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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -August 25, 2006 <br />6. NEW BUSINESS (CONT.) <br />A. Public Hearing <br />() continued... <br />square feet to be built on a site over the next <br />decade, and, as Nick mentioned, an estimated <br />$22,000,000 worth of investment. Professor <br />Wolfson writes, "Will growth in Portage <br />Prairie come at the expense of commercial <br />development in other parts of the city?" <br />Well, my answer is absolutely not. Neither <br />we, nor Portage Prairie, make the market <br />place. Where the public works, lives, and <br />recreates can be influenced by government <br />regulation, zoning, planning, and <br />infrastructure, but developers go where the <br />people of the area want to be. In fact, the <br />northwest quadrant of the city and the county <br />now have more new housing permits being <br />issued there annually than does the <br />University Park northeast quadrant of our <br />county, including Granger. Does South <br />Bend, once again, want to turn its back on the <br />direction of growth and watch from the <br />sidelines? I sure hope not, and I think we're <br />doing this the right way. Professor Wolfson <br />writes, "Any increase in tax revenue from <br />higher assessed property values will not <br />benefit cities generally. The incremental tax <br />revenue will have to be used for <br />infrastructure projects within the confines of <br />the B lackthorn TIF." As I have stated <br />earlier, the development agreement does not <br />allow or require any use of TIF proceeds in <br />Portage Prairie. <br />Finally, Professor Wolfson writes, "A new <br />community organization, a community forum <br />for economic development, has discussed the <br />Portage Prairie issue and recommends that if <br />13 <br />