HomeMy Public PortalAbout001-2023 - For Funds For The Purchase of Asphalt for Infrastructure at the Airport RICHMOND REDEVELOPMENT COMMISSION
RESOLUTION NO. 1-2023
A RESOLUTION AUTHORIZING THE EXPENDITURE OF FUNDS
("PURCHASE ASPHALT FOR 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 ("TIP') 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 asphalt for 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 TlF revenues received during the year 2023 and placed
into the allocation fund, all of which is allowed pursuant to the TIE 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 $92,000 or the allowable excess amount following the retention of all necessary funds
for the reserve regarding the 2023 payments for Bond principal and interest payments.
THIS RESOLUTION IS ADOPTED this /Z-714day of , 2023
RICHMOND REDEVELOPMENT COMMISSION
By:
By: _
By:
By„
VNA.-
By
Resolution 1-2023
RICHMOND MUNICIPAL AIRPORT
PROJECT LIST AND ESTIMATE
FOR
2023
By
Gre@5t|ens
Z'08-ZOZ]
1. Mill and Pave 1'I/2'' of asphalt in hangar area.................................. -$47,945,OO
2^ Install new heater in corporate hangar......~............................................$3,5OO.00
3. Additional funding for Snow Removal Equipment—..,- .......................$33.OQ4.25
TOTAL ESTIMATED COST.................. .................................................._.$83,529.25
ADD 1O96 [ONTENGENCY............................ ................................................ $8,3S2.9]
TOTAL~.......................,........................ ....... ..................~......................$91,882.18
TOTAL FUNDS REQUESTED_____.~__~-~~~~~...~~_,~— 00