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Home My WebLink About6.E.(4) Resolution No. 2561L~ l RESOLUTION NO. 2561 A RESOLUTION OF "I'1IE SOCTH BEND KEDEVELOPMENT COMMISSION SETTING A PCI3LIC HEAKING O\ TIIE .APPROPRIATION OF TAX INCREMENT FINANCING REVENUES FROM THE AIRPORT ECONOR~IIC DEVELOPMENT 1 URBAN EN"1'ERPRISE ZONE SPECIAL ZONE FUND FOR "1'HE PAYI1ENT OF CERTAIN OBLIGATIONS AND EXPENSES RELATED TO'I'HE AIRPOR"T ECONOMIC DEVELOP:~1ENT AREA AND THE URBAN EN"1'ERPRISE ZONE ~~'IIEREAS, the South L3end Redevelu~~ment Commission (the "Commission`). the governing body ofthc Department of Rcdcvclopmcnt of the City of South L3cnd. Indiana (the "City ) and the City of South Bend. Indiana. Redc~elopmcnt District. exists and operates under the ~~ro~°isions of Indiana Code ~ 36-7-1-1. as amended (the "act"): and ~~'HEREAS, on February ?~. 1990, the Commission adopted Resolution No. 919 (the declaring the Airport Economic De~~elopmcnt area (the "area°) to be an economic de~~elopment area ~~ ithin the meaning of the Act and dcsi~~natcd the Area as the Airport Economic Deg-elopment Area .Allocation Area No. I (°Allocation Area I~~o. 1 ~~) fi~~r purposes oftax increment linancingpursuanl to the Act: and WHEREAS. Resolution No. 919 and the Airport Economic De~~elopment Arca Economic Development Plan (the "Development Plan") adopted by Resolution No. 919 on February? 3. 1990 were confirmed by Resolution ~o. 938 ad~~ptcd on ,~UnC ?7. 1990 (coilecti~el~. the ~~lleclaratorv Resolution~~); and WHEREAS, the Declaratory Resolution created the Airport Economic De~~clopment Area Allor<rtion Arca No. 1 Fund (~~Allocation Area'y~o. 1 Fund") for the purpose of depositing into such fund tax increment revenues allocated to the Commission and resulting solely from the increase in the assessed value of real property and impro~~cmcnts thereon located in Allocation Arca ?x~o. 1 pursuant to Indiana Code ~ 36-7- 14-39(h)(1) and from the proceeds ti~om the sale or leasing of property in the Arca under Indiana Cudc ~ 36-7-14-??. all in accordance with Indiana Code ~ 36-7- 14-x6: and ~k'HEREAS, the Commission, on April 16. 1993, adopted Rese~lution No. 1151 declaringthe Sample-E~~~in~~ Dcr~lopmcnt Area ("St~a)A~~) to be an area ncedin~a redevelopment within the meaning of the Act: and ~~'HEREAS, Resolution A~o. 1 151 and the Sample-E~~~in~~ De~~clupment Arca De~~~lopment Plan ~~~ere confirmed by Resolution !~~o. 1 154 adopted on May ? I. 1993_ and ~~'l1EREAS, Resolution No. 1151 created the Sam~~le-E~a~in<~ Allocation Area (South Bend allocation Arca No. 8) (the "SEDA Allocation area~~) fbr the purpose of depositin~~ into an allocation area fund (the °S1~:DA ~111ocation I~und~~) tax increment rc~~enucs allocated to the Conul~ission and resulting solely from the increase in the assessed value of personal property and real property and improvements thereon located in the SEDA Allocation Area pursuant to huiiana Code ~ 36 7 1 d 39(b)(1) and ti-om the proceeds from the sale or leasing of property in the Arca under Indiana Codc ~ 36 7-14-2?, all in accordance ~~~ith hldiana Codc ~ 36-7-14-26: and ~~'IiGREAS. [he Declaratory Resolution ~a~as fw-ther amended by the Resolution '~o. ?34~ and Resolution ti~o. ?3>l, adopted on June 19, ?007 and .luly ?0. ?007 respectively and said resolution expanded the Arca by adding and consolidating the SEDA into the Area (collectively referred to hereafter as the "Area~~) and expanded Allocation Area No. 1 by adding and consolidating the SEDA Allocation Arca into Allocation Arca No. 1 (collectively referred to hereafter as ..Allocation Arca I~'o. 1 ~~): and ~~'HEREAS. under the Declaratory Resolution. the funds and deposits of the SEDA Allocation Funds have further been consolidated and deposited with Allocation Area No. I Fund (a~llectivcly referred to hereafter as "Allocation Arca No. 1 Fund"): and ~~'HEREAS, on October ?7. ?003. the South Bend Common Council adopted Resolution I~'o. 3?61-03, requesting that the State Enterprise lone Board establish the Urban Enterprise "Lone (the ~'7onc'~1 as an enterprise zone within the mcanin~~ of Indiana Codc ~ 4-4-6. I (no~~~ Indiana Code 5-?8-15) which was approved