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South Bend Redevelopment Commission <br /> Regular Meeting—May 31, 2012 <br /> 3. APPROVAL OF CLAIMS (CONT.) <br /> amended claims list submitted May 31, 2012, and <br /> ordered checks to be released. <br /> 4. COMMUNICATIONS <br /> There were no Communications. THERE WERE NO COMMUNICATIONS <br /> 5. OLD BUSINESS <br /> There was no Old Business. THERE WAS NO OLD BUSINESS <br /> 6. NEW BUSINESS <br /> A. South Bend Central Development Area <br /> (1) Resolution No. 3040 setting a public <br /> hearing on the appropriation of South <br /> Bend Central Development Area tax <br /> increment financing revenues for the <br /> payment of certain obligations and <br /> expenses related to their respective <br /> allocation areas and other related matters. <br /> (Public hearing to be held 9:30 a.m., June <br /> 28, 2012.) <br /> Mr. Inks noted that the additional funding <br /> available for this appropriation is from debt <br /> service reserves released upon payoff of the <br /> SBCDA bonds of 1990/1996 in February of <br /> 2012. The majority of the money will be <br /> used to cover a correction in the 2012 debt <br /> service calculation for the 2003/2011 <br /> SBCDA bonds. <br /> Mr. Varner asked if these are additional cash <br /> resources. Mr. Inks responded that they are. <br /> The earlier appropriation was based on <br /> estimates. Now that we have the tax <br /> disbursement, there is more money than <br /> anticipated. Also, due to bond refundings, <br /> 4 <br />