6.E.(4) Resolution No. 2561 - Laserfiche WebLink

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L~ 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