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South Bend Redevelopment Commission <br /> Regular Meeting—February 8, 2011 <br /> Mr. Inks noted that this public hearing is for <br /> all of the TIF funds, including the Airport <br /> Economic Development Area, the South <br /> Bend Central Development Area, the West <br /> Washington-Chapin Development Area, the <br /> Downtown Medical Area, the Northeast <br /> Neighborhood Development Area, and the <br /> South Side Development Area No. 1, South <br /> Side Development Area No. 2 (Erskine <br /> Commons), South Side Development Area <br /> No. 3 (Erskine Village), Douglas Road <br /> Economic Development Area, and the <br /> Northeast Neighborhood Residential Area. <br /> Mr. Inks noted that historically we have <br /> optimistically allocated all of the funds <br /> expected to be received in an allocation area <br /> in a given year. Then, unable to manage all <br /> of the projects we thought we could, we have <br /> had funds left over at the end of the year. <br /> The City Controller has asked that we <br /> appropriate a realistic amount. So, of the <br /> $72M in TIF available from all TIF Areas, <br /> we are only appropriating about $35M. If the <br /> work progresses well and we feel we can <br /> complete additional work, we may <br /> appropriate additional funds later in the year. <br /> But we feel that with existing staff, the $35M <br /> is a realistic amount to expect to spend. <br /> Ms. Leonard noted that the Commissioners <br /> received this morning a revised Resolution <br /> No. 2825, increasing the appropriation by <br /> $5,000. The entire appropriation for that TIF <br /> area is all going to debt service. <br /> Ms. Leonard noted that the amount to be <br /> appropriated for the Airport Economic <br /> Development Area is $13,745,000; in the <br /> South Bend Central Development Area the <br /> amount appropriated is $6,320,000; in the <br /> 6 <br />