The following documents are resolutions concerning Harrison Square that will be presented to the Fort Wayne Common Council on April 10, 2007
Note: Harrison Square will only be INTRODUCED at the April 10th meeting.
BILL NO. R-07-04-09 (PDF)
"A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF FORT
WAYNE, INDIANA, PLEDGING CERTAIN CUMULATIVE CAPITAL
IMPROVEMENTS FUND PROCEEDS AND CERTAIN COUNTY
ECONOMIC DEVELOPMENT INCOME TAX PROCEEDS AVAILABLE TO
THE CITY OF FORT WAYNE, INDIANA, TO THE FORT WAYNE
REDEVELOPMENT COMMISSION AS A SOURCE OF REVENUE FOR
FINANCING THE DEVELOPMENT OF HARRISON SQUARE"
BILL NO. R-07-04-10 (PDF)
"A RESOLUTION CONFIRMING AN APPROVING ORDER OF THE FORT
WAYNE CITY PLAN COMMISSION AND CONFIRMING DECLARATORY
RESOLUTION #2007-13 OF THE FORT WAYNE REDEVELOPMENT
COMMISSION CONCERNING AMENDMENT II, JEFFERSON ILLINOIS
ROAD ECONOMIC DEVELOPMENT AREA."
RESOLUTION 2007-13 (PDF)
"DECLARATORY RESOLUTION
AMENDMENT II, JEFFERSON ILLINOIS ROAD ECONOMIC DEVELOPMENT AREA"
Monday, April 9, 2007
Council Update
Posted by scott spaulding at 4/09/2007 02:00:00 PM
Labels: CEDIT, City Council, Harrison Square, TIF
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3 comments:
Scott - Can you post the Exhibits "A' & "B" mentioned in this resolution so we all can understand what is being resolved with passage of this?? John K.
John,
Your request has been granted. Thanks for pointing it out.
Just as I pointed out last week, note in the Resolution 2007-13 that Scott just added to this post - under the 4th "BE IT FURTHER RESOLVED", b.3 (on last page):
When the fund (TIF Property Tax Income) is sufficent to pay off the principal and interest on the bonds, then the balance in the fund shall be paid to the respective taxing units in the manner provided in subsection (1) of this section. In other words, excess will revert to the general property tax units.
This is what I suggested that I read in the Indiana Code when someone suggested that this excess be used to re-fund our Police & Fire pension funds instead of spending it on a boondoggle like an unnecessary new baseball stadium. Note that I stated that some attorney could have verified this in my comment - but I guess the only attornies that read this are Sam & Tim and they wouldn't want to provide any truth to the opposing side. John K.
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