HomeMy WebLinkAboutNo. 2767 setting a public hearing on appropriation of TIF revenues from various allocation areas for payment of certain obligations/expenses related to their respective allocation areas and other related mattersRESOLUTION NO. 2767
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 -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 have been presented to the Commission Resolution No. 2768 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 set forth below:
Allocation Area and Fund Resolution No. Not -to- Exceed
South Bend Central Development Area, (South Resolution No. 2768 $750,000
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 October 15, 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 September 17,
2010 at 1308 County -City Building, 227 W. Jefferson Boulevard, South Bend, Indiana 46601.
S TH BEND REDEV L PMENT COMMISSION
Signature
Marcia I. Jones, esident
Printed Name and Title
ATTEST:
Signature
Nancy N. King, Secretary
Printed Name and Title
F: IDA TA ISHAREIECONDEnOrdinances Resolutions 1201 0 Appropriation Ords IPub Hrg Notice Res 2 767 2010 T/F Add'l Approps. doc