HomeMy Public PortalAbout002-2023 - Funds For Improvements to Roadways and Infrastructure Within the Redevopment Areal RICHMOND REDEVELOPMENT COMMISSION
RESOLUTION NO. 2-2023
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 ("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, it has become necessary to make certain sidewalk replacement Phase 2
improvements in the TIF 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 TIE revenues received during the year 2023 and placed into
the JM 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
the lesser of$225,000 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 / day of4j223
RICIIMOND REDEVELOP ENT COMMISSION
By: 7
- 9
By: "
By;
By:
Resolution 2-2023
SIDEWALK REPLACEMENT PROJECT
PHASE 2
COST ESTIMATE
Greg Stiens
11-17-2022
STREET LISTING
From To
1. Richmond Avenue NW 5th St. NW 9th St $97,680.00
2. Sedgwick St. Peacock Rd. Richmond Ave. $25,500.00
3. NW 7th St. Peacock Rd. Richmond Ave. $32,500.00
4. NW 8th St. Peacock Rd. Richmond Ave. $55,625.00
FUNDS REQUEST FROM REDEVELOPMENT COMMISSION......S225,000.00
:R:rj
--, d �� » irk
0. r
, 121 w t IF i g 1,.-
NMIAAPt K [S 4 7 1., . �. f ter;
MN INDIANA A x 4 Rhiiii.,,,. I' k
IINV p " n� � ..l
1r3 r l';',°1'
UR sow „tea N. . S1� � j,ar a r iMOND r riffir�
1111t13 R1Nfl :�i.
, ,.ii Km;Mitt - , .4.krilief '''' All'A'"m tin
Y II Ids C ,,�..A ?e 0 W. W� ry a aR
i * - 11.2 10,t ps,111111111111 -
A.4.4 / AI AV 14,
NA N IA sr: bps`, N. A I) 2 2
A
*, b x fir"`' . Al VI h . ?AN
' '" z'ST ,,yi. MAW !IL
w_ w Amon ww, i I g ,:.:-.,:;. 111
,, w w4.11 15—, 7 * SA: A : : ; : ". lir 11 nini
, Ists, t i rats
z ,4,1, igo vat ,
! 4 O' ''' ,iti -
7
AmaRALste. ''" G' :11111'711't '1/4P) ,,- 1 7 4! ' I 4. Iti ON •
i OWDS D.
MAW IA t A, r up s,.
. 1 1111/
M S.W F 44
d ( o ST t SA li sr « fix.
1 p t rot �y Elk,.
!by i
:XIb`
9
aSoaft, 1 ST ittrivitz44111111: : 14/11111:1
I 80
� «Auer {
to
IP
m. IMIrilkikSAY ; 4IV 199,1 .,
S. N Sr,
.p, '/ i , 00 i
i3TRO
... e1� ui
1 IV r sr
mom
ammo
1Yfr217 21 22
rseameir
tar
81 MC
EIS
235 236 237 .4,0, 23.150 ,