HomeMy WebLinkAboutResolution No. 3440 (Setting Purblic Hearing for Additional 2018 TIF Appropriations)RESOLUTION N0.3440
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
SETTING A PUBLIC HEARING ON THE ADDITIONAL APPROPRIATION OF
2018 TAX INCREMENT
FINANCING REVENUES FROM VARIOUS ALLOCATION AREAS FOR THE
PAYMENT OF CERTAIN OBLIGATIONS AND EXPENSES RELATED TO THEIR
RESPECTIVE ALLOCATION AREAS AND OTHER RELATED MATTERS
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 (the "District"), exists and operates under the provisions of
Indiana Code § 36-7-17, as amended (the "Act"); and
WBEREAS, the Commission, from time to time, has declared, confirmed and established
allocation areas for areas needing redevelopment and economic development areas within the District for
purposes of tax increment financing pursuant to the Act; and
WHEREAS, the Commission has further created allocation area funds for the purpose of receiving
tax increment financing revenues received from the allocation areas; and
WHEREAS, there have been presented to the Commission Resolutions No. 3441 through 3446
appropriating the funds from various allocations areas of the District (collectively, the "Resolutions"): and
WHEREAS, the Commission desires to appropriate the allocation area funds to pay certain
expenses incurred by it or the City for local public improvements that are in or serving their respective
allocation areas, which appropriations are set forth in more detail in the Resolutions; and
WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6-1.1-18-5; and
WHEREAS, the proposed appropriations are not for the operating expenses of the Commission;
and
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
1. The Commission desires to approve the use of additional funds of the various allocation areas,
as set forth in their respective Resolutions, which allocation areas, resolutions and not -to -exceed
appropriation amounts are set forth below:
Allocation Area and Fund
River West Development Area, Allocation
Area No. 1 Fund
River East Development Area, Allocation
Area No. 1 Fund
South Side #3 Development Area
Douglas Road Development Area
West Washington Development Area
Redevelopment Retail
Resolution No. Not -to -Exceed
Resolution No. 3441 $2,000,000
Resolution No. 3442 $2,000,000
Resolution No. 3443
$13000,000
Resolution No. 3444
$ 605000
Resolution No. 3445
$ 4001000
Resolution No. 3446
$ 160,000
2. The President and Secretary of the Commission are each hereby authorized and directed to take
all necessary steps to obtain approval of the expenditures of such funds pursuant to Indiana Code § 6-1.1
18-5, including the publication in accordance with Indiana Code §5-3-1 of notice of a hearing on the
appropriation of such funds to be held at 9:30 a.m. on September 13, 2018 at 1308 County -City Building,
227 West Jefferson Boulevard, South Bend, Indiana 46601.
SOUTH BEND REDEVE OPMENT COMMISSION
Signature
Marcia 1. Jones, President
Printed Name and Title
ATTE
Sighature
Don E. Inks, Secretary
Printed Name and Title
S'ICoinminvestlManagetnentlAdministrative Working FileslRedevelopment Commission AdminlAnrniallYEARLYConh•act Repol•ting
RDCIApproriation Resohitions for CommissionlREiS'3378 Setting Pub Hrg on Additional TIFApprops.doc