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South Bend Redevelopment Commission <br />Regular Meeting –December 3, 2010 <br /> <br />three options: (1) The TIF district could <br />remain in place. When the Southside <br />Development Area was created, the whole <br />area was created as TIF Area No. 1. Later, <br />the individual nodes at Erskine Commons <br />and Erskine Village were declared separate <br />TIF areas. They overlap the underlying TIF <br />Area No. 1. If the Erskine Commons TIF <br />Area would be dissolved, that TIF would <br />automatically revert to the underlying TIF <br />Area No. 1. (2) Since there is no debt <br />related to the TIF Area No. 1, that area could <br />be dissolved, releasing all the South Side <br />Development Area TIF. (3) The South Side <br />Development Area No. 1 could remain, but <br />each year it could be determined whether that <br />TIF was needed to support the activities of <br />the TIF Area, or not needed and be released <br />to the other jurisdictions. <br /> <br />Mr. Downes asked who would decide <br />between those options. Mr. Inks responded <br />that the Redevelopment Commission has <br />authority over those decisions. Staff is in the <br />process of putting together a list of projects <br />that would complete the South Side <br />Development Area Development Plan and <br />make a recommendation to the Commission <br />regarding the continuance of the TIF area. <br /> <br />CRN.2813 <br />Upon a motion by Ms. King, seconded by <br />OMMISSION APPROVED ESOLUTION O <br />DETERMINING TO PROCEED WITH THE <br />Mr. Downes and unanimously carried, the <br />REDEMPTION OF THE PRESENTLY OUTSTANDING <br />Commission approved Resolution No. 2813 <br />EDR <br />TAXABLE CONOMIC EVELOPMENT EVENUE <br />determining to proceed with the redemption <br />B,S2005(EC <br />ONDS ERIES RSKINE OMMONS <br />of the presently outstanding taxable <br />P) <br />ROJECT <br />Economic Development Revenue Bonds, <br />Series 2005 (Erskine Commons Project). <br /> <br /> <br /> G. Northeast Neighborhood Development Area <br /> <br /> <br /> <br />There was no business in the Northeast <br />Neighborhood Development Area. <br /> 25 <br /> <br />