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03-27-12 Packet
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South Bend Redevelopment Commission <br />Regular Meeting —March 13, 2012 <br />6. NEW BUSINESS (CONT.) <br />C. Airport Economic Development Area <br />(7) continued... <br />presence of the USTC by allowing for the <br />expansion of uses and services provided <br />within the District, the creation of the <br />Integrated Central Power System and other <br />power management systems, and the <br />repurposing of land and structures long past <br />their present life cycle. <br />Mr. Downes asked Mr. Inks how the $2.2 <br />million dollars affects the TIF budget. Mr. <br />Inks replied that the city's current <br />development opportunity reserve unallocated <br />resources for this year is $9 million dollars <br />and this would use $2.2 million of that <br />amount. <br />Upon a motion by Mr. Varner, seconded by <br />Mr. Alford and unanimously carried, the <br />Commission authorized use of $2.2 million <br />in AEDA TIF funds for the Renaissance <br />District Phase I project, subject to approval <br />of a Memorandum of Understanding at a <br />later meeting. <br />D. West Washington - Chapin Development Area <br />There was no business in the West Washington - <br />Chapin Development Area. <br />E. South Side Development Area <br />(1) Resolution No. 3012 approving and <br />authorizing the execution of an Addendum <br />to the Master Agency Agreement (748 <br />Hawbaker Demolition Planning Project — <br />Supplement #1). <br />32 <br />COMMISSION AUTHORIZED USE OF $2.2 MILLION <br />IN AEDA TIF FUNDS FOR THE RENAISSANCE <br />DISTRICT PHASE I PROJECT, SUBJECT TO <br />APPROVAL OF A MEMORANDUM OF <br />UNDERSTANDING AT A LATER MEETING. <br />THERE WAS NO BUSINESS IN THE WEST <br />WASH INGTON-CHAPIN DEVELOPMENT AREA. <br />
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