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HomeMy WebLinkAboutNo. 2818 setting a public hearing on the appropriation of TIF revenues from various allocation areas for the payment of certain obligations/expenses related to their respective allocation areas and other related mattersA AMENDED RESOLUTION NO. 2818 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 Resolutions No. 2819 through 2828 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: 6A Allocation Area and Fund Resolution No. Not -to- Exceed Airport Economic Development Area, Resolution No. 2819 $29,000,000 Allocation Area No. 1 Fund Resolution No. 2825 $3,500,000 South Bend Central Development Area, (South Resolution No. 2820 $7,000,000 Bend Allocation Area No. 1 A) Special Fund Resolution No. 2826 $6,000,000 West Washington Allocation Area Resolution No. 2821 $1,400,000 (South Bend Allocation Area No. 7) Resolution No. 2827 $600,000 Special Fund Downtown Medical Services District Resolution No. 2822 $4,500,000 Special Fund Northeast Neighborhood Development Area Resolution No. 2823 $600,000 No. 1 Fund South Side Development Area, Resolution No. 2824 $8,000,000 Allocation Area No. 1 Fund South Side Development Area Resolution No. 2825 $3,500,000 Allocation Area No. 2 Fund South Side Development Area Resolution No. 2826 $6,000,000 Allocation Area No. 3. Fund Douglas Road Economic Resolution No. 2827 $600,000 Development Area No. 1 Fund Northeast Neighborhood Residential Resolution No. 2828 $2,400,000 Development Area No. 2 Fund ILI 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 January 21, 2011, 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, 2011 at 1308 County -City Building, 227 W. Jefferson Boulevard, South Bend, Indiana 46601. SOUTH BEND REDEVELOPMENT COMMISSION dtg"wure David A. Varner. Vice President Printed Name and Title ATTEST: r Signature Nancy N. Kin V, Secretary Printed Name and Title F.-IDATAISHAREIECONDEFOi-dinances Resohttions12011 Appropriation OrdslPub Hrg Notice Amended Res 2818 2011 T /FApprops.doc 2M AMENDED RESOLUTION NO. 2818 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 Resolutions No. 2819 through 2828 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: :4 11 IN Allocation Area and Fund Resolution No. Not -to- Exceed Airport Economic Development Area, Resolution No. 2819 $29,000,000 Allocation Area No. 1 Fund South Side Development Area South Bend Central Development Area, (South Resolution No. 2820 $7,000,000 Bend Allocation Area No. IA) Special Fund Resolution No. 2827 $600,000 Development Area No. 1 Fund West Washington Allocation Area Resolution No. 2821 $1,400,000 (South Bend Allocation Area No. 7) Special Fund Downtown Medical Services District Resolution No. 2822 $4,500,000 Special Fund Northeast Neighborhood Development Area Resolution No. 2823 $600,000 No. 1 Fund South Side Development Area, Resolution No. 2824 $8,000,000 Allocation Area No. 1 Fund South Side Development Area Resolution No. 2825 $3,500,000 Allocation Area No. 2 Fund South Side Development Area Resolution No. 2826 $6,000,000 Allocation Area No. 3. Fund Douglas Road Economic Resolution No. 2827 $600,000 Development Area No. 1 Fund Northeast Neighborhood Residential Resolution No. 2828 $2,400,000 Development Area No. 2 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 4:00 p.m. on February 8, 2011, 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, 2011 at 1308 County -City Building, 227 W. Jefferson Boulevard, South Bend, Indiana 46601. (�O BEND REDE E PMENT COMMISSION Signature Marcia T .Tones _ Praci dent Printed Name and Title ATTEST- Signature Nancy N. King, Secretary Printed Name and Title F. IDATAISHAREIECONDEnOrdinances Resolutions12011 Appropriation Ord.S Pub Hrg Notice Amended Res 2818 2011 TIFApprops.doc NOTICE OF PUBLIC HEARING CONCERNING PROPOSED SUPPLEMENTAL APPROPRIATION RESOLUTIONS OF THE SOUTH BEND REDEVELOPMENT DISTRICT Oj The taxpayers of the South Bend Redevelopment District, which Redevelopment District is a special taxing district including all the territory in the City of South Bend, Indiana, are hereby notified that the South Bend Redevelopment Commission (the "Commission ") did on January 14, 2011 adopt 2 "d Amended Resolution No. 2818 determining its intent to use funds that have been paid into the allocation funds and in the amounts set forth below for local public improvements in or serving their respective allocation areas: Allocation Area and Fund Resolution No. Not -to- Exceed Airport Economic Development Area, Allocation Resolution No. 2819 $29,000,000 Area No. 1 Fund South Bend Central Development Area, (South Resolution No. 2820 $7,000,000 Bend Allocation Area No. 1 A) Special Fund West Washington Allocation Area Resolution No. 2821 $1,400,000 (South Bend Allocation Area No. 7) Special Fund Downtown Medical Services District Resolution No. 2822 $4,500,000 Special Fund Northeast Neighborhood Development Area Resolution No. 2823 $600,000 No. 1 Fund South Side Development Area, Resolution No. 2824 $8,000,000 Allocation Area No. 1 Fund South Side Development Area Resolution No. 2825 $3,500,000 Allocation Area No. 2 Fund South Side Development Area Allocation Area No. 3. Fund Resolution No. 2826 $6,000,000 Douglas Road Economic Resolution No. 2827 $600,000 Development Area No. 1 Fund Northeast Neighborhood Residential Development Resolution No. 2828 $2,400,000 Area No. 2 Fund The taxpayers of the South Bend Redevelopment District are further notified that the Commission will hold a public hearing at 4:00 p.m.. (local time), on Tuesday, February 8, 2011, at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana, on said appropriation of funds from the Allocation Fund heretofore authorized by the Commission. The appropriations are set forth in more detail in their respective resolutions which are on file and available for inspection at the office of the Commission, 227 West Jefferson Boulevard, Suite 1200, South Bend, Indiana 46601. At said public hearing all persons shall have the right to appear and be heard on the necessity of said appropriation, which appropriation, if made, will be forwarded to the State Board of Tax Commissioners for review to ensure the availability of funds. SOUTH BEND REDEVELOPMENT COMMISSION Marcia I. Jones President Publish: January 21, 2011 F:IDATAISHAREIECONDErOrdinances Resolutionsl2011 Appropriation Ord.Ohib Hrg Notice Amended Res 2818 2011 T1FApprops.doc