HomeMy WebLinkAbout5B3 Resolution No. 3507 (Setting Public Hearing Additional 2019 TIF Appropriations)1
RESOLUTION NO. 3507
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
SETTING A PUBLIC HEARING ON ADDITIONAL 2019 APPROPRIATIONS OF TAX
INCREMENT FINANCING REVENUES
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, in accordance with the Act, the Commission, from time to time, has declared,
confirmed, and established allocation areas for certain redevelopment and economic development
areas within the District for the purposes of tax increment financing; and
WHEREAS, the Commission has further created allocation area funds for receiving tax
increment revenues received from the allocation areas; and
WHEREAS, the Commission will be presented with and will consider Resolution No.
3404, for the appropriation of funds from the Airport Bond Debt Service Reserve, Fund No. 315,
Resolution No. 3505, for the appropriation of funds from Downtown Bond Debt Service Reserve,
Fund No. 328 and Resolution No. 3506, for the appropriation of funds from South Bend Central
Development Area Building Operations, closing out Fund 425; and
WHEREAS, the Commission desires to hold a public hearing to discuss the Resolution,
which enable the Commission to pay certain expenses related to local public improvements
anticipated for the calendar year 2019, as set forth more particularly in the Resolution; and
WHEREAS, such appropriations are subject to the provisions of Indiana Code 6-1.1-18-5;
and
WHEREAS, the proposed appropriations are not for the operating expenses of the
Commission.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
1. The Commission desires to set a public hearing to discuss the Resolution for the
appropriation of the funds in the not-to-exceed amounts for the various allocation areas as set forth
below:
Allocation Area and Fund Resolution No. Fund No. Not-to-Exceed
Airport Bond Debt Service Reserve No. 3504 315 5,000
Downtown Bond Debt Service Reserve No. 3505 328 20,000
SB Central Development Area Bldg Ops No. 3506 425 8,592
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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 4:00 p.m. on October 24, 2019, at 1308
County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601.
3. This Resolution(s) 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
October 10, 2019, at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
SOUTH BEND REDEVELOPMENT
COMMISSION
______________________________
Marcia I. Jones, President
ATTEST:
______________________________
Quentin Phillips, Secretary