HomeMy WebLinkAboutNo. 3078 setting public hearing on appropriation of TIF revenues from various allocation areas for pmt. of certain obligations/expenses related to their respective allocation areas and other related mattersRESOLUTION NO. 3078
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 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 -17, as amended (the -Act"): and
WHEREAS, the Commission, from time to time, has declared, confinned and established
allocation areas for areas needing redevelopment and economic development areas within the District for
IL 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, there have been presented to the Commission Resolutions No. 3079 through 3092
appropriating the funds from various allocations areas of the District (collectively, the "Resolutions "): 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, which appropriations are set forth in more detail in the Resolutions; 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;
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:
14
N
Allocation Area and Fund
Airport Economic Development Area,
Allocation Area No. 1 Fund
South Bend Central Development Area,
(South Bend Allocation Area No. 1 A) Special
Fund
West Washington Allocation Area
(South Bend Allocation Area No. 7)
Special Fund
Downtown Medical Services District
Special Fund
Northeast Neighborhood Development Area
No. 1 Fund
Northeast Neighborhood Development Area
No. 2 Fund
South Side Development Area,
Allocation Area No. l Fund
South Side Development Area
Allocation Area No. 3 Fund
Douglas Road Economic
Development Area No. 1 Fund
Racnlntinn Nn
Resolution No. 3079
Resolution No. 3080
Resolution No. 3081
Resolution No. 3082
Resolution No. 3083
Resolution No. 3084
Resolution No. 3085
Resolution No. 3086
Resolution No. 3087
Airport Bond Debt Service Reserve Resolution No. 3090
Blackthorn Golf Debt Service Reserve Resolution No. 3091
Downtown Bond Debt Service Reserve Resolution No. 3092
Not -to- Exceed
$24,000,000
$5,100,000
$450,000
$3,900,000
$2,350,000
$3,816,000
$5,700,000
$500,000
$450,000
$5,000
$326,050
$6,000
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 Indiana Code § 6 -1.1-
18 -5, 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 October 25, 2012 at 1308 County -City Building,
227 West Jefferson Boulevard, South Bend, Indiana 46601.
SOUTH BEND RED LO MENT COMMISSION
tz� EV
Signntat-e
Marcia I. Jones, President
Printed Name and Title
ATT S
T: :
S[gliature
Donald Alford, Sr., Secretary
Printed Name and Title
F: IDATA,SHAREiECONDE! "Ordinances Resolutions120i3 Appropriation OrdinanceslPab Hrg Nonce Amended Res 3078 2013 T!F Approps.doc