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South Bend Redevelopment Commission Regular Meeting —June 28, 2011 in any of its TIF areas. We are required to do that by July 15 of each year. The letter outlines no excess assessed value exists in any of the current TIF areas in South Bend with two exceptions. Last year the list included Erskine Commons. The city has since put that TIF back on the tax rolls so it no longer exists. The list this year also does not include Erskine Village, the old Scottsdale Mall site. We are continuing to review financial information to determine whether there might be excess assessed value. That will be answered at the next meeting. The form of letter attached to the resolution lists TIF areas that still have multiple project needs to be done over a period of time because the resources aren't there to do them all at once. We do not believe those TIF areas have excess assessed values that can be released at this time. If Resolution No. 2905 is approved, staff will then send a notice to the various governmental entities and let them know there is no excess assessed value in these TIF areas. Upon a motion by Mr. Arnold, seconded by Mr. Downes and unanimously carried, the Commission approved Resolution No. 2905 determining that the Tax Increment which may be collected in the year 2012 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. (2) Certificate regarding Annual Financial Information Disclosure Mr. Inks noted that this is a certificate regarding an annual financial information disclosure for the Eddy Street Commons 39 COMMISSION APPROVED RESOLUTION NO. 2905 DETERMINING THAT THE TAX INCREMENT WHICH MAY BE COLLECTED IN THE YEAR 2012 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.