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�4 SpUTH g��d <br /> U d <br /> W PEACE <br /> X X <br /> 1865 <br /> CITY OF SOUTH BEND <br /> COMMUNITY INVESTMENT <br /> June 9, 2017 <br /> Filed in Clerk's Office <br /> Mr.Tim Scott, President <br /> South Bend Common Council JUN 09 2017 <br /> Fourth Floor County-City Building <br /> 227 W.Jefferson KAREEMAH FOWLER <br /> South Bend, IN 46601 CITY CLERK,SOUTH BEND,IN <br /> Re: Releasing Assessed Value from Douglas Road TIF Area for 2017pay2018 <br /> Dear Council President Scott: <br /> At a public meeting held May 25, 2017, the South Bend Redevelopment Commission made the <br /> necessary findings under Ind. Code 36-7-14 determining that all the assessed value in Allocation <br /> Area No. 1 of the Douglas Road Economic Development Area may be allocated to the respective <br /> taxing units. Notice of the Commission's action was sent to South Bend Common Council <br /> members that date. <br /> Attached is a resolution formally approving release of the TIF increment to be collected from the <br /> Douglas Road TIF Area for tax pay year 2018.This TIF is close to paying off its remaining debt <br /> and should not need the funding for 2018. If all collections come in as we expect in 2017, we <br /> will pay off the debt and close this TIF area within the next year. <br /> I will present this resolution at your June 26 Council meeting. Please let me know if you have <br /> any questions. Thank you. <br /> Sincerely, <br /> izab Leonard Inks <br /> Director,Administration & Finance <br /> EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br /> 1400S County-City Building',227W.Jefferson Bvld. South Bend,Indiana 46601 p574.235.9371 www.southbendin.gov <br />