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South Bend Redevelopment Commission <br />Regular Meeting -July 21, 2006 <br />6. NEW BUSINESS (CONT.) <br />E. Airport Economic Development Area <br />continued... <br />cannot, some of those items, to the extent <br />they are eligible TIF items, we are asked to <br />pickup as part of the TIF budget for the <br />AEDA. There were a few items in the <br />operating budget this year on the capital side <br />which were funded with TIF. The balance of <br />the operating budget is primarily taken up by <br />debt service. To some extent, part of the debt <br />service is paid from TIF. So, while the golf <br />course generates between $200,000 and <br />$300,000 for operations, that is consumed by <br />capital and debt service requirements. If <br />there are additional capital and debt service <br />requirements, the TIF helps cover the costs <br />of maintaining that amenity for the <br />Blackthorn industrial and corporate parks. <br />Mr. Inks agrees that the long term capital <br />plan needs to be reviewed and adjusted in <br />light of new estimates for significant items in <br />that capital plan <br />Mr. King indicated that he is in favor of this <br />world class golf course in our city. He <br />questions, however, the use of TIF funds for <br />what should be a maintenance item. He <br />made a comparison to Century Center and <br />the po ssibility o f its asking for TIF funds for <br />renovation. Century Center maintains a <br />sinking fund into which it puts money for <br />anticipated renovation. He is uneasy about <br />the attitude of Blackthorn Golf Course which <br />assumes TIF is available for what should be <br />operating expenses. Century Center, the <br />Morris/Palms and Blackthorn Golf Course <br />are amenities which bring money into the <br />community. Only Blackthorn Golf Course, <br />32 <br />