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O�$0U T <br /> F <br /> U d <br /> W PEACE <br /> �•l �,-�. ^,�.ate <br /> 1865 <br /> OFFICE OF THE CITY CLERK <br /> KAREEMAH FOWLER,CITY CLERK <br /> COMMUNITY INVESTMENT JUNE 26, 2017 4:33 P.M. <br /> Committee Members Present: Regina Williams-Preston, Oliver Davis, Paul Tipps (citizen <br /> member), Will Smith(citizen member) <br /> Committee Members Absent: Gavin Ferlic, Randy Kelly <br /> Other Council Present: Tim Scott,Jo M. Broden, John Voorde, Karen White <br /> Other Council Absent: Dr. David Varner <br /> Others Present: Kareemah Fowler, Graham Sparks, Bob Palmer, Aladean <br /> DeRose <br /> Presenters: Beth Leonard Inks <br /> Agenda: Bill No. 17-34-Douglas TIF Release <br /> Committee Vice Chair Regina Williams-Preston called to order the Community Investment <br /> Committee meeting at 4:33 p.m. She introduced members of the committee and proceeded to <br /> give the floor to the presenters. <br /> Bill No. 17-34-Douglas TIF Release <br /> Beth Leonard Inks, Community Investment with offices on the 140' floor of the County-City <br /> Building, stated, This resolution verifies the Council's awareness of the release of the Douglas <br /> Road TIF. We expect to receive approximately $345,000 this year. We have $180,000 in debt <br /> left and then we will be able to close that particular TIF. We aren't ready to close it yet until we <br /> get the debt paid off. We don't see a reason to need it for next year, but of course it is not ready <br /> to close. We hope to by next year, close the TIF and have the debt be gone. We only have $7,000 <br /> in the account right now. We expect the tax distribution to be deposited any day. We don't know <br /> what that is going to be. Last year it was $200,000 but until we get it, we are not sure. Any <br /> excess funds will be deliberated with. That has not yet ever happened. <br /> Committee Vice Chair Williams-Preston opened the floor to questions or comments from the <br /> Committee or Council. There were none. She then opened the floor to members of the public <br /> wishing to speak in favor of or in opposition to this legislation. <br /> 455 County-City Building-227 W.Jefferson Boulevard•South Bend,Indiana 46601 <br /> Phone 574-235-9221 •Fax 574-235-9173•TDD 574-235-5567•www.SouthBendIN.gov <br /> JENNIFER M.COFFMAN ALKEYNA M.ALDRIDGE JOSEPH MOLNAR <br /> CHIEF DEPUTY/DIRECTOR OF DEPUTY/DIRECTOR OF POLICY ORDINANCE VIOLATION CLERK <br /> OPERATIONS <br /> I <br />