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South Bend Redevelopment Commission <br />Regular Meeting —March 8, 2011 <br />units. <br />Mr. Inks displayed a map showing the TIF <br />areas of the South Side Development Area. <br />He noted that the South Side Development <br />Area was created in . In two <br />separate TIF areas were carved out for <br />development of Ersking Village and Erskine <br />Commons. The Erskine Commons project <br />has been operating for a number of years and <br />generating over $3K annually in TIF <br />revenues. Since the project is completed, <br />those funds are no longer necessary and the <br />resolution today would be releasing that <br />increment on a permanent basis back to all of <br />the other taxing jurisdictions: the city's <br />General Fund ; Parks, the school corporation, <br />library, airport, and all other taxing <br />jurisdictions. There is work yet to be done in <br />the main allocation area (SSDA Allocation <br />Area No. 1) and it's been determined there <br />are sufficient resources and revenues to <br />complete the plan originally put together. By <br />2014, the staff will have completed <br />everything planned for Allocation Area No. 1 <br />with increment from that allocation area. <br />Mayor Stephen J. Luecke that this is an <br />occasion for celebration. What was <br />envisioned for TIF districts was that they be <br />able to do projects that are needed to support <br />private investment and then to release <br />assessed value back to the general taxing <br />units. Mr. Varner has been a proponent of <br />this for a long time. The Redevelopment <br />Commission is to be commended for giving <br />the city the tools to be able to lay the basis <br />for the private investment. Erskine Commons <br />was an old landfill with serious <br />environmental issues and concerns, but <br />because the city was able to create dollars to <br />assist with remediation and to put some <br />rd <br />