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South Bend Redevelopment Commission <br />Regular Meeting –June 18, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />G. Downtown Medical Services District <br /> <br />(1) continued… <br /> <br />that includes curbs sidewalks, tree plantings, <br />a number of improvements throughout the <br />Medical District. A parking lot will be <br />constructed as well. The total cost is $5,175, <br />482. Mr. Inks noted that the individual line <br />items are only estimates of cost, so staff is <br />requesting only that the total allocation be <br />approved, not the individual line items. We <br />have cash on hand of almost $4,300,000. We <br />are expecting a July TIF distribution of close <br />to $900,000. <br /> <br />Mr. Varner suggested that, rather than <br />spending $800,000 on applying brick to an <br />already completed garage, he would like to <br />see a renovation of the old Leeper Park <br />Botanical Gardens. He thinks that would be <br />every bit as attractive as a brick façade to the <br />garage. Mr. Inks responded that the <br />Commission previously approved the funds <br />to do the design work for the garage façade. <br />Also, the Medical TIF District is set to expire <br />in 2015, so there are five additional tax years <br />for collection at approximately $1.8M per <br />year. There should be sufficient resources <br />before the expiration date to make <br />improvements to the Botanical Gardens. <br /> <br />Ms. Jones asked that the Commission go on <br />record as wanting to use funds to improve the <br />Botanical Gardens before the TIF district <br />expires. <br /> <br />Ms. King asked if these improvements are <br />the last ones Memorial wants made from the <br />TIF district. Mr. Relos said that is all they <br /> 23 <br /> <br />