by the State of Indiana, effective January 1, ?004, for a period of ten (10) years and expiring on December 31. ?013: and WHEREAS, the purpose for the existence of the 7_.one is to: (1) Increase the number of jobs in the Zonc by retention and expansion of existing businesses and attraction and development of new businesses; and (?) Improve the quality of~ life of zone residents, impro~~c zone residents' employability, and till zone jobs with zone residents: and ~~'HEREAS, due to an overlap in the Area and the %one (the "(hcrlap Arca~~). the Airport Economic Development Area ~ Urban Enterprise Zonc Special Lone Fund ~~~as established for the purpose of depositing into a special Lund (the °Lone I Fund") tax increment revenues allocated to the Commission and resulting solely ti-om the increase in the assessed value of personal property and real property and improv ements thereon located in the Overlap Area pursuant to Indiana Code ~ 36- 7 14 39(g); and ~'~'ii EREAS, pursuant to Indiana Codc ~ 3(i-7-1 ~ 39(g), tax increment revenues allocated to the Commission and resulting solely from the increase in the assessed value ofpersonal propa-ty and real property and improvements thereon located in the O~~crlap Area have been transferred 1i~om the Allocation Arca No. I Fund into the Zonc Fund; and ~~~ HEREAS, the Commission desires to pay certain expenses incurred by third parties for programs located in or serving the Orcrlap Area from funds remaining in the 7_one Fund. in accordance ~~~ith Indiana Codc ~ 3G-7-I-1-39(g) and certain other expenditures incurred by the Commission in accordance ~~~ith [ndiana Codc ~ 36-7-1~1-39(b)(?): and WHERE.aS, the expenditures incurred or anticipated to be incurred by the Commission proposed to be paid ~~~ith funds from the Zone Fund arc described on the attached Exhibit A: and ~k'HERGAS, the proposed appropriations from the 7.one Fund arc not for the operating expenses of the Conunission: and ~k'HEREAS, such appropriations arc subject to the provisions of Indiana Code ~ 6-I . I-1 R 5; and l~'HEREAS, on February 6. 2009. the Commission adopted Resolution No. 2561 setting a ~~ublic hearing on said appropriations t<x- 10:00 a.m. on February ~0. 2009, and authorizing the Scerctar~~ of the Commission to duly publish notice of said hearing: and ~~'HGRE.aS, the Secretai}~ of the Commission has caused notice of said hearing on said appropriations to be published in accordance ~~~ith la~~~: and WHEREAS, such public hearing ~~as held at the Cummission~s meeting at 10:00 a.m. on February 20, 2009. at 1 30& County-City Building. 227 West .lefterson Boulez-ard. South Bend. Indiana 46601, at which all taxpayers and interested persons had an opportunity to appear and express their ~~ic~~~s as to such additional appropriations: and Vb`HEREAS, the Commission no~~ desires to appro~~c said appropriations in a total amount of Six Hundred Twenty Three Thousand Eighty Six and 00' 100 Dollars (5623.086.00): NO~'b~, THEREFORE, BF, IT RESOLVED BY THG SOUTH BE1~D REDE~~'ELOP~~1ENT C019~11SS101\ .AS FOLLOWS: 1 . The Commission desires to appro~ c the use of the funds of the AEDA%CEZ Special Zone Fund. as set frx-th in the Resolution. which Allocation Area. Resolution and not-to-exceed appropriation amount is as set idrth bclo~~~: nllocalion .1rca aid Fund Resolution No. Vot-to-Exceed hEDA~UF:7 Special Zonc Fund Resolution No. 2562 62 3,086.00 ?. The president and Secretary of the Commission are each herebti~ authorized and directed to take all necessary steps to obtain the appro~~al of the expenditures of suds funds pursuant to Indiana Code ~ 6-I. I-18-5, includin<~ the publication in accordanec ~~~ith lndiana Code ~ S-;-I of notice of a hearing on the appropriation of such funds to be held at 10:00 a.m. on February 20, 2009, at 1308 County-Cit}~ Building. 227 west Icfl~erson Boulc~-ard. South Bend, Indiana 46601. ADOPTED at a mcctin<~ of the South Bend Rcdc~clo~~mcnt Commission held on February 6, ?009 at I X08 County-City [3uilding. 2?7 W. Jetterson Boulevard. South Bend. [ndiana 46601 . .~TTF.~ \~Ll]tlll~f.' SOUTH BEND REDEVELOPMENT COVI'VIISSION 1le,unrrr. Prirhd.A~in~~ <<nd 7<<ir Prbrh d Ainn~ ~unl lillr