone residents'
employability, and fill zone jobs with zone residents; and
WHEREAS, due to an overlap in the Area and the Zone (the "Overlap Area "), the Airport
Economic Development Area / Urban Enterprise Zone Special Zone Fund was established for the
purpose of depositing into a special fund (the "Zone Fund ") tax increment revenues allocated to the
Commission and resulting solely from the increase in the assessed value of personal property and
real property and improvements thereon located in the Overlap Area pursuant to Indiana Code § 36-
7-14-39(g); and
WHEREAS, pursuant to Indiana Code § 36- 7- 14- 39(g), tax increment revenues allocated to
the Commission and resulting solely from the increase in the assessed value of personal property and
real property and improvements thereon located in the Overlap Area have been transferred from the
Allocation Area No. 1 Fund into the Zone Fund; and
WHEREAS, the Commission desires to pay certain expenses incurred by third parties for
programs located in or serving the Overlap Area from funds remaining in the Zone Fund, in
accordance with Indiana Code § 36- 7- 14 -39(g) and certain other expenditures incurred by the
Commission in accordance with Indiana Code § 36- 7- 14- 39(b)(2); and
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WHEREAS, the expenditures incurred or anticipated to be incurred by the Commission
proposed to be paid with funds from the Zone Fund are described on the attached Exhibit A; and
WHEREAS, the proposed appropriations from the Zone Fund are not for the operating
expenses of the Commission; and
WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6- 1.1 -18—
5; and
WHEREAS, on February 6, 2009, the Commission adopted Resolution No. 2561 setting a
public hearing on said appropriations for 10:00 a.m. on February 20, 2009, and authorizing the
Secretary of the Commission to duly publish notice of said hearing; and
WHEREAS, the Secretary of the Commission has caused notice of said hearing on said
appropriations to be published in accordance with law; and
WHEREAS, such public hearing was held at the Commission's meeting at 10:00 a.m. on
February 20, 2009, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601, at which all taxpayers and interested persons had an opportunity to appear and
express their views as to such additional appropriations; and
WHEREAS the Commission now desires to a pp rove said appropriations in a total amount
of Six Hundred Twenty Three Thousand Eighty Six and 00 /100 Dollars ($623,086.00);
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 AEDA/UEZ Special
Zone Fund, as set forth in the Resolution, which Allocation Area, Resolution and not -to- exceed
appropriation amount is as set forth below:
Allocation Area and Fund Resolution No. Not -to- Exceed
AEDA/UEZ Special Zone Fund Resolution No. 2562 623,086.00
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 February 20,
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 .
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February 6, 2009 at 1308 County -City Building, 227 W. Jefferson Boulevard, South Bend,
Indiana 46601.
ATTEST:
Signature
Nance N. Kin¢. Secretar��
Printed Aame and Tithe g 7
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SOUTH BEND REDEVELOPMENT
CO SSION
Signature
David A. Varner, Vice President
Printed Name and Title