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South Bend Redevelopment Commission <br /> Regular Meeting—March 8, 2011 <br /> 6. NEW BUSINESS <br /> (D) South Side Development Area <br /> (1) continued... <br /> assessed value back to the general taxing <br /> units. Mr. Varner has been a proponent of <br /> this for a long time. The Redevelopment <br /> Commission is to be commended for giving <br /> the city the tools to be able to lay the basis <br /> for the private investment. Erskine Commons <br /> was an old landfill with serious <br /> environmental issues and concerns, but <br /> because the city was able to create dollars to <br /> assist with remediation and to put some <br /> infrastructure in to support that area, the city <br /> has seen significant investment there by the <br /> private sector, even more then originally <br /> projected. That investment has generated <br /> revenue at an even faster rate than had been <br /> projected which allows us to pay off the <br /> bonds early so that the city can now release <br /> that AV. The Mayor commended the staff for <br /> putting the tools in place to terminate the <br /> Erskine Commons TIF area so the assessed <br /> value can now serve the school corporation <br /> and our libraries, South Bend Parks as well <br /> as other local units of government. <br /> Mr. Inks acknowledged Mr. Schalliol who <br /> was responsible for virtually all the planning <br /> on the south side. He worked very closely <br /> with the developers for Erskine Commons <br /> and Erskine Village and it's through Mr. <br /> Schalliol's efforts that a lot of what's <br /> happened on the south side actually occurred. <br /> It is a tremendous success. <br /> Mr. Varner asked what the necessary <br /> improvements are for the U.S. 31 project. <br /> Mr. Schalliol responded that staff is looking <br /> 5 <br />