HomeMy WebLinkAbout9735-07 Appropriating Fund # 434 $1,000,000ORDINANCE No.
Passed by the Common Council of the City of South Bend, Indiana
January 22,
Attest:
,VOORDE
Attest: ^%. ., /6~
20 07
City Clerk
President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
January 23,
20 07
City Clerk
Approved and signed by me January 24 2007
Mayor
ORDINANCE NO. ~ 35-0
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH
BEND, INDIANA, APPROPRIATING $1,000,000.00 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 $1,000,000.00 of gross retail sales tax and
income tax revenue for Fiscal Year 2006 from the Indiana Department of Revenue for
use in the South Bend CRED. 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. The Commission subsequently
met on December 7, 2006 and adopted Resolution 6-2006 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 2006.
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 $1,000,000.00, plus interest earned thereon, from the tax
increment revenues from the CRED is hereby appropriated and set aside within Fund 434
for 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 B d Common Council
Attest:
Cler
Presented by me to the Mayor of the City of south Bend, Indiana on the 23
day of ~c~~,~<;,~,~, 2~1, at z-`•SO o'clock ~.m.
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Approved and signed by me on the day of G~-~-- ,2~, at a: ~ o'clock
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Mayor, City o uth Bend, Indiana
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1 st READING
PUBLIC HEARING `_ZZ~ ul
3rd READWG ~-LL
NOT APPROVED
REFERRED.
PASSED `"Z~--~ `~ ~
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JOHN VOOROE
CITY CLERK, 50.6END, IN.
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
2-07 PUBLIC HEARING ON A BILL OF COMMON COUNCIL OF THE CITY
OF SOUTH BEND, INDIANA, APPROPRIATING $1,000,000.00 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.
Karen L. White
Chairperson
1200 CouNTY-CITY BUILDING
227 W. JEFFERSON BOULEVARD
SOUTH BEND, INDV+NA 46601-1830
PHONE 574/235-9371
FAx 574/235-9021
TDD 574/ 235-5567
CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR
COMMUNITY ~ ECONOMIC DEVELOPMENT
SHARON T. KENDALL
EXECUTIVE DIRECTOR
January 2, 2007
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 $1,000,000.00 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 December 7, 2006 the Advisory Commission on Industrial Development met and
unanimously approved Resolution No. 6-2006 recommending that the $1,000,000.00 received for
Fiscal year 2006 be appropriated and spent for the repayment of the Section 108 Loan for the
Studebaker/Oliver Project. A copy of Resolution 6-2006 is attached for your review.
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,
Andy Laurent
Economic Development Specialist
COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT
PAMELA C. MEYER DONALD E. INKS
574/235-9660 574/235-9371
FAX: 574/235-9697
FINANCIAL Ht PROGRAM
MANAGEMENT
ELIZABETH LEONARD
574/235-9371
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