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South Bend Redevelopment Commission <br />Regular Meeting -December 7, 2007 <br />6. NEW BUSINESS (CONT.) <br />A. Public Hearing <br />(1) continued... <br />Public Hearing Resolution No. 2401 <br />Area is $46,000. It is a small, new <br />development area. We anticipate that money <br />would be used for only one project, an <br />improvement of Douglas Road from S.R. 23 <br />to the Mishawaka city limits, a project that at <br />$46,000 per year would take a long time to <br />pay for. We anticipate more development in <br />that area, causing the increment to <br />accumulate faster. <br />Ms. Jones asked if there was anyone who <br />wished to speak regarding Resolution <br />No. 2401. There was no one who wished to <br />speak. <br />(e) Commission approval requested for <br />Resolution No. 2401 a Supplemental <br />appropriation resolution of the <br />Redevelopment Commission (Douglas <br />Road Economic Development Area). <br />Mr. Peczkowski asked if it was correct that <br />the $46,000 is the beginning of bankrolling <br />for a larger project, or saving for a rainy day. <br />Mr. Schalliol responded that this is the first <br />collection we've had in this development <br />area which was established in 2006. As more <br />projects come on line, as the Memorial <br />building is fully assessed, yes, the money <br />would be bankrolled until such time as a <br />project comes on line. <br />Mr. Peczkowski confirmed, then, that this <br />has nothing to do with the negotiations we <br />21 <br />