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South Bend Redevelopment Commission <br />Regular Meeting –January 15, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />A. Public Hearings and Commission action on <br />appropriation resolutions. <br /> <br />(1) continued… <br /> <br />design and construction of a parking lot just <br />west of WNIT at $100,000. <br /> <br />In the West Washington-Chapin <br />Development Area the only project is Hansel <br />Center. <br /> <br />In the Central Medical Services District there <br />are public works projects surrounding <br />Memorial hospital. We are also considering <br />a brick façade on the Bartlett Street garage. <br /> <br />There is no change from last year to the <br />projects in the Northeast Development Area. <br />There will only be about $60,000 and that <br />will be used for plan implementation. He <br />noted that we expect the TIF in this area to <br />increase in upcoming years as the South <br />Bend Clinic tax abatement ages. <br /> <br />The significant project for the South Side <br />Development Area is the reconfiguration of <br />the retention ponds. <br /> <br />In the TIF area for Lowes/Walmart, all the <br />funds are reserved for debt service. We <br />originally had 20 and 25 year bonds. We <br />believe the TIF revenues now will allow us <br />to pay those off in five years. <br /> <br />In the TIF Area for Erskine Village, again, <br />the project has gone very well. The revenues <br />are much higher than we anticipated. We <br />have an outstanding bond that we believe we <br />can pay off in about five years and are <br /> 11 <br /> <br />