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South Bend Redevelopment Commission <br />Regular Meeting –March 5, 2010 <br /> <br />correct. <br /> <br />Mr. Varner noted that once funds are <br />available, there will be additional requests for <br />that money. The reality is that there was a <br />buildup of TIF funds from the overlap area <br />over several years. Once those are spent, the <br />amount available each year will be only <br />about $170,000. Mr. Varner said he was very <br />impressed with the work both Project Impact <br />and YouthBuild are doing. However <br />valuable these projects are, the reality is that <br />Project Impact will have to get to the point <br />where they can sustain themselves. Unless <br />something changes legislatively, the money <br />isn’t going to be there. <br /> <br />CRN.2651 <br />Upon a motion by Ms. King, seconded by <br />OMMISSION APPROVED ESOLUTION O <br />APPROPRIATING TAX INCREMENT FINANCING <br />Mr. Varner and unanimously carried, the <br />AE <br />REVENUES FROM THE IRPORT CONOMIC <br />Commission approved Resolution No. 2651 <br />D/UEZ <br />EVELOPMENTRBAN NTERPRISE ONE <br />appropriating tax increment financing <br />SZF <br />PECIAL ONE UND FOR THE PAYMENT OF <br />revenues from the Airport Economic <br />CERTAIN OBLIGATIONS AND EXPENSES RELATED <br />AED <br />Development/Urban Enterprise Zone Special <br />TO THE IRPORT CONOMIC EVELOPMENT <br />AUEZ <br />REA AND THE RBAN NTERPRISE ONE <br />Zone Fund for the payment of certain <br />obligations and expenses related to the <br />Airport Economic Development Area and the <br />Urban Enterprise Zone. <br /> <br /> <br />B. Tax Abatements <br /> <br /> <br />(1) Resolution No. 2660 approving an <br />application for real property tax deduction <br />for property located at lots 14 & 15 on <br />Vorden Parkway adjacent to 3751 Olive <br />Rd. (Olive Cleveland Partners) <br /> <br />Mr. Mathia gave the staff report on the <br />project. Olive Cleveland Partners is in the <br />process of purchasing vacant Lots No. 14 and <br />15 from the Blackthorn West Business Park, <br />LLC. Olive Cleveland intends to construct a <br />warehouse/distribution facility to <br /> 19 <br /> <br />