HomeMy WebLinkAbout6A (1)(2)RESOLUTION NO. 2936
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROPRIATING TAX INCREMENT FINANCING REVENUES FROM
ALLOCATION AREA NO. 1 FUND FOR THE PAYMENT OF CERTAIN
OBLIGATIONS AND EXPENSES RELATED TO THE AIRPORT
ECONOMIC DEVELOPMENT AREA ALLOCATION AREA NO. 1
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, exists and operates under the
provisions of Indiana Code § 36 -7 -14, as amended (the "Act "); and
WHEREAS, on February 23, 1990, the Commission adopted Resolution No. 919 (declaring
the Airport Economic Development Area (the "Area ") to be an economic development area within
the meaning of the Act and designated the Area as the Airport Economic Development Area
Allocation Area No. 1 ( "Allocation Area No. 1 ") for purposes of tax increment financing pursuant to
the Act; and
WHEREAS, Resolution No. 919 and the Airport Economic Development Area Economic
Development Plan (the "Development Plan") adopted by Resolution No. 919 on February 23, 1990
were confirmed by Resolution No. 938 adopted on June 27, 1990 (collectively, the "Declaratory
Resolution "); and
WHEREAS, the Declaratory Resolution created the Airport Economic Development Area
Allocation Area No. 1 Fund ( "Allocation Area No. 1 Fund ") for the purpose of depositing into such
fund tax increment revenues allocated to the Commission and resulting solely from the increase in
the assessed value of real property and improvements thereon located in Allocation Area No. 1
pursuant to Indiana Code § 36- 7- 14- 39(b)(1) and from the proceeds from the sale or leasing of
property in the Area under Indiana Code § 36- 7- 14-22, all in accordance with Indiana Code § 36-7-
14-26; and
WHEREAS, the Commission, on April 16,1993, adopted Resolution No. 1151 declaring the
Sample -Ewing Development Area ( "SEDA ") to be an area needing redevelopment within the
meaning of the Act; and
WHEREAS, Resolution No. 1151 and the Sample -Ewing Development Area Development
Plan were confirmed by Resolution No. 1154 adopted on May 21, 1993; and
WHEREAS, Resolution No. 1151 created the Sample -Ewing Allocation Area (South Bend
Allocation Area No. 8) (the "SEDA Allocation Area ") for the purpose of depositing into an
allocation area fund (the "SEDA Allocation Fund ") tax increment revenues allocated to the
Commission and resulting solely from the increase in the assessed value of personal property and
real property and improvements thereon located in the SEDA Allocation Area pursuant to Indiana
Code § 36- 7- 14- 39(b)(1) and from the proceeds from the sale or leasing of property in the Area
under Indiana Code § 36- 7- 14-22, all in accordance with Indiana Code § 36- 7- 14-26; and
WHEREAS, the Declaratory Resolution was further amended by the Resolution No. 2348
and Resolution No. 2351, adopted on June 19, 2007 and July 20, 2007 respectively and said
resolution expanded the Area by adding and consolidating the SEDA into the Area (collectively
referred to hereafter as the "Area ") and expanded Allocation Area No. 1 by adding and consolidating
the SEDA Allocation Area into Allocation Area No. 1 (collectively referred to hereafter as
"Allocation Area No. V); and
WHEREAS, under the Declaratory Resolution, the funds and deposits of the SEDA
Allocation Funds have further been consolidated and deposited with Allocation Area No. 1 Fund
(collectively referred to hereafter as "Allocation Area No. 1 Fund "); and
WHEREAS, the Commission desires to pay certain expenses incurred by it or the City for
local public improvements that are in or serving Allocation Area No. 1 from funds remaining in the
Allocation Area No. 1 Fund, in accordance Indiana Code § 36- 7- 14- 39(b)(2) and certain other
expenditures incurred by the Commission in accordance with Indiana Code § 36- 7- 14- 39(b)(2); and
WHEREAS, the expenditures incurred or anticipated to be incurred by the Commission
proposed to be paid with funds from Allocation Area No. 1 Fund are described on the attached
Exhibit A; and
WHEREAS, the proposed appropriations from Allocation Area No. 1 Fund are not for the
operating expenses of the Commission; and
WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6- 1.1 -18—
5; and
WHEREAS, on August 23, 2011, the Commission adopted Resolution 2935 setting a public
hearing on said appropriations for 4:00 p.m. on September 13, 2011 and authorizing the Secretary of
the Commission to duly publish notice of said hearing; and
WHEREAS, the Secretary of the Commission has caused notice of said hearing on said
appropriations to be published in accordance with law; and
WHEREAS, such public hearing was held at the Commission's meeting at 4:00 p.m. on
September 13, 2011, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601, at which all taxpayers and interested persons had an opportunity to appear and
express their views as to such additional appropriations; and
WHEREAS, the Commission now desires to approve said appropriations in a total amount
of Five Million and 00 /100 Dollars ($5,000,000.00);
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
1. The Commission hereby finds that there are insufficient funds available or provided
for in the existing budget and tax levy which may be applied to such expenses and the expenditure of
such amount from Allocation Area No. 1 Fund.
