Laserfiche WebLink
Area, the assessed value of the taxable property in the Allocation Area for the most recent <br />assessment date minus the base assessed value, when multiplied by the estimated tax rate of the <br />Allocation Area, will not exceed the amount of assessed value needed to produce the property <br />taxes necessary to make, when due, principal and interest payments on bonds payable from the <br />Allocation Fund of the Allocation Area, plus the amount necessary for other purposes described <br />in Section 39 of the Act. Accordingly, for tax year payable 2027, the Commission determines that <br />no amount of assessed value of the Allocation Areas will be allocated to the respective taxing <br />units in the manner prescribed in Section 39 of the Act. In making this determination, the <br />Commission has considered the effect that such determination will have on the property tax rate <br />in the Redevelopment District. <br />2.This determination for 2027 shall not be construed to affect any future <br />determination of the Commission with respect to the capture of assessed value of the taxable <br />property in the Allocation Areas in the years following 2027. <br />3.The President or Vice President of the Commission is hereby authorized and <br />directed to immediately notify or cause to be notified the St. Joseph County Auditor (who is <br />required to forward the notice to the Department of Local Government Finance), the South Bend <br />Common Council, and the officers who are authorized to fix budgets, tax rates, and tax levies <br />under Indiana Code 6-1.1-17-5 for each of the other taxing units wholly or partly located within <br />the Allocation Areas of the determinations made herein by the Commission, by way of a letter in <br />substantially the form attached hereto as Exhibit B, which notice is intended to satisfy the <br />requirements of Section 39 of the Act. <br />ADOPTED AND APPROVED at a meeting of the South Bend Redevelopment <br />Commission held in person and virtually on the 28th day of May 2026. <br />CITY OF SOUTH BEND <br />DEPARTMENT OF REDEVELOPMENT <br />__________________________________ <br />President <br />ATTEST: <br />__________________________________ <br />Secretary