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HomeMy WebLinkAboutNo. 1990 designating the SSED project district, approving the SSED project district dev plan as modified and determining to create an economic development project district for purposes of sales TIF14 0355322 RECORDED ON 09/02/2003 10:13:10AN TERRI J. REMAKE ST. JOSEPH COUNTY RECORDER REC FEE: 819.00 PAGES: 6 RESOLUTION NO. 1990 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION MODIFYING AND CONFIRMING RESOLUTION NO. 1955 DESIGNATING THE SOUTH SIDE TH SIDE ECONOMIC DEVELOPMENT DISTRICT, APPROVING THE 50 AND DETERMINING PROJECT DISTRICT DEVELOPMENT PLAN AS MODIFIED, TO CREATE AN ECONOMIC DETAX INCREMENTPROJECT FINANCING DISTRICT FOR PURPOSES OF SALES WHEREAS, in accordance with Indiana Code § 36- 7 -26 -1, et seq. as Amended and Supplemented, the City of South Bend, Indiana Redevelopment Commission ( "Commission") at its regular meeting of March 21, 2003 approved and adopted Resolution No. 1955 ( "Declaratory Resolution ") designating the area described below as the South Side Economic Development Project District ( "STIF District "), approving the South Side Economic Development Project District Development Plan ( "STIF District Development Plan") and determining to create an economic development project district for purposes of sales tax increment financing: South Side Economic Development Project District ( "STIF District ") A parcel land being a part of Section 30, and a part of Section 29, and a part of Section 25, all in Township 37 North, Range 2 East and Range 3 East, City of South Bend, Centre Township, Penn Township and Portage Township, St. Joseph County, Indiana and being more particularly described as follows: Beginning at the intersection of the North right -of -way line of Ireland Road and the East right -of -way line of Middleboro Street extended North; thence South to the South right -of -way line of Ireland Road; thence Westerly and Southwesterly to the East right -of -way line of Ironwood Road; thence South along said East right - of -way line of Ironwood Road to the North right -of -way line of the U.S. 20 Bypass (St. Joseph Valley Parkway); thence West to the West right -of -way line of Ironwood Road; thence North along said West right -of -way line to the Southerly right -of -way line of Ireland Road; thence Northwesterly and Westerly along said South right -of- way line of Ireland Road to the Northwest corner of Lot 8 Scottsdale Addition A; thence South along the West line of Scottsdale Addition A to the North right -of -way line of said U.S. 20 Bypass; thence East along said North right -of -way line to the West right -of -way line of York Road, thence Southeasterly along said West right -of- way line to the South right -of -way line of said U.S. 20 Bypass; thence West along said South right -of -way line to the most Northwesterly corner of Lot 185 Scottsdale Addition D; thence South along the West line of said Addition D to the Northeast a, corner of Lot 2 Frame's Jackson Road Minor Subdivision; thence West along the North line of said Frame's Jackson Road Minor Subdivision and its projection West to the East line of the Fairington Apartments; thence South along said East line to the South right -of -way line of Jackson Road; thence West along said South right -of -way line to a point 850 feet West of the centerline of Miami Street; thence North to the South right -of -way line of said U.S. 20 Bypass; thence West along said South right - of -way line to a point 1400 feet East of the centerline of Michigan Street; thence North to the North right -of -way line of said U.S. 20 Bypass; thence East along said North right -of -way line to the East right -of -way line of Fellows Street; thence Northeasterly and North along said East right -of -way line of Fellows Street to the Southwest comer of Lot 11 Widener's 1' Addition; thence East along the South line of said Widener's 1' Addition to the Southeast comer of Lot EE in Hildred's Replat; thence North along the East line of said Lot EE to the South right -of -way line of Widener Lane; thence Southeast and East along said South right -of -way line of Widener Lane to the West line of Lot 28 Widener's Replat and Minor Subdivision projected South; thence North along said West line of Lot 28 and its projection to the Northwest corner of said Lot 28; thence West to the Southwest corner of Lot 2 Erskine Plaza Minor; thence North along the West line of said Lot 2 to the Northwest corner of said Lot 2; thence East along the North line of said Lot 2 to the West right - of -way line of High Street; thence North along said West right -of -way line of High Street to the North right -of -way line of Hawbaker Street; thence West along said North right -of -way line of Hawbaker Street to the Southeast comer of Lot 2 Le Sea Minor Subdivision; thence North along the East line of said Lot 2 and its projection North to the South right -of -way line of Ireland Road; thence West along said South right -of -way line to the East right -of -way line of Michigan Street; thence Southwesterly and Southerly along said East right -of -way line of Michigan Street to the North right -of -way line of the U.S. 20 Bypass; thence West to the West right -of- way line of Michigan Street; thence North to the South right -of -way line of Ireland Road; thence Northwesterly and West along said South