HomeMy WebLinkAboutResolution No. 3450 (West Washington Development Area)RESOLUTION NO. 3450
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 WASHINGTION-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 233 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 422 are not for
the operating expenses of the Commission; and
WHEREAS, on September 13, 2018, the Commission adopted Resolution 3448 setting a
public hearing on said appropriations, which public hearing, pursuant to the Commission's
action acknowledged at its public meeting on October 11, 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
October 11, 2018,.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 Nine Hundred Thousand Dollars ($900,000.00);
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
1. The funds from
Thousand Dollars, ($900,000.00)
expenditures described at Exhibit A.
Allocation
are hereby
Area Fund 422 in the amount of Nine Hundred
appropriated for the purpose of paying the
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
October 11, 2018,at 1308 County -City Building, 227 W. Jefferson Boulevard, South Bend, Indiana
46601.
A1ST:
Sign tore
Donald E. Inks, Secretary
Printed Name and Title
SOUTH BEND REDEVELOPMENT
CO ISSION
ignature
Marcia I. Jones President
Printed Name and T ztle
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WEST WASHINGTON DEVELOPMENT AREA - FUND 422
2019 BUDGET SUMMARY
2019
Appropriation
Debt Service:
Debt Service Payments 0
Total Debt Service 0
Projects Underway, Not Completed
Washington/Colfax Apartments
Total Projects Underway, Not Completed 0
Other Activities:
Total Other Activities 0
Development Opportunity Reserve: 900,000
Projects Planned:
West Washington Area Improvements
Total Projects Planned 0
Total Appropriation 900,000