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South Bend Redevelopment Commission <br />Regular Meeting —June 20, 2003 <br />IL <br />6. NEW BUSINESS <br />G. South Side Development Area <br />(1) continued... <br />through a combination of Sales Tax <br />Increment Financing (STIF) and Tax <br />Increment Financing. The STIF is <br />dependent upon approval by the State <br />Budget Agency. That approval is still <br />pending which is why the project, as <br />described in the Development Agreement, <br />has been divided into two (2) phases. <br />Staff recommends the Commission approve <br />Resolution No. 1983 approving execution of <br />the Development Agreement and any other <br />documents necessary to effect that <br />transaction. <br />Upon a motion by Mr. Faccenda, seconded <br />by Mr. Kahn and unanimously carried, the <br />Commission approved Resolution No. 1983 <br />approving the execution of a Development <br />Agreement and other related documents <br />associated with the Mall Redevelopment <br />Proj ect. <br />H. Other <br />There was no Other business. <br />7. PROGRESS REPORTS <br />Mr. Rock distributed a Redevelopment Commission <br />Progress Report covering the first six (6) months of <br />2003. The report included projects from Studebaker <br />Corridor, the Airport Economic Development Area, <br />the South Bend Central Development Area and the <br />Sample -Ewing Development Area. Attached for the <br />record is a copy of the report which was highlighted <br />by Mr. Rock. <br />19 <br />COMMISSION APPROVED RESOLUTION NO. 1983 <br />APPROVING THE EXECUTION OF A DEVELOPMENT <br />AGREEMENT AND OTHER RELATED DOCUMENTS <br />ASSOCIATED WITH THE MALL REDEVELOPMENT <br />PROJECT. <br />THERE WAS NO OTHER BUSINESS. <br />