Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting — August 23, 2011 <br />6. NEW BUSINESS (CONT.) <br />B. Airport Economic Development Area <br />(1) Resolution No. 2935 setting a Public <br />Hearing on the appropriation of tax <br />increment financing revenues from the <br />Airport Economic Development Allocation <br />Area for the payment of certain <br />obligations and expenses related to their <br />respective allocation areas and other <br />related matters. <br />Mr. Inks noted that Resolution No. 2935 sets <br />a Public Hearing for 4:00 p.m., <br />September 13, 2011, on the appropriation of <br />tax increment financing revenues from the <br />Airport Economic Development Allocation <br />Area. <br />The Controller asked the Redevelopment <br />Commission early in the year not to <br />appropriate everything until it was actually <br />needed. We are at a point were we have <br />gone through all of the money that has been <br />appropriated. The current appropriation for <br />the Airport area is being used for projects <br />that are either under contract or in the <br />process of being bid. To continue with other <br />projects, we need additional funds to operate. <br />Mr. Varner asked if staff will delineate the <br />projects at the time of the public hearing. <br />Mr. Inks responded that he has a draft of a <br />schedule similar to the one provided for the <br />last appropriation showing the original, <br />second, and third appropriations and the <br />projects related to each. Mr. Varner asked <br />how much has been appropriated so far this <br />year. Mr. Inks responded over $20,000,000. <br />10 <br />