HomeMy WebLinkAboutResolution No. 3509 (Setting Public Hearing Additional 2019 TIF Appropriations -RWDA No. 1)RESOLUTION NO. 3509
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
SETTING A PUBLIC HEARING ON ADDITIONAL 2019 APPROPRIATIONS OF TAX
INCREMENT FINANCING REVENUES FROM
THE RIVER WEST DEVELOPMENT AREA ALLOCATION AREA 1
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 previously was presented with Resolution No. 3471, which
it approved on February 14, 2019, appropriating tax increment financing revenues from River West
Development Area Allocation Area No. 1 Fund 324; and
WHEREAS, one expenditure for which the monies were appropriated in Resolution No.
3471 was incorrectly set forth, causing a deficit; and
WHEREAS, the Commission will be presented with and will consider Resolution No.
3512, for the additional appropriation of funds from the River West Development Area, Allocation
Area No. 1, Fund No. 324 in order to pay the remaining expenses (the "Resolution"); and
WHEREAS, the Commission desires to hold a public hearing to discuss the Resolution,
which enables the Commission to pay the incorrectly budgeted expense, which constitutes a debt
service payment related to local public improvements due and owing in 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 additional funds in the amount of Five Thousand Eighty Dollars ($5,080.00)
from the River West Development Area, Allocation Area No. 1, Fund 324.
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 December 12, 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
November 14, 2019, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
ATTEST:
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Quentin Phillips, Secretary
SOUTH BEND REDEVELOPMENT
COMMISSION
Marcia I. Jones, PfZsfdent
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