HomeMy WebLinkAbout9553-04 Appropriating $655,267 of Indiana Community Revitalization Enhancement District within the Industrial Devel. FundORDINANCE No. 9s~~oa
Passed by the Common Council of the City of South Bend, Indiana
November 22, 20 04
Attest:
Attest: ~S ..~1~ c><~
Presented by me to the Mayor of the City of South Bend, Indiana
November 23,
20 04
Ciry Clerk
President of Common Council
Ciry Clerk
November-23, 04
Approved and signed by me 20
Mayer
ORDINANCE NO. I S S 3 ~~
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,
INDIANA, APPROPRIATING $655,267 OF
INDIANA COMMUNITY REVITALIZATION ENHANCEMENT DISTRICT
INCREMENT FUNDS WITHIN THE INDUSTRIAL DEVELOPMENT FUND,
FUND 434, FOR THE PURPOSE OF DEVELOPMENT AND REDEVELOPMENT
WITHIN THE CITY OF SOUTH BEND STUDEBAKER/OLIVEROOMMUNITY
REVITALIZATION ENHANCEMENT DISTRICT
Statement of Purpose and Intent:
This Council approved a Resolution on June 10, 2002 authorizing the Mayor to submit an
application to the South Bend Advisory Commission on Industrial Development that would allow
for the designation of a Community Revitalization Enhancement District (CRED). The South Bend
Advisory Commission on Industrial Development approved and designated a CRED entitled the
"City of South Bend Studebaker/Oliver Community Revitalization Enhancement District" on July
13, 2002. The Mayor has been notified that a sum of $655,267 of tax incremental revenue is being
disbursed by the Indiana Department of Revenue for use in the South Bend CRED. It is necessary
to appropriate such funds for the purpose of revitalization work in the Studebaker/Oliver CRED.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South
Bend, Indiana, as follows:
SECTION I. The sum of $655,267, plus interest earned thereon, from the tax increment
revenues from the CRED is hereby appropriated and set aside within Fund 434 for use in
development and redevelopment activities (including acquisition, relocation, demolition, site
preparation, environmental studies and clean-up, disposition, etc.) taking place in the CRED.
SECTION II. According to Indiana Code 36-7-13-5(c), the Council may not conduct any
business requiring expenditures from the industrial development fund without the approval, in
writing, of a majority of the members of the South Bend Advisory Commission on Industrial
Development.
SECTION III. This Ordinance shall be in full force and effect from and after its passage by
the Common Council and approval by the Mayor.
u ,~_ ~~
Member, South Bend Com on Council
Attest:
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Presented by me to the Mayor of the City of South Bend, Indiana on the L 3 ~ c\ day of
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Arpr~ved and sued by me on the~3 r`~day of c+z>- , 2~, at /:z~ o'clock
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~y [.t_2- C
Mayor, City o outh Bend, Indiana
1st READING 1 ~~~ ~~
PUBLIC HEARING I ~-L2--~y
3 rd READING ~\-ZL'Oy
NOT APPROVED
REFERRED ~{
PASSED 1 ~'LZ~ d 1
Filed !n Clerk's Office
iIOV -~ 200
JOHN VOORDE
Ct1Y CLERK, S0. BEND, IN.
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
83-04 A BILL OF THE COMMON COUNCIL OF THE CITY OF
SOUTH BEND, INDIANA, APPROPRIATING $655,267 OF
INDIANA COMMUNITY REVITALIZATION ENHANCEMENT
DISTRICT INCREMENT FUNDS WITHIN THE INDUSTRIAL
DEVELOPMENT FUND, FUND 434, FOR THE PURPOSE OF
DEVELOPMENT AND REDEVELOPMENT WITHIN THE CITY
OF SOUTH BEND STUDEBAKER/OLIVER COMMUNITY
REVITALIZATION ENHANCEMENT DISTRICT
Respectfully report that they have examined the matter and that in their opinion, this bill
is being recommended to the full Council with a favorable recommendation.
Sean Coleman
Chairman
1200 COUNTY-CITY BUILDING
227 W. JEFFERSON BOULEVARD
SOUTH BEND, INDIANA 46601-1830
PHONE 574/235-9371
FAx 574/235-9021
TDD 574/ 235-5567
CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR
COMMUNITY ~L ECONOMIC DEVELOPMENT
SHARON T. KENDALL
EXECUTIVE DIRECTOR
November 1, 2004
South Bend Common Council
4"' Floor, County City Building
227 West Jefferson
South Bend, IN 46601
Dear Common Council Members:
Enclosed is an Ordinance appropriating $655,267, plus the interest earned thereon, which is tax
incremental revenue from the City of South Bend Studebaker/Oliver Community Revitalization
Enhancement District. These funds will be used to implement the Studebaker/Oliver
Redevelopment Strategy previously adopted by the Common Council.
This sum represents the state tax increment income from the CRED designated in the
Studebaker/Oliver Redevelopment Project Area. These revenues are for the state fiscal years
2002, 2003, 2004.
I respectfully request your approval of this Ordinance. Please contact me at 245-6112 with any
questions you have concerning this ordinance. I will be presenting this item at the Committee
and Council hearings.
Sincerely,
An y Laurent
Economic Development Specialist
Filed nl Clert~'s Office
t10V - 3 2004
JOHN VOORDE
CITY CLERK, S0. BEND, IN.
COMMUNITY~DEVELOPMENT ECONOMIC DEVELOPMENT ~ FINANCIAL SL PROGRAM
PAMELA C. MEYER DONALD E. INKS MANAGEMENT
574/235-9660 574/235-9371 EL¢AeErH LEONARD
FAX: 574/235-9697 574/235-9371