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o�sou TH <br /> F dx <br /> :J b <br /> W eFacE � � <br /> y� a 1, a2 <br /> 1865 <br /> Office of the Mayor <br /> NEWS RELEASE <br /> July 20, 2007 <br /> 1:30 p.m. <br /> Westside to benefit from airport-area economic growth <br /> Contact: Mikki Dobski, Director of Communications&Special Projects, 235-5855 or 876- <br /> 1564, or Tom Price, Assistant to the Mayor, 235-5853 or 514-2169 <br /> The economic boon brought from development in Blackthorn and other industries near <br /> South Bend Regional Airport will bring benefits to LaSalle Square and the city's west <br /> side, after a panel gave final approval to one of Mayor Stephen J. Luecke's key State of <br /> the City directives. <br /> And expanded tax revenue from the $200 million investment anticipated after the South <br /> Bend Common Council approved zoning this week for the Eddy Street Commons will <br /> fund a $15 million Northeast Neighborhood redevelopment effort that will construct 60 <br /> new homes. <br /> After public hearings, the Redevelopment Commission approved Friday(July 20, 2007) <br /> the expansion or creation of two tax increment financing, or TIF, districts: <br /> • Expansion of the Airport Economic Development Area to include LaSalle Square, the <br /> Marycrest/Hurwich area and the Sample-Ewing Development Area <br /> • Creation of Housing Program and Housing Allocation residential TIE area in the <br /> Northeast Neighborhood Development Area to enable the "Triangle area" north of <br /> South Bend Avenue to be replated for the construction of 60 market-rate and <br /> affordable homes. <br /> In a TIE district, the increase in tax revenue generated by development stays within the <br /> boundaries of the district to fund infrastructure improvements, including curbs, <br /> sidewalks, streets, landscaping and other public improvements. <br /> "These procedural actions by the Redevelopment Commission represent real <br /> opportunities for a bright future for these areas by bringing significant public resources to <br /> spur new investment in strategic areas that many have previously overlooked,"Luecke <br /> said. "At last, this will give the city the kind of resources necessary to work to revitalize <br />