2. The funds from Allocation Area No. I Fund in the amount of Five Million and
00 /100 Dollars ($5,000,000.00) are hereby appropriated for the purpose of paying the expenditures
described at Exhibit A.
3. Such appropriations shall be in addition to all the appropriations provided for in the
existing budget and levy and shall continue in effect until the completion of the activities described
herein. Any surplus of such proceeds shall be credited to the proper fund as provided by law.
4. The President and/or the Secretary of the Commission are hereby authorized and
directed to certify a copy of this Resolution together with such other proceedings and actions as may
be necessary to the St. Joseph County Auditor for certification to the Indiana Department of Local
Government Finance for the purpose of obtaining its approval of the appropriations herein made.
ADOPTED at a regular meeting of the South Bend Redevelopment Commission held on
September 13, 2011 at 1308 County -City Building, 227 W. Jefferson Boulevard, South Bend,
Indiana 46601.
ATTEST:
Signature
Printed Name and Title
SOUTH BEND REDEVELOPMENT
COMMISSION
Printed Name and Title
EXHIBIT A
AIRPORT ECONOMIC DEVELOPMENT AREA - FUND 324
2011 BUDGET SUMMARY
2011
Appropriation
Debt Service:
Debt Service Reserve Increase 0
Debt Service Payments 0
Total Debt Service 0
Infrastructure Projects Underway, Not Completed
0
Total Infrastructure Underway, Not Completed 0
Other Activities:
0
Total Other Activities
0
Development Opportunities:
Development Opportunity Reserve
2,399,597
Total Development Opportunities
2,399,597
Infrastructure Planned:
(Could include the following projects)
Animal Shelter
Charter School
Conduit Construction
Ignition Park - East Expansion
Ignition Park - Infrastructure
Ignition Park - South Expansion
Ignition Park - West Expansion
Interchange Design & Environmental Study
Ivy Tech Expansion Acquisitions - East Sample
LaSalle Square Acquisition /Infrastructure
LaSalle Square Signage
Mayflower Road Re- alignment
Mayflower Trunk Sewer - East of Bypass
Miscellaneous Acq /Demo /Reloc
EMI - Clean -up & Rehab
Millenium Environmental
West side of Prairie - Towing Site
Olive Extension - North to Adams
Oliver Industrial Houses
Oliver Plow Site Improvements
Residential Sewer/Water Extension - West of bypass
Studebaker /Oliver Project
Voorde Park
Other
Total Infrastructure Planned
2,600,403
Total Appropriation
5,000,000
City of South Bend
Airport Economic Development Area
1st 2nd 3rd 2011
Appropriation Appropriation Appropriation Total
Total Debt Service
4,434,575
4,434,575
Original Airport Economic Development Area
Airport Industrial Park - South Shore Trail
1,085
1,085
Blackthorn Capital Equipment
53,599
53,599
Blackthorn Corp. Park Marketing
25,000
25.000
Blackthorn Golf Course Strategic Plan
10,000
10,000
Blackthorn Miscellaneous Expense
50,000
50,000
Blackthorn Owners Association Dues
40,000
40,000
Bosch Facility Holding Costs
40,000
40,000
Criminal Correction Facility - Public Infrastructure (Trade Drive)
