HomeMy WebLinkAboutNo. 1271 determining 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. 1271
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. 1") 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. 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 hereby approves the use of funds in the Allocation Fund in the
amount of One Hundred Thirty -four Thousand, Eight Hundred Fifty -six Dollars and 96 Cents
($134,856.96) for paying the expenditures as 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 July 15, 1994 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 July 1, 1994, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
SOUTH BEND REDEVELOPMENT COMMISSION
By:
Paula N. Auburn, President
ATTEST:
Theo F. Shan , Secretary
ML:resl271
RESOLUTION NO. 1271
E IMIT "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
$134,856.96.