HomeMy Public PortalAbout010-2022 - Expendture of Funds to the Whitewater Gorge RICHMOND REDEVELOPMENT COMMISSION
RESOLUTION NO. 10-2022
A RESOLUTION AUTHORIZING THE EXPENDITURE OF FUNDS
("THE WHITEWATER GORGE ")
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
Whitewater Gorge within the City of Richmond; and
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 improvements.
Such funding shall be paid from excess TIF revenues received during the year 2022 and placed into
the allocation fund, all of which is allowed pursuant to the TIF 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$500,000 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 ADOPTED this hp day of , 2022 .
RICHMOND REDEVELOPMENT COMMISSION
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Resolution 10-2022