HomeMy WebLinkAbout2025-R-6 Resolution Regarding Excess Assessed Valuation & Determining Need to Capture TIF Revenues RESOLUTION NO. 2025-R-6
BEFORE THE JEFFERSONVILLE REDEVELOPMENT COMMISSION
STATE OF INDIANA
A RESOLUTION REGARDING EXCESS ASSESSED VALUATION
AND DETERMINING THE NEED TO CAPTURE
TAX INCREMENT FINANCING REVENUES
WHEREAS,the City of Jeffersonville Redevelopment Commission(the"Commission"),
previously established the allocation areas set forth in Exhibit "A" attached hereto (collectively,
the "Allocation Areas") for purposes of capturing incremental taxes (the "TIF Revenues")
pursuant to I.C. 36-7-14-39 (as amended) and I.C. 36-7-14-39.3 (as amended); and
WHEREAS,pursuant to I.C. 36-7-14-39(b)(4) (as amended) the Commission is required
to make certain determinations relating to its need to capture TIF Revenues for the following
budget year; and
NOW, THEREFORE, BE IT RESOLVED by the City of Jeffersonville
Redevelopment Commission, as follows:
1. Pursuant to I.C. 36-7-14-39(b)(4) (as amended), the Commission hereby
determines that, for budget year 2026, all of the incremental assessed value of taxable property in
each of the Allocation Areas under its authority and/or control is need to produce TIF Revenues
necessary to make, when due, principal and interest payments on the bonds issued pursuant to
I.C. 36-7-14-39(b)(3) (as amended), plus the amount needed for other purposes and permitted
expenditures in I.C. 36-7-14-39(b)(3) (as amended).
2. The Commission therefore determines that there is no excess assessed value in
any of the Allocation Areas under its authority and/or control that may be released to the
respective taxing unites in the manner prescribed in I.C. 36-7-14-39(b)(1) (as amended).
3. Any officer of the Commission is hereby authorized to provide the written notice
of the determinations made herein to the Clark County Auditor, Clark County Council,
Jeffersonville Common Council, and each taxing unit that is wholly or partly located within in
the Allocation Areas, in the manner set forth in I.C. 36-7-14-39(b)(4)(B).
4. This Resolution shall take effect immediately upon adoption.
ADOPTED by the City of Jeffersonville Redevelopment Commission on this 28th day of
May, 2025.
JEFFERSONVILLE REDEVELOPMENT
COMMISSION
President
ATTEST:
NOE'60/ /44"-
Secretary
EXHIBIT "A"
ALLOCATION AREAS
1. Inner City Road/Gateway
2. Falls Landing
3. Beth Nova
4. Keystone
1
5. Vogt Valve
6. Galvstar
7. Jeff Boat
8. Riverview
9. Eastlawn