HomeMy Public PortalAbout009-2013 - Expenditure of Funds - Local Match - Grant for Starr Gennett AreaRICHMOND REDEVELOPMENT COMMISSION
RESOLUTION NO. 9-20I3
A RESOLUTION AUTHORIZING THE EXPENDITURE OF FUNDS
( "LOCAL MATCH FOR PROFESSIONAL SERVICES FOR LINE ITEM
APPROPRIATION GRANT FOR STARR - GENNETT 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 -1439 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 Starr - Gennett Area; and
WHEREAS, the City of Richmond was awarded a line -item appropriation grant that
will be administered through the Indiana Department of Transportation;
and
WHEREAS, the line -item appropriation grant provides 80% of the project's funding
and the local match is 20% of the total project's costs; and
WHEREAS, prior to the expenditure of grant funds on improvements to Whitewater
Valley Gorge and Starr - Gennett Area. the City of Richmond is required to
commence with the design and professional services phase of the project;
and
WHEREAS, the City of Richmond wishes to continue with the design and professional
services phase of the project and is seeking additional local match for the
project as the result of a required archaeological dig being required by the
Indiana Department of Natural Resources, State Historic Preservation
Office.
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 for additional design and
professional services for improvements to be made in the Starr- Gennett Area of the
Whitewater Valley Gorge. Such funding shall be paid from excess TIF revenues received
during the year 2013 and placed into the allocation fund, all of which is allowed pursuant
Resolution 9 -2013
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 $9,100 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 , 2013
RICHMOND REDEVELOPMENT COMMISSION
By:
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Resolution 9 -2013