HomeMy WebLinkAboutNo. 3238 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 I
il RESOLUTION NO. 3238
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
1 APPROPRIATING TAX INCREMENT FINANCING REVENUES FROM
ALLOCATION AREA FUND FOR THE PAYMENT OF CERTAIN
1 OBLIGATIONS AND EXPENSES RELATED TO THE NORTHEAST
1 NEIGHBORHOOD
DEVELOPMENT AREA ALLOCATION AREA#2
1 WHEREAS, the South Bend Redevelopment Commission ("Commission"),
jgoverning 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
I § 36-7-14 ("Act"); and
1 WHEREAS, Resolution No. 2016 and the Northeast Neighborhood Development
1 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
3
1 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
1 WHEREAS, Resolution 2016 was further amended by Resolution 2250, adopted
I July 21, 2006, and said resolution expanded the Northeast Neighborhood Development
I Area by adding Expansion Area No. 1; and
I
1 WHEREAS, Resolution 2016 was further amended by Resolution 2311, adopted
3 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
f
1 WHEREAS, Resolution 2016 was further amended by Resolution 2312, adopted
1 February 16, 2007, and said resolution expanded the Northeast Neighborhood
:1 Development Area by adding Expansion Area No. 2; and
a
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
1 2344, adopted June 19, 2007, which was confirmed by Resolution 2350 adopted on June
1
I 19, 2007; and
,
1
1q
3
d
5
1
1
i
1 WHEREAS, Resolution 2016 was further amended by Resolution 2341, adopted
June 22, 2007; and
1 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
1 WHEREAS, the Commission, in accordance with the Act, has previously
3 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;
l and Expansion Area No. 2 by the Resolution 2312, adopted February 16, 2007; and
1
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
3
WHEREAS,the Commission adopted Resolutions 2344 and 2350, designating an
j 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
a
39 and 48 of the Act; and
WHEREAS, Resolution 2016 was further amended by Resolution 2370, adopted
September 7, 2007; and
I,
WHEREAS, Resolution 2016 was further amended by Resolution 2446, adopted
1 April 18, 2008; and
z
X WHEREAS, such appropriations are subject to the provisions of Indiana Code §
i 6-1.1-18-5; and
s
WHEREAS, on September 11, 2014, the Commission adopted Resolution 3232
g setting a public hearing on said appropriations for 9:30 a.m. on October 16, 2014 and
authorizing the Secretary of the Commission to duly publish notice of said hearing; and
1
WHEREAS,the Secretary of the Commission has caused notice of said hearing on
Isaid appropriations to be published in accordance with law; and
i WHEREAS, such public hearing was held at the Commission's meeting at 9:30
a.m. on October 16, 2014, at 1308 County-City Building, 227 West Jefferson Boulevard,
South Bend, Indiana 46601, at which all taxpayers and interested persons had an
i
opportunity to appear and express their views as to such additional appropriations; and
i
1
I
6
1
I
1
i
WHEREAS,the Commission now desires to approve said appropriations in a total
1 amount of Three Million Four Hundred Twenty Five Thousand Six Hundred Thirty Two
and 00/100 Dollars ($3,425,632.00);
1
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND
1 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 Four
Hundred Twenty Five Thousand Six Hundred Thirty Two and 00/100 Dollars
1 ($3,425,632.00) are hereby appropriated for the purpose of paying the expenditures
described at Exhibit A.
3
l
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
I activities described herein. Any surplus of such proceeds shall be credited to the proper
fund as provided by law.
1 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
1 Department of Local Government Finance for the purpose of obtaining its approval of the
i appropriations herein made.
ADOPTED at a regular meeting of the South Bend Redevelopment Commission
I held on October 16, 2014 at 1308 County-City Building, 227 W. Jefferson Boulevard,
# South Bend, Indiana 46601.
f
SOUTH BEND REDEVELOPMENT
I COMMISSION
/ i
Signature
I Marcia I. Jones, President
AT T: Printed Name and Title
} ure li 6(2/...-------
1� i ature
Donald E. Inks, Secretary
Printed Name and Title
3
I
.
;4
,
1
i
1 EXHIBIT A
I
1
1 NORTHEAST RESIDENTIAL DEVELOPMENT AREA-FUND 436
1 2015 BUDGET SUMMARY
3
I
I2015
I D Appropriation
Debt Service:
i Debt Service Payments 3425,632
1
1
Total Debt Service 3,425,632
Infrastructure Projects Underway, Not Completed
1 Total Infrastructure Underway, Not Completed 0
1 Other Activities'
Total Other Activities 0
1
Development Opportunity Reserve:
0
Infrastructure Planned:
(Could include the following projects)
ct
i
Total Infrastructure Planned 0
1
1 Total Appropriation 3,425,632
)
/
tl
i
2
I
1
I
i
1
1
1
1
i
1
I
1
i
1
1
.!
i
A
I
1
i