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