right -of -way line of Ireland Road to a point 200 feet West of the centerline of Michigan Street; thence North to the North right -of -way line of Ireland Road; thence East along said North right -of- way line to the West right -of -way line of Michigan Street; thence Northeasterly and Northerly along said West right -of -way line of Michigan Street to a point 100 feet North of the centerline of Ireland Road; thence East to the East right -of -way line of Michigan Street; thence Southerly and Southeasterly to the North right -of -way line of Ireland Road; thence East along said North right -of -way line of Ireland Road to the West right -of -way line of Miami Street; thence Northeasterly and North along the West right -of -way line of Miami Street to the South right -of -way line of Alpine Drive projected West; thence East along said South right -of -way line and its projection to the East line of Lot A Broadmoor Section 3 Revised; thence Southeasterly to the Northeast corner of Lot 254; thence East and Northeasterly to the Northeast comer of Lot 247; thence Southeasterly to the Southwest corner of Lot 246 and being on the North right -of -way line of Ireland Road; thence East along said North right -of -way line to the West right -of -way line of Ironwood Road; thence Page -2- .► w Northeasterly and North along said West right -of -way line of Ironwood Road to a point 100 feet North of the centerline of Ireland Road; thence East to the East right - of -way line of Ironwood Road; thence Southeasterly to the North right -of -way line of Ireland Road; thence East along said North right -of -way line of Ireland Road to the place of beginning containing 217.70 acres more or less. WHEREAS, in accordance with the provisions of Ind. Code § 36- 7 -26 -16 the Commission has heretofore submitted its Declaratory Resolution No. 1955, the Development Plan attached thereto as Exhibit "A" and supporting documentation to the State Board of Finance for its approval; and WHEREAS, consistent with Ind. Code § 36- 7- 26 -16, at its regular meeting of July 21, 2003, the State Board of Finance approved the Commission's Declaratory Resolution No. 1955 determining to create the District and the Development Plan for the District contingent upon the following modifications to the Development Plan: 1. Submission to State Board of Finance of evidence of satisfaction of compliance with Ind. Code § 36- 7- 26- 14(b); and 2. Amendment to the Development Plan for the District which increases the amount of property tax increment pledged to an amount equal to that which will be generated in the area comprising the Economic Development Project District established under Ind. Code § 36 -7 -26; and 3. Agreement by the City of South Bend that, to the extent that incremental sales tax revenues authorized under Ind. Code § 36 -7 -26 are not necessary in addition to tax increment revenues to meet debt service on the Commission's bonds issued to finance the Project, such sales tax revenues will revert to the State General Fund, provided however, prior to such reversion, the State Board of Finance will entertain a request by the Redevelopment Commission to demonstrate additional financing needs within the District. WHEREAS, in accordance with Ind. Code § 36- 7- 26 -20, upon modification and approval by the State Board of Finance, the Commission submitted for approval of the South Bend Common Council, legislative body for the City of South Bend, St. Joseph County, Indiana, the Commission's Declaratory Resolution No. 1955 determining to create the District together with the Development Plan for the District as modified by the State Board of Finance; and WHEREAS, in accordance with Ind. Code § 36- 7- 26 -20, it is anticipated that at its regular of August 25, 2003, the South Bend Common Council will adopt an ordinance (Bill No.60 -03) approving the determination of the Commission to create the District and the Development Plan for Page -3- the District as modified and approved by the State Board of Finance; and WHEREAS, in accordance with Ind. Code § 36- 7- 26 -15, after receipt of the written approval of the Board and approval of the South Bend Common Council, the Commission caused to be published a Notice of Public Hearing in accordance with Ind. Code § 5 -3 -1 in the South Bend Tribune and Tri- County News with such Notice advising of the adoption and substance of its Declaratory Resolution No. 1955, including a general description of the boundaries of the District and advising that information concerning the District is available for inspection at the City of South Bend Department of Redevelopment, and naming Friday, August 22, 2003, at 10:00 a.m., Eastern Standard Time, in Room 1200 of the County -City Building, 120' Floor, 227 West Jefferson Boulevard, South Bend, Indiana as the date, time and place of the Public Hearing at which time the Commission will hold a hearing and receive and hear written remonstrances and other testimony from persons interested in or affected by the establishment of the District; and WHEREAS, at the Public Hearing held by the Commission on Friday, August 22, 2003, at 10:00 a.m., Eastern Standard Time, in Room 1200 of the County -City Building, 12' Floor, 227 West Jefferson Boulevard, South Bend, Indiana, the time and place so stated in the notice, the Commission heard all persons interested in or affected by the proceedings and received O written remonstrances and objections that had been filed; and WHEREAS, the Commission has now received testimony from all persons who have expressed views or voiced any objections to its Declaratory Resolution No. 1955 proposing the establishment of the South Side Economic Development Project District and the Development Plan, as modified, it has considered their written remonstrances, and therefore, the Commission is prepared to take final action on said Declaratory Resolution No. 1955 creating the South Side Economic Development Project District. