HomeMy WebLinkAboutagenda item 2015 1015 rdc 05b05RESOLUTION NO. 3306
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROPRIATING TAX INCREMENT FINANCING REVENUES FROM
ALLOCATION AREA NO. 1 FUND FOR THE PAYMENT OF CERTAIN
OBLIGATIONS AND EXPENSES RELATED TO THE SOUTH SIDE DEVELOPMENT
AREA ALLOCATION AREA NO. 1
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, exists and operates under
the provisions oflndiana Code§ 36-7-14, as amended (the "Act"); and
WHEREAS, on November 1, 2002, the Commission adopted Resolution No. 1914 (the
"Declaratory Resolution") declaring the South Side Development Area (the "Area") to be an area
needing redevelopment within the meaning of the Act and designated the Area as the South Side
Development Area Allocation Area No. 1 ("Allocation Area No. 1 ")for purposes of tax increment
financing pursuant to the Act; and
WHEREAS, on November 19, 2002, the Area Plan Commission of St. Joseph County
("Plan Commission") issued its written order approving the Declaratory Resolution by the
adoption of Plan Commission Resolution 142-02, in accordance with Indiana Code § 36-7-14-
16; and
WHEREAS, on November 25, 2002, the Common Council of the City approved the order
of the Plan Commission through the adoption of Common Council Resolution No. 3136-02; and
WHEREAS, on December 20, 2002, the Commission held a duly noticed public hearing,
in accordance with Indiana Code§ 36-7-14-17 and Indiana Code§ 5-3-1; and
WHEREAS, following said hearing, the Commission adopted Resolution No. 1928
confirming the Declaratory Resolution; and
WHEREAS, the Declaratory Resolution created the South Side Development Area
Allocation Area No. 1 Fund ("Allocation Area No. 1 Fund") for the purpose of depositing into
Thirty increase in the assessed value of real property and improvements thereon located in
Allocation Area No. 1 pursuant to Indiana Code§ 36-7-14-39(b)(l) and from the proceeds from
the sale or leasing of property in the Area under Indiana Code§ 36-7-14-22, all in accordance
with Indiana Code§ 36-7-14-26; and ·
WHEREAS, the Commission desires to pay certain expenses incurred by it or the City for
local public improvements that are in or serving Allocation Area No. 1 from funds remaining in
the Allocation Area No. 1 Fund, in accordance Indiana Code§ 36-7-14-39(b)(2) and certain other
expenditures incurred by the Commission in accordance with Indiana Code§ 36-7-14-39(b)(2);
and
ITEM: 5.B.(5)
WHEREAS, the expenditures incurred or anticipated to be incurred by the Commission
proposed to be paid with funds from Allocation Area No. 1 Fund are described on the attached
Exhibit A; and
WHEREAS, the proposed appropriations from Allocation Area No. 1 Fund are not for the
operating expenses of the Commission; and
WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6-1.1-
18-5; and
WHEREAS, on September 25, 2015, the Commission adopted Resolution 3301 setting a
public hearing on said appropriations for 9:30 a.m. on October 15, 2015 and authorizing the
Secretary of the Commission to duly publish notice of said hearing; and
WHEREAS, the Secretary of the Commission has caused notice of said hearing on said
appropriations to be published in accordance with law; and
WHEREAS, such public hearing was held at the Commission's meeting at 9:30 a.m. on
October 15, 2015, at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601, at which all taxpayers and interested persons had an opportunity to appear and
express their views as to such additional appropriations; and
WHEREAS, the Commission now desires to approve said appropriations in a total amount
of Six Million One Hundred Thousand and 00/100 Dollars ($6,100,000.00);
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
1. The funds from Allocation Area No. 1 Fund in the amount of Six Million One
Hundred Thousand and 00/100 Dollars ($6,100,000.00) are hereby appropriated for the purpose
of paying the expenditures described at Exhibit A.
2. 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 Department of
Local Government Finance for the purpose of obtaining its approval of the appropriations herein
made.
ADOPTED at a regular meeting of the South Bend Redevelopment Commission held on
October 15, 2015 at 1308 County-City Building, 227 W. Jefferson Boulevard, South Bend, Indiana
46601.
ATTEST:
Signature
Printed Name and Title
SOUTH BEND REDEVELOPMENT
COMMISSION
Signature
Printed Name and Title
EXHIBIT A
SOUTH SIDE DEVELOPMENT AREA #1 -FUND 430
2016 BUDGET SUMMARY
Debt Service:
Debt Service Payments
Total Debt Service
Projects Underway, Not Completed
Total Projects Underway, Not Completed
Other Activities:
Total Other Activities
Development Opportunity Reserve:
Projects Planned:
Chippewa Improvements
Total Projects Planned
Total Appropriation
2016
Appropriation
0
0
0
0
6, 100,000
0
6,100,000