HomeMy Public PortalAbout014-2013 - Expenditure of Funds - Former Gas site - Veteran's Park EntranceRICHMOND REDEVELOPMENT COMMISSION
RESOLUTION NO. 14 -2013
A RESOLUTION AUTHORIZING THE EXPENDITURE OF FUNDS
("IMPROVEMENTS TO FORMER GAS
BUILDING SITENETERAN'S PARK ENTRANCE ")
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 Whitewater Valley Gorge and Starr- 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
WHEREAS, 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; and
WHEREAS, Resolution 5 -2013 provided funding for the construction of the roadway
for the entrance to Veteran's Park off of East Main Street; and
Resolution 14 -2013
WHEREAS, during construction of the roadway several unexpected items including,
building foundations, building footers, debris, a cistern and additional
contamination (containing "coal tar ") was discovered in the area where the
roadway is to be built.
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 the removal of building
foundations, building footers, debris, a cistern, contamination (containing "coal tar ") and
professional services required for the completion of a driveway for Veteran's Park at the
"Gas Building Site" located at 16 East Main Street that will serve as part of the
environmental remediation "capping" project. 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 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 $125,000 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 �41 , 2013
RICHMOND REDEVELOPMENT COMMISSION
to
M.
Resolution 14 -2013