HomeMy WebLinkAboutD-2527-20_Economic_Development_Fund (#903)_TIF StudySPONSOR: Councilor Finkam
This Ordinance was prepared by Jon A. Oberlander, Assistant Corporation Counsel, on 5/20/2020 at 12:04 p.m. No subsequent revision
to this Ordinance has been reviewed by Mr. Oberlander for legal sufficiency or otherwise.
ORDINANCE NO. D-2527-20
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA,
AUTHORIZING AND APPROVING AN ADDITIONAL APPROPRIATION OF FUNDS
FROM THE OPERATING BALANCE OF THE ECONOMIC DEVELOPMENT FUND (#903)
Synopsis: This ordinance appropriates funds currently in the operating balance of the Economic
Development Fund (#903) so that they can be used to conduct a TIF study.
WHEREAS, it is in the best interest of the citizens of City of Carmel to conduct a rigorous
study to quantify the City’s return on investment for TIF projects; and
WHEREAS, the Economic Development Fund (#903) (the “Fund”) currently has Seventy Five
Thousand Dollars ($75,000.00) within its operating balance; and
WHEREAS, in order to use these funds to conduct a TIF study, the Carmel Common Council
must appropriate the money currently within the Fund;
WHEREAS, the operating balance of the Economic Development Fund (#903) currently has
excess funds in the amount of Seventy Five Thousand ($75,000.00).
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of Carmel, Indiana,
that the following additional sum of money is hereby appropriated out of the Economic Development
Fund (#903) Operating Balance and for the purposes specified, subject to applicable laws, as follows:
$75,000.00 from the ECONOMIC DEVELOPMENT FUND OPERATING Balances
To
Economic Development Fund: Line item 43-419.99 – Other Professional Fees $75,000.00
This Ordinance shall be in full force and effect from and after the date of its passage, execution
by the Mayor.
Ordinance D-2527-20
Page One of Two
PASSED by the Common Council of the City of Carmel, Indiana, this ____ day of ________,
2020, by a vote of _____ ayes and _____ nays.
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SPONSOR: Councilor Finkam
This Ordinance was prepared by Jon A. Oberlander, Assistant Corporation Counsel, on 5/20/2020 at 12:04 p.m. No subsequent revision
to this Ordinance has been reviewed by Mr. Oberlander for legal sufficiency or otherwise.
COMMON COUNCIL FOR THE CITY OF CARMEL
___________________________________
Laura D. Campbell, President Sue Finkam, Vice-President
___________________________________ ____________________________________
H. Bruce Kimball Kevin D. Rider
___________________________________ ____________________________________
Anthony Green Jeff Worrell
___________________________________ ___________________________________
Tim Hannon Miles Nelson
___________________________________
Adam Aasen
ATTEST:
__________________________________
Sue Wolfgang, Clerk
Presented by me to the Mayor of the City of Carmel, Indiana this ____ day of
_________________________ 2020, at _______ __.M.
____________________________________
Sue Wolfgang, Clerk
Approved by me, Mayor of the City of Carmel, Indiana, this _____ day of
________________________ 2020, at _______ __.M.
____________________________________
James Brainard, Mayor
ATTEST:
___________________________________
Sue Wolfgang, Clerk
Ordinance D-2527-20
Page Two of Two Pages
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