HomeMy WebLinkAboutNo. 3199 setting a public hearing on the appropriation of TIF revenues from various allocation areas for the payment of certain obligations and expenses related to their respective allocation areas and other related mattersRESOLUTION NO. 3199
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, confirmed and established
allocation areas for areas needing redevelopment and economic development areas within the District for
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. 3200 through 3202
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:
Allocation Area and Fund
Northeast Neighborhood Development Area
No. 1 Fund
Northeast Neighborhood Development Area
No. 2 Fund
Douglas Road Economic
Development Area No. 1 Fund
Resolution No. Not -to- Exceed
Additional
Resolution No. 3200 $450,000
Resolution No. 3201 $260,000
Resolution No. 3202 $50,000
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 February 27, 2014 at 1308 County -City Building,
227 West Jefferson Boulevard, South Bend, Indiana 46601.
SOUTH BEND RMEVELOPMENT COMMISSION
s
Signature
Marcia I. J es, President
Printed Name and Title
AT S :
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S g ture
nald E. Inks, Secretary
Printed Name and Title
S. IComminvestManagementt4dministrative Working FileslRedevelopment Commission AdminUpproriation Resolutions for Commission12014
Appropriation OrdinancesWES3199 Setting Pub Hrg on addl TIF Approps. doc