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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 />decided to give a $35,000, now $45,000 <br />exemption and nothing to real estate <br />landlords. So, poor tenants have had to pay <br />more in the inner city to help cover these <br />increases in taxes. My own personal taxes <br />went from $38,000 to $73,000 over night, <br />and I, as a business person, was expected to <br />absorb that kind of "hit" on my business. As <br />a result of that we have in today's paper ten <br />pages of houses going up for tax sale. We <br />went to the City Council three or four years <br />ago when this tax problem first came, and we <br />said, this is going to happen to the City, <br />please help us get the State Legislature to <br />understand what they are doing to us and <br />either take away all homestead exemptions or <br />give it to all residential housing. They said, <br />"we have to study the issue." I guess they're <br />still studying it because they have never <br />gotten back to us. Meanwhile, what we said <br />was going to happen, 40% vacancy between <br />Lincolnway and Portage and that <br />neighborhood has happened now, and they <br />didn't listen to us, and that is the result. So, I <br />am here to say, I think TIFs are a good thing. <br />When the Grape Road developers wanted to <br />develop Grape Road, they wanted South <br />Bend to do it. South Bend said, no, we are <br />not going to go to that expense. So, Maggie <br />Prickett said, "We' 11 do it." And, as a result, <br />they did, and they improved that, and it has <br />gone extensively further than they ever <br />originally planned to do. And, I think <br />Mishawaka has been the beneficiary of that. <br />They have, in their wisdom, 15 years ago or <br />so said, "look, we are going to come down <br />24 <br />