HomeMy WebLinkAboutNo. 1566 determining its intent to pay certain expenses incurred for local public improvements in or serving the AEDA allocation area No. 1 from the AEDA allocation area No. 1 special fundRESOLUTION NO. 1566
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION DETERMINING ITS INTENT TO PAY CERTAIN EXPENSES
INCURRED FOR LOCAL PUBLIC IMPROVEMENTS IN OR
SERVING THE AIRPORT ECONOMIC DEVELOPMENT AREA
ALLOCATION AREA NO. 1 FROM THE
AIRPORT ECONOMIC DEVELOPMENT AREA ALLOCATION
AREA NO. 1 SPECIAL FUND
WHEREAS, the South Bend Redevelopment Commission ( "Commission "), governing
body of the City of South Bend Department of Redevelopment ( "Department "), on February 23,
1990, adopted Resolution No. 919 declaring the Airport Economic Development Area to be an
economic development area within the meaning of IC 36 -7 -14 (the "Act "); and
WHEREAS, Resolution No. 919 and the Airport Economic Development Area
Development Plan were confirmed by Resolution No. 938 adopted on June 27, 1990; and
AW WHEREAS, Resolution No. 919 has been amended from time to time pursuant to the
provisions of the Act; and
WHEREAS, Resolution No. 919 created the Airport Economic Development Allocation
Area No. 1 ( "Allocation Area No. 1 ") and the Airport Economic Development Area Allocation
Area No. 1 Special Fund (the "Allocation Fund ") for purposes of paying into such fund property
tax proceeds in excess of those described in Section 39(b)(1) of the Act for the purposes as
described in Section 39(b)(2) of the Act; and
WHEREAS, the Commission desires to pay expenses incurred by it for local public
improvements that are in or serving the Allocation Area with property tax proceeds deposited in
the Allocation Fund pursuant to the Act; and
WHEREAS, such payments are authorized pursuant to Section 39(b)(2)(J) of the Act and
are subject to the provisions of IC 6- 1.1 -18 -5; and
WHEREAS, the expenditures incurred by the Commission proposed to be paid with
property tax proceeds deposited in the Allocation Fund are described on the attached Exhibit
"A" • and
WHEREAS, the Commission desires to approve said payments from the Allocation Fund
in the total amount as described on Exhibit "A "; and
WHEREAS, the proposed payment from the Allocation Fund as provided for herein is
not for the operating expenses of the Commission.
NOW, THEREFORE, BE IT RESOLVED, by the South Bend Redevelopment
Commission, governing body of the City of South Bend, Department of Redevelopment, as
follows:
1. The Commission intends to approve the use of funds in the Allocation Fund in the
amount of One Million Two Hundred Ninety -Five Thousand Dollars ($1,295,000.00) for paying
the expenditures as further described in Exhibit "A ". The Secretary of the Commission is hereby
authorized and directed to take all necessary steps to obtain the approval of the expenditure of
such funds pursuant to IC 6- 1.1 -18 -5, including the publication in accordance with IC 5 -3 -1 of
notice of a hearing on the appropriation of such funds to be held at 8:00 a.m., on January 23,
1998, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana
46601.
ADOPTED at a special meeting of the South Bend Redevelopment Commission held on
January 2, 1998, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
SOUTH BEND REDEVELOPMENT COMMISSION
By: � - - ZZ, e �& �
Robert W. Hunt, President
ATTEST:
Paula N. Auburn, Secretary
vb:res1566
RESOLUTION NO. 1566
EXHIBIT "A"
Appropriation of tax increment in the Airport Economic Development Area Allocation Area No.
1 ( "Allocation Area No. 1 ") for paying expenditures incurred by the Commission for local public
improvements in or serving the Airport Economic Development Area Allocation Area No. 1
( "Allocation Area No. 1 ") as may be authorized by IC 36- 7- 14- 39(b)(2)(J) and in a total amount
not to exceed $1,295,000.00.