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission, as follows: 1. That after careful consideration of the evidence presented, careful consideration of the comments and objections made at the Public Hearing and upon further review of the entire proceedings, the Commission hereby finds that the redevelopment and economic development of the District as described herein will: a. Attract new business enterprises to the District or retain or expand existing businesses in the District; and b. Benefit the public health and welfare and be of public utility and benefit; and C. Protect and increase state and local tax bases or revenues; and d. Result in a substantial increase in temporary and permanent Page -4- 14 employment opportunities and private sector investment within the District. 2. The Commission further finds and determines that it will be of public utility and benefit to proceed with the South Side Economic Development Project District Development Plan as attached as Exhibit "A" to the Declaratory Resolution No. 1955 adopted by the Commission on March 21, 2003 subject to the following modifications requested by the State Board of Finance on July 21, 2003: a. Submission to State Board of Finance of evidence of satisfaction of compliance with Ind. Code § 36- 7- 26- 14(b); and b. Amendment to the Development Plan for the District which increases the amount of property tax increment pledged to an amount equal to that which will be generated in the area comprising the Economic Development Project District established under Ind. Code § 36 -7 -26; and C. Agreement by the City of South Bend that, to the extent that incremental sales tax revenues authorized under Ind. Code § 36 -7 -26 are not necessary in addition to tax increment revenues to meet debt service on the Commission's bonds issued to finance the Project, such sales tax revenues will revert to the State General Fund, provided however, prior to such reversion, the State Board of Finance will entertain a request by the Redevelopment Commission to demonstrate additional financing needs within the District. 3. The Commission further finds that its findings, determinations, designations and the approving and adopting actions contained in its Declaratory Resolution No. 1955 determining to create the South Side Economic Development Project District and the Development Plan for the South Side Economic Development Project District as modified and approved by the State Board of Finance on July 21, 2003 should be ratified, confirmed and approved as modified. BE IT FURTHER RESOLVED that the Commission's Declaratory Resolution No. 1955, adopted by the South Bend Redevelopment Commission on March 21, 2003 in accordance with the provisions of Ind. Code § 36 -7 -26 and the South Side Economic Development Project District Development Plan as attached as Exhibit "A" to its Declaratory Resolution No. 1955 and as modified by the State Board of Finance on July 21, 2003 is hereby ratified, confirmed and approved as modified. BE IT FURTHER RESOLVED that this Resolution constitutes final action by the Commission pursuant to Ind. Code § 36- 7- 26 -18. Page -5- BE IT FURTHER RESOLVED that, in accordance with Ind. Code § 36- 7- 26 -21, upon approval by ordinance of the South Bend Common Council approving the Conunission's determination to create the District, the Secretary is directed to transmit to the State Board of Finance a certified copy of Declaratory Resolution No. 1955 designating the District, as confirmed by this Resolution, the South Side Economic Development Plan, as modified by the State Board of Finance on July 21, 2003, and a complete list of street names and the range of street numbers of each street situated in the District. BE IT FURTHER RESOLVED that the Secretary is directed to record this Resolution in the Office of the Recorder for St. Joseph County, Indiana. ADOPTED at a regular me tmg of the South Bend Redevelopment Commission held on August 22, 2003, at Room ,54� , County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. SOUTH BEND REDEVELOPMENT COMMISSION By: Robert W. Hunt, President ATTEST: qW4' P vqm-e-e_'X� Philip J. c nda, Secretary STATE OF INDIANA ) SS: ST. JOSEPH COUNTY ) Before me, the undersigned, a Notary Public, in and for said County and State, personally appeared Robert W. Hunt and Philip J. Faccenda , known to me to be the President and Secretary respectively of the South Bend Redevelopment Commission and acknowledged the execution of the foregoing Resolution No. 1990 IN WITNESS WHEREOF, I have hereunto 22nd day of August, 2003. My Commission Expires: 09/24/2010 PAMELA S MORRIS NOTARY pUBUC STAT£ OF WDIANA ST. JOSEPH COUNTY My COMMISON EXP SEPT 242010 affixed my Notary Public Residing in St. Joseph County, IN Res - Confirmatory Comumsion.wpd Page -6- l'seal