HomeMy WebLinkAboutResolution No. 3445 (West Washington Allocation Area)RESOLUTION NO. 3445
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROPRIATING TAX INCREMENT FINANCING REVENUES FROM ALLOCATION
AREA FUND FOR THE PAYMENT OF CERTAIN OBLIGATIONS AND EXPENSES
RELATED TO THE WEST WASINGTION-CHAPIN DEVELOPMENT AREA
ALLOCATION AREA
WHEREAS, the South Bend Redevelopment Commission (the "Commission"), the
governing body of the City of South Bend Department of Redevelopment (the "Department"), on
October 23, 1987, adopted Resolution No. 818 declaring the West Washington -Chapin
Development Area in the City of South Bend, Indiana (the "City") to be an area needing
redevelopment within the meaning of the Redevelopment of Cities and Towns Act of 1953, as
amended, which is codified at, Indiana Code § 36-7-14-1 et seq (the "Act"); and
WHEREAS, Resolution No. 818 and the West Washington -Chapin Development Area
Development Plan (the "Development Plan") adopted by Resolution No. 818 on October 23, 1987
were confirmed by Resolution No. 824 adopted on December 11, 1987 (collectively, the
"Declaratory Resolution"); and
WHEREAS, the Declaratory Resolution created the West Washington Allocation Area
(South Bend Allocation Area No. 7) Special Fund ("Allocation Area 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 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 desires to pay certain expenses incurred by it or the City for
local public improvements that are in or serving Allocation Area from funds remaining in the
Allocation Area 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 Fund are described on the attached Exhibit
A; and
WHEREAS, the proposed appropriations from Allocation Area Fund are not for the
operating expenses of the Commission; and
WHEREAS, on August 23, 2018, the Commission adopted Resolution 3440 setting a
public hearing on said appropriations, which public hearing, pursuant to the Commission's
action acknowledged at its public meeting on September 13, 2018; 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 9:30 a.m. on
September 13, 201.8 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 appropriations; and
WHEREAS, the Commission now desires to approve said appropriations in a total amount
of Four Hundred Thousand ($400,000.00);
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
1. The funds from Allocation Area Fund in the amount of Four Hundred
Thousand Dollars,($400,000.00) are hereby appropriated for the purpose- of paying the
expenditures -described at Exhibit A.
2. 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, 2018 at 1308 County --City Building, 227-W. Jefferson Boulevard, South .Bend,
Indiana 46601.
ATT T:
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Sign ure
Donald E. Inks
Printed Name and Title
SOUTH BEND REDEVELOPMENT
COMMISSION
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Signature
Marcia I Jones President
Printed Name and Title
EXHIBIT A
WEST WASHINGTON DEVELOPMENT AREA - FUND 422
2018 BUDGET SUMMARY
(Additional Appropriation - September 2018)
2018
Appropriation
Debt Service:
Debt Service Payments
0
Total Debt Service
0
Projects Underway, Not Completed
Total Projects Underway, Not Completed
0
Other Activities:
Total Other Activities
0
Development Opportunity Reserve:
0
Projects Planned:
Washington/Colfax Apartments
400,000
Total Projects Planned
400,000
Total Appropriation
400,000