HomeMy WebLinkAbout2012-R-16 Resolution 2012-R-ip Resolution of the City of Jeffersonville Re evelopment Commission
2013 Budget Year Determination for TIF Revenues
WHEREAS, the City of Jeffersonville Redevelopment Commission (the "Commission "),
has previously established the Inter City Road /Gateway TIF Allocation Area ( "TIF Allocation
Area ") for purposes of capturing tax increment revenues pursuant to Indiana Code 36- 7 -14 -39
and Indiana Code 36 -7 -14 -39.3 (the "TIF Revenues ").
WHEREAS, pursuant to Indiana Code 36- 7 -14 -39 and 50 IAC 8 -2 -4, the Commission is
required to make a determination on TIF Revenues and notify overlapping taxing units.
WHEREAS, the Commission has determined that, for budget year 2011, the Commission
will need to capture all of the incremental assessed value from the TIF Allocation Area in order
to generate TIF Revenues sufficient to meet the Commission's outstanding debt service
obligations, to pay for projects that are located in or directly serve or benefit the TIF Allocation
Area, and to meet other purposes permitted by Indiana Code 36- 7- 14- 39(b)(2).
NOW, THEREFORE, BE IT RESOLVED by the City of Jeffersonville Redevelopment
Commission as follows: the Commission has determined that (a) there is no excess assessed
value from the TIF Allocation Area that may be allocated to the respective taxing units for
budget year 2013 pursuant to Indiana Code 36- 7- 14- 39(b)(3), and (b) all potential captured
assessment (as defined in 50 IAC 8 -1 -16) with respect to the TIF Allocation Area in 2013 shall
be captured assessment (as defined in 50 IAC 8- 1 -10), and (c) overlapping taxing units will be
notified by sending Exhibit A via Certified Mail Return Receipt Requested or Hand Delivery
with written confirmation of receipt.
ADOPTED and APPROVED at a meeting of the City of Jeffersonville Redevelopment
Commission held on the 27 day of June 2012.
CITY OF JEFFERSONVILLE REDEVELOPMENT COMMISSION
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EXHIBIT A
June 27, 2012
Re: Intercity Road /Gateway, Falls Harbor, Beth Nova, Keystone, Galvstar, and Vogt
Valve TIF Allocation Areas
Dear
In accordance with Indiana Code 36- 7- 14- 39(b)(3)(B) (the "Act "), the Jeffersonville
Redevelopment Commission (the "Commission ") is hereby notifying you of the following
determination that it has made concerning its Tax Allocation Area(s) for 2012 taxes
g (s ) payable
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2013. The Commission has determined that there is no "excess assessed value" that may be
allocated to the overlapping taxing units in the manner prescribed in subdivision (1) of the Act.
Sincerely,
„ ,
President
Jeffersonville Redevelopment Commission
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