HomeMy WebLinkAboutNo. 1172 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. 1172
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
i
WHEREAS, Resolution No. 919 created the Airport Economic
Development Allocation Area No. 1 ( "Allocation Area No. 111) 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 make lease payments 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) (F) of the Act and are subject to the provisions of IC
6- 1.1 -18 -5; and
WHEREAS, the lease payments 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 Sixty -four Thousand
Dollars ($164,000.00) for purposes of making lease payments as
described on 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 16, 1993 at 1308 County -City
Building, 227 West Jefferson Boulevard, South Bend, Indiana
46601.
i
Of the South Bend Redevelopment
regular mee1993� at 1308 County -
City Building, 227
ADOPTED at a Indiana 46601.
commission ferson Boulevard', South Bend, PMENT COMMISSION
West Jef REDEVELO
SOUTH BEND
ATTEST:
r.,
Theo F.
Sha ,Secret
RES1172
By' Auburn, President
Paula N.
ADOPTED at a regular meeting of the South Bend Redevelopment
Commission held on June 18, 1993, at 1308 County -City Building, 227
West Jefferson Boulevard, South Bend, Indiana 46601.
ATTEST:
Theo F. Sha , Secret _
RES1172
LIM
SOUTH BEND REDEVELOPMENT COMMISSION
By: /V
Paula N. Auburn, President
.
ry
MIA
RESOLUTION NO. 1172
EXHIBIT "A"
Appropriation of tax increment in the Airport Economic Development
Area Allocation Area No. 1 ( "Allocation Area No. 1 ") for making
lease payments payable for local public improvement in or serving
the allocation Area payable pursuant to IC36- 7- 14- 39(b)(2)(F) in a
total amount not to exceed $164,000.00.