HomeMy Public PortalAbout005-2013 - Expenditure of Funds - Improvements - Former Gas site - Veteran's Park EntranceRICHMOND REDEVELOPMENT COMIVIISSION
RESOLUTION NO. 5 -2013
A RESOLUTION AUTHOR UNG'THE EITENDITURE OF FUNDS
("VAPROVEMENTS TO FORMER GAS
BUILDING SITEIVETERAN'S PARK ENTRANCE ")
WIMREAS, the . City of Richmond Redevelopment Commission (hereinafter
".Com isslon7) has previously adopted a Declaratory Resolution, which
has :been .amended, thereby establishing a Redevelopment Plan by which
certain projects rMy. be funded with excess Tax Increment Financing
("TIF") revenue; and
WHEREAS,- pursuant to I.C. 367 -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 Whitewater Valley Gorge and Start- Gennett Area; and
WHEREAS; . the City of Richmond was awarded a grants'totaling $615,000 to remediate
soil, contamination at the former gas building site located at 16. East Main
Street; and
WHEREAS, . the:.City of Richmond has been awarded $826,125 to "cap" and remediate
groundwater at the former gas building site; and
RTIffiREAS., - , the site will be used as ..a -new entrance to Veteran's Park 'when
environmental remediation activities conclude; and
WHEREAS,. the entrance to Veteran's Park will include a new driveway that can be .
used as part of the environmental "capping project; and
WHEREAS, the grant. funds cannot be used to construct the driveway but it will save
time - and money long -term if the driveway can be incorporated into the
overall project at this time.
NOW, THEREFORE, BE rF 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 for the creation of a driveway
for Veteran's Park at the "Gas Building Site" located at 16 Fast Main Street that will
Resolution 5 -2013
serve as part of the environmental remediation "capping" project. Such funding shall be
paid from- excess TIF revenues received. during the year 2,013 and placed into the
allocation fund, all of which is allowed pursuant to the TIF Redevelopment Plan of 1959,
as amended, previously adopted by the Commission.
BE. IT FURTHER. RESOLVED that the above reimbursement and/or
expenditures shall not exceed 3125100O.--or the allowable excess amount following the
.retention. of all necessary funds for the reserve regarding the 2013 payments for Bond
principal and interest payments.
THIS _RESOLUTION IS ADOPTED this day of V X013
RICIHMOND REDEVELOPMENT CONMUSSION
B.
Y
By:
By:
By:
Resolution 5 --2413