HomeMy WebLinkAboutNo. 2661 setting a public hearing on appropriation of TIF revenues from SBCDA for the payment of certain obligations & expenses related to the SBCDA and other related matters•
RESOLUTION NO. 2661
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
SETTING A PUBLIC HEARING ON THE APPROPRIATION OF TAX INCREMENT
FINANCING REVENUES FROM THE
SOUTH BEND CENTRAL DEVELOPMENT AREA FOR THE
PAYMENT OF CERTAIN OBLIGATIONS AND EXPENSES RELATED TO THE
SOUTH BEND CENTRAL DEVELOPMENT AREA
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 -17, 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 has been presented to the Commission Resolution No. 2663 appropriating the
funds from the South Bend Central Development Area, (South Bend Allocation Area No. 1A) Special
Fund; 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 the South Bend
Central Development Area, (South Bend Allocation Area No. IA), which appropriation is set forth in more
detail in Resolution No. 2663; and
WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6- 1.1 -18 -5; and
WHEREAS, the proposed appropriation is not for the operating expenses of the Commission;
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 South Bend Central
Development Area, (South Bend Allocation Area No. 1 A), as set forth in Resolution No. 2663, which
allocation area, resolution and not -to- exceed appropriation amount is set forth below:
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Allocation Area and Fund Resolution No. Not -to- Exceed
South Bend Central Development Area, (South Resolution No. 2663 $399,000.00
Bend Allocation Area No. 1 A) Special 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 10:00am on April 9, 2010, 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 March 19, 2010
at 1308 County -City Building, 227 W. Jefferson Boulevard, South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT COMMISSION
David A. Varner, Vice President
Printed Name and Title
AT ST:
Signature
Nancy N. King, Secretary
Printed Name and Title
F.- DA TAMARDECONDEMOrdinances Resolutions 12010 Appropriation Ords Pub Hrg Notice Res 2661 SBCDA TIF Approp.doc