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HomeMy WebLinkAbout1985-R-22RESOLUTION NO. RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF JEFFERSONVILLE, INDIANA, ADOPTING A RECAPTURE PLAN FOR FUNDS GENERATED BY THE SALE AND/OR LEASE OF PROPERTY UNDER THE SMALL CITIES COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM - COMMUNITY IMPROVEMENT PROGRAM (CIP) PROJECT NO. C-84-013 AS ADMINISTERED BY THE STATE OF INDIANA, DEPARTMENT OF COMMERCE WHEREAS, the State of Indiana, Department of Commerce requires the adoption of an official plan for the use of recaptured funds generated by a Community Development Block Grant Project; and WHEREAS, the City of Jeffersonville anticipates receiving program income from Community Development Block Grant, Community Improvement Pro- gram No. C-84-013; and WHEREAS, this Resolution shall serve as the City of Jeffersonville's official plan for the use of recaptured funds generated by said C-84-013 Project. NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL FOR THE CITY OF JEFFERSONVILLE, INDIANA: 1. That the City of Jeffersonville hereby recognizes that recapture funds will materialize from the sale and/or lease of acquired property under the City's FY 1984 CDBG (C-84-013) Project. 2. That the City will use these funds only within the project area for eligible CIP, CDBG activities that are needed to implement the overall development plan for the project area. 3. That if all activities needed in the project area are completed and a balance remains in the recapture funds account, said funds will only be used for economic development or other community development activities that are eligible under Title I of the Housing and Community Development Act of 1974, as amended. 4. Any recaptured funds generated by Project No. C-84-013 shall be maintained in an account separate from other city or project accounts. IT FURTHER RESOLVED that the Clerk-Treasurer of said City of Jeffer- Indiana, is hereby ordered and directed to give notice as provided BE sonville, by law. Adopted by the Common Council of the City of Jeffersonville, Indiana, this day of S~i§nature Pa~e,: Presented by me as Clerk-Treasure~ sonville, this~ J day of ~ to the Mayor of the City of Jeffer- , 1985. Approved and signed by me this ~ , day of ~_~,f~7~ .., 1985.