HomeMy WebLinkAboutNo. 3084 appropriating tax increment financing revenuesRESOLUTION NO. 3084
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 NORTHEAST
NEIGHBORHOOD
DEVELOPMENT AREA ALLOCATION AREA #2
WHEREAS, the South Bend Redevelopment Commission ( "Commission "),
governing body of the City of South Bend Department of Redevelopment
( "Department "), on November 17, 2003, adopted Resolution No. 2016 declaring the
Northeast Neighborhood Development Area to be a blighted area within the meaning of
Indiana Code § 36 -7 -14 ( "Act "); and
WHEREAS, Resolution No. 2016 and the Northeast Neighborhood Development
Area Development Plan ( "Plan') adopted by Resolution No. 2016 on November 17,
2003, were confirmed by Resolution No. 2021, adopted on December 19, 2003; and
WHEREAS, Resolution No. 2016 established the boundaries of the Northeast
Neighborhood Development Area ( "Area ") as set forth at Exhibit A; and
WHEREAS, Resolution 2016 was amended by Resolution 2054, adopted May
21, 2004; and
WHEREAS, Resolution 2016 was further amended by Resolution 2128, adopted
February 18, 2005; and
WHEREAS, Resolution 2016 was further amended by Resolution 2250, adopted
July 21, 2006, and said resolution expanded the Northeast Neighborhood Development
Area by adding Expansion Area No. 1; and
WHEREAS, Resolution 2016 was further amended by Resolution 2311, adopted
February 16, 2007, and said resolution removing a portion of property from the Northeast
Neighborhood Development Area, which removed areas is referred to herein as
Contracted Area No. 1; and
WHEREAS, Resolution 2016 was further amended by Resolution 2312, adopted
February 16, 2007, and said resolution expanded the Northeast Neighborhood
Development Area by adding Expansion Area No. 2; and
WHEREAS, Resolution 2016 was further amended to establish a housing
program (the "Housing Program ") and declare a housing allocation area in the Area by
Resolution 2344, adopted June 19, 2007, which was confirmed by Resolution 2350
adopted on June 19, 2007; and
WHEREAS, Resolution 2016 was further amended by Resolution 2341, adopted
June 22, 2007; and
WHEREAS, Section 39 of the Act permits the creation of an allocation area
within a redevelopment area to provide for the allocation and distribution, as provided by
the Act, of the proceeds of taxes levied on property situated in the allocation area; and
WHEREAS, the Commission, in accordance with the Act, has previously
established the Northeast Neighborhood Development Area, Allocation Area No. 1; and
WHEREAS, the Commission, in accordance with the Act, expanded the
boundaries of the Northeast Neighborhood Development Area, Allocation Area No. 1 to
include Expansion Area No. 1 by the adoption of Resolution 2250, adopted July 21,
2006; and Expansion Area No. 2 by the Resolution 2312, adopted February 16, 2007; and
WHEREAS, the Commission, in accordance with the Act, contracted the
boundaries of the Northeast Neighborhood Development Area, Allocation Area No. 1 to
exclude Contracted Area No. 1, by the adoption of Resolution 2311, adopted February
16, 2007; and
WHEREAS, the Commission adopted Resolutions 2344 and 2350, designating
an area previously within Northeast Neighborhood Development Area, Allocation Area
No. 1, as the Northeast Neighborhood Development Area, Allocation Area No. 2, a
housing allocation area established to support the Housing Program, all in accordance
with Sections 39 and 48 of the Act; and
WHEREAS, Resolution 2016 was further amended by Resolution 2370, adopted
September 7, 2007; and
WHEREAS, Resolution 2016 was further amended by Resolution 2446, adopted
April 18, 2008; 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 3078
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 Three Million Two Hundred Twenty -eight Thousand Five Hundred and
00 /100 Dollars ($3,228,500.00);
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 Three Million Two
Hundred Twenty -eight Thousand Five Hundred and 00 /100 Dollars ($3,228,500.00) 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.
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:
4�4 Z.
Donald Alford, Sr., Secretary
Printed Name and Title
SOUTH BEND REDEVELOPMENT
COMMISSION
rZICIZ.0 ignature
Marcia 1. Jones, President
Printed Name and Title
EXHIBIT A
NORTHEAST RESIDENTIAL DEVELOPMENT AREA - FUND 436
2013 BUDGET SUMMARY
2013
Appropriation
Debt Service:
Debt Service Reserve Increase 0
Debt Service Payments 3,228,226
Total Debt Service 3,228,226
Infrastructure Projects Underway, Not Completed
Total Infrastructure Underway, Not Completed 0
Other Activities:
Total Other Activities
Development Opportunity Reserve: 274
Infrastructure Planned:
(Could include the following projects)
Total Infrastructure Planned n
Total Appropriation 3,228,500