6.A.(1)&(2) Public Hearing Resolution NO. 2562

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~ ~ ~ ~~~ i r RESI~LUTI+~N Nr ~6~ A RES~LUT~(~N ~F THE S[JTH ~E1~D REDE'~ELO~~IVIENT ~(]il1~IISIO~N APPRO~PRIATI TAB ~N~REIVIENT FINAN~CIN~ RE'~EN~]E '~ THE AIRF~RT EI~~NI~IVII DE'~EL~PI~IENT I L~RBA~I ENTERPRISE ~C~~E SPECIAL BONE ~'~]ND FIR THE PAYIV~ENT ~' CERTAIN I~BLICATI[INS A~ EXPENSES RELATED TI3 THE AIRPI~RT EC~NMII~ DE~EL~PENT AREA AND T`HE URBAN ENTERPRISE +~IVE 'WHEREAS, the South Bend Rede~elopn~et~t Con~issxan ~th~ ~`Cammiss~on"'}, the governing body of the ~epartn~ent of Redevelopment ofthe City ofouth Bend, lndiana {tho.~,ityh~~ and the City of South Bend, Indiana, l~.ede~elopnaent District, exists a.nd operates under the p~•ovisions of Indiana Code ~ ~ ~-~~ ~ ~, as amended the "Act"}; and `WHEREAS, on Feb~~uary ~~, l 9~4a the Commiss~an adapted Resolution Rio, 1 ~ the declaring the Airport Ecanoinic Develaprnent Area the "area'"~ to be an economic de~lelopment area within the meaning ofthe Act and designated the Area as the Airport Economic De~relapment Area Allocation Area Na. l ~"Allocation Area No,1 `'} for purposes aftax increment f~nancing pursuant to the Act; and WHEREAS, ~esalution No. '~ 1 ~ and the Airport Economic I~e~elopn~ent Area E~conoiriic Development Plan the "l~eveloptnent Plan"} adopted. by Resolution Ida. 919 on Fehruar~y ~,199~ mere confi~-rr~ed by Resolution ~a. 93 ~ adopted on June 7, I ~~ collectively, the "Declaratory Reolutl~on`,}; and WHEREAS, the Declaratory Resolution created the Airport Economic Development Area Allocation Area No.1 Fund ~"Allocation Area Na.1 Fund'}for the purpose of depositing into such fund tax increrrient revenues allocated to the Commission and resulting solely frorrl the increase in the assessed. value of real property and improvements thereon located in Allocation .Area No. 1 pursuant to Indiana. Code ~ ~-7-14-9~h~~ 1 }and from the proceeds from the sale or leasing of property in the Area under rndiana Code ~ ~-7-14-2, all in accordance with lndiana Code ~ ~--7- 14-2~G; and WHEREAS, the Commission, c~ri April 1 x,1993, adapted Resolution I~o.11 ~ 1 declaring the Sample-E~Wing De4~elaptr~ent Area {"SERA"} to lie an area needing redevelopment within the meaning ofthe Act; and WHEREAS, Resolution No. l l ~ l and the San7ple~E~ring Development Area I~evela~p~ent Plan were canfir~ned by Resolution No. 1154 adapted on ll~ay 2,1,1993; and WHEREAS, Resolution No. l 151 created the Sample-E~ing Allocation Area South Bend Allocation Area No, 8} ~tl~e "SERA All~~catlol~ Area"} foi• the purpose of depositing into an allocation area fund the "SERA Allocation Fund"~ tax increment revenr~es allocated to the Commission and resulting solely from the increase in the assessed value of personal property and