HomeMy WebLinkAboutagenda item 2015 0925 rdc 05a1Department of
Community Investment
TO: Redevelopment Commission
FROM: Beth Leonard fuksG~
MEMORANDUM
RE: Resolution #3301 Setting October 15, 2015 Public Hearing for 2016 TIF Appropriations
DATE: September 21, 2015
Attached is a resolution setting the public hearing on the appropriations for 2016 TIP Funds. The
public hearing will be on October 15, 2015.
I would be happy to answer any.questions you may have on this matter.
·,
S: \Commlnvest\Management\Administrative Working Files\Redevelopment Commission Admin\Approriation Resolutions for Commission\2016
Appropriation Ordinances\RES3301 Setting Pub Hrg on TIF Approps.doc
227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 I P: 574-235-9371 I FAX: 574-235-9021· I SOUTHBENDIN.GOV
ITEM: 5.A.(1)
RESOLUTION NO. 3301
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. 3302 through 3314
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 Resolution No. Not-to-Exceed
River West Development Area, Allocation Resolution No. 3302 $19,700,000
Area No. 1 Fund
West Washington Allocation Area Resolution No. 3303 $1,100,000
(South Bend Allocation Area No. 7)
Special Fund
River East Development Area Resolution No. 3304 $3,800,000
No. 1 Fund
River East Residential Development Area Resolution No. 3305 $3,430,000
No. 2 Fund
South Side Development Area, Resolution No. 3306 $6,100,000
Allocation Area No. 1 Fund
South Side Development Area Resolution No. 3307 $490,503
Allocation Area No. 3 Fund
Douglas Road Economic Resolution No. 3308 $350,000
Development Area No. 1 Fund
Redevelopment Administration Resolution No. 3309 $4,500
Certified Technology Park Fund Resolution No. 3310 $2,550,000
Redevelopment Retail Resolution No. 3311 $160,406
Airport/Urban Enterprise Zone Resolution No. 3312 $50,000
Airport Bond Debt Service Reserve Resolution No. 3313 $5,000
Downtown Bond Debt Service Reserve Resolution No. 3314 $6,000
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 October 15, 2015at1308 County-City Building,
227 West Jefferson Boulevard, South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT COMMISSION
Signature
Printed Name and Title
ATTEST:
Signature
Printed Name and Title
S: \Commlnvest\Management\Administrative Working Files\Redevelopment Commission Admin\Approriation Resolutions for Commission\2016
Appropriation 01;dinances\RES3301 Setting Pub Hrg on TIF Approps.doc