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South Bend Redevelopment Commission <br />Regular Meeting —June 14, 2012 <br />6. NEW BUSINESS (CONT.) <br />D. South Side Development Area <br />(1) continued... <br />in the South Side Redevelopment Area. <br />Ms. Jones asked if there is money in the <br />South Side Development Area TIF for the <br />project. Mr. Schalliol responded that there <br />was not enough to do both the Fellows Street <br />realignment and to complete the Main - <br />Lafayette connector this year. It was <br />determined that the Fellows Street project <br />had this year's priority. <br />Mr. Davis asked what the traffic count is. <br />Mr. Schalliol responded that 6,800 additional <br />cars per day are expected to be go through <br />the stoplight at Ireland and Fellows, most of <br />which would be expected to continue north <br />on Fellows toward their destinations. <br />Mr. Davis asked how much tax base will be <br />lost as a result of the acquisitions. Mr. <br />Schalliol will have a number at the next <br />meeting. <br />Mr. Davis stated his concern that the city's <br />General Fund would lose tax dollars to the <br />TIF district for about 10 to 20 years. Mr. <br />Inks responded that staff expects the South <br />Side TIF district will be dissolved by about <br />2018. <br />Mr. Varner asked if that 2018 dissolution <br />was precluding any development in the area. <br />Mr. Inks responded that the estimate is <br />based on what the existing increments are, <br />the list of projects we still want to complete <br />with TIF, and how long it takes to fund that <br />18 <br />