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South Bend I edevelcpment Commission <br />Regular Meeting - October 27, 1989 <br />6. NEW BUSINESS (Cont.) <br />a. continuea... <br />Mrs. Kolata: I believe anyone within 300 <br />fee is notified. <br />Mr. Pietrzak: My name is Joe Pietrzak, <br />537 Edgewater Drive. This whole <br />proposition is set up primarily for <br />blighted neighborhoods. I don't believe <br />the Edgewater Historical area is a <br />blichted neighborhood. So I can't even <br />see that it applies to our particular <br />neighborhood. That's all I want to say <br />on this. <br />Mr. imtz: 'Thank you. I'm going to jump <br />to t he Howard Park area and the area east <br />of the river. Anybody want to be heard <br />on t? <br />Mr. nk: Yes, I'd like to be heard on <br />that. The effect of this tax increment <br />financing district will take effect <br />when? Next year? On the new <br />reassessment? Two years? 1991? <br />Mrs. Kolata: The resolution would <br />establ. ish the base assessment date for <br />these new areas as March 1, 1989. So the <br />first increment would be 1990, payable <br />1991. <br />Mr. Crank: So the effect of this would <br />be to capture all these tax funds for use <br />only in this district and not help the <br />othe r areas of the city? <br />Mrs. Kolata: No, it would only capture <br />growth within those areas. Not existing <br />assessed value. <br />Mr. nk: What about the new office <br />buildina which was erected? <br />Mrs. IKolata: That is already in the <br />rwmm <br />: That is already in the base. <br />-11- <br />