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South Bend Todevelopment Commission <br />Regular Meeting - February 9, 1990 <br />6. NEW BUSINESS (Cont.) <br />b. continued... <br />e. <br />Redevelopment Authority. The <br />Redevelopment Authority must then accept <br />the transfer. The Park Board and the <br />Boaxd of Public Works will also be <br />transferring property to the Authority in <br />s' 'lar resolutions. <br />Upor a motion by Mr. Combs, seconded by <br />Mr. Piasecki and unanimously carried, the <br />Commission approved Resolution No. 913, a <br />resclution of the South Bend <br />Redevelopment Commission, indicating its <br />in tion to transfer certain real estate <br />to the South Bend Redevelopment <br />Mrs. Folata noted that South Bend <br />Allc cation Area No. 1A is the main <br />redevelopment area, which includes the <br />East Bank and Monroe Park. The <br />Ccxmission has financed a comber of <br />public improvements in the area, mostly <br />through bond issues. In other areas, we <br />have used tax increment finance to <br />rehiburse a unit of goverrmkent for <br />expenditures it has made. This <br />resolution allows the Redevelopment <br />Conmission to take advantage of a recent <br />charge in the law, allowing the direct <br />expenditures of tax incremental financing <br />dollars. Resolution No. 910 authorizes <br />experiditures of $100,000, broken dawn <br />into expenditures of $30,000 for public <br />impr3vements, $45,000 for consultants for <br />acquisition and redevelopment activities, <br />and 25,000 for property management. All <br />of tlese are eligible expenditures under <br />the tax increment law and redevelopment <br />law. <br />-5- <br />•• 1 I • - "• E• • • <br />• - �S • • E <br />SOUTH BEND REDEVELOPN= <br />CONNISSION, I • <br />TO TRANSFER CERMIN REAL ESTATE <br />TO THE SOLTIH BEND REDEVEIOPMENT <br />ALTIHOR <br />