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South Bend Redevelopment Commission <br />Regular Meeting -October 20, 2006 <br />6. NEW BUSINESS (CONT.) <br />E. Airport Economic Development Area <br />continue ... <br />proposal and look for a type of development <br />and get a development partner or other <br />bodies to figure out what public <br />improvements, what other improvements and <br />incentives are necessary to get a development <br />there or to accomplish that. And then, it <br />would be starting the process of declaring or <br />expanding the area to affect the designation <br />of that area as an allocation area and to make <br />it available to use for tax increment funds. <br />So, we are beginning the process of going <br />down that road. I think as we look at the plan <br />and what they want, what the proposal is to <br />have, then we can look to finalizing that and <br />looking for a development and then we look <br />for actually making it a part of either the <br />airport area or its own, or maybe a merger of <br />the two, to be able to affect development as <br />proposed there. So, the actual action of <br />designating the LaSalle Square area is not <br />advisable until we know the exact project or <br />goal we want to affect there and there is a <br />development there ready. Because, once you <br />do that you only have thirty years for it to be <br />an allocation area. If you start that too <br />quickly and you don't have the available <br />stream of revenues necessary to create <br />funding to affect what you want to have <br />done. So it really depends upon the project <br />and it depends upon what the neighborhood <br />wants to see there, which is where we are at <br />now. That is the whole process as we move <br />forward. We will continue along that once all <br />the pieces are pulled together. <br />26 <br />