11-27-18 Personnel and Finance - Laserfiche WebLink

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,;.,o()I-" ,) dU s,PEACEj. � x ;ss OFFICE OF THE CITY CLERK KAREEMAH FOWLER, CITY CLERK PERSONNEL &FINANCE NOVEMBER 27, 2018 5:00 P.M. Committee Members Present: Karen White, Regina Williams-Preston, John Voorde Committee Members Absent: Gavin Ferlic Other Council Present: Tim Scott,Jo M. Broden(late), Sharon L. McBride (late) Other Council Absent: Jake Teshka, Oliver Davis Others Present: Graham Sparks, Bob Palmer Presenters: James Mueller, Tim Corcoran Agenda: Tax Increment Financing (TIF) Presentation- DCI Staff Miscellaneous Committee Chair Karen White called to order the Personnel and Finance Committee meeting at 5:00 p.m. She introduced members of the Committee and stated, This is the first(1st) of a four(4) part series as we begin to look at budget preparation. During the past budget discussion in preparation of 2019, a number of questions and concerns were raised. One (1) of which was TIF and we know there are a lot of opinions in terms of the use of TIF and how it should be implemented. So today we will have a discussion. It is not a debate as it is a discussion for us to really look further into TIF as we continue looking at the financial components that comprise our budget. We also discussed during that budget process that we would have quarterly updates from various department heads as well as starting discussions on the debt and the overall preparation for budget year 2020. I did send a report to the Council Members that was conducted in 2016 by a professor from Purdue University. I shared that with Dr. Mueller as well. Committee Chair White then gave the floor to the presenters. Tax Increment Financing(TIF) Presentation- DCI Staff James Mueller, Executive Director of Community Investment with offices located on the 14th floor of the County-City Building, stated, I appreciate the opportunity to discuss one (1) of our most important economic development tools. A lot of the progress that you've seen over the past few years is in no small part to the use and deployment of TIF resources. Something that came up yesterday in conversation on the Storm Water fee was the use of TIF. TIF is already used for drainage and other infrastructure needs. If you recall, we did the Water Capital rate increase for water capital. There was a lot of TIF put in for that so, this year, it is a couple million dollars for various improvements particularly on the south side. I just wanted to clarify that given the discussion. TIF is also not a magic mound of money. I think part of the misconceptions are due to INTEGRITY SERVICE'ACCESSIBILITY JENNIFER M.COFFMAN BIANCA L.Tuw)O JOSEPH R.MOLNAR CHIEF DEPUTY/DIRECTOR OF OPERATIONS DEPUTY/DIRECTOR OF POLICY ORDINANCE VIOLATION CLERK EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT 455 County-City Building 1227 W.Jefferson Blvd.I South Bend,Indiana 46601 I p 574.235.92211f 574.235.91731 www.southbendin.gov