HomeMy Public PortalAbout004-2014 - Authorizing the Expenditure of Funds - Wayne County Historical MuseumI
RICHMOND REDEVELOPMENT COMMISSION
AMENDED RESOLUTION NO 4 -2014
A RESOLUTION AUTHORIZING THE EXPENDITURE OF FUNDS
( "WAYNE COUNTY HISTORIC MUSEUM" REDEVELOPMENT)
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 �vitll 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 Vacant
District Structures which may need financial assistance to upgrade to a
marketable status in the Redevelopment Allocation Area: and
WHEREAS, the Wayne County Historic Museum has acquired property that is vacant
and is in need of financial assistance to enable redevelopment, reuse and
marketability; and
WHEREAS, the Wayne County Historical Museum. is a local nonprofit organization
that has plans to redevelop the site, and
WHEREAS, pursuant to I.C. 36 -7 -14 -12.2 (a) (24), financial assistance, including
grants, may be paid to neighborhood development corporations, and the
Wayne County Historic Museum qualifies as such an entity.
WHEREAS, the Wayne County Historic MUSeulll has invested in a new building on the
North side of its property and additional parking is needed for this building
as well as parking for the general operations of the museum: and
NOW, THEREFORE, BE IT RESOLVf:D hN the Richmond Redevelopment
Commission, that such Commission hereby approves and agrees to pay for actual costs
associated with the creation of a parking lot and related infrastructure on the SW corner
of the museum property bound by N 1 It" and N B Street. Such funding steal I be paid from
excess TIF revenues received during the year 2014 and placed into the allocation field, all
of which is allowed pursuant to the TIF Redevelopment Plan of 1989, as amended,
previously adopted by the Commission.
Resolution 4 -2014
BE IT FURTHER RESOLVED that the above grant and /or expenditures shall not
exceed $115,000 or the allowable excess amount following the retention of all necessary
funds for the reserve regarding the 2014 payments for Bond principal and interest
payments.
THIS RESOLUTION IS ADOPTED this _,�5 dm of 2014
RICHMOND REDEVELOPMENT COMMISSION
By
By
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By:
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Resolution 4 -2014