HomeMy WebLinkAboutResolution No. 3468 (Setting Hearing Date for Appropriations)RESOLUTION NO. 3468
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
SETTING A PUBLIC HEARING ON THE APPROPRIATION OF TAX INCREMENT
FINANCING REVENUES FROM VARIOUS ALLOCATION AREAS FOR THE
PAYMENT OF CERTAIN OBLIGATIONS AND EXPENSES RELATED TO THEIR
RESPECTIVE ALLOCATION AREAS FOR CALENDAR YEAR 2019 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 36-7-14, 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 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, Resolutions No. 3471 through 3475 appropriating the funds from various
allocations areas of the District (collectively, the "Resolutions") will be presented to and
considered by the Commission; 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 or otherwise in accordance with the Act, which appropriations
are set forth in more detail in the Resolutions; 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 the 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
Resolution No.
Fund No.
Not -to -Exceed
River West Development Area
Resolution No. 3471
324
$22,000,000
River East Development Area
Resolution No. 3472
429
$2,000,000
South Side Development Area, #1 General
Resolution No. 3473
430
$7,000,000
Douglas Road Economic Development Area
Resolution No. 3474
435
$240,000
Redevelopment Retail
Resolution No, 3475
425
$15,000
Totals $31,255,000
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 applicable laws, 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 February 14, 2019, at
1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601.
3. This Resolution will be in full force and effect upon its adoption by the
Commission.
ADOPTED at a regular meeting of the South Bend Redevelopment Commission held
on January 24, 2019, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
ATT
Dobald E. As, Secretary
SOUTH BEND REDEVELOPMENT
COMMISSION
Marcia I. Jones, Oiident
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