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PERSONNEL AND FINANCE COMMITTEE <br />APRIL 25, 2012 4:30 P.M. <br />Committee Members Present: <br />Karen White, Gavin Ferlic, Dr. David Varner <br />Other Council: <br />Tim Scott, Valerie Schey, Dr. Fred Ferlic, Oliver Davis <br />Citizen Member: <br />Tammy McNally <br />Others Present: <br />Sheri Miller- Story, Don Inks, Beth Leonard, John Murphy, Mike Schmuhl, Greg Downs, Randy <br />Rompala, Mark Neal, Kathy Cekanski - Farrand, Marti Wolfson, Rahman Johnson <br />Agenda: Finance Workshop – Educational Session on Tax Increment Financing <br />This workshop, the second in a series of budget workshops, was called to focus on (TIF) Tax <br />Increment Financing. While the first workshop focused on a general overview of South Bend's <br />budgetary process, this meeting was to describe the nature, and use of TIF as well as past and <br />current practices employed by the city when using TIF. These workshops have been initiated <br />primarily by Councilmember Karen White, Chairperson of the Council's Personnel & Finance <br />Committee. The purpose of the workshops as Karen describes purpose of the workshops as <br />Karen describes is to give Councilmember's, especially the four new members an opportunity to <br />understand the City's budget and the Council's role in helping to formulate and ultimately approve <br />the annual budget. <br />This workshop focusing on TIF was presented by City Controller Mark Neal, Economic <br />Development's Director of Finance Don Inks and Randy Rompola an attorney with the firm of <br />Faegre, Baker, and Daniels LLP contracted by the City for technical consulting. <br />After a brief welcoming statement by Chairperson White she turned to Mark Neal to outline the <br />presentation. His introductory remarks were followed by a lengthy presentation by Mr. Rompola <br />which covered the legislative history of TIF and a complete overview of how it has been used <br />both locally and around the state. Don Inks followed with a detailed picture of TIF districts in <br />South Bend. Questions and answer periods for the Council followed each presentation. Each <br />presenter use overheads and handouts (3) to illustrate the material. <br />City Controller Mark Neal promised a detailed financial report on each district to be provided in a <br />couple of weeks. <br />Chairperson White closed the meeting thanking the presenters and urging the Council to review <br />the written material and provide feedback before the next workshop which she announced would <br />be on June 27 th <br />There being no further business to come before the committee at this time, Chairperson White <br />adjourned the meeting at 6:30 p.m. <br />Respec c ully Submitted, <br />Z— <br />K ren L. White, Chairperson <br />Personnel & Finance Committee <br />