HomeMy WebLinkAbout9729-06 Appropriating Fund # 434 $965,051.67ORDINANCE No.
Passed by the Common Council of the City of South Bend, Indiana
December 11,
Attest:
Attest:
20
06
Presented by me to the Mayor of the City of South Bend, Indiana
December 12, 06
20
City Clerk
President of Common Council
City Clerk
Approved and signed by me December 13 20 0 6
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ORDINANCE NO. ~ ~ Z ~t~~~°
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH
BEND, INDIANA, APPROPRIATING $965,051.67 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
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 (Commission) 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 City of South Bend received $965,051.67 of gross retail sales tax and income
tax revenue for Fiscal Year 2005 from the Indian Department of Revenue for use in the
South Bend CRED and 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.
The Commission met on November 8, 2005 and adopted Resolution No. 3-2005
pledging income tax and gross retail incremental amounts received from the State of
Indiana to repayment of the Section 108 Loan between the City of South Bend and the
U.S. Department of Housing and Urban Development and also adopted Resolution No. 4-
2005 making recommendations to the South Bend Common Council on the expenditure
of income tax and gross retail incremental amounts received from the State of Indiana for
Fiscal Year 2005.
It is necessary to appropriate these 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 $965,051.67, plus interest earned thereon, from the tax
increment revenues from the CRED is hereby appropriated and set aside within Fund 434
for demolition activities and repayment of the Section 108 Loan for the
Studebaker/Oliver Redevelopment Project.
Section II. This Ordinance shall be in full force and effect from and after its
passage by the Common Council and approval by the Mayor.
Member, South a ommon Council
Attest:
Presented by me to the Mayor of the City of south Bend, Indiana on the l L.~
day of ~.~evn~t/ , zc~b at 3 `•3~ o'clock ~.m.
City rk
Approved and signed by me on the r` Z~ day of ~,CG^, ?~G, at s: /o o'clock
~.m.
Mayor, City o outh Bend, Indiana
1 st READING ~ ~ `L 7- fi b
PUBLIC HEARING. L~.-1 I -p~O
~3 rd READING ~ L ~~ - Ob
NOT APPRO.V~fl
REFERRED
PASSED. l Z-l a -off
Fil~~i I~ ~(v~ ~~'~ ®ffice
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JO'rilJ VOGRDE
CITY CLETiK, S0. BEt!'J, IN.
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
87-06 AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF
SOUTH BEND, INDIANA, APPROPRIATING $965,051.67 OF INDIANA
COMMUNITY REVITILIZATION 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 REVITILIZATION
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.
Karen L. White
Chairperson
1200 COUN'[Y-CITY BUILDING
227 W. JEFFERSON BOULEVARD
SOUTH BEND, INDIANA 46601-1830
PIIONE 574/ 235-9371
FAx 574/235-9021
TDD 574/ 235-5567
CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR
COMMUNITY SL ECONOMIC DEVELOPMENT
SHARON T. KENDALL
EXECUTIVE DIRECTOR
November 20, 2006
South Bend Common Council
227 W. Jefferson Blvd, Suite 400
South Bend, IN 46601
Dear Council Members:
The attached bill for your consideration and approval will appropriate $965,051.67 from the Industrial
Development Fund, Fund 434, for demolition activities and repayment of the Section 108 Loan for the
Studebaker/Oliver Project. As required by Indiana Code 36-7-13-5 (c), the Council may not conduct any
business requiring expenditures from Fund 434 without the approval, in writing, of a majority of the
members of the South Bend Advisory Commission on Industrial Development.
On November 8, 2005 the Advisory Commission on Industrial Development met and unanimously
approved Resolution No. 3-2005 pledging CRED revenues to repayment of the Section 1081oan between
the City of South Bend and the U.S. Department of Housing and Urban Development and Resolution No.
4-2005 recommending that the $965,051.67 received for Fiscal year 2005 be appropriated and spent for
the repayment of the Section 108 Loan for the Studebaker/Oliver Project. A copy of Resolutions No. 3-
2005 and No. 4-2005 are attached for your review.
Subsequent to that meeting of the Advisory Commission, the U.S. Department of Housing and Urban
Development allowed the Advisory Commission to release $97,200.00 from the pledge of CRED
revenues. That money was released to be used for demolition activities. I have attached the correspondence
from HUD approving the release. The Advisory Commission will meet, prior to the Council's public
hearing of this bill, to amend Resolution 4-2005 to authorize the use of $97,200.00 for demolition
activites. I will provide that amended Resolution to the Council prior to the December 11`~ public hearing.
I will attend both the Committee and Council hearings to present this bill.
Please call me at 245-6112 if you have any questions.
Sincerely
- Filed In Clerk's C~fice
NOV 2 1 2006
Andy Laurent
Economic Development Specialist
dOHN VOORDE
Cl7Y CI,'rrK, S0.8END, iN.
COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL HL PROGRAM fff~~~~
PAMELA C. MEYER DONALD E. INKS MANAGEMENT
5?41235-9660 574/235-9371 ELIZA6ETH LEONARD ~ I
PAX: 574/235-9697 574/235-9371