HomeMy WebLinkAboutNo. 3081 appropriating tax increment financing revenuesRESOLUTION NO. 3081
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROPRIATING TAX INCREMENT FINANCING REVENUES FROM
ALLOCATION AREA FUND FOR THE PAYMENT OF CERTAIN OBLIGATIONS
AND EXPENSES RELATED TO THE WEST WASHINGTION - CHAPIN
DEVELOPMENT AREA ALLOCATION AREA
WHEREAS, the South Bend Redevelopment Commission (the "Commission "), the
governing body of the City of South Bend Department of Redevelopment (the "Department "), on
October 23, 1987, adopted Resolution No. 818 declaring the West Washington- Chapin Development
Area in the City of South Bend, Indiana (the "City ") to be an area needing redevelopment within the
meaning of the Redevelopment of Cities and Towns Act of 1953, as amended, which is codified at,
Indiana Code § 36-7 -14-1 et seq (the "Act "); and
WHEREAS, Resolution No. 818 and the West Washington- Chapin Development Area
Development Plan (the "Development Plan ") adopted by Resolution No. 818 on October 23, 1987
were confirmed by Resolution No. 824 adopted on December 11, 1987 (collectively, the
"Declaratory Resolution "); and
WHEREAS, the Declaratory Resolution created the West Washington Allocation Area
(South Bend Allocation Area No. 7) Special Fund ( "Allocation Area Fund ") for the purpose of
depositing into such fund tax increment revenues allocated to the Commission and resulting solely
from the increase in the assessed value of real property and improvements thereon located in
Allocation Area pursuant to Indiana Code § 36- 7- 14- 39(b)(1) and from the proceeds from the sale
or leasing of property in the Area under Indiana Code § 36- 7- 14-22, all in accordance with Indiana
Code § 36- 7- 14-26; and
WHEREAS, the Commission desires to pay certain expenses incurred by it or the City for
local public improvements that are in or serving Allocation Area from funds remaining in the
Allocation Area Fund, in accordance Indiana Code § 36- 7- 14- 39(b)(2) and certain other
expenditures incurred by the Commission in accordance with Indiana Code § 36- 7- 14- 39(b)(2); and
WHEREAS, the expenditures incurred or anticipated to be incurred by the Commission
proposed to be paid with funds from Allocation Area Fund are described on the attached Exhibit A;
and
WHEREAS, the proposed appropriations from Allocation Area Fund are not for the operating
expenses of the Commission; and
WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6- 1.1 -18 -5;
and
WHEREAS, on September 27, 2012, the Commission adopted Resolution 3081 setting a
public hearing on said appropriations for 9:30 a.m. on October 25, 2012 and authorizing the
Secretary of the Commission to duly publish notice of said hearing; and
WHEREAS, the Secretary of the Commission has caused notice of said hearing on said
appropriations to be published in accordance with law; and
WHEREAS, such public hearing was held at the Commission's meeting at 9:30 a.m. on
October 25, 2012, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601, at which all taxpayers and interested persons had an opportunity to appear and
express their views as to such additional appropriations; and
WHEREAS, the Commission now desires to approve said appropriations in a total amount of
Four Hundred Fifty Thousand and 00 /100 Dollars ($450,000.00);
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
1. The Commission hereby finds that there are insufficient funds available or provided
for in the existing budget and tax levy which may be applied to such expenses and the expenditure of
such amount from Allocation Area Fund.
2. The funds from Allocation Area Fund in the amount of Four Hundred Fifty Thousand
and 00/ 100 Dollars ($450,000.00) are hereby appropriated for the purpose of paying the expenditures
described at Exhibit A.
3. Such appropriations shall be in addition to all the appropriations provided for in the
existing budget and levy and shall continue in effect until the completion of the activities described
herein. Any surplus of such proceeds shall be credited to the proper fund as provided by law.
4. The President and /or the Secretary of the Commission are hereby authorized and
directed to certify a copy of this Resolution together with such other proceedings and actions as may
be necessary to the St. Joseph County Auditor for certification to the Indiana Department of Local
Government Finance for the purpose of obtaining its approval of the appropriations herein made.
(remainder ofpage intentionally left blank)
ADOPTED at a regular meeting of the South Bend Redevelopment Commission held on
October 25, 2012 at 1308 County -City Building, 227 W. Jefferson Boulevard, South Bend, Indiana
46601.
ATTEST:
4a� Z
Sign nur
Donald Alford, Sr., Secretary
Printed Name and Title
SOUTH BEND REDEVELOPMENT
COMMISSION
Signature
Marcia I. Jones, President
Printed Name and Title
EXHIBIT A
WEST WASHINGTON DEVELOPMENT AREA - FUND 422
2013 BUDGET SUMMARY
2013
Appropriation
Debt Service:
Debt Service Reserve Increase
Debt Service Payments
Total Debt Service
Infrastructure Projects Underway, Not Completed:
Total Infrastructure Underway, Not Completed
Other Activities:
Property Maintenance 10,000
Total Other Activities 10,000
Development Opportunity Reserve: 440,000
Infrastructure Planned:
(Could include the following projects)
Total Infrastructure Planned 0
Total Appropriation 450,000