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GC -( Z) <br />RESOLUTION NO. 2880 <br />A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION <br />SETTING A PUBLIC HEARING ON THE APPROPRIATION OF TAX INCREMENT <br />FINANCING REVENUES FROM AIRPORT ECONOMIC DEVELOPMENT <br />ALLOCATION AREA FOR THE <br />PAYMENT OF CERTAIN OBLIGATIONS AND EXPENSES RELATED TO THEIR <br />RESPECTIVE ALLOCATION AREAS AND OTHER RELATED MATTERS <br />WHEREAS, the South Bend Redevelopment Commission (the Commission "), the governing <br />body of the Department of Redevelopment of the City of South Bend, Indiana (the "City ") and the City of <br />South Bend, Indiana, Redevelopment District (the "District "), exists and operates under the provisions of <br />Indiana Code § 36 -7 -17, as amended (the "Act "); and <br />WHEREAS, the Commission, from time to time, has declared, confirmed and established <br />allocation areas for areas needing redevelopment and economic development areas within the District for <br />purposes of tax increment financing pursuant to the Act; and <br />WHEREAS, the Commission has further created allocation area funds for the purpose of receiving <br />tax increment financing revenues received from the allocation areas; and <br />WHEREAS, there have been presented to the Commission Resolution No. 2881 appropriating the <br />funds from various allocations areas of the District; and <br />. WHEREAS, the Commission desires to appropriate the allocation area funds to pay certain <br />expenses incurred by it or the City for local public improvements that are in or serving their respective <br />allocation areas, which appropriations are set forth in more detail in the Resolutions; and <br />WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6- 1.1 -18 -5; and <br />WHEREAS, the proposed appropriations are not for the operating expenses of the Commission; <br />and <br />NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT <br />COMMISSION AS FOLLOWS: <br />1. The Commission desires to approve the use of the funds of the various allocation areas, as set <br />forth in their respective Resolutions, which allocation areas, resolutions and not -to- exceed appropriation <br />amounts are set forth below: <br />Allocation Area and Fund Resolution No. Not -to- Exceed <br />Airport Economic Development Area, Resolution No. 2881 $8,500,000 <br />Allocation Area No. 1 Fund <br />2. The President and Secretary of the Commission are each hereby authorized and directed to <br />