HomeMy WebLinkAboutResolution No. 3268 Setting Public Hearing for Additional 2015 Redevelopment AppropriationsRESOLUTION NO. 3268
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
SETTING A PUBLIC HEARING ON THE APPROPRIATION OF REDEVELOPMENT
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 oflndiana 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. 3270 through
3272 and Resolution No. 3266 appropriating 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:
Resolution No. 3268
Page 2
Allocation Area and Fund
River West Economic Development Area
Allocation Area No. 1 Fund
Downtown Medical Services District
Special Fund
River East Neighborhood Development
Area No. 1 Fund
South Side Development Area
Allocation Area No. 3 Fund
Certified Technology Park Fund
Resolution No. Not-to-Exceed
Resolution No. 3269 $27,000,000
Resolution No. 3270 $686,000
Resolution No. 3271 $5,800,000
Resolution No. 3272 $202,000
Resolution No. 3266 $3,451,000
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 12,
2015, at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601.
REDEVELOPMENT COMMISSION OF THE
CITY OF SOUTH B ND
Donald E. Inks, Secretary
Printed Name and Title
S: \Commlnvest\Management\Administrative Working Files\R.edevelopment Commission Admin\Approriation Resolutions for Commission\2015
Appropriation Ordinances\RES3268 Setting Pub Hrg on Add'! TIF Approps.docx