HomeMy Public PortalAbout002-2021 - Funds for Improvements to Roadways & Infrastructure RICHMOND REDEVELOPMENT COMMISSION
RESOLUTION NO. 2-2021
A RESOLUTION AUTHORIZING THE EXPENDITURE OF FUNDS
("IMPROVEMENTS TO ROADWAYS AND INFRASTRUCTURE WITHIN THE
REDEVELOPMENT AREA")
WHEREAS, the City of Richmond Redevelopment Commission (hereinafter"Commission") has.
previously adopted a Declaratory Resolution, which has been amended, thereby
establishing a Redevelopment Plan by which certain projects may be funded with
excess Tax Increment Financing.("i'it."):revenue; and
WHEREAS, pursuant to I.C. 36-7-14-39, such excess revenues may be used for the purposes
described therein;and
WHEREAS, it has become necessary to make certain roadway improvements in the TIP district as
referenced in Attachment A.
NOW, THEREFORE, BE IT RESOLVED by the Richmond Redevelopment Commission,.
that such Commission hereby approves and agrees to reimburse the City of Richmond and/or pay for
necessary expenditures incurred in performing certain roadway improvements at various locations
(Attachment A).
Such funding shall be paid from.excess TIF revenues received during the.year 2021 and placed into
the allocation fund, all of which is allowed pursuant to the TIT Redevelopment Plan of 1989, as
amended,previously adopted by the Commission.
BE.IT FURTHER RESOLVED that the above reimbursement and/or expenditures shall not exceed
the lesser of$190,000 or the allowable excess amount following the retention of all necessary funds
for the reserve regarding the 2021 payments for Bond principal and interest payments.
THIS RESOLUTION IS ADOPTED this ,)_._ day of 2
RICHMOND REDEVELOPMENT COMMISSION
By:
By:
By:
By:
Attachment A.
Resolution 2-2021
.i.
LL
H
L Lr) O O Lrl O p
N Ln O N O
LA03 Ln
N N Lrl N N
O
m N M lO
i/}i/l.'N' i/}i/} tn.
UNUIO
O ON O
co O LNr1 1 CD
N N 1n N N Lrl
co r-I m
r'`) r'n LLc co
O O O O O O
Lr) O O Lrl O O
(Ni UI p N co 0
(O ri O N M O N
E Ln et Ln o
oo •� r. � oiri
h rn N Cr)
w in ih i/}-VI in-
ai
Q
a)
c
>
m +-.
a)
Q °J
` L
F LL C
iM Q Lrl
= s ODD z
L N
a) Z m Q) LA
1 > 2
.= Q
coo LA Z m
to Z p O v
c
to O E
L U Q (C
N 4- 4-
O > E o y
0 Q O L a)
▪ c 4- L.
E (I)
c cu co w
• `° , Ln 2 Ln
E• t I--
• 0 0
ci N r r Lrl
N
O
N