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South Bend Redevelopment Camission <br />Regular Me§ting - September 8, 1989 <br />6. NEW BUSINESS (Cont.) <br />g. coPti.nuea... <br />1107 <br />su0cessful in receiving either a grant or <br />a ..oan because of the project's proximity <br />to Exit 72 of the Toll Road, but if <br />ne ther application was successful, we <br />wcxt1d,issue a small revenue bond which <br />wod1d. be repaid from tax increment <br />generated in the Brick,/olive Economic <br />De elooment Area. <br />Kolata noted that the mall is <br />ang for a start date yet this year. <br />want assurances from the City that <br />City can build the road and the <br />ssary water and sewer extensions. <br />Mr. Pocius explained that we expect that <br />th e will be some supporting cc mexcial <br />development which typically follows the <br />development of a mall. <br />Mr Nimtz noted that the developers of <br />ttu-s mall have searched the country for <br />sLL table locations for their malls and <br />are very enthused about the South Bend <br />Kolata noted that Resolution No. 889 <br />ares the Economic Development Area, <br />blishes a tax increment financing <br />. with the same boundaries as the <br />cmic Development Area and approves <br />Development Plan for the Brick,/olive <br />cmic Development Area. <br />Upon a motion by Mr. Piasecki, seconded <br />by Mr. Donoho and unanimously carried, <br />the Commission approved Resolution No. <br />889 declaring an area in the South Bend <br />Central Development Area as an Economic <br />elopmnent Area and approving a <br />elopment Plan for said area. <br />• ell .1 1 <br />•• • 1 1 • . 121 <br />