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South Bend Redevelopment Commission <br />IL Regular Meeting — July 15, 2005 <br />6. NEW BUSINESS (CONT.) <br />J. Other <br />(1) continued... <br />showing all the parcels in the most recent <br />boundaries. The second purpose would be <br />for Crowe to review and make <br />recommendations concerning base values for <br />the TIF Areas. After each general <br />reassessment, there is an adjustment process <br />that the auditor applies to the base value of <br />each TIF area. In the past we have hired <br />outside consultants to work with us to review <br />the auditor's adjustments and determine <br />whether any further adjustments are <br />appropriate. This study covers this review as <br />well. <br />Mr. Inks noted that the proposal is broken <br />down into two steps. Step one is a review of <br />the current records and preparation of an <br />action plan on how to proceed. The cost of <br />that step is not to exceed $7,500. The <br />balance of the work will be the analysis of <br />the assessed values and recommendations for <br />adjustments to base values. The fee for that <br />part of the proposal will be costed out after <br />development of the action plan. In <br />communications with Crowe Chizek, they <br />initially indicated they did not expect the <br />total cost of this to exceed $35,000. We have <br />asked that all of the TIF areas be included in <br />this review and that the cost be broken down <br />by TIF area so that the TIF areas can pay <br />their respective share of the study. <br />Mr. King noted that in order to avoid any <br />appearance of impropriety he will abstain <br />from discussion and vote on this item. He <br />retired from Crowe Chizek in 1999. <br />IL 1 16 <br />