HomeMy Public PortalAbout002-2022 - Snow Removal Equipment & Maintenance of Infrastructure at Airport RICHMOND REDEVELOPMENT COMMISSION
RESOLUTION NO. 2-2022
A RESOLUTION AUTHORIZING THE EXPENDITURE OF FUNDS
(" SNOW REMOVAL EQUIPMENT &MAINTENANCE OF
INFRASTRUCTURE AT THE RICHMOND MUNICIPAL AIRPORT")
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("TIF")revenue; and
WHEREAS, pursuant to I.C. 36-7-14-39 such excess revenues may be used for the purposes
described therein; and
WHEREAS, pursuant to the above actions, the amended project list includes improvements to
the Public Infrastructure; and
WHEREAS, it has become necessary to purchase snow removal equipment and maintenance
of Infrastructure at the Richmond Municipal Airport to support the needs of its
patrons per 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 at the Richmond Municipal Airport.
Such funding shall be paid from excess TIT revenues received during the year 2022 and placed
into the allocation fund, all of which is allowed pursuant to the I'lk 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 $210,288 or the allowable excess amount following the retention of all necessary
funds for the reserve regarding the 2022 payments for Bond principal and interest payments.
THIS RESOLUTION IS ADOP I'ED th•
is I O4'day of 114 Ay ,2022
RICHMOND RE VELOPMENT COMMISSION
By: ee;teik
By:
By:
Resolution 2-2022