HomeMy Public PortalAbout015-2013 -Expenditure of Funds - Intergovernmental ChargesRICHMOND REDEVELOPMENT COMMISSION
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A RESOLUTION AUTHORIZING THE EXPENDITURE OF FUNDS
( "INTERGOVERNMENTAL CHARGES AND PROFESSIONAL SERVICES ")
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 I.C. 36 -7 -14 -12.2 (14) & I.C. 36 -7 -14 -12.2 (15) the
commission may appoint an executive director, appraisers, real estate
experts, engineers, architects, surveyors, and attorneys clerics, guards,
laborers, and other employees the commission considers advisable; and
WHEREAS, the Executive Director of the Department of Metropolitan Development
serves as the executive director for the commission and employees of the
Department designate a portion of their time solely to activities related to
the administration of activities related to the Richmond Redevelopment
Commission; and
WHEREAS, due to the successful procurement of the Stellar Communities designation,
additional professional services will be required for successful
administration of the projects in the Stellar Communities application.
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 intergovernmental charges
related to the Department of Metropolitan Development Executive Director and for the
procurement of professional services to assist with the successful administration of the
Stellar Communities projects. Such funding shall be paid from excess TIF revenues
received during the calendar year 2014 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 $70,000 for intergovernmental charges and professional services for the
Department of Metropolitan Development, or the allowable excess amount following the
Resolution 15 -2013
retention of all necessary funds for the reserve regarding the payments for Bond principal
and interest payments.
THIS RESOLUTION IS ADOPTED this 30* day of , 2013
RICHMOND REDEVELOPMENT COMMISSION
By:
By:
By:
By:
By:
Resolution 15 -2013