HomeMy WebLinkAboutNo. 0673 authorizing the commission to petition the Portage Township assessor for a reassessment of property in the East Bank Dev. Allocation AreaRESOLUTION NO.
673
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION AUTHORIZING THE COMMISSION TO
PETITION THE PORTAGE TOWNSHIP ASSESSOR FOR A
REASSESSMENT OF PROPERTY IN THE "EAST BANK
DEVELOPMENT ALLOCATION AREA."
WHEREAS, the South Bend Redevelopment Commission
(Commission) has passed Resolution Number 632 on the 16th day of
January, 1981, declaring the East Bank Development Area to be an
allocation area for the purposes of allocating and distributing
certain property taxes on taxable real property in the allocation
area pursuant to I.C. 36- 7- 14- 39(b); and
WHEREAS, the effective date of the allocation provision
of Resolution Number 632 was March 1,1980; and
WHEREAS, pursuant to I.C. 36- 7- 14- 39(b)(2), when col-
lected, the allocated real property tax proceeds shall be paid in-
to a special fund that may be used by the redevelopment district
only to:
(a) pay the principal of and interest on any
obligations payable from allocated tax pro-
ceeds which are incurred by the redevelop-
ment district for the purpose of financing
or refinancing the redevelopment of the
allocation area; or
(b) reimburse the City of South Bend for
expenditures made by it for public improve-
ments in the allocation area, or for ren-
tals paid by it for a building or parking
facility in the allocation area under any
lease entered into under I.C. 36 -1 -10; and
WHEREAS, certain blighted conditions within the alloca-
tion area so declared have required public improvements for which
expenditures will be made or have been made by the City of South
Bend, which public improvements are necessary for the
redevelopment of the allocation area.
NOW THEREFORE, BE IT RESOLVED by the South Bend Re-
development Commission, as follows:
SECTION 1. The public improvements listed on Schedule
A, attached hereto and made a part hereof, are necessary for the
redevelopment of the "East Bank Development Allocation Area."
SECTION 2. Expenditures made by the City of South Bend
for the pu is improvements listed in Schedule A shall be reim-
bursed to the City of South Bend from real property taxes col-
lected and allocated to the redevelopment district for purposes
permitted under I.C. 37- 14- 39(a)(b)(B).
SECTION 3. The Commission shall petition the Portage
Township Assessor to reassess the taxable property situated upon
or in or added to the "East Bank Development Allocation Area,"
effective on the next assessment date after the petition.
M
Adopted at the Regular Meeting of the South Bend Rede-
velopment Commission held on February 11, 1983, in the Office of
the Commission, 1200 County -City Building, 227 West Jefferson
Boulevard, South Bend, Indiana 46601.
CITY OF SOUTH BEND
REDEVELOPMENT COMMISSION
-2-
A
RESOLUTION NO. 673
SCHEDULE A
EAST BANK DEVELOPMENT ALLOCATION AREA
1. Acquisition and Relocation
2. Utility Relocation
3. Pedestrian Paths /Bikeways
4. Landscaping /Parks Improvements
5. Lighting
6. Street /Sidewalk Improvements
7. Parking Areas and Garages
8. Pedestrian Bridge