Laserfiche WebLink
South Benj Redevelopment Area <br />Regular M eting - May 10, 1985 <br />6. NEW BUSINESS (Cont.) <br />a. Continued.... <br />. Glenda Hernandez commented that she <br />jected to the proposed merger due to the tax <br />crement funds being available for use in the <br />tire area. She stated that it may be <br />ssible for one area to be short changed in <br />e use of the increment, such as Monroe Park. <br />. Nimtz noted that with the amount of money <br />at has been spent in the Monroe Park area to <br />te, there has been no short changing in that <br />aa. The plans for the area have been a huge <br />Ms. Schwartz noted that the tax increment <br />funds can only be used for Redevelopment <br />purposes such as public improvements, <br />acquisition, etc. Tax increment funds cannot <br />be used for housing rehabilitation or <br />Mr E;. Kolata pointed out that there are about <br />seven parcels indentified for acqisition in <br />Moaroe Park. They were identified by South <br />Be -id Heritage for the purposes of infill <br />ho sing whether that be house moves or new <br />co struction. The tax increment funds could <br />only be used for acquiring the lots or any <br />puDlic improvements on public property. The <br />primary funding source of the proposed plan <br />wo ld be Community Development funds. <br />UpDn a motion made by Ms. Auburn, seconded by <br />Mr. Piasecki and unanimously carried, the <br />Commission approved Resolution No. 737 <br />de ignating the South Bend Central Development <br />Area, declaring the South Bend Central <br />Development Area to be blighted, approving a <br />development plan and conditions under which <br />relocation payments will be made, and <br />establishing an allocation area for purposes <br />of Tax Incremental Financing. <br />Mr Hunt thanked the staff of Community <br />Development and Redevelopment for the work <br />they put in on the merger. <br />2612 <br />COMMISSION APPROVED. <br />RESOLUTION NO. 737 <br />DESIGNATING THE SOUTH <br />BEND CENTRAL DEVELOPMENT <br />AREA, DECLARING THE SOUTH <br />BEND CENTRAL DEVELOPMENT <br />AREA TO BE BLIGHTED, <br />APPROVING A DEVELOPMENT <br />PLAN AND CONDITIONS UNDER <br />WHICH RELOCATION PAYMENT'S <br />WILL BE MADE, AND ESTAB- <br />LISHING AN ALLOCATION AREA <br />FOR PURPOSES OF TAX <br />INCREMENTAL FINANCING <br />