HomeMy WebLinkAbout6A (1)A (1)
MEMORANDUM
TO: Redevelopment Commission
FROM: Beth Leonard Inks
RE: Resolution #3040 Setting June 28, 2012 Public Hearing for 2012 Additional SBCDA
Appropriation
DATE: May 24, 2012
Attached is a resolution setting the public hearing on an additional appropriation of 2012
SBCDA TIF Funds. The funding for this appropriation is available from debt service reserves
released upon payoff of SBCDA bonds of 1990/1996 in February of 2012 and the majority of the
money will be used to cover a correction in the 2012 debt service calculation for the 2003/2011
SBCDA bonds.
I would be happy to answer any questions you may have on this matter.
F .•IDATAISHAREIECONDErOrdinances Resolutions12012 Appropriation OrdinanceslRes3035 reg for pub hrg 2012 Addl SBCDA.doc
RESOLUTION NO. 3040
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
SETTING A PUBLIC HEARING ON THE APPROPRIATION OF SOUTH BEND
CENTRAL DEVELOPMENT AREA TAX INCREMENT FINANCING REVENUES FOR
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- 32 -23, as amended (the "Act "); and
WHEREAS, 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 certified technology park funds pursuant to the Act; and
WHEREAS, there have been presented to the Commission Resolution No. 3041 appropriating the
funds of the District (the "Resolution "): 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 appropriation is subject to the provisions of Indiana Code § 6- 1.1 -18 -5; and
WHEREAS, the proposed appropriation is 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 the funds of the various allocation areas, as set
forth in the following Resolution, which appropriation amount is set forth below:
Allocation Area and Fund Resolution No. Not -to- Exceed
South Bend Central Development Area Fund Resolution No. 3041 $822,500
2. The President and Secretary of the Commission are each hereby authorized and directed to
take all necessary steps to obtain the 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 June 28, 2012, at 1308 County -City Building,
227 West Jefferson Boulevard, South Bend, Indiana 46601.
ADOPTED at a meeting of the South Bend Redevelopment Commission held on May 31, 2012 at
1308 County -City Building, 227 W. Jefferson Boulevard, South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT COMMISSION
Signature
Printed Name and Title
ATTEST:
Signature
Printed Name and Title
F: IDATAISHARE ECONDE6'I0rdinances Resolutions12012 Appropriation OrdinancesWes3035 req for pub hrg 2012 Addl SBCDA.doe