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U b <br /> \P�E1ACEa <br /> X x <br /> OFFICE OF THE CITY CLERK <br /> KAREEMAH FOWLER, CITY CLERK <br /> COMMUNITY INVESTMENT MAY 29, 2018 4:36 P.M. <br /> Committee Members Present: Gavin Ferlic, Regina Williams-Preston <br /> Committee Members Absent: Oliver Davis, Sharon L. McBride <br /> Other Council Present: Tim Scott, Jo M. Broden, John Voorde, Karen White <br /> Other Council Absent: None <br /> Others Present: Kareemah Fowler, Bianca Tirado, Graham Sparks, Bob <br /> Palmer, Casey Colvin <br /> Presenters: James Mueller <br /> Agenda: Update-Potential TIF Area Adjustments- James Mueller, <br /> Community Investment <br /> Committee Chair Gavin Ferlic called to order the Community Investment Committee meeting at <br /> 4:36 p.m. He introduced members of the Committee and announced the lack of a quorum, <br /> rendering the Committee incapable of taking official action on legislation. He then gave the floor <br /> to the presenters. <br /> Update- Potential TIF Area Adjustments-James Mueller, Community Investment <br /> James Mueller, Executive Director of Community Investment with offices on the 14th floor of the <br /> County-City Building,stated,Here(referencing a presentation available in the City Clerk's Office) <br /> is the overview of the presentation. We have a bunch of policy goals.The Tax Increment Financing <br /> is a major tool. We have Tax Abatement, Tax Increment Financing (TIF), we have an Industrial <br /> Revolving Fund but, as you know, TIF is a major part of implementing our neighborhood plans <br /> and a lot of other economic development activities we do. We set up a designated area for the <br /> increment. An increment of taxation of property tax is generated and that goes back into the Fund <br /> that the Redevelopment Commission is then able to allocate to different economic development <br /> projects. As we've looked at before, the key to remember is even if the TIF area is expanded, you <br /> are still only collecting the increment that is created. So we aren't taking away taxes from <br /> somebody, we are only capturing things that are generated. <br /> Mr. Mueller continued, We have a few focus areas we are looking at particularly. The first (Is� <br /> one (1) is looking at Mishawaka Avenue and Potawatomi Zoo. We are also looking at annexing <br /> the Chocolate Factory Expansion site. There is also the central part of the River West TIF and <br /> fourth(4th) is the South East and South sides of the City. So the proposals that are being looked at <br /> so far includes adding the right of way for Eddy Street,Potawatomi Park and Zoo,the Mishawaka <br /> INTEGRITY1 SERVICES ACCESSIBILITY <br /> JENNIFER M.COFFMAN BiANCA L.T m4Do JOSEPH R MOLNAR <br /> CHIEF DEPUTY1DIILECFOR OF OPERATIONS DEPCTIY/DntECFOR OF POLICY ORDINANCE VIOLATION CLERK <br /> EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT <br /> 455 County-City Building 1 227 W.Jefferson Blvd.I South Bend,Indiana 466011 p 574.235.92211 f 574.235.9173 1 www.southbendin.gov <br />