HomeMy WebLinkAboutNo. 1404 determining to pay certain expenses incurred for local public improvements in or serving the AEDAAA (No. 1) from the AEDAAA (No. 1) special fundRESOLUTION NO. 1404
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
DETERMINING TO PAY CERTAIN EXPENSES INCURRED FOR LOCAL PUBLIC
IMPROVEMENTS IN OR SERVING THE AIRPORT ECONOMIC DEVELOPMENT
AREA ALLOCATION AREA NO. 1 ( "ALLOCATION AREA NO. V) FROM THE
AIRPORT ECONOMIC DEVELOPMENT AREA ALLOCATION AREA NO. 1
SPECIAL FUND (THE "ALLOCATION 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
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. V) 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
co 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 hereby approves the use of funds in the Allocation Fund in the amount of One
Hundred and Thirty-Five Thousand Dollars ($135,000.00) for purposes of 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 10:00 a.m., on January 2, 1996 at 1308 County-City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
ADOPTED at a regular meeting of the South Bend Redevelopment Commission held on December
15, 1995, at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT COMMISSION
By:
Philip J. Facc da, resident
ATTEST
Robert W. Hunt, Secretary
ML:res 1404
RESOLUTION NO. 1404
EXHIBIT "A"
Appropriation of tax increment in the Airport Economic Development Area Allocation Area No. 1
( "Allocation Area No. V) for local public improvements in or serving the Airport Economic Development
Area Allocation Area No. 1 ( "Allocation Area No. V) as may be authorized by IC 36- 7- 14- 39(b)(2)(J) and
IC 36- 7- 14- 25.1(a) in a total amount not to exceed $135,000.00.