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South Bend Redevelopment Commission <br /> Regular Meeting—October 25, 2011 <br /> 6. NEW BUSINESS <br /> D. South Bend Central Development Area <br /> (1) continued... <br /> Mr. Downes noted that he didn't think the <br /> philosophical discussion about whether to <br /> bring the additional area into the SBCDA <br /> TIF belongs with the Commission, but with <br /> the Common Council. <br /> Mr. Varner noted, then, if there's a change in <br /> plans for the area to commercial, rather than <br /> residential, then the increment would accrue <br /> to the TIF. Mr. Gibney responded that we <br /> are not anticipating anything other than <br /> residential there; residential is the most <br /> logical development strategy for that land. <br /> Ms. Jones noted that most tax money comes <br /> from business, not residential. It was nearly <br /> 20 years ago that residential taxes were <br /> excluded from TIF. <br /> Mr. Varner asked Mr. Kain if he could bring <br /> a copy of the pro-forma to the next <br /> Commission meeting. Mr. Kain responded <br /> yes he will. <br /> Upon a motion by Mr. Downes, seconded by COMMISSION APPROVED RESOLUTION No.2951 <br /> Ms. King and unanimously carried, the EXPANDING THE BOUNDARIES OF THE SOUTH <br /> Commission approved Resolution No. 2951 BEND CENTRAL DEVELOPMENT UREA, <br /> EXPANDING THE ALLOCATION AREA FOR THE <br /> expanding the boundaries of the South Bend PURPOSES OF TAX INCREMENT FINANCING AND <br /> Central Development Area, expanding the AMENDING THE DEVELOPMENT PLAN FOR THE <br /> Allocation Area for the purposes of tax SOUTH BEND CENTRAL DEVELOPMENT UREA. <br /> increment financing and amending the <br /> Development Plan for the South Bend <br /> Central Development Area. <br /> (2) Staff report on disposition of property <br /> (310 E South, 602 Carroll, 628 Rush, 609 <br /> Columbia and 620 Columbia. <br /> 11 <br />