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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 />the Redevelopment Commission expands the <br />Blackthorn TIF northward to incorporate <br />Portage Prairie, then it should also expand it <br />southward to include .. . <br />Mr. King interrupted to let Mr. Phair know <br />his time was up and to ask Mr. Phair to wrap <br />up his comments. <br />MR. JOHN PHAIR: Last thing, even though <br />Portage Prairie is not a beneficiary of the TIF <br />proceeds, nor were we successful at <br />convincing the city to set a TIF district in <br />Portage Prairie, we believe that the use of the <br />TIF is an important economic tool for South <br />Bend and all cities. In fact, it is almost the <br />only tool that cities have available to them <br />for this type of use. The addition of this <br />piece of land that currently has less than <br />$5,000 of taxes being paid from it and the <br />possibility of generating millions of dollars <br />annually, is a legitimate opportunity for <br />South Bend and any city to create the use of <br />a TIF. We would recommend you proceed. <br />Ms. Greene noted that she had prepared a <br />prompt showing first aone-minute warning <br />and then the five-minute time expiration and <br />will serve as atime-keeper for members of <br />the public wishing to speak. <br />Mr. King asked if anyone else wished to <br />speak in favor of Resolution No. 2254. <br />There was no one else who wished to speak <br />in favor. <br />14 <br />