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South BendlRedevelopment Commission <br />Regular Me ting - March 20, 1981 <br />5. PUBLICIHEARING (continued) <br />tax ab <br />partic <br />curren <br />tentio <br />Increm <br />progra <br />ber of <br />ing as <br />curren <br />availa <br />becaus <br />trol a <br />to ass <br />curb a <br />progra <br />and bo <br />have t <br />proble <br />mental <br />Anyth i <br />the <br />the po <br />For th <br />if we <br />abilit, <br />next f <br />Mr. Gil <br />very e- <br />is the <br />been e: <br />and hoi <br />the Moi <br />we can <br />A very <br />assume <br />going <br />Hernanc <br />fal l inc <br />be tru( <br />west s' <br />the ne- <br />borrow- <br />those c <br />about <br />the Bui <br />constri <br />so it I <br />tement, they still will be paying more taxes, <br />larly as the abatement wears off, then are <br />ly being paid in that area. It is our in- <br />to capture those monies through the Tax <br />ntal Financing method and utilize them for <br />s in the area. As we get down the road a num- <br />years that might be through additonal hous- <br />istance, new types of programs that we cannot <br />ly pursue because federal money either is not <br />le or federal guidelines are not there. But <br />it is a local program, we will have more con - <br />d can tailor it better. We might also be able <br />st in additional public improvements, such as <br />d sidewalks, lighting, landscaping. We have a <br />through the city where we plant trees on streets <br />levards, and do other things. We think that we <br />have a source of funds that can address those <br />s as this area is developed, and the Tax Incre- <br />Financing package will give us that opportunity. <br />g that happens positively that contributes to <br />base of the area will be contributing toward <br />of funds that is available to use in that area. <br />s reason we feel a good deal more confident than <br />ere looking strictly at federal funds as to our <br />to actually see these things happen over the <br />w years. <br />>ney said that one of the tools Southold has used <br />=ficiently and effectively in the near west side <br />revolving loan funds for construction. It has <br />;pecially essential and effective in the substand- <br />ise, and can see that as a good tool to be used in <br />iroe- Sample area. We have funds of our own that <br />provide for the neighborhood to be used there. <br />good point was made by Mr. McMahon that you cannot <br />that all of the programs that are going to go are <br />;o go strictly through the Bureau of Housing. Mrs. <br />lez stated that a lot of people are going to be <br />through the cracks, and I certainly know that to <br />Something that Southold has done in the near <br />de is to bring the lending institutions back into <br />ghborhoods. People have had a very difficult time <br />ng any type of money, mortgage, rehab money, and <br />lollars are now available and we are very pleased <br />:hat. It has to be the combination of funds from <br />,eau of Housing, private sector and short -term <br />action loans. All of these are low interest also, <br />ielps you get your building into shape while you <br />NP <br />