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No. 2591 determining that the tax increment which may be collected in the year 2010 is needed to satisfy obligations of the commission and that no excess assessed value may be allocated to the respective taxing units and other related matters
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No. 2591 determining that the tax increment which may be collected in the year 2010 is needed to satisfy obligations of the commission and that no excess assessed value may be allocated to the respective taxing units and other related matters
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10 CITY OF SOUTH BEND, INDIANA <br />Department of Community & Economic Development <br />Determination of TIF Need by Reviewing Potential Projects <br />for Calendar Year 2010 <br />u <br />South Bend Central Development Area <br />ANTICIPATED TIF REVENUE - 2010 <br />DEBT SERVICE <br />Performance Bonds Held <br />Debt Service Payments (1990 and 2003 bonds) <br />Increases in Debt Service Reserves <br />PROJECTS <br />1st Source Public Improvements <br />American Trust Place - Design /Construction <br />Coveleski Park Study & Plan Implementation <br />Downtown South Bend, Inc. <br />Downtown Street Improvement <br />Fat Daddies Holding & Pre - development <br />Hill & Colfax Mixed Use Development <br />Jon Hunt Plaza Site Improvements <br />LaSalle Hotel Holding Costs <br />Legal Fees <br />Main & Jefferson Parking Lot <br />Main & Western - Site Clean -up <br />Michigan Street - Street and Sidewalk Enhancement <br />Palais Retail Space <br />Predevelopment <br />REI - Parking Garage <br />Rink Site Development <br />St. Joseph & Jefferson Parking Lot <br />Studebaker Admin Building Project <br />Synagogue Relocation <br />TCU Town Plaza <br />WNIT - Parking and Fagade (incl. acq. /demo of 322 W. Jefferson) <br />Description <br />$3,688,956 <br />Debt Service payments of $2,243,220 due in 2010 <br />Funds necessary to keep Debt Services Reserves at appropriate levels <br />Improvements in public right -of -way <br />Restoration of historic building fagade <br />Improvements to area surrounding Coveleski Park <br />On -going commitment to assist in streetscape enhancement <br />Various street improvements to enhance downtown <br />Improvements to block at St.Joseph & Monroe <br />New development at eastern edge of East Bank area <br />Improvements to public space <br />Costs to hold building until new development project is underway <br />Legal fees to further downtown development <br />Expenses related to operation of parking lot <br />Curb, greenspace and striping improvements <br />Street and sidewalk enhancements along Michigan Street <br />Miscellaneous improvements to commercial space <br />Appraisal, title, survey, etc. <br />Hotel and parking garage development at Jefferson /St. Joseph Streets <br />Miscellaneous costs relating to eventual development of site <br />Management of parking lots <br />Provide parking to facilitate development <br />Relocate historic structure for strategic integration within redevelopment area <br />Parking improvements to TCU area <br />Improvements to facilitate new use for soon -to -be vacated building <br />F: \DATA \SHARE \ECONDEV\Tax Increment Financing \Projected TIF need 2010 .xls <br />7/7/2009 <br />
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