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South Bend Redevelopment Commission <br />Regular Meeting --October 1 , 2007 <br />G. NEW BUSINESS (CONY.) <br />G. Douglas Road Economic Development Area <br />(1) continued ,,.. <br />Public Hearing was scheduled for today. We <br />are not ready to proceed today, so he asked <br />that Item 6.G. (I) be tabled until the <br />November 2 meeting. <br />'Upon a motton by fir. King, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission tabled Item 6.G. to <br />November 2,, 2007. <br />(2) Public Hearing on .resolution No 2391 <br />appropriating the proceeds (including <br />investment e.arnings thereon) of the <br />Redevelopment District Tax Increment <br />Revenue Bonds. <br />Mr. Peterson noted that the Conine .ss.ion <br />established the Douglas load Economic <br />Development 1- rca in 2005 for the purpose of <br />establishing a tax increment financing district <br />to fund the expansion of Douglas load <br />between S.R. 23 and the Mishawaka city <br />limits to provide for development in that <br />area. Since that time a project has cope on <br />lire, the Memorial Health and Home facility <br />at 3355 Douglas Road. That facility will lay <br />its first taxes in 2008, so it will be possible in <br />2008 to use the tax increment in the <br />development area to leverage the completion <br />of the Douglas Road improvements. Staff <br />has been in conversation w1th .Holladay <br />properties which owns other property in that <br />area about another development that could be <br />coning on fine and trying to rake a deal <br />come together to make this happen. We <br />started in the spring of 2007 becaLlse of the <br />10 <br />IovFi1 t jvj� 2,, 2007 <br />