381,342
381,342
Commerce Drive Extension/ Sheridan
108,290
51,000
159,290
Maplewood Acquisition
49,300
49,300
Nimtz Parkway Path A
38,800
38,800
Olive Extension No. to Adams
425,874
425,874
Olive - LWW to Nimtz Engineering, ROW Acquisition & Construction
730,027
730,027
Voorde Park
22,000
32,097
295,903
350,000
Original Sample Ewing Development Area
Fire Station #5 - Predevelopment
15,000
15,000
Ignition Park - Acquisition /Relocation /Demolition - East
462,720
462,720
Ignition Park - Acquisition /Relocation /Demolition - South
584.068
640,778
50,807
1,275,653
Ignition Park - Acquisition /Relocation /Demolition - West
27,736
130,000
157,736
Ignition Park - Coordination (Hathaway 2 & rental space)
104,165
104,165
Ignition Park - Data Realty
1,100.000
1,400,000
2,500,000
Ignition Park - Infrastructure
1,608,434
1,391,566
108,434
3,108,434
Ignition Park - Marketing /Branding (Blue Waters)
774,696
774,696
Ignition Park - Miscellaneous Acquisitions
9,465
9,465
Ignition Park - Overlay Zone
43,361
43,361
Ignition Park - Planning
440,500
440,500
Ivy Tech Expansion Acquisitions - East Sample
1,374,765
7,503
1,382,268
Oliver Plow Memorial
679,596
6,038
685,634
Oliver Plow Site Improvements
9,175
200,000
209,175
SE Park Acquisition /Demolition
83,400
750
84,150
Studebaker /Oliver Project
6,368,256
152,823
206,839
6,727,918
Cotter Street Construction
50,000
50,000
Portage Prairie
Cleveland Road /Dylan /Brick Intersection
1,222
1,222
Interchange Design & Environmental Study
138,676
138,676
Mayflower Road Realignment & Improvements
46,087
2,506,878
2,552,965
Mayflower Trunk Sewer - East of bypass
88,820
1,353,922
1,442,742
LaSalle Square Area
Acquisition
12,000
625,000
637.000
Infrastructure
78,825
245,155
138.420
462,400
Areawide
Animal Shelter
1,423,478
400,000
1,823,478
City Professional Services - Legal
75,000
75,000
Conduit - (Metronet)
60,000
60.000
Property Maintenance
45,000
17.690
62,690
Other
30,391
30,391
Total Projects
16,571,353
8,500,000
2,600,403
25.071,353
TOTAL PROJECTS & DEBT SERVICE COMMITTED 21,005,928 8,500,000 2,600,403 32,106,331
Available Development Opportunity Reserve 0 0 2,399,597 2,399,597
TOTAL BUDGETED 21,005,928 8,500.000 5,000,000 34,505,928
9/9/2011 F: \DATA \SHARE \ECONDEV\FPM \Budgets \Budget 2011 \Don's additional approp schedule AEDA and WW.xls
2011 Appropriations
Encumbrances carried forward from 2010
Total Appropriated for 2011
Cash @ 1/1/11
Revenue thru 8/31/11:
TIF tax distribution
Interest
Property Sales
Other
Total @ 8/31/11
Anticipated Revenue 9/1/11 - 12/31/11:
TIF tax distribution
Interest
Total @ 12/31/11
Appropriation Over /(Under) Cash Available
2/8/2011
611412011
9/1312011
2011
Res. #2819
Res. #2881
Res. #2936
Total
13,745,000
8,500,000
5,000,000
27,245,000
7,260,930
0
0
7,260,930
21,005,930
8,500,000
5,000,000
34,505,930
9/9/2011 F:\ DATA\ SHARE \ECONDEV\FPM \Budgets \Budget 2011\Don's additional approp schedule AEDA and WW.xls
28,535,435
5,952,841
45,684
166,116
75,393
34,775,469
5,447,159
15,000
40,237.628
(5,731,698)