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South Bend Redevelopment Commission Regular Me ting - March 20, 1981 5. PUBLICIHEARING (continued) The iminediate thing that can be addressed is that which alread generates traffic within the neighborhood, and we can see some good success. We can also ask for some control or posting of through - traffic prohibition with those types of signage and some enforcement. As we develop the area that we are trying to emphasize as residential, we may be able to do some things physically in order to restrict through - traffic as well. That should develop as a result of the workings of the office that w ll be located in the neighborhood. We are open to sugges ion in that regard, and as we go through the pro- ject tat will become evident to everyone involved. Mr. Ha man asked what was meant by the statement that there would possibly be some tailor- made programs for renovation of houses. Ile said that he understood the Bureau of Housing has a 9% loan program and also a re- bate project, but that he is not aware of anything else that t ey have right now. Mr. McMahon replied that he didn't know what the Bureau of Housing has today and what they will have tomorrow in light of the budget cuts that the Federal Government is going through. We have a number of programs that are in place today that will be explained. Secondly, the Bureau of Housing tailors some of their programs on an annual basis, and we are asking them to do that with respec to programs that will be coming up during their next f scat year. They are currently into that process so it s timely that this is happening now. Second y, for us to buildup a program here that relies stricly on Federal funds would not be in our best in- terest We deal with them everyday, and we don't know where those funds are going to be. We may find that as a result of the current Reagan Administration action that we have twice the number of programs we have now, or we might find that we have none. Because that will be fluctuating back and forth, it would really be foolish for us to rely strictly on those funds. We will be using them tq.the extent that they are available. We wani ing in that al crease and ut= we will trial to pursue what is called Tax Incremental Financ- the area. Tax Incremental Financing is a program lows a redevelopment district to capture the in- in taxes that are paid as a result of development lize them in that district. One of the reasons be emphasizing some early activity in the indus- rea, while a number of those folks indeed will get 17