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South Bend Redevelopment Commission <br /> Regular Meeting—December 13, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> A. Public Hearings <br /> (1) continued... <br /> process of approving the boundary <br /> expansion. The purpose of the expansion is <br /> to enable the expenditure of TIF funds for <br /> infrastructure improvements. There is no <br /> acquisition of property planned at this time. <br /> Mr. Varner asked Mr. Kain to clarify the <br /> issue of the taxes generated in the Transpo <br /> site area. Mr. Kain responded that five acres <br /> of the Transpo site currently lie within the <br /> SBCDA. The remainder, another five acres, <br /> is not in any TIF area. State law stipulates <br /> that TIF areas established after 1997 may not <br /> capture residential taxes to a TIF district. <br /> The SBCDA was established prior to 1997, <br /> so increment from residential development in <br /> those five acres may be captured in the TIF <br /> district. Residential development in the five <br /> acres being added to the TIF district by <br /> Resolution No. 2968 will go to the various <br /> taxing jurisdictions that collect in that area. <br /> Mr. Inks noted that the public hearing file is <br /> complete, containing: (1) a copy of <br /> Resolution No. 2951 expanding the <br /> boundaries of the South Bend Central <br /> Development Area, expanding the allocation <br /> area for purposes of tax increment financing <br /> and amending the Development Plan for the <br /> South Bend Central Development Area; (2) a <br /> copy of Area Plan Commission Resolution <br /> No. 223-11 approving declaratory <br /> Resolutions No. 2951 of the Redevelopment <br /> Commission; (3) a copy of South Bend <br /> Common Council Resolution No. 4133 -11 <br /> approving declaratory Resolutions No. 2951 <br /> 16 <br />